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 $100 Online Savings Account Bonus - 3/7/2019

Goldman Sachs Bank USA (now operating under the brand Marcus by Goldman Sachs) has recently launched an online savings account promotion.

Marcus (Goldman) $100 Bonus With $10,000 Deposit (2.25% APY) - 3/7/2019

https://www.marcus.com/us/en/savings/osa-savingsbonus#offer Not the most amazing bonus in the world, but possibly of interest to some. $100 bonus for new or existing Marcus (Goldman) customers with $10,000 in new funds and maintain that balance for 90 days. 2.25% APY on your money also. Must enroll by 3/18/19. Comes out to about an extra $94 versus a 2.5% savings account.

Goldman Sachs Bank USA Ups Rates On Online Savings Account and CDs - 1/4/2019

Goldman Sachs Bank USA (now operating under the brand Marcus by Goldman Sachs) increased the rate of its Online Savings Account by 20 bps to 2.25% APY.

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 (148)

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.

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.

Marcus SHMARCUS.

GS Bank was great. SInce the rebranding to Marcus the online banking experience has gone downhill. The website is just plain awful. It's tedious to navigate and slow. Hopefully Marcus execs read the complaints and make changes PRONTO.

Very Hard To Wire Money Out Of Marcus Bank

Posted by: lapp15 | May 9, 2019

I have been a customer for a few years and I was generally happy until I wanted to wire money out. Either because of poor training or poor controls, but every day there is another reason why they cannot wire my money out. First I was told that I can't use the linked account that was the source of wires in to the Marcus account because they could not (all-of-a-sudden) confirm my ownership. Then, I was told that I could either mail in a statement from the linked account or use any other account other than the linked account. Then, the wire did not work for a different account because, again, they could not confirm ownership. I was next told that they would call the linked account bank to confirm my ownership but I was told that, after multiple attempts, no one would pick up the phone. So, I called and someone picked up immediately. I then gave the Marcus person the contact info of the other bank person. Now, after around 4 days and maybe 6 calls, I am waiting to see if the wire is being executed today. This is extremely frustrating. Previously, a wire took so long that someone at Marcus called me to apologize and gave me $50 for my inconvenience.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #33124
Year Established1990
Employees1805
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.21%
Return on Equity - YTD8.02%
Annual Interest Income$5.81B
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$191.5B$164.5B
LoansQ4 2018vs Q4 2017$75.98B$59.08B
DepositsQ4 2018vs Q4 2017$137.5B$115.7B
Equity CapitalQ4 2018vs Q4 2017$27.72B$25.55B
Loan Loss AllowanceQ4 2018vs Q4 2017$617.0MM$354.0MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$410.0MM$293.0MM
Real Estate OwnedQ4 2018vs Q4 2017$26.0MM$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.

Marcus (Goldman) $100 Bonus With $10,000 Deposit (2.25% APY)

RickZ   |  
https://www.marcus.com/us/en/savings/osa-savingsbonus#offer

Not the most amazing bonus in the world, but possibly of interest to some. $100 bonus for new or existing Marcus (Goldman) customers with $10,000 in new funds and maintain that balance for 90 days. 2.25% APY on your money also. Must enroll by 3/18/19. Comes out to about an extra $94 versus a 2.5% savings account.

Rates
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Goldman Sachs Bank USA Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.25%-$1mHigh-yield Online Savings Account

Goldman Sachs Bank USA CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.05%$500$1mHigh-yield 6 Year CD
3.00%$500$1mHigh-yield 5 Year CD
2.75%$500$1mHigh-yield 4 Year CD
2.70%$500$1mHigh-yield 12 Month CD
2.70%$500$1mHigh-yield 3 Year CD
2.65%$500$1mHigh-yield 2 Year CD
2.60%$500$1mHigh-yield 18 Month CD
2.35%$500-13 Month No-Penalty CD
2.30%$500-11 Month No-Penalty CD
2.25%$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.