Logo
Home
>
Financial Products
>
Marcus Goldman Sachs: Check what you need to know

Marcus Goldman Sachs: Check what you need to know

07/25/2025
Robert Ruan
Marcus Goldman Sachs: Check what you need to know

Welcome to the complete guide on Marcus by Goldman Sachs, an online financial institution offering high-yield savings accounts and CDs. 

Marcus is a favorable choice for those seeking to optimize their savings.

Contrary to its limited service scope, Marcus does not provide options for traditional checking accounts, nor does it have physical branches.

  • High-yield savings accounts with APYs as high as 4.1%.
  • No fees for maintenance or account setup.
  • Simple online process with phone support available 24/7.
  • FDIC-insured deposits ensuring the safety of your funds.

For individuals focused on growing their savings without quarterly fees or requirements, Marcus stands out as a reliable and safe choice.

Maximize Your Earnings with Marcus

Marcus Goldman Sachs offers a host of benefits that cater to both new and seasoned savers.

The bank’s online platform is designed to provide superior returns through uncomplicated, fee-free banking products.

High-Yield Savings Accounts
Marcus provides savings accounts with impressive interest rates of up to 4.1% APY, significantly higher than traditional banks. This ensures your savings grow faster over time.
No Minimum Balance Requirements
You can open and maintain a savings account without needing to worry about keeping a minimum balance, making savings accessible to everyone.
Broad Range of CD Terms
Choose from a variety of CDs, including no-penalty options, offering flexible terms to suit different savings goals.
Comprehensive Customer Support
Enjoy peace of mind with 24/7 customer support available by phone, ensuring help is just a call away whenever you need it.
Safety of Your Funds
All deposits are FDIC-insured, meaning your funds are secure up to $250,000 per depositor, per bank.

Who Should Consider Marcus?

Marcus by Goldman Sachs is tailor-made for specific types of financial consumers.

If you identify with any of the following, Marcus might just be the perfect fit for you:

  • Individuals looking to earn higher interest on their savings.
  • Savers who prefer an online-only banking experience.
  • Those who want to avoid banking fees and minimum balance requirements.
  • Consumers who prioritize security with FDIC-insured deposits.

If you are someone looking for a straightforward savings vehicle that offers high returns with minimal fees, Marcus could be the right bank for you.

Weighing the Pros and Cons

While Marcus by Goldman Sachs offers powerful savings products, it’s important to consider both the advantages and disadvantages before opening an account.

Pros

  • Attractive Interest Rates

    High-yield savings accounts and CDs offer some of the best rates in the market.

  • No Fees Across the Board

    Forget about monthly maintenance fees and focus on growing your nest egg.

  • No Minimum Required

    Start saving with whatever amount you have available, without stressing over balance limitations.

  • Variety of CD Terms

    Flexible terms allow savers to choose between locking in funds or opting for more liquidity.

  • Round-the-Clock Customer Support

    Access help anytime with 24/7 phone support.

  • Safety Through FDIC Insurance

    Safeguard your funds with the assurance of federal insurance.


Cons

  • No Checking Accounts

    Marcus focuses on savings, which means no availability of checking accounts.

  • Online Transfers Only

    You must transfer funds to external bank accounts for spending.

  • No Cash Deposit Options

    Being an online bank, Marcus doesn’t offer cash deposit services.

  • Limited Banking Products

    Since 2024, Marcus has reduced its offerings to primarily savings-focused products only.

Why We at GreenItNet Endorse Marcus

At GreenItNet, we value financial products that offer powerful growth potential in the most straightforward manner possible.

Marcus Goldman Sachs earns our recommendation for its unique position in providing high-yield savings opportunities.

  1. Efficient and highly competitive rates that stand above many traditional banks.
  2. Elimination of typical banking fees.
  3. Commitment to customer service through 24/7 support.

How to Get Started with Marcus

Getting an account with Marcus Goldman Sachs is simple and can be done entirely online.

Follow these steps to start maximizing your savings potential:

Access official website

  • Visit the Marcus website at www.marcus.com.
  • Follow the guided process to apply for a savings account.
  • Call the customer service number listed on their website for any assistance.

Frequently Asked Questions


What products does Marcus offer?

Marcus focuses on high-yield savings accounts and CDs, ceasing its unsecured loans and investment products as of 2024.


Is there a minimum deposit required?

While CDs require a $500 minimum deposit, savings accounts have no minimum requirement.


Are there any fees?

No. Marcus prides itself on having zero monthly or maintenance fees.


Can you open a checking account with Marcus?

No, checking accounts are not part of Marcus’ offerings.


How fast can I transfer money?

Transfers are processed the same day if performed by 12 pm ET on business days, with a maximum of $100,000.


Is Marcus online-only?

Yes, Marcus operates entirely online with no physical branches or cash deposit options.


Final Thoughts From GreenItNet

Marcus by Goldman Sachs offers a powerful suite of products for those focused on maximizing their savings.

Its high-yield nature, combined with a zero-fee approach and the security that comes with FDIC insurance, makes it a distinguished choice for smart savers.

At GreenItNet, we recommend Marcus as a primary option for individuals who want their money to work harder, even without the traditional banking frills.

Robert Ruan

About the Author: Robert Ruan

Robert Ruan