Goldman Sachs launches UK savings bank
Goldman Sachs has launched an online retail bank in the UK, offering an easy access online savings account with an initial interest rate of 1.5%.
"The launch of Marcus in the UK represents an important milestone in the growth of Goldman Sachs’s consumer business"
Accounts are currently available to Goldman Sachs' 6,000 employees in the UK and are expected to be available to the general public from next month.
The bank, Marcus, is named after founder Marcus Goldman and opened in the US in 2016.
An internal memo to staff noted that “the current interest rate offered may be subject to change for the nationwide launch, depending on market conditions”.
The memo said the launch of Marcus in the UK “represents an important milestone in the growth of Goldman Sachs’s consumer business, as well as continued diversification of the firm’s funding”.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Blogs
Mark Eaton: Is 2026 the year brokers die out?
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: NationwideÂ
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Vida
Vida launches high LTV 'Pathway' mortgage range
FCA
Tribunal upholds £2m FCA fine for 'corrupt and dishonest adviser'
Melton Building Society
Melton BS launches 100% LTV mortgageÂ
