Who is the Marcus Online Account best for?

If you don’t mind managing your savings online, the Marcus Online account is worth considering. With its high APY, lack of fees, no opening deposit and 24/7 phone support, there’s little missing.

However, if you frequently need to withdraw funds or deposit cash regularly, consider a money market account, which comes with a debit card for easy access to your funds.

What we like about the Marcus Online Savings Account

Marcus by Goldman Sachs is an online bank, and while that often means no cash deposits, it also means it can offer stronger rates and fewer fees.

The Marcus Online Savings Account offers a suite of financial tools within the Marcus app to help you keep track of your investments. And you’ll also enjoy the reputation of a major player in the banking space. Many other competing digital banks are from less-proven banks, so there’s some peace of mind in getting behind an established bank like Marcus.

Competitive APY

The account offers a very high 3.65% APY, which is much higher than the national average of 0.38%⁽¹⁾. And you start earning this interest the moment you initiate your transfer, unlike other banks that wait until your funds land in the new account.

Plus, you’ll earn an even higher rate when you refer a friend to open a Marcus Savings account. You and your friend will earn an additional 0.25% APY referral bonus for three months as long as they’re a new Marcus customer.

Save more thanks to fewer fees

Many savings accounts with rates this competitive ding you with monthly fees that can slowly eat away at your savings. The Marcus Online Account won’t charge you any monthly maintenance fees, doesn’t require an opening deposit and has no minimum tiered balance requirements.

Unlimited transactions

Most savings accounts have a monthly withdrawal limit of up to six per month — but that’s not a worry with this account. Marcus sets no limit to the number of withdrawals or transfers you can make from your Marcus Online account. You can move money around as often as you want without getting charged excessive transaction fees.

24/7 customer support

Online banks often fall short in the customer support area, but Marcus makes up for its lack of physical branches by offering 24/7 phone support for help with savings accounts and CDs at 1-855-730-7283.

Where it falls short

There isn’t much to harp on this account for. Its only shortcomings are typical with other online savings banks — it doesn’t accept cash deposits and lacks in-person support.

The other drawback is if you were hoping to keep your savings and checking accounts with the same bank. Marcus only offers savings, CDs, investments, loans and credit cards, so you won’t find any checking accounts here.

Compare Marcus Online to other savings accounts

Narrow down top savings accounts by fees, APY, opening deposit and more. For an even closer comparison, tick the Compare box to see up to four accounts side by side.

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Product	Finder Score	Account type	Annual Percentage Yield (APY)	FDIC or NCUA insured amount	Minimum balance to earn interest	Minimum deposit to open	Bonus offer
Promoted Finder score 8.8 Great Uphold USD Interest Account	Finder score 8.8 Great	Savings app	Up to 4.50%	Up to $2.5 million	$1	$0	Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.8 Excellent American Express® High Yield Savings Account	Finder score 9.8 Excellent	Traditional savings	3.60%	Up to $250,000	$0	$0	Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.4 Excellent NexBank HYSA through Raisin	Finder score 9.4 Excellent	Traditional savings	4.31%	Up to $250,000	$0	$1	Top Offer Up to $500 bonus for new customers with qualifying deposits using promo code BOOST.	Go to site More info Compare product selection Compare	loading
Finder score 9.2 Excellent SoFi Checking and Savings	Finder score 9.2 Excellent	Traditional savings,Checking	Up to 3.80%	Up to $250,000	$0	$0	Top Offer Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until January 31, 2026.	Go to site More info Compare product selection Compare	loading
Finder score 9.4 Excellent Varo	Finder score 9.4 Excellent	Traditional savings	Up to 5.00%	Up to $250,000	$0	$0	Go to site More info Compare product selection Compare	loading
Finder score 9.2 Excellent Greenlight	Finder score 9.2 Excellent	Kids banking	Up to 6.00%	Up to $250,000	$0	$0	Go to site More info Compare product selection Compare	loading

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How we picked these

What is the Finder Score?

The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.

To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.

Read the full Finder Score breakdown

Customer experience

A well-established bank with over 150 years in business, Marcus is the online banking branch of Goldman Sachs. It’s accredited by the Better Business Bureau (BBB) with the highest rating of A+, which is based on how well a business responds to customers and complaints.

For a bank that’s been in business for over a century, it has very few complaints compared to other online banking options. On Trustpilot, Marcus doesn’t do too well, though most complaints are about credit cards and not its online savings account. Grievances related to its deposit accounts are typical, such as complaints of locked accounts, issues involving fraudulent charges and external transfers not going through.

Many happy customers report no issues and enjoy the speed of transfers and withdrawals, high APY and easy-to-use app. A lot of customers also report their Marcus savings account is quick to raise rates when everyone else is, which helps it stay competitive.

Finder Scores: What they mean

If you want peace of mind, this rating will give it to you. These products offer the best value and outcomes considering various product features, terms, conditions and price.

Well-balanced products that provide what you need, offering a healthy mix of competitive features at a good price. However, they're not quite the best in class.

Bottom line: You can find better, but these products still offer reasonable value and have the basics sorted.

These products may not offer much value in the long run, and there are better options available.

Marcus Online Savings is not currently available on Finder

Have you considered SoFi Checking and Savings?

Earn up to 3.80% APY on savings by meeting deposit requirements or by paying the SoFi Plus subscription fee every 30 days, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on savings. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $2M of additional FDIC insurance through a network of participating banks.

• Up to 3.80% APY on savings by meeting deposit requirements or by paying the SoFi Plus subscription fee every 30 days
• $0 monthly or overdraft fees
• Get up to a $300 bonus with direct deposits of $5,000 or more
• Member FDIC

Learn more

No thanks, compare other savings options.