Coming soon, Goldman Sachs account you can open with £1

ORDINARY British savers will be able to bank with Goldman Sachs for the first time when it launches a marketleading account this week.

The Wall Street giant will offer savers an interest rate of 1.5 per cent through a new service called Marcus, which goes live on Thursday morning.

This will catapult it to the top of the bestbuy table, ahead of the current leading easy access savings rate of 1.41 per cent offered by Yorkshire Building Society.

Goldman is an investment banking titan that has traditionally offered its services only to the world’s biggest companies and richest individuals. But savers need as little as £1 to open an account with Marcus.

The service is named after founder Marcus Goldman, who set up the bank in 1869. It will pay base interest of 1.35 per cent, plus a 0.15 per cent bonus for 12 months, which customers will be able to renew.

Marcus will be an online-only service but has a call centre in London to deal with any queries. It will allow customers to make unlimited withdrawals every year – unlike many rival easy access accounts.