Marcus by Goldman Sachs Bank Review 2023
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At a glance

CDs
Savings
About Bankrate Score
Overview
Marcus by Goldman Sachs is an online bank that rewards savers with higher-than-average rates. There are no monthly service fees charged by Marcus on their savings account or certificates of deposit (CDs). Moreover, opening deposit requirements are zero or small, making accounts easily accessible.
Highlights
- High APY
- Top CD Rates
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
Marcus by Goldman Sachs is an online bank that rewards savers with higher-than-average rates. There are no monthly service fees charged by Marcus on their savings account or certificates of deposit (CDs).
Pros
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Marcus offers competitive interest rates for all of its products.
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The balance requirements for CDs are relatively low.
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Savings accounts don’t have a minimum balance requirement or monthly service fee.
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A customer service line provides 24/7 account access. You can also chat with representatives at any time.
Cons
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Marcus offers a limited selection of financial products.
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Marcus does not offer debit or ATM cards, making it more difficult to access your funds.
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Deposits must be made via electronic transfer or automated deposits; mobile check deposit is unavailable.
Marcus banking products
Marcus savings overview
Marcus doesn’t charge wire transfer fees, but the bank has an external transfer limit of $125,000 for online and automated clearing house transfers. Wire transfers have a $50,000 per statement cycle limit. Its website says to call the bank if you need to transfer more money.
Marcus doesn’t limit the number of transfers or withdrawals taken from your Marcus savings account.
Pros
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Marcus offers a competitive yield on its savings account.
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The account requires no minimum deposit to open.
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There are no monthly fees.
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Marcus doesn’t charge for wire transfers.
Cons
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Mobile check deposit is not offered; all deposits must be transferred or automated.
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There is no branch or ATM access.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank fees
Fee | Charged? |
---|---|
Overdraft fee | None |
Non-sufficient funds fee | None |
Monthly maintenance fee | None |
Out-of-network ATM fee | None |
Excessive transaction fee | None |
About Marcus by Goldman Sachs Bank
Marcus by Goldman Sachs is an online bank that offers a savings account and multiple terms of CDs. Marcus is known for offering competitive rates on its savings products, including a savings account and a wide array of CDs, but the bank no longer offers personal loans.
Goldman Sachs Bank started offering CDs, savings accounts, and brokered CDs through the April 2016 acquisition of GE Capital Bank. In late 2017, Marcus by Goldman Sachs started offering CDs and a savings account.
Bank experience
Marcus by Goldman Sachs consistently ranks at the top of Bankrate’s savings and CD ratings because of its competitive savings and CD rates, but it doesn’t offer checking or money market accounts.
Based on the thousands of positive reviews on both the Apple App Store and Google Play, customers are highly satisfied with the Marcus app. The app includes access to Marcus Insights, which allows customers to link external accounts to track goals and balances in one convenient location.
The Marcus app does not support mobile check deposits, however, so all deposits must be electronically transferred. Marcus also does not offer branch or ATM access.
Customer service representatives can be reached 24/7. There is also a chat for customers during a business day.
How does Marcus compare to other banks?
Marcus vs. Ally Bank
Both Marcus and Ally Bank are online-only banks. As such, they typically offer accounts with high yields that can be opened with little to no minimum deposits.
Yields at Marcus and Ally are about the same for their savings accounts and CDs, making both competitive options for savers. Moreover, both banks offer a comparable array of CD types and terms, ranging from standard to bump-up and no-penalty CDs with multiple terms for each.
This noted, Ally generally offers more financial products and services, including a checking and money market account in addition to investment and retirement accounts. If you’re looking to bring all of your banking under one roof, Ally is generally the better choice.
Marcus FAQs
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.