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 Rate Increases - 9/22/2022

Marcus has finally gotten off their bum and increased their rate on the Online Savings to 2.15% APY and to 2.20% APY on the 13 month NPCD.

Marcus Finally Increases OSA To 1.90% - 9/9/2022

Marcus' website shows the new 1.90% rate up from 1.70%.

Marcus CD Rate Changes As Of 8-24-2022 - 8/25/2022

Marcus CD rate changes as of 8-24-2022 include: 1-year CD @ 2.70% (was 2.40%) 18-month CD @ 2.80% (was 2.60%) 2-year CD @ 3.00% (was 2.80%) 3-year CD @ 3.10% (was 2.90%) 4-year CD @ 3.15% (was 3.00%) 5-year CD @ 3.25% (no change) 6-year CD @ 3.25% (no change) To view all Marcus CD rates see:

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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 (221)

Trouble Free Experience

I just redeemed a two year CD and am pleased with my experience.
When I purchased the CD online the application process was flawless. But after reading some of the negative reviews, I was wondering if I would have a problem redeeming the CD when it matured.
I set the option to close the CD and have the funds transferred to my outside bank account.
On the day that the CD matured, the funds were in my account that afternoon.
During my round trip transaction, I did not once have to seek the help of customer service.

Start Being Competitive

When will Marcus move to the head of the class with their CD rates????? I have been an account holder for many years with both CDs and High Yield Savings. I’m starting to move my money to on line banks that are leaders of the pack!!!!

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.

NOT Happy Today

Posted by: |

I’ve had an account at Marcus for years but what happened today really infuriated me and I will now close my account. Similar to the previous reviewer, this morning I requested an ACH transfer of 30,000. to my linked account at CIT to take advantage of CIT’s higher rate. I received a call and voice mail this afternoon asking me to call Marcus. While I was on hold I tried to log in to my Marcus account and I was locked out. After being transferred to another department I was told that they could not verify with their system that the account at CIT belonged to me. Why did they approve the linking of the account if they weren’t sure it belonged to me? That does not make sense. I was told they had to do a three way call with CIT to verify I was the account owner but the hold time at CIT was 58 minutes so the rep at Marcus said he could unlock my account if he could unlink and delete my CIT account so I can no longer make transfers to that particular bank. He said the 30,000. will be back in my account tomorrow. When it is back in the Marcus account the whole balance will moved and the account will be closed. Who needs this kind of headache? I’m done with Marcus. I will post an update if the money is not back in my account tomorrow.



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

2.15%-$3mOnline Savings Account

Marcus by Goldman Sachs CD Rates

3.30%$500$1mHigh-yield 5 Year CD
3.30%$500$1mHigh-yield 6 Year CD
3.20%$500$1mHigh-yield 4 Year CD
3.15%$500$1mHigh-yield 3 Year CD
3.10%$500$1mHigh-yield 2 Year CD
3.00%$500$1mHigh-yield 12 Month CD
3.00%$500$1m18 Month CD
2.20%$500$1m13 Month No-Penalty CD
2.10%$500$1m9 Month CD
2.00%$500$1mHigh-yield 6 Month 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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