Marcus by Goldman Sachs Review (2026)
Marcus offers 4.50% APY with no minimum deposit, no fees, and the institutional credibility of Goldman Sachs Bank USA. Here is our full 2026 review.
- + No minimum deposit or balance requirement
- + No monthly fees, ever
- + Goldman Sachs Bank USA backing with full FDIC coverage
- + Top-rated mobile app with clean, intuitive UX
- + Excellent U.S.-based customer service
- + Marcus.com integrates personal loans, making it a one-stop hub
- - 4.50% APY is 35 basis points below Bask's top rate
- - No checking account or debit card
- - No ATM network access
Overview
Marcus by Goldman Sachs launched in 2016 as Goldman's first consumer-facing banking product after 147 years as an institutional and investment bank. The move was significant: Goldman Sachs Bank USA brought its balance sheet and regulatory standing to retail deposits, giving consumers FDIC insurance backed by one of the most scrutinized financial institutions in the world. That brand weight translates directly into consumer trust that smaller online banks have to earn over years.
The savings account itself is a clean execution of the HYSA concept. You deposit money, earn 4.50% APY compounded daily and posted monthly, and pay nothing in fees. There is no minimum deposit to open and no minimum balance to maintain the rate. The web and mobile interfaces are consistently praised for clarity: no confusing promotions, no upsell traps, no hidden menus. What you see is what you get.
One differentiator worth noting is Marcus.com's integration with Goldman's personal loan product. If you want to park savings and potentially take a personal loan for a large purchase or debt consolidation, Marcus lets you do both from the same account dashboard. That integration is not unique in fintech broadly, but it is rare among HYSA providers of Marcus's caliber.
Rate History
Marcus has tracked the Federal Reserve rate cycle reliably since 2022. The account started 2022 near 0.50% APY, rose in lockstep with Fed hikes through 2023, and peaked above 5.00% APY in late 2023. Rates have settled near 4.50% following Fed cuts in late 2024. Marcus has occasionally trailed the very top of the HYSA market by 25 to 50 basis points, consistent with the premium it commands for brand recognition and service quality. Savers who prioritize the absolute top rate will look elsewhere; those who value a Goldman name on the account will consider the spread reasonable.
Fees and Limits
- Monthly fee$0
- Minimum opening deposit$0
- Minimum balance for full APY$0.01
- Outgoing wire fee$0
- Maximum transfer limitsUp to $125K/day
How to Open
Opening a Marcus savings account at marcus.com takes roughly five minutes. You need a Social Security number, a government-issued ID, and an external bank account for the initial transfer. No hard credit pull is made, and there is no minimum deposit requirement to complete the application.
- Visit marcus.com and select Savings
- Enter personal details and SSN for identity verification
- Link an external bank account via routing and account number
- Initiate an ACH transfer to fund the account (1-3 business days)
- Download the Marcus app to manage on mobile
App and Online Banking Experience
The Marcus app consistently earns high marks, with App Store ratings around 4.6 out of 5 and Google Play ratings near 4.4. The interface is minimal and purposeful: balance display, transfer initiation, account settings, and rate information are all accessible within two taps. Goldman has invested meaningfully in the product, and it shows. Customer service by phone is staffed with knowledgeable U.S.-based agents who can handle complex transfer questions. For savers who want a polished digital experience alongside a strong rate, Marcus is the clearest choice in the 4.50% APY tier.
FDIC Insurance and Safety
Marcus deposits are held by Goldman Sachs Bank USA, Member FDIC (FDIC certificate number 33124). Coverage is up to $250,000 per depositor per ownership category, with joint account coverage doubling to $500,000. Goldman Sachs Bank USA had total assets of approximately $432 billion as of Q4 2025, making it one of the largest FDIC-insured banks in the United States. There is essentially no material counterparty risk for consumer deposit amounts.
- Savers who want Goldman Sachs backing and a premium app experience
- Those who also want a personal loan from the same institution
- Anyone who values customer service over maximizing to the last basis point
- You want the absolute highest APY (Bask at 4.85% or Bread at 4.75%)
- You need a full-service bank with checking and ATM access
- You are looking for goal-based savings buckets (Ally is better for this)