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.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
OakNorth adds former PRA director to advisory board
OakNorth has appointed Martin Stewart as an independent adviser on its advisory board...
HM Treasury to discuss diversity at FP Show
Representatives from HM Treasury’s Women in Finance Charter team will take part in a panel discussion on the role of diversity targets at the Finance Professional Show...
Aldermore agrees over £200m of new invoice finance facilities
Aldermore has announced that it has delivered over £200m of new invoice finance facilities to UK SMEs in the last 12 months...
CYBG completes acquisition of Virgin Money
CYBG has completed its acquisition of Virgin Money...
Penta raises €7m in latest investment round
Business bank account Penta has announced that it has raised €7m for its Series A investment round...
STB Commercial Finance opens Leeds office
Secure Trust Bank (STB) Commercial Finance has opened a new office in Leeds as it continues its national expansion...
Starling expands payment services and banking-as-a-service offer
Starling Bank is expanding its banking-as-a-service and payment services offer to enable other companies to offer retail banking and make payments...
Tandem launches Journey Card
Digital bank Tandem has launched a new credit card to help users who don’t have a credit history to build a strong profile...
Starling set to launch business accounts for multi-director limited companies
Starling Bank has announced that the bank would soon open its business accounts for limited companies with multiple directors...
Aldermore increases rates on business savings products
Aldermore has increased rates across its fixed rate and customised fixed rate (CFRA) business savings accounts...
Teachers Building Society amends lending criteria
Teachers Building Society has updated and amended its lending criteria to provide intermediaries with a detailed overview of its requirements for both teacher and non-teacher applicants...