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 Cuts Savings Rate To .80% - 8/4/2020

Received email from Marcus cutting savings rate down to .80% (.90% for AARP members)

Rate Bonus and Special CD for AARP Members at Marcus by Goldman Sachs - 7/28/2020

Marcus by Goldman Sachs has two good deals for AARP members. The first is a rate bonus for the Marcus Online Savings Account. The second is an 8-month No-Penalty CD.

Marcus Cuts All No Penalty CD Rates - 7/23/2020

7 Month No-Penalty CD from 1.00% to 0.90% 11 Month No-Penalty CD from 0.90% to 0.80% 13 Month No-Penalty CD from 0.80% to 0.70% Current Savings rate is 1.05%.

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 (173)

Great Online Experice Without Limits

If you need/want an online account with good customer experiences, a nice online platform and competitive rates - without limits, Marcus has it. Slightly below the "top tier" of rates but, the lack of "gotchas" and limits on xfers and has superior customer service. If you prefer the "big guys" and still want a better rate and [positive customer service, Marcus Delivers. I NEVER had a problem dealing online or by phone. They won't be THE rate .leader but will remain closer to the top vice sinking to average levels

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.

CD Renewal Process Is Pitiful

Posted by: |

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.

Locked Out Of Account

Posted by: |

Marcus is by far the worst financial institution I’ve ever had. I’ve had them for about 2 months now and didn’t have a problem until I tried to transfer money out of the account. They are saying they can’t verify that I own one of my external accounts even though that’s how I funded my account. The transfer I was trying to make wasn’t even to the account they “can’t verify”. They requested I send a statement to them BY MAIL to verify my account. I sent this on Wednesday 8/4/2020 and it should be there by now. It is ridiculous this is the system they are using to verify accounts. Snail mail is not acceptable when you need your money. I can’t be more upset with this financial institution to hold my money for a week during a pandemic when I really need it.



Health Grade Components

FDIC Certificate #33124
Year Established1990
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.44%
Return on Equity - YTD3.64%
Annual Interest Income$1.79B
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$254.7B$195.9B
LoansQ1 2020vs Q1 2019$103.5B$76.06B
DepositsQ1 2020vs Q1 2019$180.2B$145.1B
Equity CapitalQ1 2020vs Q1 2019$29.52B$28.13B
Loan Loss AllowanceQ1 2020vs Q1 2019$1.89B$693.0MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$909.0MM$289.0MM
Real Estate OwnedQ1 2020vs Q1 2019$14.0MM$28.0MM
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Marcus by Goldman Sachs Savings Account Rates

0.80%-$3mHigh-yield Online Savings Account

Marcus by Goldman Sachs CD Rates

1.05%$500$1mHigh-yield 5 Year CD
1.05%$500$1mHigh-yield 6 Year CD
1.00%$500$1mHigh-yield 12 Month CD
1.00%$500$1mHigh-yield 18 Month CD
1.00%$500$1mHigh-yield 2 Year CD
1.00%$500$1mHigh-yield 3 Year CD
1.00%$500$1mHigh-yield 4 Year CD
0.90%$500$1m7 Month No-Penalty CD
0.80%$500$1m11 Month No-Penalty CD
0.70%$500$1mHigh-yield 9 Month CD
0.70%$500$1m13 Month No-Penalty CD
0.60%$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.