Online-only bank Marcus by Goldman Sachs has launched in the UK.
The new bank has an easy-access savings account which offers an interest rate of 1.5% AER.
The account can be opened with a deposit from £1 to £250,000, and customers can withdraw their money as many times as they like with no fees or charges.
Although the account is managed online, telephone support is available from a customer care team based in the UK.
Telephone support is available on weekdays from 8am-8pm, excluding bank holidays.
Des McDaid, managing director at Marcus by Goldman Sachs (pictured above), 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.”
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