Goldman Sachs new online retail bank
Goldman Sachs has rolled out its Marcus online retail bank into the UK customers.
Goldman Sachs Bdc, Inc.
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10:59 26/04/24
The new bank, named after one of the bank's founders, was trialled with its UK staff and has been available in the US for two years, Goldman Sachs has introduced it to UK customers on Thursday.
Goldman said the account is “transparent, secure and easy to use”. Savers can open the account with just £1 up to £250,000 and the 1.5% launch rate of interest was at the time the highest among existing accounts available in the UK.
Des McDaid, managing director at Marcus, said: “Over the last decade savers have been on the wrong end of low interest rates. We’ve spoken in-depth to people across the country and there is a real disillusionment about savings – while most UK adults are diligently trying to save every month, some do not even have a savings account, with low interest rates and complexity being put to blame.
“We want to reverse the trend – literally putting the interest back into savings and make saving worthwhile again.”