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 DepositAccounts.com 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.
Hola,
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.
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.
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.
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.
Overall | |
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FDIC Certificate # | 33124 |
Year Established | 1990 |
Employees | 4896 |
Primary Regulator | FED |
Profit Margin | |
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Return on Assets - YTD | 1.35% |
Return on Equity - YTD | 13.41% |
Annual Interest Income | $6.51B |
Assets and Liabilities | ||
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Assets | Q1 2023vs Q1 2022 | $490.8B$474.6B |
Loans | Q1 2023vs Q1 2022 | $157.1B$143.5B |
Deposits | Q1 2023vs Q1 2022 | $337.2B$329.6B |
Equity Capital | Q1 2023vs Q1 2022 | $50.38B$43.86B |
Loan Loss Allowance | Q1 2023vs Q1 2022 | $3.81B$2.97B |
Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $2.53B$1.68B |
Real Estate Owned | Q1 2023vs Q1 2022 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Marcus by Goldman Sachs; we are a rate comparison website and cannot provide official rates or promotions.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
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4.15% | - | $1m | Online Savings Account |
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