Is Marcus by Goldman Sachs Legit? What Savers Should Know
Marcus is the consumer banking brand of Goldman Sachs Bank USA, an FDIC insured bank. Here is how your money is protected, what Marcus pays on savings and CDs, and what Goldman's retreat from other consumer products means for savers.
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Yes. Marcus is the consumer brand of Goldman Sachs Bank USA, an FDIC insured bank (certificate 33124) with about $758.8 billion in assets as of June 30, 2026. Deposits are insured up to $250,000 per depositor, per ownership category. Marcus pays 3.50% APY on its Online Savings Account (as of Oct 7, 2026) with no minimum, and 4.40% APY on CDs from 12 months to 6 years (as of Oct 28, 2026). Goldman is moving the Apple Card to Chase, but Marcus savings and CDs are still offered.
Marcus has been around since 2016 and is one of the best known online savings brands. Because Goldman Sachs has pulled back from parts of consumer banking, many savers ask whether Marcus is still a safe place for their money. Here is what we found.
Who owns Marcus?
Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA. All Marcus deposit products are issued by Goldman Sachs Bank USA, Salt Lake City Branch, which is FDIC insured under certificate 33124. We confirmed the certificate in the FDIC BankFind database, which lists the bank in New York with about $758.8 billion in total assets as of June 30, 2026.
Goldman bought GE Capital Bank’s US online deposit platform in April 2016 and launched Marcus later that year, starting with no fee personal loans and online savings.
Is my money FDIC insured at Marcus?
Yes, up to $250,000 per depositor, per ownership category. Money at Marcus and any other deposits you hold at Goldman Sachs Bank USA count toward the same limit. See how to insure more than $250,000 if you are near the limit.
Is Goldman Sachs getting out of consumer banking?
Goldman has scaled back other consumer products. On January 7, 2026, it announced an agreement to move the Apple Card program, more than $20 billion in card balances, to Chase over roughly 24 months. That deal covers the credit card. Marcus still offers its Online Savings Account, High Yield CDs and No Penalty CDs on its website (checked Oct 8, 2026).
If Goldman ever sold or closed the deposit business, your money would stay FDIC insured up to the limits, and deposits typically move to the acquiring bank. See what happens to your money if your bank fails for how deposit transfers work.
What does Marcus pay?
| Account | APY | Minimum | Good to know |
|---|---|---|---|
| Online Savings Account | 3.50% (as of Oct 7, 2026) | $0 | No fees; unlimited withdrawals and transfers |
| High Yield CD, 12 months to 6 years | 4.40% (as of Oct 28, 2026) | $500 | 10 day rate guarantee; 6 month term pays 3.95% and 9 month 4.30% |
| No Penalty CD, 7 months | 3.75% (as of Oct 8, 2026) | $500 | Withdraw the full balance without penalty from 7 days after funding |
| No Penalty CD, 11 months | 4.00% (as of Oct 8, 2026) | $500 | Same rules |
| No Penalty CD, 13 months | 3.80% (as of Oct 8, 2026) | $500 | Same rules |
Rates are variable and can change at any time. Each rate shows the date the bank says it applies; we check every figure against the bank’s own website.
Rates checked on marcus.com Oct 8, 2026. Rates can change before you open an account.
Marcus savings pays a solid rate with no rules, but not the top rate. At our latest check, Pibank Savings pays 4.40% APY with no monthly rules. On $10,000, that is about $440 a year vs. about $350 at 3.50% APY. Marcus CDs are more competitive; see Barclays vs. Marcus and Marcus vs. Bread.
What to watch for
- Savings rate below the leaders. 3.50% APY is good, but several accounts we track pay more with no rules.
- Transfer timing. Marcus processes transfers of $100,000 or less made by 12pm ET on a business day by 5pm ET that day; larger or later transfers take longer.
- No Penalty CD rules. You must withdraw the full balance, and only from 7 days after funding.
- CD minimums. CDs need $500; savings has no minimum.
What do customers say?
The Marcus app is rated 4.9 on the App Store and 4.9 on Google Play (checked Sep 28, 2026), among the best we track. Customer service is available 24 hours a day, 7 days a week. Marcus also runs a referral offer: if you refer a friend who is new to Marcus, you can both earn a 1.00% APY boost on Online Savings for 3 months (checked Oct 8, 2026).
How to check you are dealing with the real Marcus
- Type marcus.com into your browser instead of clicking links in texts or emails.
- Search FDIC BankFind for certificate 33124 and confirm the name Goldman Sachs Bank USA.
- Never share a password or one time code with someone who contacts you.
Our verdict
Marcus is legitimate and backed by one of the largest banks in the US. Its CDs are among the best we track, and its app and 24/7 support stand out. For savings, you can earn more elsewhere without monthly rules. Read our Marcus CD review, compare the best CD rates, or see the best high yield savings accounts.
Frequently asked questions
Is Marcus a real bank?
Marcus is a brand of Goldman Sachs Bank USA, an FDIC insured bank (certificate 33124). Deposit products are issued by Goldman Sachs Bank USA, Salt Lake City Branch.
Is my money safe at Marcus?
Yes, up to $250,000 per depositor, per ownership category, under FDIC insurance.
Is Goldman Sachs closing Marcus?
Goldman agreed in January 2026 to move the Apple Card to Chase. Marcus savings and CDs were still offered when we checked on Oct 8, 2026.
What is the Marcus savings rate?
3.50% APY on the Online Savings Account as of Oct 7, 2026, with no minimum deposit and no fees.
Does Marcus have a no penalty CD?
Yes. Terms of 7, 11 and 13 months, with a $500 minimum. You can withdraw the full balance without penalty starting 7 days after funding.
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