Goldman Sachs is opening up to the mass market by offering online savings accounts to anyone with more than $1.
The Financial Times reports the bank launched GSBank.com last week, via a platform it took over by buying a $16bn (£11bn) deposit book from GE Capital.
Goldman Sachs chief strategy officer Stephen Scherr says the goal is to increase the sources of funding for GS Bank.
Until now, the Goldman arm has concentrated on wholesale funding and bulk sums that banks buy from brokers for high interest rates.
The bank is offering annual interest rates of 1.05 per cent on its savings accounts.
Goldman acquired 145,000 retail customers with the deal, and now wants more.
The move breaks 150 years of tradition for the bank to offer its services exclusively to the wealthy.
Generally weak Q1 results from large US banks have shown their investment banking arms are struggling with competition and regulation.
Goldman posted Q1 returns on equity of 6.4 per cent for the first three months of 2016, the lowest for four years.