Legal information

We take the security of your Marcus account very seriously. For this reason, we will need to verify that you are authorised before we discuss any account information with you.

When speaking with us over the phone, we will need a few details to help verify it's you. If we need any details, an authorised individual from our Customer Care Team will only ever ask you for your memorable pin, or an answer to a security-based question.

There may also be times when we need to call you, for your security we will ask you for your memorable pin, or an answer to a security-based question to ensure it is you we are speaking to. 

It's important that you only share this information with our verified team, we will always call you from our registered number on our website. If you are not sure, you can advise our team that you would rather call us directly and call us on the registered number on our website.

We will never ask you for your password for your online account and we will never ask you to move money to a safe account. 

Your password is what you use, alongside your email address, when you log into your account at Marcus.co.uk.

Your pin is the 6-digit number we use to verify you when we speak with you over the phone. You created this when you first opened your account. 

Yes, that’s right. If you open a Marcus Online Savings Account or Cash ISA, you need to pay money into it within 90 days of opening your account. If you open a Fixed Rate Saver, you need to transfer funds within 14 days of opening your account. This is called the ‘funding window’.

There is no requirement on the amount you pay into your account - it can be as little as a penny. However, in the case of the Fixed Rate Saver, you won’t be able to pay in additional funds after the funding window closes.

We will notify you that one of your accounts is unfunded by email. You’ll then have these options:

• Keep your account open by making a payment in and using it regularly
• Close the account

Please note: in the case of a Cash ISA, where you haven’t subscribed for over one tax year (6 April – 5 April) the ISA rules also require you to re-new your Cash ISA before you can pay in more money. We will contact you if this happens to remind you of the steps you need to take to renew your Cash ISA.

We understand that there could be many reasons why you haven’t used your Marcus savings account recently. Whatever the reason, we want to make sure your money is kept safe for when you do need it.

If you haven’t accessed or used your account for 3 years then we will treat it as inactive to remove the risk of fraudulent activity. If there’s money in your account, we may temporarily freeze it to prevent any further funds being paid in or withdrawn until we have heard from you. If you have a zero balance, we may take steps to close your account. In both cases, we’ll try to notify you beforehand to let you know what options are available. The easiest way to keep your account active is to log in regularly or move money to or from your account.

We may also transfer your funds to the Dormant Assets Scheme if you haven’t accessed or used or account for 15 years. This scheme is run by Reclaim Fund Limited which is authorised and regulated by the FCA, and is used to help communities across the UK. You’ll still be able to get back your money if this happens by contacting us. You can learn more about the Reclaim Fund here: https://www.reclaimfund.co.uk/. 

If your account has been frozen because it is inactive we'll need to check your details are up to date, including your ID and address before removing the freeze.  Once it’s up and running again, just make a payment in or withdrawal and continue using it regularly to keep it active.

If you are unable to move money and you think your account may be inactive, please call our Customer Care team on 0800 085 678  - we will need to ask you some security questions to confirm your identity before re-activating your account.

Your linked account must be a UK current account in your name. There are some accounts we can’t support as your linked account:

• Accounts where your account provider may transfer your money from an account number and sort code that differs from your individual details.
• Accounts with restrictions, for example that may stop you withdrawing from your Marcus account to it in the future.
• Business accounts.

If you have any questions about accounts we can support, please give our Customer Care Team a call on 0800 085 6789.

If you have set up a business account as your linked account, we will ask you to change your linked account to a UK current account in your name.  We may need to return any money you have already sent to your account from your business account.

If you’re not able to provide an alternative linked account in your name, we may need to close your account.