Marcus by Goldman Sachs

Overview / Commentary
200 West Street
New York, NY 10282

In December 2017, Goldman Sachs Bank USA re-branded to Marcus by Goldman Sachs - Goldman Sachs Bank USA. Marcus is the name the company had been using exclusively for their online lending business. The deposit offerings renamed the same, but Goldman rolled out a new and improved mobile experience with the new brand.

As of 2008, Goldman Sachs Bank USA, a advertiser, is a commercial bank regulated by the Federal Reserve Board and insured by the Federal Deposit Insurance Corporation (FDIC). Thanks to its transition from an investment bank to a commercial bank, Marcus offers deposit products to both individuals and institutions, including interest-bearing online savings accounts and Certificates of Deposit (CDs). Their online savings accounts feature no minimum initial deposits to open. Their CDs feature relatively low initial deposit requirements, as well as customizable monthly interest disbursements. That is, although interest will automatically be added to the principal of the CD, customers can choose to transfer the interest to their Marcus savings account, or to an external bank account. Customers can also withdraw their interest penalty-free at any time. CD terms range from 6 months to 6 years.

All of Marcus’s deposit accounts feature convenient access to online banking, banking by phone, bank transfers, and wire transfers. Although they are an internet-only bank, funds can also be deposited via mailed checks..

Marcus by Goldman Sachs - Goldman Sachs Bank USA was established in 1990 as The Goldman Sachs Trust Company. The bank is owned by the Goldman Sachs Group, Inc., a multinational firm founded in 1869 and headquartered in New York, NY.

Related Posts

4.15% New APY For Marcus Goldman Sachs - 5/10/2023

The rate went up. Just received email

Marcus Bank Hikes Online Savings Account To 4.15% APY (5.15% With Referral) - 5/9/2023

Marcus Bank by Goldman Sachs Online Savings Account ~ 5.15% APY 4.15% Savings APY + 1.00% Referral Bonus 5.15% For at least 3 months Here's a link to a referral code: No minimum deposit and no fees. No limit to the number of withdrawals or transfers you can make from your Online Savings Account. ACH transfers of $1,000,000 or less made through Marcus by 12 pm ET on a business day, will be transferred to/from other banks by 5 pm ET that same day (All transfers are subject to conditions that may delay funds). Interest is compounded daily and credited monthly to your account. To add or remove a beneficiary, log in to your account and select “Manage beneficiaries.” You can also give us a call, 24 hours a day / 7 days a week, to add or remove a beneficiary. Online Savings

Marcus $100 Credited To Account On May 4 - 5/4/2023

Account shows bonus applied $100

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11/17/20 - Marcus "High" Yield Savings Rate Slashed To 0.50% APY
9/9/20 - Marcus "High" Yield Savings Rate Slashed To 0.60% APY
9/9/20 - Big Drop This Morning From .80% To .60% APY
8/27/20 - Marcus AARP 8-Month No-Penalty CD Rate Slashed To 0.85%
8/4/20 - Marcus Cuts Savings Rate To .80%
7/28/20 - Rate Bonus and Special CD for AARP Members at Marcus by Goldman Sachs
7/23/20 - Marcus Cuts All No Penalty CD Rates
7/23/20 - Marcus Savings Rate Bonus For AARP Members
6/16/20 - Huge Marcus Savings Rate Change
6/16/20 - GS Bank USA Savings Rate Down To 1.05% From 1.30% Today
5/8/20 - Marcus Slashes Savings To 1.30%
5/7/20 - .10% Bonus Rate For AARP Members On Marcus High-Yield Online Savings Account
4/30/20 - 7-Month No-Penalty CD 1.55%
4/18/20 - Goldman Sachs High-Yield CDs Are Internet Bank Rate Leaders
4/15/20 - Online Savings Dropped To 1.55%
4/11/20 - 7-Month No-Penalty CD 1.70%
3/11/20 - CD RATE CUTS EFFECTIVE 03-11-2020
2/21/20 - GS Bank Lowers 11 Month and 7 Month No-Penalty CDs
2/1/20 - Goldman Sachs Bank USA Offers Online Savings Account $100 Bonus
1/3/20 - 11 Month No Penalty CD Rate INCREASE To 2.00% APY
12/12/19 - Goldman Sachs Bank USA Increases Rates On Five Cds
11/19/19 - Marcus Cutting Online Savings Rate From 1.90% To 1.70%
10/19/19 - 7-MONTH NO-PENALTY CD 2.00%
10/4/19 - Marcus Cuts 11 & 13 Mo No Penalty Cds By 15 Bps, Savings Rate Down 10 Bps To 1.9% APY
10/4/19 - Marcus.Com Savings Rate Down To 1.90% APY
9/13/19 - Marcus Cut No Penalty Cds & 1-6 Yr Cds By 15 Bps
8/27/19 - Marcus Cutting Online Savings Rate From 2.15% To 2.00%
8/15/19 - Inverted Yield Curve For No-Penalty Cds
8/9/19 - Marcus.Com 13-Month No Penalty CD Down 20 Bp From 2.35 To 2.15
7/29/19 - No-Penalty 13-Month CD 2.35%
7/19/19 - Goldman Sachs Bank USA Offers Up To $500 Savings Account Bonus
7/16/19 - Goldman's Marcus Bank Offering 1% Deposit Bonus Up To $500
6/28/19 - Goldman Sachs Bank USA Cuts Rates Except the 13-Month No-Penalty CD
6/27/19 - Marcus Cutting Online Savings Rate From 2.25% To 2.15%
3/7/19 - Goldman Sachs Bank USA Offers $100 Online Savings Account Bonus
3/7/19 - Marcus (Goldman) $100 Bonus With $10,000 Deposit (2.25% APY)
1/4/19 - Goldman Sachs Bank USA Ups Rates On Online Savings Account and CDs
1/4/19 - Marcus(Goldman Sachs) Raises Savings Rate To 2.25%
12/11/18 - Goldman Sachs Bank USA Ups Rates on No-Penalty and High-yield CDs
12/11/18 - GSB USA Ups Its 1 To 4 Years CDs A Bit
12/11/18 - 13 Month No Penalty CD 10 Bps Rate Increase To 2.25%
11/27/18 - Goldman Sachs Brokered Cds: 4 Yrs. 3.45%; 5 Yrs. 3.60%
11/20/18 - Goldman Sachs 5-Year Brokered CD, 3.60%; 4-Year At 3.45%
10/26/18 - Goldman Sachs Bank USA Ups Savings Account & Offers No-Penalty CDs
10/26/18 - Marcus Savings Rate Increases To 2.05%
10/25/18 - New 2.15% APY 13 Month No Penalty CD
10/12/18 - Online Savings 1.95% Now
9/19/18 - Goldman Sachs Bank USA Ups Rate On Savings Account
9/19/18 - Savings Upped To 1.90% APY
9/4/18 - Goldman Sachs Bank USA Hikes Rates on Seven High-yield CDs
8/9/18 - Small Rate Hike on Online Savings Account at Goldman Sachs Bank USA
8/9/18 - Small Savings Increase AT Goldman Sachs(Marcus)
7/24/18 - Goldman Sachs Bank USA Increases 12-Month High-Yield CD Rate
7/10/18 - Goldman Sachs 3-Y. Brokered CD: New Issue, 3.05%
6/26/18 - Goldman Sachs Bank USA Increases 5-Year High-Yield CD Rate
6/22/18 - Goldman Sachs Bank USA Hikes Online Savings Account Rate
6/13/18 - Goldman Sachs Bank USA Ups Seven High-yield CD Rates
5/15/18 - Goldman Sachs Bank USA Raises Online Savings Account Rate
5/15/18 - Savings Rate Updated To 1.70%
4/27/18 - Small Rate Hikes on Five CDs at Goldman Sachs Bank USA
4/16/18 - Marcus Raises Savings Rate To 1.60%
4/9/18 - Goldman Sachs Bank USA Hikes Online Savings Account
3/26/18 - Goldman Sachs Bank USA Hikes Rates on Seven of Its CDs
3/26/18 - Goldman Sachs Increases 5 Year CD To 2.75% APY
2/14/18 - Large CD Rate Hikes at Goldman Sachs Bank USA
1/12/18 - Goldman Sachs Bank USA Hikes Savings Account and CD Rates Again
1/12/18 - GS Bank/Marcus Ups Savings Rate To 1.5%
12/28/17 - Savings Account and CD Rate Hikes at Goldman Sachs Bank USA
12/28/17 - GS Bank Ups Its Online Saving To 1.4% From 1.3% APY Today
12/28/17 - 5 Yr CD Rate Increase
11/22/17 - GS Bank Being Rebranded To Marcus by Goldman Sachs
10/12/17 - GS Bank Increases Online Savings Account Rate
10/12/17 - GS Bank Savings Rate Is Now 1.3% APY
10/3/17 - Goldman Sachs Increases 1 Yr CD Rate
10/3/17 - GS Bank Ups Rates on Four CDs
8/31/17 - GS Bank Ups CD Rates with Largest Gains on Long-Term CDs
8/31/17 - Increases In CD Rates
6/7/17 - GS Bank’s First Rate Increase of Its Online Savings Account
6/7/17 - Goldman Sachs Raising Savings Rate To 1.20%
5/4/17 - GS Bank Raises CD Rates for the Second Time in the Last Month
4/5/17 - GS Bank Increases CD Rates
7/17/16 - GS Bank (USA) Drops 5-Year CD Rate
7/8/16 - 12-Month CD Rate
4/19/16 - GS Bank - the New Internet Bank from Goldman Sachs
4/18/16 - GS Bank Acquires GE Capital Bank's Deposit Business
8/18/15 - Savers Could Benefit From Goldman Buy

Reviews (262)

No Problems Here

Not sure why the negative reviews. No bank can steal money, they would not be FDIC insured. I am guessing you might have a loan with them and you are not repaying that loan as contracted there might be terms and conditions to hold your money. Think people think.

Overall OK

Been using Marcus high yield savings for a couple of years with no major complaints. When I transfer money out of account via ACH to my BOA checking account the transaction is always done in no more than 1 business day. Only issue occurs when using online site and trying to transfer out more than $125,000 in one transaction...then the questions begin .Heard they might be changing their limits for withdrawals in the future.

Marcus Withdrawals

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I requested a $350 transfer to my local bank. There was a pop-up form asking me why I was withdrawing this money. Mostly something annoying on their website. I'm putting money into Vanguard now and no more money goes into Marcus.

Trouble Transferring Funds To Linked Account

Posted by: |

I’ve had an account with Marcus bank for several years now and had no complaints with the bank until recently. A few weeks ago, I initiated a transfer to a linked account at another bank that was well below the daily limit. Later that day, my husband received a phone call about the transfer. The CSR claimed that they wanted to make sure that he authorized the transfer, which is odd since it is a joint account. The next day, I logged into the account to make sure that the transfer went through and saw that Marcus had reversed the transfer. I talked to a CSR on chat and another one via phone and both of them told me that they couldn’t talk with me about the transfer. They could only talk to my husband about it. Since this is a joint account and they had already talked to my husband the day before about this same transfer, this made absolutely no sense to me. My husband wasn’t around at the time so I demanded to talk to a supervisor. The supervisor claimed that the transfer was reversed because they needed to do a 3 way call with our bank to verify that the account was ours. If this is true, why didn’t they tell my husband about this the day before when they called him about the transfer and why is a verification phone call needed when test deposits had already been verified to prove ownership of our account? After the supervisor talked with our bank, they finally approved the transfer and the funds hit our external bank the next day. Total time wasted while chatting with Marcus about this transfer was approximately 2 hours. I don’t trust Marcus after this so I plan on closing the account soon.



Health Grade Components

FDIC Certificate #33124
Year Established1990
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.35%
Return on Equity - YTD13.41%
Annual Interest Income$6.51B
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$490.8B$474.6B
LoansQ1 2023vs Q1 2022$157.1B$143.5B
DepositsQ1 2023vs Q1 2022$337.2B$329.6B
Equity CapitalQ1 2023vs Q1 2022$50.38B$43.86B
Loan Loss AllowanceQ1 2023vs Q1 2022$3.81B$2.97B
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$2.53B$1.68B
Real Estate OwnedQ1 2023vs Q1 2022$0$0
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Marcus by Goldman Sachs Savings Account Rates

4.15%-$1mOnline Savings Account

Marcus by Goldman Sachs CD Rates

5.05%$500$1m10 Month CD Special
4.75%$500$1mHigh-yield 12 Month CD
4.75%$500$1mHigh-yield 18 Month CD
4.35%$500$1mHigh-yield 2 Year CD
4.35%$500-20 Month Rate Bump CD
4.30%$500$1mHigh-yield 9 Month CD
4.30%$500$1mHigh-yield 3 Year CD
4.25%$500$1mHigh-yield 6 Month CD
4.25%$500$1m13 Month No-Penalty CD
4.00%$500$1mHigh-yield 4 Year CD
3.80%$500$1mHigh-yield 5 Year CD
3.70%$500$1mHigh-yield 6 Year CD
0.45%$500$1m7 Month No-Penalty CD
0.35%$500$1m11 Month No-Penalty CD

Marcus by Goldman Sachs is an Internet only bank and does not have branch locations. Its headquarters is located at 200 West Street - New York, NY 10282

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