Goldman Sachs Launches Marcus Digital Retail Bank

September 27, 2018

Marcus by Goldman Sachs has launched in the UK with an easy-access savings account. The new online bank intends to offer savers a consistently competitive interest rate, which starts today at 1.50% AER.

Key Products and Specifications:

Account type: Easy-access savings account

Interest rate: 1.5% AER

Notice Term: None

Minimum savings: £1

Maximum savings: £250,000

Account opening: Online

Marcus combines Goldman Sachs’ 149-years of financial expertise and risk management with great customer service and the innovation and approach of an agile tech company to help customers manage their money easily and effectively. Marcus has been available in the US since 2016.

Speaking about the launch, Des McDaid, Managing Director at Marcus by Goldman Sachs 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.

“We’ve made the Marcus Online Savings Account as easy as possible to open and manage online, and with our aim to offer a consistently competitive interest rate, we hope our customers will see the benefits - and how, over time, this can add up to help them get to their saving goals that bit quicker.”

Marcus is named after one of the original founders of Goldman Sachs, Marcus Goldman.

Terms of Use | Copyright © 2002 - 2018 CONSTITUENTWORKS SM  CORPORATION. All rights reserved. | Privacy Statement