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

Marcus CD Rate Changes For 1-25-2023 - 1/25/2023

Marcus CD rate changes for 1-25-2023 include: 1-year CD @ 4.40% (was 4.30%) 13-month NP CD @ 3.85% (was 3.50%) 18-month CD @ 4.75% (was 4.40%) 2-year CD @ 4.35% (no change) 3-year CD @ 4.00% (no change) 4-year CD @ 4.00% (no change) 5-year CD @ 3.80% (no change) 6-year CD @ 3.70% (no change) To view all Marcus CD rates see:

Marcus by Goldman Sachs Brings Back $100 Online Savings Bonus for 2023 - 1/20/2023

Now through February 15, 2023, Marcus by Goldman Sachs is offering a $100 bonus when depositing $10k or more of new money in a new or existing Online Savings Account.

Marcus Online Savings Account – $100 Cash Bonus Offer Terms - 1/19/2023

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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 (238)

Web Portal Is Very Well Designed

Posted by: |

First, not sure what all the negative reviews. Lot's of them have grammatical errors, so maybe their understanding of backing systems is also challenging.

I've wired funds from by credit union several times and the deposit to my Marcus savings account occured the next business day. I was then able to fund new CD accounts via their website and the funds transferred immediately from my Marcus savings to my new Marcus CD.

Website is easy to navigate and I do like the ability to manage your CD maturity plan for each CD right on the website.

Rates are great so I park my money here and every so often I will transfer money to my full service bank with an external transfer I had set up.

Never had to speak to a representative on the phone, just via chat. This bank has worked fine for my needs.

Overall Good Returns 4.40% APY, Satisfied In Long Term

I have been a client since they started. My honest opinion is that they have issues if you move money a lot, you will have to verify your external accounts on a call and such. Otherwise they are decent. They give free Wire Transfers which hardly any bank gives and their ACH is also pretty fast. I see lot of complaints regarding the low rate but there are ways to fix that if you see below. The other option is to keep opening new accounts with the small banks. They give good rate for a while but then dont keep up and it becomes a pain to keep switching.

They are running something for additional hundred dollars if you bring in ten thousand in new money and keep for ninety days. Just google "marcus $100 savings bonus" and you will see lot of results, this site doesnt like links I think.
You can also get an extra one percent in your interest rate if you open the account the way mentioned below.
For the extra 1%, got to "marcus" dot "com", then slash, then "share", then slash, then "SAN", then dash, then "PVH", then dash, then "1BHH"
You can also get an extra point one percent :) with an AARPmembership which is pretty cheap.
So the overall rate becomes four point four zero percent which the highest these days for savings accounts. You can create an account here and message me if you have any questions.

Marcus Similar Experience

I am also a long time customer with Marcus and have had similar issues attempting to transfer funds OUT of Marcus. First an email says that the funds were transferred. Then an alert arrives to call Marcus. This has happened twice. Each time I must spend over 30 minutes on the phone re verifying that I am me, and then listening to an explanation of how the accounts that I verified were not really verified. It is scary that this bank which seemed very customer friendly at first, puts up signficant road blocks when customers try to tranfer money to a different bank. This is NOT a good banking practice. You can report the bank to the Federal Reserve. They have an easy form.


So I had came across the high yielding savings account 3 days ago. Skeptical, I linked my primary bank account via Plaid continued to fund my account. No problem. I was told because my account is new I'd have to wait a week before the funds became accessible but I'd still be earning interest on the deposit. Completely understand, everything is on the up and up. 2 days pass by & I try to login to check my account, but was told my account was locked & I needed to call customer service. On the phone I was told because of "Verification Issues" the transfer I've made will be reversed to my bank once it clears their own hold which is a week! Not only that but once my account is empty they will force close it. No more details were given & the customer service agent wouldn't transfer me to the specialist she was getting this information from. Very appalling to have my account for virtually no reason benounced to me. More frustrating is the transferring and holding waiting on my own money due to this discord.



Health Grade Components

FDIC Certificate #33124
Year Established1990
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.68%
Return on Equity - YTD7.38%
Annual Interest Income$4.11B
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$501.9B$351.2B
LoansQ2 2022vs Q2 2021$154.6B$103.7B
DepositsQ2 2022vs Q2 2021$348.8B$282.2B
Equity CapitalQ2 2022vs Q2 2021$44.50B$32.00B
Loan Loss AllowanceQ2 2022vs Q2 2021$3.39B$2.12B
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$1.13B$1.87B
Real Estate OwnedQ2 2022vs Q2 2021$0$7.0MM
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Marcus by Goldman Sachs Savings Account Rates

3.30%-$3mOnline Savings Account

Marcus by Goldman Sachs CD Rates

4.75%$500$1mHigh-yield 18 Month CD
4.40%$500$1mHigh-yield 12 Month CD
4.35%$500$1mHigh-yield 2 Year CD
4.35%$500-20 Month Rate Bump CD
4.00%$500$1mHigh-yield 3 Year CD
4.00%$500$1mHigh-yield 4 Year CD
3.95%$500$1mHigh-yield 9 Month CD
3.85%$500$1m13 Month No-Penalty CD
3.80%$500$1mHigh-yield 5 Year CD
3.75%$500$1mHigh-yield 6 Month 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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.