Marcus by Goldman Sachs is a direct bank that offers personal loans and rewards savers with higher payouts.
Marcus offers above-average interest rates across all products.
Minimum deposit and balance requirements for CD and savings accounts are relatively low.
24/7 access to an automated customer service line.
Marcus has a limited selection of products available.
Marcus does not offer debit or ATM cards, making deposits hard to access.
Mobile check deposit is not available, meaning all deposits must be made via electronic transfer and/or automated deposits.
Marcus by Goldman Sachs consistently ranks at the top of the list thanks to its competitive rate offerings. Unfortunately, Marcus is limited in its product offerings and you will need to look elsewhere for checking and money-market accounts.
When it comes to the banks mobile experience, customers are highly satisfied with the app experience based on the thousands of glowing reviews on both the app store and Google Play. Some of the highlights of the app include Marcus insights, which shows customers allows customers to link external accounts to track their goals and money in one convenient location.
One of the biggest pitfalls, however, is the fact that the app does not support mobile check deposits. Instead, all deposits must be electronically transferred or come from automated deposits. This is unfortunate given Marcus also does not offer branch or ATM access.
If you need assistance, you can call the automated customer service line 24/7. If you’d like to talk to a specialist, you can call Monday - Friday from 8:00 a.m. to 10:00 p.m. Eastern and Saturday - Sunday from 9 a.m. to 7 p.m. Eastern.
Marcus Goldman founded a financial firm in 1869 that would become Goldman Sachs, a company known as one of the premier investment banks in the United States.
Goldman Sachs became a bank holding company during the financial crisis. Years later through the acquisition of GE Capital Bank’s online deposits, Goldman Sachs launched GS Bank, an online-only institution. In late 2017, GS Bank became known as Marcus by Goldman Sachs, a brand already being used by the firm’s personal loan platform. In addition to loans, Marcus by Goldman Sachs offers certificates of deposit (CDs) and an online savings account.