Goldman Sachs launches GS Bank, an Internet bank with a $1 minimum deposit

techcrunch.com

11 points·intrasight··9 comments

Raising liquidity for future bail-ins to be compliant with Basel III.

I don't understand how anyone at Goldman could have greenlit this landing page and design.

This product could be a huge deal for Goldman if they marketed it right. If it was a lot more user friendly. If it onboarded users better.

Right now I can't imagine their landing page getting anyone excited enough to sign up.

Definitely no "prestige" feeling here.

Those three (3) Hillary speeches must be absolute mana from heaven because her standard contract includes a client-paid stenographer, in addition to the $200k/ea.

Only fools would give these access-buying, crooks a dime... unless they wish to continue subverting freedom with this plutopsephocracy.

Beside the high interest rate and getting to say you have an account with GS, there's really no upside to this. You don't even get checks. You have to wire money in and out.

"An account with GS" is why I am opening one right now. I wouldn't underestimate.

A high interest rate is a serious upside. Its not uncommon for people to have a primary bank for day to day banking and a secondary bank for savings. The idea is to squirrel away money you don't need into an account you aren't looking at everyday.

If its anything like other online banks then wiring money in and out is incredibly easy.

I can squirrel away money at my current bank. It doesn't require opening a whole new account and I have the money when I need to, guaranteed - no transfer wait. Anything above a small safety savings should be in a money market account anyway. 1% interest is still losing out to 2% inflation.

sure, but for many people having a savings account that is out of sight out of mind helps prevent dipping into it when you don't need to

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