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Goldman Sachs Bank USA


Overview / Commentary
212-902-1000
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 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.

Related Posts

Goldman Sachs Bank USA Offers Up To $500 Savings Account Bonus - 7/19/2019

Goldman Sachs Bank USA (Marcus) has recently launched a new savings account promotion which allows you to earn a 1% cash bonus for up to $500.

Goldman's Marcus Bank Offering 1% Deposit Bonus Up To $500 - 7/16/2019

Deposit $1,000 or more in new funds into a new or existing account within 10 business days of enrollment in the offer, maintain your balance at enrollment plus the new funds for 90 days, and we’ll give you a 1% cash bonus up to $500. Current interest rate is 2.15% and likely to drop during the mandatory holding period. MUST ENROLL IN OFFER PRIOR TO DEPOSITING FUNDS. Perhaps this is a consequence of the preemptive rate reductions by Marcus and its competition. https://www.marcus.com/us/en/savings/cashbonus?prd=o

Goldman Sachs Bank USA Cuts Rates Except the 13-Month No-Penalty CD - 6/28/2019

Just three days after Ally cuts the rate of its savings account, Goldman Sachs Bank USA (Marcus) has done the same thing with its own rate cut.

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 (152)

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 Marcus.com, which has all of these fancy graphics but is actually much more difficult to use than the old gsbank.com. 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.

FAST WIRE TRANSFER

Posted by: retirednc | Jul 19, 2019

Kudos to GS for good service on their free wire transfer. I phoned at 3:55pm to move a substantial amount to an outside financial institution, and GS complete the transfer that same day.

CD Renewal Process Is Pitiful

Posted by: carly | Apr 22, 2019

My first (of 5) CD's just came due yesterday. There is NOTHING on their website to renew--other banks have options to do it online.

So I called today to change my 18-month to a 12-month. You can't do that. What about adding extra money from my Marcus Online Savings? You can't do that either.

I ended up having to close the CD and re-open a new CD--with the whole approval process, must sign and return signature card, etc.--just to roll over the CD.

The rates are fine. The process worked, so I'm not leaving them. But it was a lot messier than it should have been.

Run From This Bank

Posted by: user2424 | May 16, 2019

Tried to open an online account. Answered all their personal questions they put to me. Was told to call this number, I did so. Was told they couldn't open the account, but would not give me a reason why? When I asked her for the reason, she just hung up on me??
I was going to transfer $50,000 from my no-interest bank into a high-interest online account. They are rude and condescending. It's no wonder these morons went bankrupt in 2008-2009. I'm actually so happy it did not go through because I found a real online high-interest bank in American Express.

VIEW MORE REVIEWS

Health
A+

Health Grade Components

Overall
FDIC Certificate #33124
Year Established1990
Employees1912
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD5.92%
Annual Interest Income$1.81B
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$195.9B$171.7B
LoansQ1 2019vs Q1 2018$76.06B$63.43B
DepositsQ1 2019vs Q1 2018$145.1B$124.1B
Equity CapitalQ1 2019vs Q1 2018$28.13B$26.09B
Loan Loss AllowanceQ1 2019vs Q1 2018$693.0MM$365.0MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$289.0MM$338.0MM
Real Estate OwnedQ1 2019vs Q1 2018$28.0MM$24.0MM
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Goldman's Marcus Bank Offering 1% Deposit Bonus Up To $500

MAKNYC   |  
Deposit $1,000 or more in new funds into a new or existing account within 10 business days of enrollment in the offer, maintain your balance at enrollment plus the new funds for 90 days, and we’ll give you a 1% cash bonus up to $500. Current interest rate is 2.15% and likely to drop during the mandatory holding period. MUST ENROLL IN OFFER PRIOR TO DEPOSITING FUNDS.

Perhaps this is a consequence of the preemptive rate reductions by Marcus and its competition.

https://www.marcus.com/us/en/savings/cashbonus?prd=o

Marcus Cutting Online Savings Rate From 2.25% To 2.15%

NTPanaccio   |  
Nothing public on Marcus’s site, but many of us received emails stating that the savings rate would be dropping to 2.15% tomorrow.

Rates
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Always verify rates and promotions with the bank or credit union. We are not Goldman Sachs Bank USA; we are a rate comparison website and cannot provide official rates or promotions.

Goldman Sachs Bank USA Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.15%-$1mHigh-yield Online Savings Account

Goldman Sachs Bank USA CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.85%$500$1mHigh-yield 6 Year CD
2.80%$500$1mHigh-yield 5 Year CD
2.65%$500$1mHigh-yield 4 Year CD
2.60%$500$1mHigh-yield 3 Year CD
2.55%$500$1mHigh-yield 2 Year CD
2.50%$500$1mHigh-yield 12 Month CD
2.50%$500$1mHigh-yield 18 Month CD
2.35%$500-13 Month No-Penalty CD
2.20%$500-11 Month No-Penalty CD
2.15%$500-7 Month No-Penalty CD
0.70%$500$1mHigh-yield 9 Month CD
0.60%$500$1mHigh-yield 6 Month CD
Locations

Goldman Sachs Bank USA 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.