Saturday, 22 September 2018

US investment bank Goldman Sachs wants your piggy bank

A new savings bank hits the UK next week, but it's far from being a new company.

Marcus is part of the mighty Goldman Sachs - the US investment bank once dubbed the "vampire squid".

Its move into the UK comes as no surprise. Its US savings bank, which was set up two years ago, has been a big success, attracting $20bn (£15bn) of savings.

But will the bank's launch be a damp squib, or mark a sea-change for the UK savings market?
Marcus is named after Marcus Goldman who founded Goldman Sachs in 1869.
The company has promised it will "offer savers an easy-access online savings account that pays a competitive rate of interest on balances from £1 to £250,000."

It says customers will be able to make as many withdrawals as they like - "free of charge and with no penalty".

BBC      News.

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