Goldman Sachs Bank USA Reviews (52)

Rated 3.63 stars out of 5 - based on 24 reviews
  • Jul 15, 2021 |

    Online Savings Rates

    Marcus is the very best online banking experience that I have ever had.
    Review on the Online bank

  • Apr 22, 2021

    0.65% APY 9m-CD looks good even if interest rates have bottomed.

  • Apr 7, 2021 |

    Online CDs 18 Month Rates

    I have a few million dollars in cash across several online banks. It is not exciting with interest rates so low, but I will take 20 grand or so in interest, even if it is fully taxable over the $5 in interest that Chase would give me to keep the money there. Marcus is the only one where I will routinely go over FDIC limits and it is one of very few which isn't run by Mickey Mouse.
    Review on the Online bank

  • Jan 15, 2021 |

    Online Savings Rates

    Marcus really doesn't disappoint. Great customer service. I could be angry about the rate but look at this other brands.
    Review on the Online bank

  • Oct 27, 2020 |

    Online CDs 7 Month Rates

    Had a 1 yr CD renew without my knowledge. No notice, nothing. 12 days passed and now they want to charge me a penalty. Rate is miserable and money cannot stay there. Not very nice.
    Review on the Online bank

  • Aug 6, 2020 |

    Online Savings Rates

    I was very disappointed to learn that Marcus quietly began offering much higher rates to aarp members earlier this year. I am in that demographic and a Marcus customer but I cannot take advantage of the rate because I am not a member? It is also age discrimination.
    Review on the Online bank

  • Jul 17, 2020 |

    Online Savings Rates

    My own experience with Marcus was terrible. I opened the account, they failed to properly track the opening deposit, representative blamed me for the failure and I lost weeks of interest. I was told a rep would call me to discuss and that hasn't happened. Not worth the time or aggravation.
    Review on the Online bank

  • Jul 2, 2020

    Online CDs 12 Month Rates

    Goldman Sachs, founded in 1869, launched Marcus: by Goldman Sachs® in 2016. Commonly referred to as simply Marcus, the new consumer bank diversified its savings and loan offerings to retail customers. Until then the bank had operated as an investment bank and trading house using funds primarily from the wholesale market. I hope our host will update the name to avoid any confusion. Searching "Goldman" will not lead one directly to Marcus.
    Review on the Online bank

  • Jun 22, 2020

    I have been very pleased, called on the phone a few weeks ago. Excellent service. Several of the friends signed up as well. Just HOPE the rates stay competitive. WISH not drop from 1.30 to 1.05%
    (73)
    Review on the Online bank

  • Jun 6, 2020 |

    Online Savings Rates

    I had to call the other day about a CD coming due. Was easy to reach someone and CSR was courteous and helpful.
    Review on the Online bank

  • Apr 18, 2020 |

    called customer service April 18, 2020, had to wait 40 minutes on hold, talked to a well informed polite person for as long as I wanted. He said CDs are not callable, previously I was told they are. so you figure it out. in this constantly lowering of rates time it may become important. Why should Golman pay consumers just under 2% when the Fed gives them all they want for .025% or less ??

  • Mar 17, 2020

    Online CDs 12 Month Rates

    this CD is callable. so if rates generally drop and the bank does not want to pay current rates they can cancel the CD and pay you off. Phone help is effective but they forget to tell you to sign a in case of death form, they have no email help, you can stop them from selling some of your info, they have an arbitration clause.
    Review on the Online bank

  • Mar 6, 2020 |

    Online Savings Rates

    Been a customer since the GE Capital days. Service was always outstanding. It is no longer possible to reach a human being and that is fine as long as you don't need to reach one.
    Review on the Online bank

  • Mar 6, 2020

    Online CDs 12 Month Rates

    Just called them and they will not allow me to open a CD in my trust name?? Never had a problem with that before at any bank.
    Review on the Online bank

  • Jan 12, 2020 |

    Had 3 CDs and High Yield Savings. Then bought their 1 yr maturity CD at APY 2.05. 12 days afterwards noted rate increase to 2.15 APY. Cursed by bad timing then got message my rate was increased to 2.15. I am really impressed with their customer service. Excellent web site, competitive rates in high yield savings (1.7 APY) and the best options in choices of CDs. Added bonus is as soon as CD is funded with ACH transfer you get zero lag for interest credit before actual funds in their account. Web site is easy to use and provides options for beneficiaries. Best overall on line in my option. Other accounts at PNC (high yield savings) and Barclays (high yield savings and CDs)

  • Aug 10, 2019 |

    Online Savings Rates

    I have been very pleased here for years with all of the name changes, etc (GE Capital to Goldman Sachs to this). I did not appreciate the recent and quiet rate drop am glad that I learned about this no penalty CD. I was able to lock in a rate for 13-months with no penalty and only a $500 minimum.
    Review on the Online bank

  • Sep 15, 2018 | | Replies 1

    Online Savings Rates

    I made a mistake with the timing of some transactions and tried to move $300k into my Goldman Sachs account from a corresponding account before the money had arrived in the corresponding account. A few hours after I entered the transaction as an immediate transfer, I realized it would be rejected and tried to call Goldman to cancel the transaction because I thought they would charge me some enormous fee. I reached the rep in a second and he said that there is never a fee for anything like this, or a fee at all! Right there they won my business. Barclays or or Ally or Synchrony would have raped me for this.
    Review on the Online bank

    Mustbenice | Dec 15, 2018

    Well one would wait for it to clear before trying to move it somewhere else. Besides the moving of the money from bank to Bank loses interest. Those banks have similar interest rates so your not really earning that much more .

  • Jul 13, 2018 |

    Online Savings Rates

    Opened here because the rate is always higher than the other established places. Every thing is easy, but I wish they would be faster to raise their rates.
    Review on the Online bank

  • Jul 9, 2018 |

    Online Savings Rates

    I have been using Marcus for over 6 months. Their CSRs are helpful and opening up an account was easy. Linking to external accounts (4) only produced one hitch but Marcus sleared that up. The transfers go through pretty quickly and they are aggressive at hiking their deposit rates before other online banks.
    Review on the Online bank

  • Jun 24, 2018 |

    Online Savings Rates

    I had an issue with a large transfer from HSBC that was delayed (by HSBC of course). Meanwhile I had made some transfers out of my Marcus account and realized I would be dramatically overdrawn. I called Marcus and the first thing that their fellow explained is that I would never ever be charged a fee. I found that very refreshing.
    Review on the Online bank

  • Apr 29, 2018 |

    Online Savings Rates

    Marcus is spot on. Fast transfers and good rate. Some rates may be higher but the banks are shady and you lose money with fees and access.
    Review on the Online bank

  • Apr 18, 2018 | | Replies 1

    Online Savings Rates

    Been with Ally and several others. I opened the OSA with these guys and was immediately sold after seeing the ACHes went through immediately. This happened both in and out. I cannot stand all of the holds that other banks given. Transfers here are instantanious.
    Review on the Online bank

    TimH | Jul 9, 2018

    They do put a hold on your account. If you notice when the transfer is initiated and when the money is actually AVAILABLE, there is a delay. However, they will credit interest to your account IMMEDIATELY even on uncleared funds which other online banks do not.

  • Apr 6, 2018 |

    Online Savings Rates

    There are plenty of good banks on the list (and plenty of not so good ones). I have found Marcus to the most user friendly.
    Review on the Online bank

  • Mar 14, 2018 |

    Online CDs 60 Month Rates

    The early withdrawal penalties are confiscatory. 270 days in interest as a penalty to cancel a 1-year CD! Most banks change only 3 months.
    Review on the Online bank

  • Jan 31, 2018 |

    Online Savings Rates

    Rates are a little lower than the best rates, but it is quality outfit where service matters. I cannot say the same of all of the places on the list.
    Review on the Online bank

  • Jan 3, 2018 | | Replies 2

    Online Savings Rates

    I rate Marcus one star. Before Marcus, I had the GE account followed by the GS Bank. Now the name has changed to Marcus and it looks more like a brokerage account and advertisement for additional Goldman Sachs services and products. To many steps to review your posted transactions. I was expecting a Fed Gov't deposit on December 29th and it posted January 2, 2018. However, in other accounts (Sallie Mae and Fidelity) my allotments posted December 30th. What gives? Also, has anyone noticed how they post same day transactions? Your balances are sometimes out of sequence. For instance, how can the system list a deposit balance of $25,000 under the balance of $20,000? Balances are not rolling balances. They are posted more like stock positions in a brokerage account. Each deposit/withdrawal is listed like a stock purchase/sell. Just because Marcus has a high dividend rate, does not make it five stars. You can't email them concerns and the online chat limits topics of discussion. Telephone calls for assistance are hit and miss. If you are looking for bare bones... this is the account for you. If you need assistance, timely transactions to post, accurate tracking, or something out of the ordinary look elsewhere.
    Review on the Online bank

    Herman in Miami | Jan 3, 2018

    Agree, 100%

    Dave in San Jose | Oct 18, 2018

    Disagree, 100%

  • Nov 18, 2017 |

    Online CDs 12 Month Rates

    Goldman throws around its big ad dollars and gets a lot in return. One thing that they are clearly getting from this site and others is a willingness to gloss over the fact that the early withdrawal penalties are exculpatory. 270 days of interest on a 1-year CD is not market! 3 months is. Think about that before you lock in. Barclays and Sallie Mae still charge only 180 days on a 5-year!
    Review on the Online bank

  • Oct 28, 2017 |

    I will not be using them again. Two big downsides of GS Bank that I experienced. The first is how significant is their early withdrawal penalty and the second is that they do not have a grace period when opening an account. I tried to cancel an account that was funded two days ago and was charged with a whopping 1.2% penalty. First time I have ever lost money on a CD deposit.
    Review on the Online bank

  • Oct 23, 2017

    Online CDs 12 Month Rates

    hard to get acct opened more than 5 day to get mini dep. made still waiting
    Review on the Online bank

  • Oct 16, 2017 |

    I have saving, and CD with GS, Discover bank and my local bank. Discover offered a 12 month CD for 1.35%. Went to GS to check them, they were offering 12 mo for 1.5%. Took out 3 CD for grandchildren and 3 days later, they changed rates to 1.65%. They gave it to me automatically. All on line. Their online savings is 1.20 %.

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