Goldman Sachs has officially rolled out its easy access online savings account Marcus in the UK, providing long-suffering savers with a market-beating 1.50% interest rate.
Marcus was first launched in the US in 2016, providing ordinary Americans with an online lending and savings platform as part of a concerted effort by the giant Wall Street broker to diversify into retail services.
Now available to UK residents over the age of 18, savers can deposit from £1 to £250,000 - and withdraw their money as many times as they like, with no fees or charges. The account is managed online, but telephone support is available from a UK-based specialist customer care team week-days from 8am to 8pm.
Des McDaid, managing director at Marcus by Goldman Sachs says: “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."