Marcus by Goldman Sachs®  Reviews 168

I transferred a substantial 6 figure cash balance from my brokerage account to my Marcus savings account, only to find out after the fact that Marcus had previously closed the account without any prior warning or subsequent notification! Calls to Marcus Customer Service revealed that they closed the account because it had a zero balance for just 2 months, which is unbelievable because I had banked there for more than a decade and had zero balance occasionally in my savings account at ally, Capital One, American Express Savings, etc. without any issue. Since the savings account is the main entry and exit point at Marcus, I asked what they expect to do when my 2 CDs already there expired, only to be told by the "Supervisor" that I can transfer the funds to the linked external accounts on file. Obviously, Marcus is a bank that does not do "customer service" and is happy for substantial deposits there to go to their competitors. No wonder Goldman Sachs is not happy with this branch of their business and would like to get rid of it if possible, since it tarnishes their name and does not add to their profitability. Marcus does pay competitive savings rate, but that it a double-edge sword because they have to in the face of deposit losses. What goes around comes around, as I am also moving my substantial deposits to Capital One and others. The loss is Marcus'!

I needed to do a wire transfer to a bank I'd previously done one to, but was told that they no longer worked with that organization and that I had no option to get my money out other than a physical check being mailed. They assured me that they were mailing the check out via FedEx that day. When I called back four days later for a tracking number they said they didn't have one... yet, but gave me a case number for the tracking number to be created. I called back a little over a week after the original request to pull my funds out and they said now that the check was JUST sent the day prior through USPS and that they have no tracking number. Absolutely amateur hour BS and I still do not have MY money. Never bank with this institution. There are options with better rates and your money won't be tied up in nonsense.

Literally the worst online savings ever. They stole over $10,000 from me and could care less so looking forward to putting them all in jail while I get my money back.

I opened a Marcus savings account because of the advertised competitive rates, but my experience has been extremely disappointing. My account was locked without a clear explanation, and I was unable to withdraw my funds. Marcus required me to submit an affidavit but failed to send it on time, which created unnecessary delays.

As an international student in the U.S., I had set aside these funds specifically to pay my tuition fees. Because of Marcus’s delays, I was unable to make my tuition payment on time, which caused me serious stress and hardship. Even when I placed withdrawal requests, funds were not returned promptly, and customer service representatives were not able to provide clear or helpful answers.

Access to one’s own money and responsive service should be a basic expectation from any bank. Unfortunately, Marcus failed to meet that standard. I would not recommend them, particularly to students or individuals who rely on timely access to their savings.

Filling out an application for a CD. To get approved, you must except third party correspondence and we all know what that means. Spam emails, spam calls and spam texts. So I used my landline number which was ok with them. They would send verification numbers to my email. I kept getting fails online and would have to keep calling them and repeating ALL my personal info again and again. And just the dumbest people on the phone. Not worth the frustration. I hate that they have all my personal info now. Went to nerd wallet and found a better deal.

I had no complaints until I paid off my loan. I called in the person gave me the pay off... GREAT.. until the next morning and the person hit my pay off twice! This morning I looked at my bank balance and seen I was over drawn. I called and got the same person and she admitted the mistake it was way north of $10,000 so I said please correct and send me the money back. Thats where the runaround started . A manager was supposed to call me back . I waited 2 hours no call back... I called back run around # 2 got a manager after being told I couldnt talk to his boss.. Told maybe 10 business days or longer to get my money back. I paid off all my credit cards and everything outstanding and everything will be bouncing and I wont have any funds.. Nothing n Credit cards no debit card.. They didnt care. They admitted it was their fault their mistake .When I ASKED TO TALK TO A HIGHER UP THEY SAID NO ONE TALKS TO THE HIGHER UPS
Their mistake and they didnt care!!! Dont borrow from them .. if you have a problem .. your Stuck

I opened an ols(online saving account) on marcus.com from Goldman Sachs in 2019 and have used it since. On 6/19/25 I received an e- mail from marcus which seemed to be very important( but contained absolutely no actual information) to call them ASAP. I called the phone# 855-730-7283 and before I knew what happened They had froze my account. I talked to 6 or more reps,each dumber then the previous one for several hours. They have no authority to solve anything except to talk to me like I was a criminal and not a customer. Really Goldman, You can't do better then a low end no quality cheapest offshore customer service facility in the world. I'd give you a -5 but 1 star is all I got. There was absolutely no reason for that e- mail in the first place. 6 years zero issues Why did you really send that e-mail ?? I currently have approximately
$10,598.00 sitting in my marcus ols

If I could do a ----- I would. Was this close to calling my attorney general in my state as they held my money hostage. I called MULTIPLE times, regarding my inability to access my account and NO ONE could tell me what was wrong. I spent HOURS and HOURS literally on the phone chain demanding to speak with someone who actually had authority to tell me what the problem was, and NO ONE could answer me. Eventually, after near panic attacks and anxiety out the yang, they stupidly decided I was not legal on some level and sent back my money to the bank it came from. IT WAS OUTRAGEOUS! DO NOT DEAL WITH THIS BANK!

Do not get this bank at all. They had my money for over a month and I can't get it out and there representative and Supervisor no one seem to be help at all. They need better representative and procedures in places. Since May and we in June and still have not received my money.

Nightmare avoid at all costs. Contacted me to ask if I was a PEP (politically exposed person) which I am not. Never heard of the MP they thought I was connected to. I have no connection to politics whatsoever. Wouldn’t give me any info either as to where they got the incorrect information from (despite GDPR requiring all data to be accurate). Wish I’d read their reviews before wasting my time. Don’t give them your money.

After transferring money from Ally Bank to purchase a CD with Marcus, I got an email from a third bank I do business with (First Interstate) that money was sent from First Interstate to Goldman Sachs! Nobody at First Interstate, Ally or Marcus will tell me how First Interstate knew I transferred this money. All I know is this dilemma started by transferring money to Marcus. Marcus says they had nothing to do with it, but it has never happened any other time with any other bank. Who else did Marcus share my personal Information with?

This is a terrible credit card! They say there is rewards, but they only apply at GM dealerships. When you call the number about the rewards they hand you over to 10 different people. It’s a joke, a scam, a misrepresentation. Ultimately they will pay you 1/4 of the points per dollar. On top of this their fraud protection is a completely inadequate, and even when I went through the whole story multiple times they did not return my money. Apparently they take the fraudster merchants word over my adamant assertions that my account was accessed fraudulently. It’s truly a disservice to the customer, and they should be ashamed. I cannot imagine when the people who thought of fraud protection envisioned this program they would have thought it would be impossible to have a truthful outcome. It’s very frustrating and disheartening. Another injustice, at the hands of incompetence, and inadequate services and programs. It’s should be simple, and yet they are telling you your word is not enough. How else to explain. Most people do not have a burden of proof on discrediting a false charge. It’s just stupid to have a protection, if it cannot actually cover fraud, and they, again, unlike other companies, are not offering a generous courtesy to apply this.

I had sent money to Marcus for over 10 years and had many CDs over the years. At the end of Dec. 2024 I got a call saying they were going to close all my accounts. At that time I had five CDs and a savings account for a grand total of almost half a million. The reason they gave for shutting my account down was that the money had come from a bank which was in my trust account. They never told me at the time I opened the account that they didn't accept money from trust accounts even though I asked them if I could put this account into my trust, that all my investments were in my trust. They did accept my money for 10+ years with no problem. So they shut down my five CDs and subtracted $8,877 for the early-withdrawal penalties. Long story short, one by one the penalties were given back to me and transferred to my bank, the last two exactly three months after first shutting down the account. Interest was added to the first three, and after the last two were transferred, interest for just one of them showed up in the Marcus account. Also, there was a big problem with my biggest account (over $200,000) because some of that money came from another bank at one time. That money was finally transferred in Feb. along with the penalty and interest. Between them calling me and me calling them, I spent at least 15 hours on the phone, much of that time on hold. Absolutely nothing they did made sense. Dragging it out for three months was incredibly frustrating and stressful, not to mention insane. And they brag about being the #1 online bank!!

I recently opened an 18 month CD at a rate of 4.5% with Marcus by Goldman Sachs. When I received the CD Certificate, the term was changed to 14 months.

I contacted Marcus by Goldman Sachs several times -- the representatives never addressed my concern and refused to correct the error. The error, in my opinion, was intentional.

In March of 2025, all of the websites which market CD's (i.e. Bank Rate, Nerd Wallet, Yahoo Finance, Market Watch) advertised Marcus by Goldman Sachs as the BEST CD available. I was scammed by both the bank and the banking advertisers.

Do not use them. There are so many other options for High yields. They locked me out of my account and I still cannot close it. They also gaslight you and make you think it's for your security that they lock away your money and do not let you access it. I have thankfully managed to withdraw almost all of it and I am now waiting to be able to close the account. they wont let me, they are really horrible to you on the phone too.

Scammers! will do everything to hold to your money and not return it.
Initiated withdrawal of funds 24 Feb, was confirmed and received messaged funds wired.
26 Feb received message saying contact us urgently. I did. Funds were frozen because of "security concerns"
Cleared those, was assured transfer initiated, account closed. 3 Apr no money. Checked in Marcus, money still there CD renewed against my express instructions. Allegedly money was frozen again due to more "security concerns". I answered the same questions as before, I am told money cleared and was put to another staffer who said I'll had to agree to an early withdrawal penalty, this for a CD I did not renew about money I was told 7 days earlier that it had been wired to my linked account. According to an email received earlier money was transferred and Marcus account was closed, but that was a lie. Totally Unreal.
Then I was told that I can request a waiver for the early withdrawal prnalty fees of the CD I never authorized, and that such request may work in my favor or not.
Necessary to mention, that 1 year ago they played a different trick on me and held to my money for an entire extra year. So this year I made triple sure I was not going to get duped again and here we are. 1h 30m and five people on the phone today and I they still have my money and I do not trust them one iota.
Essentially, like many said here, if you want your money back they will do their best to retain it, with every dirty trick on the book. Now I've been promised that in 3 days all it's gonna be fine and the money will be wired. They act like they are bankrupt and do not have the funds!
All in all Marcus is a con enterprise, that also after a quick online search today it turns to be a failed business. Avoid like the plague, specially if you count in getting your money back at a specific time and for a purpose that can't wait. Youll be absolutely screwed.

I was initially attracted to the high interest rate and how easy it was to set up the account.
Someone hacked my account, which is frustrating, but it happens. I spent about an hour on the phone, trying to clean things up. Again, frustrating, but understandable.

45 days later and over TWELVE hours on the phone, I still had no money returned. I spoke with a supervisor who told me they actually had an additional 45 days to look at my account. There was no one for me to talk to about it. There was no case number. They could not confirm if they had my paperwork. She said that “somebody” will call me, but she didn’t know from what department, how they would handle the process from there, or when they would even call me.
This was just one day of this entire experience. It almost became comical after I ran out of energy to be mad. I never called that I didn’t spend at least 40 minutes on the phone, get transferred three times and have to be validated again, and be asked to put on a “three minute hold” over and over and over again.
I just cannot over express how horrible the process was, how inconsistent the experience was, and how very very little they cared that they were holding my money.

AVOID THIS COMPANY!!! Their competitor AMEX approved my application the first time. The difference of interest is only $90 for the amount of money I was going to deposit.

Security failed my application for an online High-Yield Savings Account twice. The first time I filled out the application, I was asked to call for additional information. I called and authenticated all of my information, but security failed my application due to not having a US phone number that could receive a security code to verify myself. Therefore, 3 days later I purchased a US phone number that could receive SMS text messages from bank security systems and proceeded with a new application. Upon uploading my US Passport document and all of the same information from the 1st application, I was prompted to call them again, stating they needed additional information. I again called them and verified all of my personal information to the agent again. Again they transferred me to security. Security asked me again for all my personal information used on the application and my new phone number. They also asked me if I wanted to add a phone number to my application. I asked why, did they want to send me a verification code? They said yes. I asked why they couldn't send it to my new phone number. They said they needed another one. I advised them that I only had one phone number that could accept security verification code, and that is the number on my application, and that my other number was a VOIP number, and also the number I was calling them on, and which was on the application last time that failed. Therefore, I purchased a new number today just for this application. They failed my application and stated they couldn't tell me why. They also wouldn't send me a security code. I asked them what I needed to do to successfully pass security for this application or any new application for people that I recommend this account to. They told me everything I put on my application and still failed me. I asked to speak to a manager but they told me it was Saturday and no manager was working to talk with me. AVOID THIS HIGH YIELD SAVINGS ACCOUNT!!

All of my financial institutions already have my 2024 1099 INT form available online, ready for printing, or have already mailed them out. But not Marcus by Goldman Sachs. I understand that federal law gives financial institutions until Jan 31, but waiting until then is extremely poor customer service. You are the only financial institution holding up my early tax filing. Given all the major data breaches this year, early filing is paramount to get ahead of all the coming tax fraud. Get your act together, Marcus.

I opened 2 joint accounts 11/15/23. $28,000 12mo CD & $2000 on-line savings.
Received monthly statements by mail.

On September 27,2024 the account was closed by Marcus.
I received notice in the mail dated 9/28/2024.
No reason was mentioned for the closure or what was to be done with the funds.

I called the 855-730-7283 number stated on the notice weekly.
Each time, if the line was not disconnected, and after 4-5 transfers I was assured, the money would be in my possession within 3 business days.

It is November 5 and still no resolution.

This is the worst customer service ever.

Please let me know if there is any other place, I can voice this complaint.

Pamela Urban