Many or all of the companies featured here provide compensation to us. This is how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear below. Advertiser Disclosure

Many or all of the companies featured here provide compensation to us. This is how we maintain our free service for consumers. Advertiser Disclosure

Many or all of the companies featured here provide compensation to us. This is how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear below. Advertiser Disclosure

Many or all of the companies featured here provide compensation to us. This is how we maintain our free service for consumers. Advertiser Disclosure

Marcus by Goldman Sachs is an online-only bank that offers a variety of financial products and services with few or no fees. It provides no-fee savings accounts, certificates of deposits, and fixed-rate personal loans with competitive rates that are difficult to find elsewhere. Although there are no physical ATMs or branch networks associated with Marcus, it has become an increasingly popular choice for Americans looking for an easy way to manage their finances. With its convenient online platform and low-cost options, Marcus by Goldman Sachs is a great option for anyone looking to save and invest responsibly.



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The Marcus by Goldman Sachs review offers customers an in-depth look at the personal banking products and services available from the bank. As of March 2023, the review provides customers with up-to-date information on the range of consumer banking products and services, such as account details and APYs, so they can pick the right account and services that best match their financial goals. This review covers all the offerings of Marcus by Goldman Sachs, including savings accounts, checking accounts, and credit cards, so customers can get an overall understanding of their options before committing to a particular account or service.

Marcus by Goldman Sachs: Pros And Cons

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Marcus by Goldman Sachs is an advantageous financial resource for customers that offers numerous benefits. With competitive interest rates on loans, high-yield savings accounts, and individualized financial guidance, it is an attractive choice for many. Additionally, Marcus by Goldman Sachs offers low fees and no minimums, making it an accessible option for those with limited budgets. Though it does have some drawbacks such as limited customer service and limited access to other banking services, the overall benefits make Marcus by Goldman Sachs a great choice for those looking for a reliable financial resource.


  • All savings products are competitively priced
  • Fees for account maintenance, service, and transfers are not charged
  • There is no minimum deposit requirement for savings accounts
  • CD accounts with low minimum deposits
  • Keeping track of your finances has never been easier with Marcus Insights


  • There are no ATMs or physical locations
  • You cannot have checking accounts, IRAs, auto loans, or credit cards
  • Check deposits cannot be made via mobile devices

Can You Save Money With Marcus by Goldman Sachs?


The Marcus by Goldman Sachs High-Yield Online Savings Account is an ideal choice for anyone looking to optimize their savings. It offers an impressive APY of up to a certain limit with no fees involved and no minimum deposit or balance requirement. Maximum limit per account is $1 million, not to exceed $3 million per account owner.

Marcus CDs

  • The Marcus by Goldman Sachs High-Yield Certificates of Deposit are available for 6 months to 6 years with a minimum deposit of $500. Interest rates are fixed depending on the term selected.
  • In 2022, interest rates are fluctuating and you may be hesitant to lock in a long-term CD for fear that they will rise after you commit your money. Marcus offers a special 10-day CD rate guarantee to ease your fears.

Opening a high-yield CD with Marcus is a great way to benefit from rising interest rates. You only need to deposit $500 within the first 10 days of opening the account. If you make an early withdrawal, an early withdrawal fee applies.

CDs have early withdrawal fees that increase with longer terms. Marcus No-Penalty CDs offer high APYs and no withdrawal fees, with a minimum opening deposit of $500 and different term options:

  • 7 months, with an APY of 0.45%
  • 11 months, with an APY of 0.35%
  • 13 months, with an APY of 3.85%

Marcus offers a No-Penalty CD with no hidden fees and flexible access to your money, allowing you to withdraw your money after just seven days without sacrificing interest earned. Perfect for emergency savings, saving up for a goal, or any other savings goal.

Personal Loans At Marcus

Marcus by Goldman Sachs is an excellent choice for personal loans, offering unsecured loans from $3,500 to $40,000 with competitive APRs from 6.99% to 24.99% and loan terms from 36 to 72 months. Customers can also take advantage of an additional 0.25% APR reduction when signing up for auto-pay. J.D. Power surveys have found that customers are pleased with the loan offerings and terms, application and approval process, billing and payment, and interactions with Marcus. To apply for the loan, applicants must be approved for credit, and monthly payments will depend on the interest rate, loan amount, and loan term.

Access To Marcus Online

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Marcus is an online bank that provides traditional banking services without the need for physical bank branches or ATMs. Customers can link their existing bank accounts to their Marcus account and access their finances from their mobile devices, making banking more convenient and secure.

Using the app, you can:

  • Keep an eye on your account balance
  • Analyze transactions
  • Transferring money between bank accounts
  • Create a recurring deposit schedule
  • Pay off your Marcus personal loan
  • Set financial goals and track your progress

The Marcus mobile wealth management app recently added Marcus Insights, a helpful tool for tracking spending, analyzing saving/investing trends, and getting a full picture of finances. However, users cannot deposit checks with the app and must mail them to Goldman Sachs Bank USA in Illinois instead.

Marcus Banking Fees

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Marcus by Goldman Sachs is an ideal choice for those seeking a hassle-free banking experience. There are no account maintenance fees, no late fees on personal loan payments, and no fees for wire transfers, making it easier to manage your finances without having to worry about extra costs. Moreover, while some products may have account minimums, Marcus by Goldman Sachs is still worth considering if you need a convenient and cost-effective banking solution.

Here’s What Marcus By Goldman Sachs Has To Offer

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Marcus is an excellent option for those looking for top-notch financial products. They offer a small selection of products, but the quality of these offerings is second to none. Their APYs on their savings accounts and CDs are some of the best in the industry, and all accounts are fee-free, with low minimum requirements that make it easy to open and maintain an account with them. Whether it’s for a special purchase or just for general savings, Marcus provides the best savings products with high-yield returns.

Marcus is an ideal choice for anyone in need of a personal loan. They offer up to $40,000 of unsecured loans for various purposes, including debt consolidation consumer business,, debt repayment, and home improvement projects. Additionally, Marcus has high ratings from J.D. Power’s annual survey of customer satisfaction with loan providers. This demonstrates that the customer service and loan approval process with Marcus is both satisfactory and efficient. With its competitive rates and reliable customer service, Marcus is an excellent option for anyone looking for a personal loan.

Marcus is an online-only bank, so it is important for investors to remember that it does not offer the same services as a traditional full-service consumer bank. Without a network of ATMs or physical branches, Marcus does not allow for cash deposits or withdrawals. Additionally, the bank does not offer the same services as a traditional bank, such as checking accounts, credit cards, auto loans, and mortgage loans. Before opening an account with Marcus, it is important to take these limitations into consideration in order to ensure it is the best fit for your financial needs.

Marcus by Goldman Sachs is a great option for those looking to maximize their savings. With competitive APYs and no minimum deposit, it is a great choice for those who don’t need a traditional bank for their everyday banking needs. The high APYs make it an attractive option for those wanting to get the most out of their savings, and the lack of a minimum deposit requirement makes it even easier to get started. Marcus by Goldman Sachs is the perfect choice for those who want to maximize their return on their savings without having to make a large upfront investment.

Marcus vs. Amex Savings

For individuals looking to save money, Marcus by Goldman Sachs and Amex Savings are both great options. Both offer competitive interest rates, no opening deposit, and no monthly fees. Marcus is the faster option, with money available within one business day (up to $100,000). However, if you want to keep a sizable amount of money in a savings account, the Amex savings account may be your best choice as it has a maximum balance limit of $5 million. The limit on Marcus’ savings accounts is only $1 million, so it may not be suitable for everyone.

Marcus vs. Chime®

Chime High-Yield Savings Account is an excellent choice for those looking to maximize their savings. It offers a competitive 2.00% APY with no minimum opening deposit or monthly fees, plus two automated saving features – Save When I Get Paid and Round Ups – to easily and automatically put money away. Although Chime does not offer personal loans, Marcus by Goldman Sachs does. Marcus offers personal loans of up to $40,000 with no fees and competitive APRs, with loan terms ranging from three to six years. This makes Chime and Marcus an ideal combination for those looking to both save and borrow money.

Ally vs. Marcus

Ally Bank and Marcus both offer high-yield savings accounts with competitive rates and no fees. Ally Bank provides a full suite of financial services, such as checking accounts, IRAs, CDs, auto loans, money market accounts, and investments in stocks/ETFs, while Marcus offers fewer products. Ally’s platform allows customers to manage all their finances in one place, making it an ideal choice for those looking for a comprehensive financial solution. In addition, Ally also provides personal loans to businesses in the healthcare, auto, and home improvement industries, making it a more secure and efficient option for businesses to access the funds they need. All in all, Ally Bank and Marcus are both excellent choices for those looking for a high-yield savings account with no fees.

Marcus Frequently Asked Questions (FAQs)


Is Marcus FDIC insured?

Yes, the Marcus by Goldman Sachs division of Goldman Sachs Bank USA is FDIC insured (FDIC No. 33124). As an account holder of an FDIC-insured bank, your money is protected by the federal government for up to $250,000 for each account ownership category in the case of the bank’s failure.

Does Marcus offer a debit card or ATM card for savings accounts?

At this time, withdrawing money from your Marcus account is not possible. If you would like to access the funds in your account, you will need to send the money to another bank account via an ACH transfer or wire transfer. If that is not a feasible option, Marcus can also mail you a paper check upon request.

Marcus is an online bank, so how can I make deposits to my savings account?

There are four ways to add money to your Marcus savings account:

  1. Direct deposit
  2. Transfer money into your Marcus account from an external linked bank account.
  3. Make a wire transfer to your Marcus account.
  4. Send a signed check (endorsed as “For Deposit Only”) to Marcus via U.S. mail.

How does the Marcus Insights app feature work?

Marcus Insights is a powerful tool for managing and tracking finances, allowing users to collect and view data from all non-Marcus accounts in one place. It is accessible from iOS, Android, and desktop devices, providing users with an easy and efficient way to review, analyze, and manage their money.

How safe is Marcus By Goldman Sachs?

Accounts held with Marcus by investors at Goldman Sachs are FDIC-insured for up to $250,000 per depositor. This makes deposits at trading business Marcus as safe as brick-and-mortar banks like Chase or Wells Fargo.

The annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is accurate as of November 17, 2022. No minimum balance is required. Must have $0.01 in savings to earn interest.

Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.

Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round-up from your Chime Checking Account to your savings account.

Marcus By Goldman Sachs
  • Marcus By Goldman Sachs

Marcus By Goldman Sachs Review

Goldman Sachs has established itself as a globally recognized financial institution for more than 150 years and has built a solid reputation for providing financial services. In recent years, they have come under fire from customers, with 626 complaints filed in the last 3 years and only 1 rating out of 5 on customer review sites.

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Paolo Jones is an accomplished writer with a specialization in tax-related topics. His extensive experience and expertise in the field have made him a sought-after authority on all things tax. Paolo earned his bachelor's degree in economics where he developed a keen interest in taxation. Paolo began his professional career as a tax consultant where he advised clients on tax planning, compliance, and risk management. His technical expertise and attention to detail soon earned him a reputation as a top-notch tax professional.

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