
Goldman Sachs launches GS Bank, an Internet bank with a $1 minimum deposit - intrasight
http://techcrunch.com/2016/04/25/goldman-sachs-launches-gs-bank-an-internet-bank-with-a-1-minimum-deposit/
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emblem21
Raising liquidity for future bail-ins to be compliant with Basel III.

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BukhariH
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.

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spyspy
Definitely no "prestige" feeling here.

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cat-dev-null
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.

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spyspy
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.

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bognition
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.

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spyspy
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.

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bognition
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

