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You can find the current article at its original source at https://www.theguardian.com/uk-news/2018/aug/23/goldman-sachs-to-tempt-britains-savers-with-marcus-account
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| Version 1 | Version 2 |
|---|---|
| Goldman Sachs to tempt Britain's savers with Marcus account | Goldman Sachs to tempt Britain's savers with Marcus account |
| (about 1 month later) | |
| Goldman Sachs is set to enter the UK’s retail banking sector with a market leading rate for savers when the Wall Street lender formally launches its Marcus brand in the UK next month. | Goldman Sachs is set to enter the UK’s retail banking sector with a market leading rate for savers when the Wall Street lender formally launches its Marcus brand in the UK next month. |
| The US banking giant opened the easy access digital savings account to its UK-based employees on Thursday, ahead of a countrywide roll out planned “in the coming weeks”. | The US banking giant opened the easy access digital savings account to its UK-based employees on Thursday, ahead of a countrywide roll out planned “in the coming weeks”. |
| The Marcus brand – named after co-founder Marcus Goldman – will offer a high yield savings rate, above the national average. | The Marcus brand – named after co-founder Marcus Goldman – will offer a high yield savings rate, above the national average. |
| The tester rate for employees has reportedly been set at 1.5%, which would be a market-leading easy access savings rate if launched nationwide. | The tester rate for employees has reportedly been set at 1.5%, which would be a market-leading easy access savings rate if launched nationwide. |
| An internal memo sent to staff did not confirm the interest rate being offered to employees, and cautioned that “the current interest rate offered may be subject to change for the nationwide launch, depending on market conditions”. | An internal memo sent to staff did not confirm the interest rate being offered to employees, and cautioned that “the current interest rate offered may be subject to change for the nationwide launch, depending on market conditions”. |
| Interest rates will stay low for 20 years, says Bank of England expert | Interest rates will stay low for 20 years, says Bank of England expert |
| UK savers have suffered record low interest rates for years; the average is 0.55%, according to Moneyfacts.co.uk. The highest is offered by a branch of Bank of Cyprus UK, which offers 1.41% on an easy access savings account for 12 months before dropping to 0.85%. Virgin Money offers 1.3%. | UK savers have suffered record low interest rates for years; the average is 0.55%, according to Moneyfacts.co.uk. The highest is offered by a branch of Bank of Cyprus UK, which offers 1.41% on an easy access savings account for 12 months before dropping to 0.85%. Virgin Money offers 1.3%. |
| The memo to Goldman Sachs staff said the bank was looking for “feedback before officially going to market”. | The memo to Goldman Sachs staff said the bank was looking for “feedback before officially going to market”. |
| The Marcus launch will mark the brand’s first expansion outside the US and puts it among a small number of digital only banks in the UK, including Starling Bank and Monzo. It has no plans to run bricks-and-mortar branches. | The Marcus launch will mark the brand’s first expansion outside the US and puts it among a small number of digital only banks in the UK, including Starling Bank and Monzo. It has no plans to run bricks-and-mortar branches. |
| Smartphone-only bank Monzo eyes billion-pound valuation | Smartphone-only bank Monzo eyes billion-pound valuation |
| The bank originally launched Marcus in the US in 2016, offering personal loans and savings accounts online. | The bank originally launched Marcus in the US in 2016, offering personal loans and savings accounts online. |
| The Press Association reported last month that the Wall Street giant had hired 150 extra staff in London in preparation for the UK-wide rollout. | The Press Association reported last month that the Wall Street giant had hired 150 extra staff in London in preparation for the UK-wide rollout. |
| It included 100 management, IT and product development workers as well as 50 people for its customer service call centre. | It included 100 management, IT and product development workers as well as 50 people for its customer service call centre. |
| Goldman Sachs | Goldman Sachs |
| Banking | Banking |
| Banks and building societies | Banks and building societies |
| Interest rates | Interest rates |
| news | news |
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