Marcus from Goldman Sachs Review 2022: Good CD Options for Rising Prices and Account Flexibility – NextAdvisor | Vette Leader

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Good for CD types and access

Marcus from Goldman Sachs Bank Review

Marcus from Goldman Sachs

Editor’s Rating: (4.2/5)

Good for CD types and access

Marcus from Goldman Sachs Bank Review

Editor’s Rating: (4.2/5)


Goldman Sachs’ Marcus is a great online banking option for anyone looking for a great savings account, multiple CD types, reliable customer service, and an easy-to-use online website and mobile app. However, Marcus’ account options are somewhat limited: no money market or checking accounts are offered.

NextAdvisor’s Take


  • Same-day transfers of up to $100,000 for high-yield savings accounts
  • 10-day CD price guarantee
  • Very high APYs on deposits
  • Investment and loan offers in addition to saving


  • No money market account or checking account
  • $500 minimum CD balance
  • Credit card options are limited to GM co-branded cards

more details

  • online-only bank; Access your account via the mobile app or online
  • After opening a CD and making a deposit of $500, you are guaranteed the highest rate on offer between the opening day and 10 days thereafter
  • CD options include high yield, no penalty, and rate bump CDs
  • Marcus Invest Robo-Advisor investment tool for longer-term savings and investment goals
  • Home equity and debt consolidation loans available
  • Opt for fixed rate installment loans from some retailers using Marcus Pay
  • Unlimited same-day withdrawals and transfers (under $100,000) for savings accounts
  • No access to ATMs
  • Marcus deposit accounts are FDIC insured

Editorial Independence

We analyze and audit banks without the influence of partnerships or advertising relationships. More information on our assessment methodology can be found here.

Marcus by Goldman Sachs Full Review

Marcus doesn’t have the widest range of account types, but it still deserves a solid score in our account options analysis for the variety of accounts on offer. In addition to a high-yield savings account, Marcus has CDs with long maturities, as well as traditional CD options with no penalty, no escalation and high returns.

savings accounts

Marcus offers a high yield savings account with competitive interest rates. It does not charge monthly maintenance fees or a minimum deposit requirement.

You can make same-day transfers of up to $100,000 to and from other banks. Being able to transfer such a large amount can come in handy when you need to move money you’ve been saving for a down payment or a costly emergency. Unlike some other banks, Marcus doesn’t limit you to just six monthly withdrawals.

Transfers to and from your savings account can be made by ACH transfer to or from another bank, postal check or direct deposit. You can also use a bank transfer; Marcus does not charge a fee for wire transfers, but you may be charged a fee by the bank you are sending money to or from. Marcus also lets you schedule regular, automatic transfers and track your earned interest with the Marcus app.

Unlike some other high-yield savings accounts and many money market accounts, Marcus does not grant ATM access or offer a debit card if you need to withdraw cash from your account.

Certificates of Deposit

Marcus has traditional no-punishment and bump-up CDs, all of which have competitive interest rates. You can choose terms ranging from six months to six years. However, there is a minimum deposit of $500 for each.

Marcus also has a 10-day CD price guarantee; If your CD rate increases within the first 10 days after opening your CD and making your deposit, you will receive the highest rate offered within that 10 day period.

Marcus’ top-up and no-punishment CD options could also be attractive as interest rates rise. If you choose a bump-up (or rate increase) CD, you can request a one-time rate increase at any time during your CD term. Marcus currently offers a 20-month term for Rate Bump CDs. If you withdraw before the CD is due, you will still pay a penalty.

For more withdrawal flexibility, a non-printed CD may be a better option. You can choose from seven, 11, or 13 months of penalty-free CDs, with a minimum deposit of $500 each, and the option to withdraw your funds seven days after opening your account.

When a CD you open at Marcus comes due, you have a 10-day grace period to remove your money or transfer it to a new CD with a different expiration date. After that, your CD will automatically be extended by a further term.

Other products

Marcus offers a few other products in addition to its online bank accounts.

Marcus Invest is the bank’s robo-advisor tool. You can use it to automate your investment portfolio based on your goals, for both individual investment accounts and retirement accounts. Fees may vary depending on your portfolio and the funds you invest in.

Marcus also offers home improvement loans ranging from $3,500 to $40,000 with no collateral or home appraisal required, and debt consolidation loans up to $40,000.

Finally, Marcus has some co-branded credit cards with General Motors. For example, the GM Rewards Card™ offers 7X points on purchases from GM and 4X unlimited points on all purchases with no annual fees. If you don’t own a GM car (including a Chevrolet, Buick, GMC, or Cadillac) or plan to buy one, this card may not be as valuable compared to other, more flexible rewards cards.

customer experience

We rank Marcus strong in both the Customer Experience and Communication categories thanks to the multiple opportunities it offers for customers looking for support.

If you need help with your account, you can contact Marcus through an online chat tool, through his customer service-focused Twitter account, via email, or by phone after signing up with their 24/7 contact center.

Marcus also has an online help center with FAQs to answer questions about any of their banking products.

Marcus’ app is highly rated on the App Store and Google Play, with ratings of 4.8 and 4.3 stars, respectively. Most customers like the simple design and banking navigation, although some reviews mention experiences with app crashes and technical glitches.


Marcus has mentioned robust accessibility efforts on its website for UK-based customers, including the option to speak to a representative with a sign language interpreter, braille and more.

However, Marcus has limited accessibility support information on its website in the United States and fewer initiatives than other banks we rate and review. Marcus’ US options include phone numbers for inquiries about adequate housing and feedback through an American with Disabilities Act (ADA) coordinator.

We’ve reached out to Marcus for more information on the site’s accessibility, but have received no response at the time of publication. We will provide an update when available.

Marcus by Goldman Sachs right for you?

Whether you want to set up an emergency fund or take advantage of rising CD rates, Marcus has plenty of options for you to choose from. And for investors who want to automate their investment strategy, you can use Marcus Invest to manage your portfolio.

Marcus is characterized, among other things, by the optimization of online banking processes, e.g. B. by scheduling automatic transfers and offering same-day transfers when you want to withdraw your funds. Plus, the high-yield savings account has one of the best interest rates today compared to its competitors.

Given the rising interest rate environment we’re in, Marcus’ 10-Day Interest Rate Guarantee is another unique feature that can be useful for keeping up with rapidly rising interest rates – although you should still consider the likelihood that the Interest rates could rise within days or weeks before you decide to lock in a CD today.

However, keep in mind the fees you may be responsible for across Marcus’ various products – the High Yield Savings Account has no fees, but you do pay a penalty for early withdrawal from a CD (except for the no-fee CD). And Marcus’ CDs require a minimum deposit of $500. Marcus Invest also has some fees, including a 0.25% management fee and other fees that depend on your portfolio.

Another potential downside of Marcus is the lack of access to ATMs. If you’re saving for an emergency fund or other short-term goal, you probably don’t need regular access to your savings through an ATM, but not having access to an ATM could prevent you from accessing your money immediately when you need it. Marcus is also an online bank. So if you prefer personal banking, you might want to consider other options.

Frequently asked questions about Marcus from Goldman Sachs

Does Marcus charge ATM fees?

You cannot access your Marcus accounts through ATMs. However, you can transfer money to another account with ATM access and withdraw through ATM that way (fees depend on the other account you are using).

How much does Marcus charge for transfers?

Marcus does not charge for wire transfers or bank transfers. If you make an outbound transfer with Marcus, or send money to Marcus from another account, the bank you’re sending to may still charge a fee.

Does Marcus offer debit cards?

No, Marcus does not offer debit cards.

How many transactions can I make with my Marcus account per month?

You can make unlimited withdrawals and transfers to and from your Marcus account.

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