Published On: Fri, Jun 12th, 2020

Marcus by Goldman Sachs: Bank reintroduces fixed savings account but there is a big change | Personal Finance | Finance

This week, Managing Director of Marcus by Goldman Sachs, Des McDaid, said: “We are temporarily not accepting new applications for our Marcus online savings account in order to manage our rate of deposit growth.

“This step will allow us to continue providing great value to our existing customers. We remain committed to expanding our UK retail business in future.”

Commenting on the news, Rachel Springall, Finance Expert at Moneyfacts, told “This is disastrous news for savers who are looking for a new account as the returns on offer on many easy access accounts for new customers continue to plummet.

“The average easy access rate on the market has dropped to a record low of 0.30 percent and may well fall further in the weeks to come.

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