Marcus Bank is one of the most well-known online banks in Houston, TX. Marcus has been around since 2013 and has a plethora of banking services for everyone from consumers to small businesses. If you’re looking for an account with low fees and high interest rates, give Marcus Online Savings Account – Now .085% APY! a look!

The “best high-yield savings account” is the Marcus Bank Online Savings Account. This bank offers a .085% APY on all balances.

Marcus Bank Online Savings Account – Now .085% APY!

Marcus Bank increased the rate on their online savings account by 0.25 percent to 0.85 percent APY as of June 2022. (up from 0.60 percent APY in May 2022).


You’ve probably heard of Goldman Sachs, the multinational financial bank, but Marcus, their digital division, may be unfamiliar.

Marcus by Goldman Sachs is an FDIC-insured internet-only bank that offers personal loans, a high-yield online savings account, and certificates of deposit (CDs). Marcus Bank’s online savings account, named after Goldman Sachs founder Marcus Goldman and created in 2016, is consistently among the top earning accounts accessible nationally.

Nerdwallet named Marcus one of the “Best Banks for Savings in 2019” and GOBankingRates named Marcus one of the “Best Savings Accounts of 2020.”

This article will teach you how to: is the source of this photograph.

There are no fees and no minimum deposit requirements with the Marcus savings account.

Rates for Online Savings Accounts

According to recent FDIC statistics, the current average return on a money market account and 0.07 percent APY on a savings account is merely 0.08 percent APY and 0.07 percent APY, respectively.

How to Make a Deposit and Fund Your Account

To qualify for the high APY, you must fill your account within 60 days of starting it and have a positive balance afterwards.

You may deposit money into this savings account in four different ways.

You can:

  • 1. Transfer monies from your savings account to an external bank account (Marcus will not charge fees for this, but your other bank may).
  • 2. Set up direct deposit payments from your paycheck or Social Security, whichever comes first.
  • 3. make a Transfer of data by wire inside the United States, or
  • 4. Send a check to Goldman Sachs Bank USA, P.O. Box 4571, Carol Stream, IL 60197-4571.

After you’ve created the account, you may transfer money using the following methods:

  • Transfer of data by wire
  • Electronic transmission

Important: Marcus accepts same-day transfers of $100,000 or less from other banks. Marcus will handle transfers received by 12 p.m. EST on a business day by 5 p.m. EST the following day. On the day your request is received, Marcus will begin paying you interest on the cash you move.

Interest Compounding and Crediting

Marcus savings account interest is compounded daily and credited monthly.

Transactions and Withdrawals

You may make up to 6 free transactions per month from a savings account, according to the regular and strictly regulated restriction. There is no excessive withdrawal charge, however you will not be permitted to withdraw more than this amount. Some banks may enable you to exceed this limit if you pay a charge.

Marcus doesn’t have a debit or ATM card for their savings account, so if you want to withdraw money, you’ll have to move it to another account.

Marcus has no ATMs or physical locations, which is common of online banks but vital to note.

There are no Marcus ATMs, debit cards, or credit cards, however the Goldman Sachs card is available. The Apple card, Goldman Sachs’ lone credit card, had a rocky start. When it originally came out, the card was criticized for allegedly discriminating against women in the algorithm that evaluated a prospective user’s credit and credentials. With two high-profile companies collaborating on a card, such as Goldman Sachs and Apple, the issue was soon discovered, and customers were put off by such an obvious flaw. However, now that the media frenzy has died down and the faults have been resolved, the Apple card is regarded a good product for die-hard Apple fans.

Marcus has an average user rating, although the data is a little shaky. This is due to the fact that many customers report on their experiences with the Apple card rather than Marcus as a bank, making it difficult to summarize consumer experiences with the online bank. Nonetheless, the following are the final results: Marcus received 3 ratings out of 5 on WalletHub, based on 128 reviews. On DepositAccounts, the bank received 3 stars out of 165 ratings. Marcus has a 3.5 out of 71 ratings on Trustpilot. 

When you bank entirely online, you always face the danger of not being able to resolve your issues in a timely and, in some situations, complete manner. Marcus, unfortunately, is no exception. When their accounts were momentarily and arbitrarily locked, several customers reported being unable to reach customer service agents and expressing irritation with delayed, inadequate service. 

Customers seem to be either incredibly happy or highly dissatisfied with Marcus, so this may be a situation where you’ll want to test out Marcus customer service for yourself. If you have any issues, you can phone their support line before establishing an account to see what that experience is like to have a sense of what to anticipate, although this isn’t a perfect measure. Customer Service is available Monday through Friday from 8 a.m. to 10 p.m. ET, and Saturday and Sunday from 9 a.m. to 7 p.m. ET, or you may call (855) 730-7283.

Marcus’ web interface is reported to be more user-friendly than other banks, which is vital when it comes to digital money management. On Google Play, the app has a rating of 4.5 stars, while on Apple, it has a rating of 4.9 stars.

The “best online savings account” is a bank that offers an APY of .085%. The Marcus Bank Online Savings Account is now available to all US residents.

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