After a month of staff trials, Goldman Sachs has officially entered the UK market through its Marcus digital banking brand, which was first launched in the US two years ago.
Marcus – named after one of the bank’s founders Marcus Goldman – is a consumer bank with a minimum saving level of £1 with a maximum of £250,000, according to latest reports.
Savers can withdraw money in any way they like with no penalties. The easy-access account will also pay a 1.5 per cent interest.
The managing director of Marcus, Des McDaid, added: “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.”