Bank Review
Marcus by Goldman Sachs Review 2026
Marcus launched in 2016 as Goldman Sachs's consumer banking arm. In 2026 it pays 4.90% APY on its high yield savings account with no fees and no minimum deposit. It is one of the simplest HYSAs on the market. Here is who it fits best and where it falls short.
Current APY
4.90%
Marcus by Goldman Sachs
Online Savings Account
Rate as of 2026-05-15. Source. APY may change at any time. FDIC insured to $250,000 per depositor, per institution, per ownership category.
All rates current as of 2026-05-15. APY may change without notice. Methodology.
Marcus Account Details
| Current APY | 4.90% |
| Monthly Fee | $0 |
| Minimum Deposit | $0 |
| FDIC Insured | Yes — up to $250,000 |
| Checking Account | No |
| Debit Card | No |
| Mobile App | iOS and Android |
| ATM Network | None |
| Customer Service | Phone + secure message |
| CD Options | Yes — 6 to 72 months |
What Marcus Does Well
The rate is the main reason to open a Marcus account. At 4.90% APY APY, it sits in the top three HYSAs by yield. The account has no fees, no minimum deposit, and no minimum balance to maintain the rate.
Goldman Sachs is one of the most recognized names in global finance. For savers who want the institutional backing of a 150-year-old bank plus a top-tier rate, Marcus is the combination that nothing else matches.
Marcus also offers CDs at competitive rates for 6 to 72-month terms. If the Fed looks likely to cut rates and you want to lock in today's yield, a Marcus CD lets you do that without moving to a new institution.
Where Marcus Falls Short
Marcus is not a full-service bank. There is no checking account, no debit card, and no ATM network. If your savings account is also your primary spending account, Marcus is not the right fit.
The rate is 0.10% below Wealthfront's 5.00% APY. On a $50,000 balance that is $50 per year. If maximizing every dollar of yield is the goal, Wealthfront wins the rate war.
Customer service is phone and secure message only. There are no branches and no live chat option.
Who Should Open a Marcus Account
Marcus is the right pick if you want to keep your savings at a bank you recognize, with a rate you would not find at your local branch. It works best as a standalone savings account linked to a checking account at a different bank.
If you already have a checking account you like, Marcus gives you 4.90% APY APY on the savings side without asking you to restructure your banking.
Who Should Skip Marcus
Skip Marcus if you want everything in one bank. Ally, Capital One, and SoFi all offer savings plus checking under one roof.
Skip Marcus if getting the absolute highest rate is the only goal. Wealthfront pays 5.00% APY. The difference is small, but if you have $100,000 or more in savings, it adds up.
Our Take
Marcus is the cleanest HYSA on the market for most people. No fees, no minimums, strong rate, and Goldman Sachs backing. It is not the highest rate, and it is not a full bank. But for a savings account that you link to your existing checking, it is hard to beat.
Open Marcus Account →Frequently Asked Questions
Is Marcus by Goldman Sachs safe?
Yes. Marcus is a division of Goldman Sachs Bank USA, which is FDIC insured up to $250,000 per depositor. Goldman Sachs has been in operation since 1869 and is one of the largest banks in the United States.
Does Marcus have a checking account?
No. Marcus offers a high yield savings account and CDs, but no checking account. If you need checking, pair Marcus savings with a checking account at another bank and link them via ACH transfer.
How do I deposit money into Marcus?
You fund a Marcus account via ACH transfer from your existing bank account. Transfers typically take 1 to 3 business days. There is no cash deposit option and no ATM network.
Is Marcus better than Ally Bank?
Marcus pays a higher rate (4.90% vs 4.25% APY). Ally offers a more complete banking ecosystem with checking, a debit card, and ATM access. If rate is your only priority, Marcus wins. If you want one bank for everything, Ally is the better fit.
What happens to my Marcus rate if the Fed cuts rates?
Marcus passes rate changes through to customers, usually within weeks of a Fed decision. If you want to lock your rate for 6 to 72 months, Marcus CDs are the alternative — you set the rate on day one and it does not change.