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Marcus by Goldman Sachs Online Savings Account
in Savings Accounts from Goldman Sachs Bank USA · Member FDIC
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Marcus by Goldman Sachs Online Savings Account

Claimed
in Savings Accounts from Goldman Sachs Bank USA · Member FDIC
SuperMoney Net Recommendation Score +81  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +81, equating to 4.6 on a 5 point rating scale.

+81

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

13 users recommend
3 users are unsure
0 users don't recommend
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Highlights
Community Rating Strongly recommended
Monthly Fee $0
(Verified 11/17/2022)
APY (Annual Percentage Yield) 3.00%
(Verified 11/17/2022)
Minimum Balance to Earn APY $0
Number of Reviews 16

Marcus by Goldman Sachs Online Savings Account Review

Marcus by Goldman Sachs Online Savings Account is offered by Goldman Sachs Bank USA, a bank founded in 1869 and based in New York, NY. Marcus by Goldman Sachs Online Savings Account is available in 50 states (and Washington, DC).

Key Takeaways

  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.00%, which is much higher than the average interest rate for a savings account.
  • $0 monthly fee. This account does not charge any monthly account fees.
  • No minimum initial deposit. There is no minimum balance required to open an account online.

Marcus by Goldman Sachs Savings Pros & Cons

Pros Cons
  • Interest Compounded Daily
  • Available in all 50 states.
  • High variable APY.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not offer mobile check deposits.
  • Does not provide access to a nationwide ATM network.
  • Does not come with a debit card

Marcus by Goldman Sachs Savings FAQ

Are savings accounts from Goldman Sachs Bank USA federally insured?

Yes, your Goldman Sachs Bank USA savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #33124). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does Goldman Sachs Bank USA offer a signup bonus?

Marcus by Goldman Sachs Savings doesn't offer a signup bonus.

What is the minimum initial deposit for Marcus by Goldman Sachs Savings?

There is no minimum deposit to open a Marcus by Goldman Sachs Savings.
Marcus by Goldman Sachs Online Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee $0
Minimum Balance to Earn APY $0
Minimum Combined Balance to Avoid Monthly Fee $0
Minimum Direct Deposit to Avoid Monthly Fee Starting at $0
Minimum Opening Deposit $0
Minimum Required Balance $0

What APY does Marcus by Goldman Sachs Online Savings Account offer?

Marcus by Goldman Sachs Savings offers an APY of 3.00% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Marcus by Goldman Sachs Savings charge?

Marcus by Goldman Sachs Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.

Does Marcus by Goldman Sachs Savings charge overdraft fees?

No, Marcus by Goldman Sachs Savings does not charge overdraft fees.

What features and perks does Marcus by Goldman Sachs Savings offer?

This savings account includes the following features:

  • Fraud monitoring - Marcus by Goldman Sachs Savings monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Mobile Banking Services - Marcus by Goldman Sachs Savings allows you to manage your money online or with a mobile app.

Can you set up a direct deposit to Marcus by Goldman Sachs Savings?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

How do people rate the customer service and user experience of Marcus by Goldman Sachs Savings?

Overall, Marcus by Goldman Sachs Savings is strongly recommended based on community reviews that rate customer service and user experience.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Minimum Balance to Avoid Monthly Fee $0
Minimum Balance to Earn APY $0
Minimum Combined Balance to Avoid Monthly Fee $0
Minimum Direct Deposit to Avoid Monthly Fee Starting at $0
Minimum Opening Deposit $0
Minimum Required Balance $0
Monthly Fee $0
(Verified 11/17/2022)
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $0
Paper Statement Fee $0
Overdraft Protection Fee (per transfer) $0
Overdraft Item Fee $0
Returned Deposit Fee (Domestic) $0
Early Account Closure $0
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
Account Features
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
APY (Annual Percentage Yield) 3.00%
(Verified 11/17/2022)

Marcus by Goldman Sachs Online Savings Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +81, equating to 4.6 on a 5 point rating scale.

+81

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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