The account may be a loss leader for them. It's definitely a legit bank; used to be owned by TIAA, and was called TIAA Bank for a while. They've tracked the fed rate for the whole year, so it's not a special temporary deal. The current rate only applies to new accounts; no idea how well established accounts track the rate.

Marcus, which is GS Bank, is certainly a retail product aimed at consumers.

Capital One, Discover, Ally, etc. were offering 4.35% at the peak. Not quite as good, but very decent for a savings account.

I don't know where you would draw the line under "major", though. But everyone knows BoA, WF, and Chase are trash when it comes to savings rates. They don't do it.

In Europe, HSBC (which is comparable in size to Chase and BoA) has reliably high saving accounts rates. HSBC UK was offering 5% until recently, I believe.

US Bank[1] which is the second oldest and fifth largest[2] US bank currently has 3.5% on their Money Market account which is basically an HYSA.

[1]: https://www.usbank.com/bank-accounts/savings-accounts/elite-...

[2]: https://en.wikipedia.org/wiki/U.S._Bancorp

> the largest banks for typical consumers like Bank of America or Wells Fargo or Chase

These banks are up front about not competing on rates.