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Goldman Sachs mulls more banking services for online deposit-taking platform

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Goldman Sachs mulls more banking services for online deposit-taking platform

Goldman SachsGroup Inc. is considering additional banking services for its newonline deposit-taking platform, The WallStreet Journal reported April 27, citing "people familiar with thematter."

The company is looking to add checking accounts andelectronic-bill payments to the platform to expand beyond the three productscurrently featured, which includes a savings account and two certificates ofdeposits, according to the report.

The deposit-taking website was launched in the week of April18 after the company closed its acquisition of General Electric Capital Corp.'s online depositplatform. The platform attracted thousands of new customers, resulting in thecompany taking steps to handle more traffic on the sites, including addingtemporary workers at its call center, the Journalreported.

The maximum amount new customers can add to their depositaccounts was lowered by Goldman Sachs to $250,000 from the $1 million allowedby GE Capital. The move aims to moderate the intake of new funds and complywith rules that prohibit the banks from allowing the customers to stockpilemore cash than what is federally insured, the news outlet said.