Available nationwide, open a Marcus by Goldman Sachs Bank Online Savings Account account and earn 1.90% APY on all balance amounts. Goldman Sachs Bank is one of the highest tiered financial institutions out there and they are offering a great rate. Their customer service is available by phone, e-mail, or physical mail. Also, You can save with ease knowing that your money is FDIC insured and that the interest is compounded daily to maximize your earnings!
Like most online accounts, Marcus by Goldman Sachs Bank Online Savings Account does not come with many in-person services. Goldman Sachs Bank limits your withdrawal options to electronic transfers ordered by phone or initiated online through the bank’s website, and while these services are free they may increase the time it takes to access your funds. To get started, click the “Sign Up” button below, when you are on Synchrony Bank’s web page press get started and begin inputting your information!
If you would like more information about other savings offers, refer to our reviews below!
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Table of Contents
- 1 Marcus by Goldman Sachs Account Credentials
- 2 Marcus by Goldman Sachs Account Rates
- 3 Marcus by Goldman Sachs Account Pros & Cons
- 4 Marcus by Goldman Sachs Account Fees
- 5 Marcus by Goldman Sachs Account Info
- 6 Accessing Your Money
- 6.0.1 Online
- 6.0.2 Use your routing and account numbers
- 6.0.3 Log in to your external bank
- 6.0.4 Trial Deposits
- 6.0.5 Automatic Transfers
- 6.0.6 Wire Transfer
- 6.0.7 Here’s what you need to know about wire transfers
- 6.0.8 Deposit by Check
- 6.0.9 Check requirements
- 6.0.10 From an External Bank
- 6.0.11 Direct Deposits
- 6.0.12 Payroll
- 6.0.13 Social Security Benefits
- 7 Marcus by Goldman Sachs Rate Requirements
- 8 Bottom Line
Marcus by Goldman Sachs Account Credentials
Is the Marcus by Goldman Sachs Bank Online Savings Account right for you?
|Good For||Bad For|
|Those looking for a high interest rate on savings||Those who prefer in-person banking services|
|Those with a large savings balance||Withdrawing money|
Marcus by Goldman Sachs Account Rates
|Balance||Annual Percentage Rate|
Rates are effective as of August 09, 2018, and are subject to change.
Marcus by Goldman Sachs Account Pros & Cons
Marcus by Goldman Sachs Account Fees
|Account Type||Marcus by Goldman Sachs Bank Online Savings Account|
|Minimum Opening Deposit||$0|
|Minimum Balance Requirement||$0|
|Withdrawal Fee||$0, can withdraw more than 6 times monthly|
Marcus by Goldman Sachs Account Info
- Account Type: Marcus by Goldman Sachs Bank Online Savings Account
- Availability: Nationwide
- Expiration Date: None
- Credit Inquiry: Unknown, Let us know!
- ChexSystems: None
- Opening Deposit: Any amount
- Credit Card Funding: Unknown, Let us know!
- Monthly Fee: $0
- Household Limit: None listed
- Closing Account Fee: None
Accessing Your Money
- You can schedule an electronic fund transfer (ACH transfer) 24/7 online or call toll-free at: 1-855-730-7283;
- Monday to Friday from 8 am – 12 am E.T. to call and access your account.
- Outside US, call at 1-319-841-5200.
- Transfers requested after 6 pm E.T. or on a non-business day will not be processed until the next business day.
- To get started you’ll need to link your external bank account. You’ll need a bank account in your name and owned by you (individually or jointly). You must have full right to the funds, the account must not be a business account, and your bank must be located in the U.S., U.S. territories of U.S. Virgin Islands or American Samoa, or in/on a U.S. military base or U.S. embassy.
- You can choose to link your external account either by providing an external bank account number and routing number or by logging in to your external account.
Use your routing and account numbers
- You can find these details at the bottom of your check, on a bank statement or within your external bank’s online banking website.
- They will use your routing and account numbers to confirm you have access to the external account.
Log in to your external bank
- Choosing this option may speed up the time it takes to link your account and transfer your funds.
- When you log in to your external account, they confirm that your external bank’s username and password can access your external account.
- If neither of the above methods is successful, you may be able to link your external account by verifying trial deposits.
- They’ll make two small trial deposits into your external bank account (such as $0.01 and $0.06).
- Check your external account to verify the deposits are there. You’ll see them as credits.
- Log in to your savings account at Marcus.com and enter the trial deposit amounts within 14 days.
- Reach your savings goals sooner by setting up recurring deposits. They’ll automatically transfer funds from your linked accounts and deposit into your Marcus savings account. Just select the frequency and timing for your deposits, and you’re on your way.
- Wire transfers let you send money between your Marcus savings account and accounts you own at external banks in the U.S., U.S. territories of U.S. Virgin Islands or American Samoa, or in/on a U.S. military base or U.S. embassy.
Here’s what you need to know about wire transfers
- To send a wire transfer, please call the toll-free number; 1-855-730-7283, Monday to Friday, 8 am -12 am E.T. Wire transfer requests made after 4 pm E.T. or on a non-business day will not be processed until the next business day.
- Please have your Marcus savings account and external bank account information available.
- Wire transfers are subject to our wire transfer security procedures.
Deposit by Check
- You can also deposit into your Marcus savings account by check. Please make the check payable to your name (make sure the name is the same as on the account) or Goldman Sachs Bank USA. Please endorse the back of any check with the words “For Deposit Only” and include your Marcus savings account number. Mail checks to;
- Goldman Sachs Bank USA
P.O. Box 4571
Carol Stream, IL 60197-4571
- Goldman Sachs Bank USA
- Your deposit may be returned if certain requirements are not met, such as:
- The check is not endorsed, or is endorsed improperly.
- You or Goldman Sachs Bank USA is not the payee on the check.
- You don’t provide us with the correct account number for the Marcus savings account into which you want the check deposited.
- Additionally, we don’t accept the following types of items for deposit:
- Money orders
- Third-party checks (checks made payable to someone other than you)
- Starter checks
- Temporary checks
- Double-endorsed checks (checks with more than one endorsement)
- Checks older than six months
- Postdated checks
- Foreign checks
- Incomplete checks
- Traveler’s checks
- Counter checks
- Checks with restrictive legends
- Other types of items that we have determined not to accept
From an External Bank
- You may deposit funds into or withdraw funds from your Marcus savings account by having an external bank (directly or through a third party) initiate an electronic fund transfer into or from your Marcus savings account. You may also deposit funds into your Marcus savings account from an account you own at an external bank by having the external bank send a wire transfer to your Marcus savings account.
- You can direct deposit funds, such as all or a portion of your payroll or Social Security Benefits, directly into your Marcus savings account.
- Simply provide your employer with the Goldman Sachs Bank USA routing number (1240-8526-0) and your Marcus savings account number, and authorize the deposit of funds directly into your Marcus savings account.
Social Security Benefits
- You can go to the Social Security Administration website at www.ssa.gov to set up your direct deposits.
Marcus by Goldman Sachs Rate Requirements
- Open an Online Savings Account from Marcus by Goldman Sachs, by clicking on the table above.
- On the offer page, click “Open an account” then fill in the required steps.
- To open your Marcus by Goldman Sachs Online Savings Account, you’ll need:
- Must be a U.S. Citizen or Resident Alien
- Have a Social Security Number, a valid form of ID: U.S. Drivers License or State ID, and a valid U.S. address that is not a P.O. BOX
- Your name, address, telephone number, date of birth, employer, employment status, along with a copy of these identifying documents
- Sign the documents to finish set up.
- Fund the account within 60 days – Make deposits or transfer funds electronically from an internal account here or an external account at another bank.
When it comes to choosing a savings account, one thing everyone can agree on is that we all need one. Choosing the right one for your needs can be a bit more complicated, especially with the growing number of online banking options available. The features you should consider most include high interest rates, convenience when banking, secure banking, low (or no) fees, and no minimum to get started.
Based on the features you should look for when choosing a bank account, Marcus by Goldman Sachs Bank Online Savings Account is one of the best. Besides offering one of the highest APY rates available, there are also no fees or minimum requirements that you have to worry about. Unless you have a current relationship with your bank that you can’t let go of, there really isn’t any reason to choose another bank to help you grow your savings account.
If this offer did not suite you, please visit our list of the Best Savings Rates that are filled with various financial institutions from banks, credit unions, and even federal credit unions that are offering great rates!
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