Marcus by Goldman Sachs review — is this online bank worth your money in 2026? Marcus launched in 2016 as Goldman Sachs’ consumer banking division. It was a bold move for a 150-year-old Wall Street investment bank. The goal was simple.
- Marcus By Goldman Sachs: Account Types and Features
- Marcus By Goldman Sachs Review: Fees and Costs
- Marcus By Goldman Sachs Sign-Up Bonuses and Promotions
- Marcus By Goldman Sachs Mobile App and Online Banking
- Pros and Cons of Marcus By Goldman Sachs
- Who Is Marcus By Goldman Sachs Best For?
- Frequently Asked Questions
Goldman Sachs wanted to offer everyday savers the same competitive rates usually reserved for institutional clients. Today, Marcus focuses exclusively on high-yield savings accounts and certificates of deposit. It does not offer checking accounts, money market accounts, or traditional banking services. However, that narrow focus lets Marcus deliver some of the best APYs in the country. This marcus by goldman sachs review covers everything you need to know about rates, fees, promotions, and whether it fits your financial goals.
Marcus By Goldman Sachs: Account Types and Features
Marcus keeps its product lineup lean. You get two core options: a High-Yield Online Savings Account and High-Yield CDs. The savings account currently earns 3.65% APY with no minimum deposit required. That rate crushes the national average of 0.39% APY. For example, a $10,000 deposit earns roughly $365 per year at Marcus versus just $39 at the average bank. In most cases, Marcus ranks among the top three savings APYs nationwide.
Marcus CDs come in terms ranging from 6 months to 6 years. The minimum deposit is $500 for all CD terms. Every CD includes a 10-Day CD Rate Guarantee. If Marcus raises the rate for your term within 10 days of opening, you automatically get the higher rate. Marcus also offers a No-Penalty CD that lets you withdraw your full balance without any early withdrawal fee after just 14 days. As a result, the No-Penalty CD is popular with savers who want flexibility.
| Account Type | APY | Monthly Fee | Minimum Deposit |
|---|---|---|---|
| High-Yield Savings | 3.65% APY | $0 | $0 |
| 6-Month CD | 4.05% APY | $0 | $500 |
| 9-Month CD | 4.05% APY | $0 | $500 |
| 12-Month CD | 4.00% APY | $0 | $500 |
| 18-Month CD | 3.95% APY | $0 | $500 |
| 2-Year CD | 3.95% APY | $0 | $500 |
| 3-Year CD | 3.90% APY | $0 | $500 |
| 5-Year CD | 3.90% APY | $0 | $500 |
| No-Penalty 11-Month CD | 3.70% APY | $0 | $500 |
APY rates shown are accurate as of April 2026 and may change at any time. In this marcus by goldman sachs review, we confirmed all rates directly from official sources. Marcus earned NerdWallet’s 2026 award for best bank for certificates of deposit. That recognition speaks to the consistently strong CD rates Marcus delivers.
Marcus By Goldman Sachs Review: Fees and Costs
This is where Marcus truly shines. There are zero fees across every product. No monthly maintenance fees. No minimum balance fees. No transfer fees. No excessive withdrawal fees. Marcus does not charge wire transfer fees either. Typically, online banks charge less than brick-and-mortar banks. Marcus takes it further by charging nothing at all.
The only cost to watch is the early withdrawal penalty on standard CDs. If you cash out a CD before maturity, you forfeit a portion of earned interest. For CDs with terms under 12 months, the penalty is 90 days of interest. For terms of 12 months or longer, the penalty is 150 days of interest. However, you will never lose any of your principal. The No-Penalty CD avoids this issue entirely. Any marcus by goldman sachs review should highlight this fee-free structure as a major advantage.
Since Marcus has no checking account, there are no ATM fees, overdraft fees, or NSF fees to worry about. You simply link Marcus to your existing checking account at another bank. Transfers between linked accounts are free and typically take 1 to 3 business days.
Marcus By Goldman Sachs Sign-Up Bonuses and Promotions
Marcus has historically offered generous sign-up bonuses for new customers. For example, past promotions have included a $100 bonus for depositing $10,000 or more in a new savings account. Marcus has also run larger promotions offering up to $1,500 for deposits of $100,000 or more. These bonuses typically require you to maintain the deposit for 60 to 90 days.
Promotions at Marcus rotate periodically. They are not always available. As a result, you should check the Marcus website directly before opening an account. In most cases, Marcus targets new customers with bonus offers. Existing customers occasionally receive targeted rate boosts on CDs. This marcus by goldman sachs review recommends checking for active promotions before funding your account.
Since Marcus does not offer a checking account, there are no direct deposit bonuses. All bonus offers center around savings deposits and CD openings. Typically, you must fund your account within a set window after opening to qualify.
Marcus By Goldman Sachs Mobile App and Online Banking
The Marcus mobile app earns a 4.9-star rating on both the Apple App Store and Google Play. Over 200,000 users have reviewed it. The app lets you open accounts, check balances, transfer funds, and manage CDs. The interface is clean and intuitive. For example, the CD Explorer tool helps you compare terms and rates side by side.
However, there are notable limitations. Marcus does not support mobile check deposit. You cannot deposit paper checks through the app. There is no Zelle integration for peer-to-peer payments. Since Marcus lacks a checking account, features like bill pay and debit card management are absent. This marcus by goldman sachs review notes these gaps because they matter if you want an all-in-one banking experience.
Customer service is available by phone seven days a week. You can reach a representative from 8 AM to 10 PM Eastern. Marcus does not offer live chat support through the app or website. In most cases, phone wait times are reasonable. The customer service team is U.S.-based. Marcus deposits are held by Goldman Sachs Bank USA, FDIC certificate #33124. Your deposits are insured up to $250,000 per depositor, per ownership category.
Pros and Cons of Marcus By Goldman Sachs
Pros:
- High-yield savings at 3.65% APY — nearly 10x the national average
- Absolutely zero fees on all accounts — no monthly, transfer, or minimum balance fees
- Competitive CD rates from 3.70% to 4.05% APY across multiple terms
- No-Penalty CD lets you withdraw early without losing interest
- 10-Day CD Rate Guarantee protects you if rates rise after opening
- FDIC insured up to $250,000 (Goldman Sachs Bank USA, certificate #33124)
- Highly rated mobile app with 4.9 stars from 200,000+ reviews
Cons:
- No checking account, debit card, or ATM access
- No Zelle, mobile check deposit, or peer-to-peer payments
- No physical branch locations for in-person banking
- $500 minimum deposit required to open any CD
- No live chat support — phone only for customer service
This marcus by goldman sachs review finds the pros significantly outweigh the cons. The missing features only matter if you need Marcus to be your primary bank. As a savings-only companion, it excels.
Who Is Marcus By Goldman Sachs Best For?
Marcus is best for savers who want top-tier APY rates without any fees. If you already have a checking account at another bank, Marcus makes an excellent companion for your savings. The high-yield savings account works perfectly for emergency funds and short-term goals. Typically, savers who prioritize earning the most interest will find Marcus hard to beat.
Marcus is also ideal for CD investors. The range of terms from 6 months to 6 years lets you build a CD ladder easily. The No-Penalty CD is perfect if you want CD-level rates with savings account flexibility. For example, you could park funds in a No-Penalty CD while deciding on a longer-term investment. Any thorough marcus by goldman sachs review will tell you the same thing — this bank is built for savers.
However, Marcus is not the right choice if you need a full-service bank. There is no checking, no debit card, and no ATM network. You cannot use Marcus for daily transactions. As a result, think of Marcus as a high-yield savings partner rather than a primary bank. Our final marcus by goldman sachs review verdict: Marcus is one of the best places to park your savings in 2026, especially if earning maximum interest with zero fees is your top priority.
Frequently Asked Questions
Is Marcus by Goldman Sachs FDIC insured and safe?
Yes, Marcus deposits are held by Goldman Sachs Bank USA. It is FDIC insured under certificate #33124. As a result, your deposits are protected up to $250,000 per depositor, per ownership category. Goldman Sachs has been in business since 1869, making it one of the most established financial institutions in the world.
Can I use Marcus by Goldman Sachs as my only bank?
No, Marcus is not designed to be a standalone bank. It does not offer checking accounts, debit cards, or ATM access. However, it works perfectly as a companion to your existing checking account. Most customers use Marcus specifically for high-yield savings and CDs.
How long does it take to transfer money from Marcus?
Transfers from Marcus to a linked external bank account typically take 1 to 3 business days. In most cases, standard ACH transfers arrive within that window. Marcus does not charge any fees for these transfers. However, same-day transfers are not currently available.
Does Marcus by Goldman Sachs have a minimum deposit?
The High-Yield Savings Account has no minimum deposit requirement. You can open it with any amount. For CDs, Marcus requires a $500 minimum deposit to open and earn the stated APY. This marcus by goldman sachs review finds both minimums very reasonable compared to competitors.
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Official Sources & Resources
For verified information on banking regulations and consumer protection:
- FDIC (Federal Deposit Insurance Corporation): fdic.gov
- CFPB (Consumer Financial Protection Bureau): consumerfinance.gov
- Federal Reserve: federalreserve.gov
- NCUA (National Credit Union Administration): ncua.gov
- SEC (Securities and Exchange Commission): sec.gov
Content last reviewed April 2026. If you notice any outdated information, please contact us.