Goldman Sachs has revamped its retail banking service to become "Marcus by Goldman Sachs," with online offerings for just about anyone to use.
One element of Marcus is a high-yield savings account, with a 1.50% annual percentage yield and no transaction fees or minimum account balance. There aren't even any fees for money transfers out of a Marcus account.
I have written in the EPJ Daily Alert that it is best to hold cash deposits with the banksters, Goldman Sachs, JPMorgan and Citibank, since these are the most likely to be protected during a financial crisis. Marcus fits in well with this theme.
The Marcus account, however, is not a daily use banking account. The accounts are not connected to any ATM system, and it doesn't have a mobile app. Savers can make only six transfers or withdrawals a month.
-Robert Wenzel
(Source: Business Insider)
Not bad for emergency savings, but isn't it great how 1.5% is a high rate now days.
ReplyDeleteI remember when my checking acct. got that kind of interest, and I'm not that old. 😔
ReplyDelete5% wasn't difficult to get as recently as 2008.
DeleteHadn't check back at this site in a couples years. Now it's dissolved into advertisements for the people that have ruined the country and stolen every dime they could ever get their hands on. Sweet Wenzel.
ReplyDeleteFYI, the advertisements you see on ANY website are based predominately on your own browsing history, and hardly at all on the site you happen to be visiting. You can't blame Wenzel for the ads you see on his site (or any other).
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