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 "High" Yield Savings Rate Slashed To 0.50% APY - 11/17/2020

"...Marcus Online Savings Account has been adjusted to 0.50% from 0.60% APY (Annual Percentage Yield)". The trend continues.

Marcus "High" Yield Savings Rate Slashed To 0.60% APY - 9/9/2020

Old rate: 0.80% APY Source: Apologies, I see now that this is a duplicate post!

Big Drop This Morning From .80% To .60% APY - 9/9/2020

This drop cues Ally to do the same.

View all posts from:

12/11 - Goldman Sachs Bank USA Ups Rates on No-Penalty and High-yield CDs
12/11 - GSB USA Ups Its 1 To 4 Years CDs A Bit
12/11 - 13 Month No Penalty CD 10 Bps Rate Increase To 2.25%
11/27 - Goldman Sachs Brokered Cds: 4 Yrs. 3.45%; 5 Yrs. 3.60%
11/20 - Goldman Sachs 5-Year Brokered CD, 3.60%; 4-Year At 3.45%
10/26 - Goldman Sachs Bank USA Ups Savings Account & Offers No-Penalty CDs
10/26 - Marcus Savings Rate Increases To 2.05%
10/25 - New 2.15% APY 13 Month No Penalty CD
10/12 - Online Savings 1.95% Now
9/19 - Goldman Sachs Bank USA Ups Rate On Savings Account
9/19 - Savings Upped To 1.90% APY
9/4 - Goldman Sachs Bank USA Hikes Rates on Seven High-yield CDs
8/9 - Small Rate Hike on Online Savings Account at Goldman Sachs Bank USA
8/9 - Small Savings Increase AT Goldman Sachs(Marcus)
7/24 - Goldman Sachs Bank USA Increases 12-Month High-Yield CD Rate
7/10 - Goldman Sachs 3-Y. Brokered CD: New Issue, 3.05%
6/26 - Goldman Sachs Bank USA Increases 5-Year High-Yield CD Rate
6/22 - Goldman Sachs Bank USA Hikes Online Savings Account Rate
6/13 - Goldman Sachs Bank USA Ups Seven High-yield CD Rates
5/15 - Goldman Sachs Bank USA Raises Online Savings Account Rate
5/15 - Savings Rate Updated To 1.70%
4/27 - Small Rate Hikes on Five CDs at Goldman Sachs Bank USA
4/16 - Marcus Raises Savings Rate To 1.60%
4/9 - Goldman Sachs Bank USA Hikes Online Savings Account
3/26 - Goldman Sachs Bank USA Hikes Rates on Seven of Its CDs
3/26 - Goldman Sachs Increases 5 Year CD To 2.75% APY
2/14 - Large CD Rate Hikes at Goldman Sachs Bank USA
1/12 - Goldman Sachs Bank USA Hikes Savings Account and CD Rates Again
1/12 - GS Bank/Marcus Ups Savings Rate To 1.5%

Reviews (178)

Recent change to Marcus was not a great move

The interest rates are very competitive, and the phone customer service has good availability. The problem is that they recently changed the website to, which has all of these fancy graphics but is actually much more difficult to use than the old It's not a dealbreaker, but it still sucks that the bank management people don't understand that huge text and fancy graphics don't make the website a better user experience.

Terrible Web Experience

Posted by: |

I have just about had it with Marcus by Goldman Sachs's outdated and clunky website. It is extremely slow and keeps logging me out a few seconds after logging in each time. Opening a CD online takes forever! Navigating between different screens will make you want to scream! I have better things to do than sit and watch the little "M" and the spinning circle around it for minutes (!) each time I click on a button. This website design and functionality belong to the days of the dial-up modem and should have been revamped a long time ago. I don't have any of these issues with any other bank's website, so I know it is not anything to do with my computer or browser.

I haven't had any problems with Marcus's banking products or customer service but the web experience is a huge negative. Marcus should get its website modernized and responsive or it will lose customers.

Overloaded Website, Buggy Software, Inaccurate Information

Posted by: |

I have been using Marcus since the beginning of 2015 without too many problems. However recently I ran into serious issues when I attempted to redeem 2 no penalty CD's with them. On 10/12/2020 I was able to redeem 2 NPCD's that matured on 10/12/2020 and immediately transfer their balances to my savings account. However when I attempted to redeem 2 other NPCD's that matured on 10/11/2020 (and were within their grace periods), my money ended up stuck in limbo. As of the morning of 10/15/2020 my money is still unavailable. Apparently the rules for redeeming a no penalty CD on the day of it's maturity are different than the rules for redeeming 1 day after maturity (within the grace period).

The Marcus website is also very slow and unstable - I was logged out multiple times when I tried to redeem my 4 CD's. I also found it hard to get reliable information from customer service about what my expectations should be relative to the timing of money movements.

While Marcus has competitive interest rates, the other aspects of doing business with them are frustrating and unpleasant. They clearly do not care much about how they treat their deposit customers. If you value reliable and predictable access to your funds I would NOT bank with Marcus.

Moral of the story:

If you open a CD with Marcus be sure to tell Marcus that they should close the CD when it matures. Otherwise you will lose access to your money if you try to redeem the CD in it's grace period.

Marcus Goldman Sachs Bank

I had a no penalty CD account for about 2 months. I wanted to close account. I used help with their chat on there site to close account online. It went through and the message said it will go through in 1 to 2 business days. I checked in the account where the funds were supposed to go and there was nothing. I went to my online account which showed an entry of transfer on Sept 2, 2020 and another entry on Sept 4, 2020 to reverse it back. I also had an e mail on Sept 3, 2020 that my account is closed. I called several times and talked to several supervisors and manager and was on phone for hours at a time. They even wanted to verify my original deposit with me on conference call to authorize my bank to check that money came from my own account. It was finally closed on Sept 8, 2020. I will never put my money in this institution. Everybody should stay away from this bank.



Health Grade Components

FDIC Certificate #33124
Year Established1990
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.34%
Return on Equity - YTD3.05%
Annual Interest Income$4.26B
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$277.9B$211.8B
LoansQ3 2020vs Q3 2019$86.38B$79.26B
DepositsQ3 2020vs Q3 2019$218.8B$149.8B
Equity CapitalQ3 2020vs Q3 2019$29.84B$28.88B
Loan Loss AllowanceQ3 2020vs Q3 2019$2.37B$746.0MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$2.15B$501.0MM
Real Estate OwnedQ3 2020vs Q3 2019$13.0MM$23.0MM
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Marcus by Goldman Sachs Savings Account Rates

0.50%-$3mHigh-yield Online Savings Account

Marcus by Goldman Sachs CD Rates

0.70%$500$1mHigh-yield 5 Year CD
0.70%$500$1mHigh-yield 6 Year CD
0.65%$500$1mHigh-yield 12 Month CD
0.65%$500$1mHigh-yield 18 Month CD
0.65%$500$1mHigh-yield 2 Year CD
0.65%$500$1mHigh-yield 3 Year CD
0.65%$500$1mHigh-yield 4 Year CD
0.55%$500$1m7 Month No-Penalty CD
0.45%$500$1m11 Month No-Penalty CD
0.35%$500$1mHigh-yield 9 Month CD
0.35%$500$1m13 Month No-Penalty CD
0.25%$500$1mHigh-yield 6 Month 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.