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Marcus Review

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Michael Dinich
Michael Dinich
May. 03, 20214 min read

Marcus summary

Marcus, a new personal loan provider by Goldman Sachs, offers loans that are fee-free and can be tailored to suit each individual customer. Fast funding is also a crucial component of the Marcus strategy, and many Marcus customers receive funds in as little as 3 days.

Pros

  • No origination, processing, or prepayment fees
  • Many Marcus customers receive funds in as little as 3 days

Cons

  • High credit score required to be accepted
  • Late payment policy can mean higher interest rates

Marcus  Marcus View Rates

Overview  

Marcus is a new personal loan solution- backed by over 150 years of Goldman Sachs' financial experience. This recently-launched branch of the venerable investment bank is currently testing its new approach to personal lending and debt consolidation on a smaller audience, but anyone can now borrow without a special invitation. In a fresh spin on an old system, loans from Marcus are fee-free, and offer more flexibility thanks to unique loan features. Fast funding is also a crucial component of the Marcus strategy, and many Marcus customers receive funds in as little as 3 days. In order to offer its customers good loan options, only the most creditworthy applications qualify for the largest loan amounts and lowest rates.

Suitable For?

Marcus is recommended for borrowers with debt from several creditors, consolidating outstanding obligations under a single loan may be a good idea. Marcus makes it easy to put all these debts under one manageable banner. Others who simply need the cash to complete a home improvement project, buy an engagement ring, or handle a personal matter are also welcome. Generally, those with healthier credit have a better chance at obtaining a loan from Marcus. Marcus is flexible and lets you choose the length of your term, as well as the monthly payment you'd like. 

Loan Features  

Marcus does not place any restrictions on its loans, which can be used for debt consolidation, home improvements, and many other alternatives. You can personalize your repayment terms and monthly payments along with loan amounts. Marcus also does away with fees, instead offering fixed-rate loans with no hidden surcharges or additional costs. Customers can apply for loans directly online with no need for visits to a branch or calls to representatives. Additionally, Marcus rewards responsible repayments, allowing customers to miss one payment after 12 months of on-time payments without a penalty or extra charges. The company provides a range of repayment terms, and allows customers to pay out their loan early without penalty.

Highlights for Marcus:

  • Most creditworthy applications qualify for the largest loan amounts and lowest rates
  • Rapid funding - Many Marcus customers receive funds in as little as 3 days
  •  Adjustable range of loans, terms, and monthly payments
  •  Absolutely no fees
  •  Personal loans for debt consolidation and more
  •  Competitive interest rates
  •  Late payment feature lets customer earn the ability to defer payments
  •  Reasonable range of loan amounts
  •  Solid foundation in Goldman Sachs, a centuries old institution

The Application Process

The first step of the application process is to fill out a form that asks for basic details and financial information. Once completed, one of the more unique offerings makes its appearance: two sliders that let the applicant choose their term and monthly payment. After answering a few more questions on income and other demographic information, Marcus performs soft credit check on the applicant, which does not impact their score.

To be approved for a loan, Marcus asks that applicants meet the following requirements:

  • Be a citizen or legal permanent resident of the US
  • Be 18 years or older (must be 19 years old in AL, 21 years old in PR & MS)
  • A minimum FICO score of 660, though 700 is recommended
  • At least 36 months credit history

Additionally, applicants are recommended to have the following documents ready to expedite the approval process:

  • Recent bank statements
  • Proof of income such as pay stubs or tax returns
  • A driver’s license or similar photo ID
  • Proof of citizen/residence such as a passport

Loan Terms 

Unlike many of its competitors, Marcus is focused on providing customers a more versatile lending experience. When applying, customers are asked to provide a range of preferable loan terms and monthly payments. The company takes these selections into account during the approval and funding process, giving customers an approximation of their preferences. This sets it apart from many industry mainstays that give customers set terms without choices.

Thanks to its slightly higher approval requirements, Marcus can offer customers more favorable terms and loan amounts, along with the ability to set their own preferences. Customers can get fixed rates that range between 6.99%, which are well within the industry average. The company offers borrowers loans as low as $3,500, reaching as high as $40,000. What really sets the company apart, however, is its fee structure and benefits. The company does not charge any origination, prepayment, or even late fees. Customers who miss payments or cannot cover the full amount in a given month will simply have interest added to their final payment. However, customers who pay on time for 12 months can defer up to 3 payments for no extra interest, with the missed installments simply added to the end of the loan.

Repayment Terms

It takes anywhere from 36 months to 72 months, or between 3 and 6 years to pay off a Marcus personal loan, with unique intermediate terms on offer. Borrowers can get approved for as low as $3,500 or as much as $40,000, and can choose to pay their loan back on a schedule that is as relaxed, or as stringent, as they like. During repayment, there are absolutely no fees involved for any customer service process, and a unique feature of Marcus reveals itself after just a year. After 12 consecutive months of consecutive on-time payments, the borrower earns a credit that allows them to make a late monthly payment at any time in the future, without incurring additional interest charges. Customers may also configure their repayment date on any day of the month and can change it up to three times over the course of repayment. Marcus impressed us with their creativity in creating this incentive, and we can see customers appreciating the feature.

Privacy & Security 

Opting for a Marcus loan is one of the safest choices you can make. With nearly 150 years in the finance industry, a solid reputation, and consistent backing, you can be confident that you won’t have the issues you would with some other lenders - such as not getting paid, hidden fees, aggressive marketing techniques, or problematic practices. Everything that runs through Goldman Sachs is legitimate and provides quality, reliability, and integrity regardless of your financial standings.

Help & Support

During our exploration of Marcus and its services, we encountered a friendly and informed customer service team. While Marcus may be a new entry into an established market, the representatives we spoke with were experienced. Staff members responded to our inquiries via email and phone within a reasonable amount of time. We waited just a few minutes before speaking with a friendly support team employee, and for email we were returned to within a single business day. Additionally, the “Insights” section of the Marcus website holds a thorough FAQs list and a collection of frequently-updated articles on debt.

How Marcus Compares


Marcus OneMain Financial
APR
6.99%18.00% - 35.99%*
Minimum credit score
660none
Loan amounts
$3,500 - $40,000$1,500 - $20,000
Loan term
36-72 months24-60 months
Suitable for
Flexible loan termsBorrowing from a trusted lender

Marcus provides loans with APRs between 6.99% - 19.99% **, payable over 3-6 years, with no origination, processing, or prepayment fees, making it similar to SoFi. However, when comparing Marcus with SoFi, Marcus stands out by giving you the option to defer payment if you’ve paid on time for 12 months. 

FAQs

Does Marcus charge any fees?

Marcus does not charge any fees for originating a loan. The company doesn't charge late fees either, and if you miss a payment or can’t cover your entire payment in a given month, Marcus will simply add interest to your final payment. You can also defer up to 3 payments with no extra interest if you have made your payments on time for 12 months. Finally, if you decide to pay off your loan early, Marcus will not charge you a prepayment penalty. 

What are the credit score requirements?

The credit score requirements with Marcus are a bit higher than that of many competitors. You will need a minimum FICO score of 660, though 700 or higher is recommended if you want to ensure you can get a loan with better terms. When you’re applying for a loan with Marcus, the company will do a soft credit check, which has no impact on your credit score. It also provides customers with free tools for improving their credit and reducing debt. 

What can I use my loan for?

Marcus does not place any restrictions on what you use the loan for. You can use the extra cash flow for debt consolidation, home renovations, a family vacation, or really whatever your heart desires.

How long does the process take?

The application process on Marcus is easy and straightforward, and you never have to head down to your local bank branch. Many Marcus customers receive funds in as little as 3 days, according to Marcus.

Summary

For people who are looking for a personal loan, Goldman Sachs-backed Marcus provides a quick solution. The absence of fees and flexibility makes a Marcus loan worthwhile and effective. Borrowers can choose their monthly payment, term length, and use their good performance to make late payments at no extra cost. With low APR and long terms, Marcus is taking advantage of their access to inexpensive credit to give borrowers a better alternative than credit cards.

Physical Address

Marcus by Goldman Sachs

111 South Main Street

Salt Lake City, UT 84101

Marcus  Marcus View Rates

Disclaimers

*After making 12 or more consecutive monthly payments, you can defer one payment as long as you have made all your prior payments in full and on time. We will waive any interest incurred during the deferral, and extend your loan by one month (you will pay interest during this extra month). Your payments resume as usual after your deferral. Advance notice is required. See loan agreement for details.

*Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score. The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. You may be required to have some of your funds sent directly to creditors to pay off down certain types of outstanding unsecured debt. Rates will vary based on many factors, such as your creditworthiness (for example, credit score and credit history) and the length of your loan (for example, rates for 36 month loans are generally lower than rates for 72 month loans. Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and all loans are issued by Goldman Sachs Bank USA, Salt Lake City Branch. Applications are subject to additional terms and conditions.

Michael Dinich
Written byMichael Dinich

Michael has worked in personal finance since 1999. He shares unique insights on how to save money, increase income and prepare for retirement. Michael is a sought-after expert in the areas of taxation, personal finance, and health insurance planning. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

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  • author
    Ken Brady
    Dec 30, 2021
    Very happy with this Bank

    I have a savings account and ISA with Marcus both delivering good and competitive interest rates along with fast transaction times which often appears on my statement within minutes of posting a transaction. Along with excellent customer services I would highly recommend this bank always easy to speak to if needed. Very happy with this bank

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  • author
    Kelvin
    a day ago
    FAKE COMPANY !!!

    FAKE COMPANY !!!! I WAS SCAM OF MY MONEY I MAID FROM MY FATHER INHERITANCE RUN FROM THEM I WAS ONLY ABLE TO RECOVER MY FUNDS WITH. GLOBALRE COV ERY. LINK PLEASE RUN FROM THIS COMPANY THEY ARE SCAMMERS !!!!

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  • author
    Jorge Valvert
    Jan 11, 2022
    Account closed, funds retained

    Account closed without any valid reason, my funds were retained indefinitely. It was more than a month since Goldman Sachs (Marcus) closed my account and after several customer service absurd long calls, I was not able to get my funds back. Please don't put your money there.

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  • author
    Reinold Guzman
    Jan 06, 2022
    No Amortization Schedule? Hummm...

    - USA customer - They "don't have the capability" to provide an amortization schedule? that sounds super shady. I have taken loans before and all of that offer some kind of schedule to know how much you'll be paying every month towards your balance and how much towards your loan. That way you can see very transparently the current state of your loan and see in a glance how much you can save by paying off the loan early. The process of getting the loan is fairly smooth and the disbursement was super fast. But unfortunately won't be using them in the future because of the lack of transparency.

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  • author
    Charlotte
    Dec 29, 2021
    Great company - but no longer competitive easy-access savings account

    I've used Marcus for about 3 years now after I received an inheritance and researched Martin Lewis' advice about savings. It's been a pleasure tbh, all my family use Marcus now as well. The website is nice looking and easy to use. More recently I've started using the app too which makes it even easier using Face ID. The transferral of funds is always very speedy. I made a big transfer today for a house purchase and the money literally arrived in my bank account within minutes. What's particularly impressive about Marcus is their excellent standard of customer service. They honestly have the most professional, courteous and well-spoken people on the other side of the phone that we've ever had! As opposed to the miserable, mumbling, aggravating responses you usually get from customer call teams lol. I have to knock a star off because they are no longer competitive for easy access savings... which is the main reason I went with them in the first place 3 years ago. Will have to shop around again if they don't improve the interest rate soon, but I'll be sad to leave them because this is a great company.

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  • author
    customer
    Dec 16, 2021
    Great savings account

    Really easy to set up and manage your account. The app and websites are great, nice and straightforward, and easy to use. Interest rates aren't bad either!

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  • author
    Rob L
    Dec 07, 2021
    Total waste of time.

    We got my fiancé approved on Marcus Pay for a JetBlue flight but there's no way to actaully use Marcus Pay to purchase. The site won't ever connect back to JetBlue, it just keeps asking us to do another application when we choose Marcus Pay to pay for the flight. That's not the real problem. We then called two different Marcus customer service numbers, on one, the recording stated "no one can help at this time" and disconnected us. On the other it went into a busy signal and we hung up. We wasted an hour, what terrible customer service and overall bad experience.

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  • author
    Dan
    Nov 13, 2021
    Opening account was nice and straight…

    Opening account was nice and straight forward. All my money was spread across multiple savings accounts paying next to nothing in interest and I've been pretty lazy seeking out a better rate until now. Account was active within minutes with no issues. I've given 4 stars because although the account security means you can only withdraw to a single nominated current account, I'm not a fan of simply email and password for bank logins. Banks like Natwest and First Direct use a user ID and the random password character selection along with their apps for better security. In this day and age I think clients should have the option to use 2FA, perhaps using Duo app for better security to login.

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  • author
    Gavin Wood
    Nov 02, 2021
    Marcus by Goldman Sachs

    Excellent instant access savings account with competitive interest rate.

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  • author
    Christopher Chua
    Oct 30, 2021
    Don't have any problem with this bank

    Don't have any problem with this bank. Very straightforward layout with the app. It's truly a different experience compared to a lot of traditional banks, maybe because they specialise in savings products.

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  • author
    Richard
    Oct 17, 2021
    Excellent app and swift transfer of…

    Excellent app and swift transfer of funds. Ideal easy access option. A shame they don’t offer competitive one year bonds any more

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  • author
    Richard
    Oct 06, 2021
    Opened an Easy Access online account

    Opened an Easy Access online account Very easy to navigate and set up. Just an email verification with a password. Non of this “my voice if my password “ or “memorable place “ stuff. The phone app is also superbly simple. You may say lacking in some functionality but that suits me. Funds transferred from my designated account appeared instantly Initial impressions are very good indeed.

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  • author
    Ahmad Abdur Rehman
    Sep 24, 2021
    Takes too long for the funds to be available

    If someone transfers you funds from another bank, the funds will become available after 5 business days (haven't ever experienced this long funds holding time). So, in case you have an emergency, you'll not be able to use the funds. Disappointed and going to close my account.

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  • author
    Pilot
    Sep 21, 2021
    Top rating for this excellent bank

    I am extremely pleased with Marcus by Goldman Sachs, their service is second to none. Their staff are well trained, highly professional and display high product knowledge. The site is very well thought out and transfers are completed in record time. A pleasure to do buisiness with.

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  • author
    Xantilor
    Aug 31, 2021
    Right now Marcus gives one of the best…

    Right now Marcus gives one of the best easy access interest rates. The website is a model of clarity and very easy to use. When they emailed me about a bonus rate, three clicks and I'd got it.

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  • author
    Robert How
    Aug 27, 2021
    Great service

    Great service, simple to set up, easy to make transfers, even better now they have an app. Marcus had one of the best instant access savings accounts for quite while but no longer do - if they made their interest rate a little better they'd certainly beat other providers.

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  • author
    Lindsay
    Aug 20, 2021
    Nothing but praise for Marcus

    The Marcus online savings account I've had for a while has been excellent. It was extremely easy to set up online, has worked perfectly since and they even contacted me when they were increasing their interest rate to see if I wanted to take advantage of the higher rate. No other financial institutions have ever done that. Well done Marcus!!

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  • author
    Lindy Stickland
    Aug 17, 2021
    Excellent service

    Excellent service. The App is very efficient. I feel in safe hands. Was recommended to this company and glad I was. I feel in more financial control using this app.

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  • author
    Alexa
    Aug 13, 2021
    Tried applying for loan but wasn't…

    Tried applying for loan but wasn't given because they calimed I was unemployed at that time. If not for Mandixloan dot com whom someone recommended to me, I would probably have not been able to continue my business and would be broke. Under no circumstances will I advice anybody to use this site to get a loan.

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  • author
    Alison
    Aug 08, 2021
    No customer service

    My savings account was temporarily locked. Extremely frustrating that the only way to unlock it is to call them during office hours Monday to Friday. Not great when you are wanting access to your own money on a saturday morning. Surely for a big successful bank there must be another solution to this.

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  • author
    Paul
    Jul 27, 2021
    Very happy with Marcus Savings Account

    I've been with Marcus since their UK startup and have had no issues at all. Ok their website is at best minimalistic but their saving account rates are among the best.

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  • author
    Blueisthecolour
    Jul 09, 2021
    Inadequate Bereavement Processes

    Marcus' processes for managing bereavement are inadequate and their responses during a very long complaint process were unsatisfactory and inconsistent. I will be closing my own account with Marcus as I want nothing to do with this organisation. Under no circumstances do I want my next of kin to have to deal with Goldman Sachs.

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  • author
    sarah jackson
    Jul 08, 2021
    Ok so when I first opened an account…

    Ok so when I first opened an account their interest rates were much higher …they have dropped considerably . BUT they have just upped it a little , and are now the best rate for instant access account . They are just following the Bank of England rate . The thing that is good about Marcus is the customer service . It’s excellent . Their staff are really helpful and you aren’t kept on hold for ages pressing lots of buttons followed by the hash key . They answer pretty much straight away !!

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  • author
    A happy biker . . .
    Jul 03, 2021
    Voluntary offer from Marcus to increase our Savings Rates.

    We've just received emails advising us that we can increase our Saving's Interest Rate. This may be by only 0.1% but it's much better than ANY other Bank out there has offered . . . in fact they have offered NOTHING. We both like Marcus and will be looking to save more with them rather than the 'other' so called caring banks.

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  • author
    Stuart Milne
    Jun 30, 2021
    Totally inept don't know how they get…

    Totally inept don't know how they get away with controlled fraud basically?

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  • author
    Michael
    Jun 29, 2021
    Marcus is great.. I'm surprised to read negative reviews…

    I'm surprised to read negative reviews about Marcus. Obviously the interest rate has dropped..it has everywhere..but l have always found the Customer Service to be superb.. Efficient , courteous and very quick to answer the phone. The account is so easy to use..simple and clear..it's like an object lesson in how to do it. I love Marcus..really don't understand any negativity towards it.

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  • author
    DarrenM
    Jun 29, 2021
    Poor rates

    We had a marcus account but have now moved our money out. Rates are in Marcus are some of the lowest around currently . We found some much better deals.

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  • author
    DrewR
    Jun 28, 2021
    Not as good as they used to be

    I like Marcus and have been with them for a while. Ok interest rates are low but when other companies have better rates its time to move on. Marcus have several different accounts all the the same rate absolutely pointless. Also Still NO ANDROID app. Why do android users have to wait. Time to move on..

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  • author
    Mick Bennett
    Jun 07, 2021
    Bye Bye Marcus

    Awful customer service! All we wanted to do was change the linked account - previously not a problem - now hoop after hoop to jump through for less than half a percent interest. Bye Bye Marcus.

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  • author
    Kirsty Greenhow
    May 22, 2021
    Marcus by Goldman Sachs bank have been…

    Marcus by Goldman Sachs bank have been amazing. I have had an on going issue with another payment provider which resulted in my money being bounced back and "go missing" and the customer service at MGS have been nothing but helpful!! Really going out their way to help me retrieve this money which is not even their fault. Makes me feel a real sense of trust between them and my money. Great service!!

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  • author
    Mick, Newcastle England
    May 14, 2021
    No problems easy to use

    Been with Marcus for a year now, found the account was very easy to open. Opened Easy Access and a Fixed 1 year policy. Rates were good at the time, but the current climate reflects low interest. Found the web site easy to access, and very easy to navigate and layout is very simple to use. Easy to top up funds and withdrawn them when required. Follow up with TXT and e-mail for information. Never had to contact by phone, but no complaints

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  • author
    Mike Daniels
    Apr 12, 2021
    Marcus you used to be so good

    Marcus you used to be so good. In every respect. And although you still say I can deposit money through my linked account. That is inaccurate,out of date,total rubbish. You should be ashamed at your incompetence to keep your website up to date, I tried to deposit money by cheque. Refused. I spoke to Daniel at Worthing. Apparently I had entered the wrong bank titel Was I told? No just returned my cheque without explanation. Currently I get locked out if I try to deposit money from bank account although allegedly I appear to be following correct procedure. This is an offiicial complaint about Marcus and Goldman Sachs International Bany. Who are the parent company. Thoroughly appalled Angry and disappointed

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  • author
    Pauline
    Apr 06, 2021
    Awful...supposedly an online access…

    Awful...supposedly an online access bank with a rubbish website, really not to uk standards. Terrible customer service, poor communication and they don't even know how to manage an isa..don't touch with a barge pole

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  • author
    Mrs Angie Gregory
    Mar 18, 2021
    Customer service excellent

    Customer service excellent! Phone answered quickly and query dealt with efficiently. Shame the interest rate is dropping. Would have liked to keep using.

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  • author
    Leo Cossham
    Mar 04, 2021
    Straightforward and user friendly…

    Straightforward and user friendly website. Better rates than any other high street bank for savings accounts as far as I can tell. No queue times when calling them and friendly customer service.

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  • author
    Jesse Greif
    Feb 25, 2021
    It is important that you note that I am…

    It is important that you note that I am no longer with Goldman Sachs, but Marcus is a fantastic product regardless. Ease of transaction is a key attraction point for clients.

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  • author
    Connor
    Feb 03, 2021
    Brilliant customer service

    I wanted to say thank you for some really great customer service through a difficult recent issue. The level of support was really appreciated.

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  • author
    Jakub
    Feb 03, 2021
    Very happy about the service!

    So far, I am very satisfied about the service provided. Since I have opened my account in May '20 there was no issues with money transferring to or withdrawing from the account. The interest rate is good, comparing to the other providers' offers it is very competitive. The platform's clear and simple design is also very user friendly. 5 stars for Marcus, keep up the good work!

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  • author
    Roger Crudgington
    Jan 22, 2021
    Great Customer Servce

    I have recently phoned Marcus Bank regarding a request on my Bank Account Can I congratulate the customer service representative called Alberto He when out of his way to show me how to deal with my request , he was efficient , effective, polite and highly effective a great asset you your company The phone call was answered immediately Unlike most companies today who take ages to answer the phone ask you to enter many numbers and then tell you they can’t answer your query and to contact the chat line or send N email Congratulations to Marcus Bank for great customer service

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  • author
    Steve
    Jan 21, 2021
    Can't access their website outside the UK

    Since the 1 January 2021 I can't access their website or my account because I am outside the UK. Had no warning they were going to deny me access to their website and had no problems last year accessing their website even though I was outside the UK. Even using a VPN connected to the UK still can't access my savings account with them. Raised a complaint and their IT dept said there was nothing they could do. How unhelpful is that. Too bad for anybody who is abroad and wants access to their money.

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  • author
    Nina Thornhill
    Dec 30, 2020
    Super helpful service

    The Marcus savings account is very easy to use on-line and still offers a reasonable rate. They dropped the rate recently, but not as quickly as other banks have done. I had a problem with a lost payment (Marcus sent it to NS&I, NS&I could not track it). The Marcus phone services was superb. The call was answered immediately every time. The agent Jo emailed me detailed information about the transaction, and this information enabled NS&I to locate the lost payment. Very happy now!

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  • author
    Chris Marsden
    Dec 29, 2020
    Excellent service and fair returns

    Excellent service and fair returns. Very happy to continue banking with this company. Very Easy to use. Transfers back to my bank fairly quick. Depositing quick and easy.

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  • author
    Fran
    Dec 03, 2020
    No frills, well-functioning platform.

    Had to make a large transfer right before a house purchase - so the timing was crucial - and it could be done easily and quickly over the phone. Having struggled to do the same with my main bank (and having had to visit a branch to do so), the experience with Marcus was much swifter.

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  • author
    Wayne Hazen
    Dec 03, 2020
    My CD came due and I asked that the…

    My CD came due and I asked that the funds be deposited back into my external account. I thought it was done until I did not receive the funds. It took 57 minutes on the phone for them to finally fix it. Many years dealing with Marcus and I can assure you they have no clue in customer service. Terrible customer service

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  • author
    David Caton
    Dec 03, 2020
    Providing No Service to Bolster Profits

    Horrendous customer service. No electronic banking service, so paying off the loan requires a mail in check, so they they can suck you for another 7-10 business days of interest. My loan payoff check through escrow was cashed by them and 3 weeks later they were still charging interest and dinged my checking account for another payment. Then when you present the evidence, you can’t even email them a copy of the cashed check to add to your complaint file. Are you freaking kidding me?!?!

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  • author
    Dr Alan Moore
    Dec 02, 2020
    Pretty good

    Pretty good. The website is easy to use, maybe too easy, and perhaps not the most secure. Interest rate was originally good, but is now falling, but times are hard in the pandemic. I have no complaints, but I probably won't invest any more.

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  • author
    Gillian
    Nov 27, 2020
    Smooth, problem free banking

    I opened a Marcus savings account 14 months ago when their rates were very competitive. I move my money regularly, following the best rates. Although I’ve recently moved my savings out, due to a sharp decline in the percentage rate, I was entirely happy with Marcus for the duration I held my account with them. Transactions were quick and smooth and I never had cause to query anything. I would definitely return to them if their rates become competitive again. There is little point complaining about declining interest rates, that is down to the economy and not the fault of individual banks. The answer is to frequently check rates and move money. Currently, all rates are very poor. I haven’t awarded the full five stars due to Marcus’s current interest rate not being up with the best, but as far as service goes, five stars are deserved.

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  • author
    Stewart OBrien
    Nov 26, 2020
    Thanks I have had no problems with…

    Thanks I have had no problems with access but not sure with the constant interest revisions why this bank feels this is a good deal. Unless u have nothing better to do with your money suggest that paying into your mortgage is a better bet at the moment . I feel that the account has no frills and quite frankly can see the point of it overall my impression is that banks like this think ordinary people cant see the obvious

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  • author
    Sophia
    Nov 25, 2020
    Worst bank account I have ever had

    Worst bank account I have ever had - locked out of my account 3 times in 3 months with no explanation. Had to spend an hour on the phone each time to regain access. AVOID!

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  • author
    George
    Nov 09, 2020
    Good Quick customer service!

    Went to Marcus when they were the top paying instant access account . Have recently had to contact customer services . The call was answered quickly by a very pleasant lady who advised that systems were not updated immediately ,unfortunetly I cannot remember her name .This was my first telephone contact and it raised my opinion of the bank. The details were updated shortly just like she said .Played one won one.

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  • author
    Manuel Aranda
    Nov 10, 2020
    “Goldman Sachs, you are only as strong as your least effective team member! “ P.S- Brian, wants a different job!”

    True star rating: 0 zero Footnote for the reviewing audience: I will begin by saying, I mention Apple in this review quite a bit , as it was a collective effort in inconsistency and ineptitude of both companies. I purchased from Apple, A Mac, and only 2 months ago. Up until the point of applying for and receiving the Apple cc, furnished by Goldman Sachs, has been a very negative experience and a slap in the face as a loyal customer of Apple. This was a wake up call as to how little regard most of the a GS & Apple support specialists, have for their customers, Particularly it’s financial partner, Goldman Sachs, and their Customer service, with special emphasis on the upper levels of Financial Assistance, Brian, whom absolutely lacks even the most general skill set in terms of an appropriate treatment of his customers. No attempt to convey even the slightest bit of concern, that is to say, he had very little to none. I was taken back by his indifferent and rude disposition and more surprised by his inability to understand even the basics in terms of the ability to show a basic sense of courtesy, and even more shocking given his at his level position in the company. Unbelievable. Then, as if his insufferable position wasn’t bad enough, he ended the call by hanging up on me. I just sat back and thought one word to myself:, WOW. It is really sad. These reviews and feedback and others like it will be ignored at their detriment. Because eventually, all of us will need Customer Support, at some point, and if you do, and with either of these two companies, you will most likely will be disappointed. I only needed a little respect, but no, it was out of Brian’s reach to provide it. This, after I posed one simple question to the Apple Card & GS specialists who, because they were short considerably on account knowledge, eventually became frustrated and took those shortcomings out on me in their treatment of me. Apparently this ineptitude did not limit itself at the customer care level, but runs through to the sales department as well. My Apple Card was showing a new open balance on the cc account balance of $3557 and this inaccurate balance was reported to the CREDIT BUREAUS! This is outrageous, I never had a spending balance in that sum. I monitor my credit scores closely and when I received a drop in score of 40 - 50 points, all due to the sales dept at Apples inability to balance a customers account without negatively, adversely, subjecting, ones account to the credit bureaus, during their posting sessions. Unauthorized, postings to my account, credits and debits over a 3 week period that left my account with a hanging balance of nearly $3600. My accounts accurate total was only $141.50, 1st of 12 payments over 1 year totaling only $1699. Are they aware of what that sudden, reporting in that sum does to a credit score? I maintain a 1 % of spending total monthly, of my 7-8 credit cards, and this large sum appears negatively on my credit score. Their breach of services which very negatively reflected against my account, sent my Fico score descending 40 points or so! They have a big problem here, as I am in the middle of scouting a place to live. My score went from 732 to 691 that’s from very good to fair. They will correct this in a court or another way, BUT I NEED TO BE MADE WHOLE. These unwarranted numerous postings to my account have adversely effected me. Ultimately, this terrible oversight has destroyed what took me nearly 10 years to build, in terms of a good credit score. After some research, the FCRA ( The fair credit reporting act ) states, I can bring claims on them for a false reporting that caused damages to my credit score, effecting my ability to gain a better interest rate and nicer place to live. This is a serious matter, Sections: 604 (A)(3) 607 611 and 616 of the FCRA, some of the violations they breached. I was hoping not to go down this route but as all of my efforts to settle this issue were exhausted, seems I have no other choice. This negative experience made all the more stressful and worse by an ongoing string of inconsistent statements and ultimately their inability to effectively assist by a number of customer account specialists. Where ultimately, no one, including supervisors, managers and even Goldman Sachs financial executive level personnel, were unsuccessful to resolve my account issues. The only benefit about the card, is literally, it’s medal materials it’s made of, otherwise, it’s a terrible experience. This is my honest experience. Before this experience, I was a loyal customer of Apple products but their customer service specialists and that of Goldman Sachs customer services, have left a sour taste behind. I believe this will hurt the Apple brand, and their reputation.

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  • author
    Richie
    Oct 20, 2020
    Started off okay with decent interest…

    Started off okay with decent interest rates but the problems started when I got stuck outside the UK due to the Chinese flu. Kept getting locked out of my account and had to call customer services to get it unlocked. This might okay if you are in the UK but incurs high call charges from abroad. It appears that if you are outside of the UK you can not recieve an OTP. Now I thought being an online account meant you can manage it online from anywhere.But obviously not with this bank.I have no problem receiving an OTP from any other bank.

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  • author
    Stuart
    Oct 03, 2020
    Excellent

    I've had an online savings account (not currently available for new customers) with them for just over two years, and they've been excellent. Simple to use, quick withdrawals, and even though the rate keeps going down, it's still a lot better than anything I can see anywhere else.

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  • author
    Steve
    Sep 24, 2020
    In these recent times when interest…

    In these recent times when interest rates are quite frankly rubbish, Marcus has, up to now, maintained their rates for existing accounts at a reasonable level. I have not encountered problems moving money back and forth. Withdrawals are credited within 10 minutes and deposits within an hour or two, possibly quicker but I don't always check straight away. I have also found online access to be fast and the site easy to navigate.

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  • author
    K
    Apr 08, 2021
    No future withdrawal arrangement

    All seem to be well everything could be done online, except withdrawals can't be pre-arranged for future date How inconvenient! when such simple feature is missing

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  • author
    Neil Oldham
    Aug 23, 2020
    Could be better

    I had to call them to remove my landline number, seems daft when this is an online only savings accounts, and I updated my address online. When I did call them I got through to them quickly which was good. Moving money is no longer instant, when make a withdrawal after 9pm on a Friday night it won’t arrive until 9am the following Monday, this never used to happen. There’s also no app with the savings account so you have to login online which means remembering a username and password rather than signing using my finger print like I do with my other savings accounts that have apps. I’ve had this savings account for a few years now and I like how simple the online banking is. This account has met my savings needs.

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  • author
    Justin Maitland-Walker
    Aug 22, 2020
    Loving Marcus savings account

    Loving Marcus savings account. Would be nice if they add a app but using a internet browser on the phone is easy. Adding money/ withdrawing money does take a little time would be cool if this was quicker. I would like if I could have multiple savings accounts so that I could save for different things. I have recommended to many friends but its sad that your not allowing new accounts.

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  • author
    Lindy Stickland
    Aug 05, 2020
    Moving Savings during difficult times...

    I registered with Marcus a year or so ago, after seeing good reviews. I must say that their APP is brilliant - moving Money is so straight forward, and during these very difficult times transferring money in an emergency has been soo needed. Great company, great service - would recommend.

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  • author
    Roraio
    Aug 05, 2020
    Opened and closed a Marcus savings account within 5 minutes!

    I opened a Marcus fixed rate savings account last month within 5 minutes without any documents. Since the interest rates have dropped due to covid-19, I wanted to move my money elsewhere. I called Marcus and I was able to recover my money and close the account within 4 minutes! I received back my money and a confirmation email whilst I was still on the phone to their lovely customer service person! I was amazed at how quickly the matter was resolved! All money was back into my bank account in less than 10 minutes! They didn't even ask me why I wanted to close my account or try to persuade me to stay or sell their other products to me. Top service! I would use again!

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  • author
    Consumer Rights Act
    Jul 24, 2020
    The worst bank account I've ever had. AVOID!

    I have been using the Marcus account for over a year and I have completely lost my patience with this atrocious bank. Firstly - on several occasions my account gets locked for seemingly no reason. Perhaps somebody is trying to login using my details and it's locking them out. But as a consequence, it locks ME out too. I don't even get emails or notifications about this, I just have to discover this myself by attempting to login - only to be met with; "Your account is locked You'll need to call us on 0800 085 6789 to speak to someone who can help you. Our lines are open Monday to Friday, 8am to 8pm." This is an absolutely unacceptable way of dealing with logins. Why should I be punished for my account being locked due to unknown reasons? Why dont you email your own customers to tell them of this! SHODDY, LAZY CUSTOMER SERVICE. It's Friday evening. I urgently need access to my money. Yet Goldman Sachs, with their staggeringly lazy approach to customer service, only provide customer service monday to friday during office hours. So if you ever find yourself locked out of the account through no fault of your own, in desperate need of your money, then expect a middle finger from Goldman Sachs, who are happy to keep your money until they decide to open their customer service lines a few days later. The money in the account is MY money - I am legally entitled to access it. You are denying access to my money. Unacceptable! Other issues; Incredibly slow website. When I transfer money to the account it takes far too long for my balance to update. Why is it taking so long for the money to appear in my bank? I dont get this issue with any other banks or even paypal. Perhaps unsuprisingly, it takes even longer to withdraw money out of the account. In fact, it usually takes a few hours. Why? It's almost as though they have real life banking clerks counting my cash, coin by coin, before transferring it. Just give me access to my money! Again, most likely a cynical practice from a bank that clearly doesnt value its customers. Another issue well known to Goldman Sachs is that people want an app, rather than an old fashioned website. Goldman Sachs are well aware of this but too lazy to bother creating an app. Issue 4 - you can only transfer funds from a single account. So if you have multiple bank accounts, then you can't transfer £100 from one account and another £100 from a different account. You'll need to put all the money into a specific linked bank account, and then transfer all the money from the link account into the Marcus account. Again, its just needless hassle. Why impose this on your customers? No other banks place such limitations on their accounts! 5 - Not honouring promotional interest rates. I realised this recently that they didn't even apply the promotional first year interest rate. So add inducement fraud to the list of all their other transgressions. In summary - just don't open account with this reprehensible, incompetent company. I've got around 40k in there which I'll be withdrawing as soon as these jokers re-activate my access.

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  • author
    Patricia Owers
    Jul 24, 2020
    Excellent customer service

    I am extremely impressed by customer service agent Al and cannot praise him highly enough. He dealt with my query quickly and efficiently. He was knowledgeable and could not have been more helpful.

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  • author
    Dee
    Jul 20, 2020
    Disgraceful Payments Processing System! 3 Interest Rate Cuts In Under 3 Months ?!

    Their payments system (for incoming payments and withdrawals) especially on weekends, is very SLOPPY , UNRELIABLE and SHABBY with inconsistently late receipt times e.g. inbound or outbound transfers carried out Sat/Sun end up in my account late morning on Monday ! I have also experienced these delays outlined above, on weekdays as well ; sometimes up to a couple hours' delay or next business day - very UNRELIABLE and SUB-PAR from a so-called bank "by Goldman Sachs" Marcus sneakily try to cover themselves by including a caveat in their T&Cs, but surely a bank that is "by Goldman Sachs" can improve on their shabby and grossly unreliable payments received & withdrawals system ???? I mean this has been persisting from day one i.e. its since inception. No improvements whatsoever ! Especially when most banks that I bank with (and that's over 5 of them) usually receive and reflect payments & withdrawals within MINUTES, or in exceptional cases 2 hour (maximum) And - worst of all ....3 interest rate reductions in under 3 months ?? Shame on you, Marcus.

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  • author
    Emma
    Jul 10, 2020
    Been saving with Marcus for a good few…

    Been saving with Marcus for a good few months now and have to say it has been brilliant. No idea why there are negative reviews about logging in or interest dropping! If you are used to online banking then you'll have no issues - platform is so easy to use compared to some. Transfers from your linked account couldn't be easier and appear almost instantly (unlike some other accounts I have had in the past). Interest rates will drop (as they have done everywhere) but with Marcus, you're still doing okay compared to a lot of others. Sure, it is possible to lock away and accrue higher interest but as far as easy access is concerned it is good. If you're here and reading this I'm sure you're doing as I did - reading around and finding the best product for you, taking all into consideration (access, interest and penalties for withdrawals). Everyone's situation is different so what works for some may not be as attractive to others as none of us are in the same situation. Marcus is closed to new applications currently, but from my experiences so far I can say I am happy with the account and would recommend once they open to new applications again.

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  • author
    Emily H.
    Jul 08, 2020
    happy with account

    happy with account. easy set up, easy to withdrawal and put money in. Interest rates reduced since i put money in, but that's with current economy and with all banks. Still interest rates competitive enough

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  • author
    Cindy Selby
    Jul 05, 2020
    Easy set up excellent interest rates

    Set up online in about 20 minutes and account was up and running the very next day. Easy to put money in and take it out if I need to and interest is fantastic. Five stars from me

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  • author
    Mr J Long
    Jun 26, 2020
    Very happy so far

    Opened an account about two months ago and was very easy. Excellent website and transfers to my link account are superb. Absolutely happy so far. All interests rates are low so the 1.05% I'm getting is still amongst the very best.

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  • author
    edward reems
    Jun 18, 2020
    Irish & Catankerous

    They give u misleading info. I spent over 3hrs trying to change linked accoun after switch . They wont accept my new bank details. So i call, 1 lady tells me to upload proof, which i spend another hr on barclays dowloading apps etc . then another tells me , i didnt need to do a thing ? Then they deny everthing and blame customer . Arkward gets

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  • author
    Ben Walker
    Jun 12, 2020
    Online Savings Account

    I've been a customer for a little more than a year now and my experience of them is good. They are an excellent provider because everything is easy and works just as it should. Other online savings accounts providers should take a lesson from their website - its the best by far that I've seen.

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  • author
    stephen degnan
    Jun 11, 2020
    It does what is says on the tin.

    It does what is says on the tin. Reliable, competitive rates. Easy access to deposit and withdraw. Interest paid on time. FSCS covered. Will be my go to savings account whilst rates remain competitive.

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  • author
    Will
    Jun 07, 2020
    Online Savers Account

    Opened a Online Savers Account within minutes. The process is very simple and the information provided for the account is easy to read and straight to the point. The website is user friendly and transferring my money over was very easy. In regards to the 1 star reviews on interest rates. Please remember that it is a VARIABLE interest rate and has changed due to the current economic climate, so before applying please use common sense.

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  • author
    Nick Dasey
    Jun 06, 2020
    Had an account for 18 months and no…

    Had an account for 18 months and no problems. I agree that interest rates have gone down but so have most other accounts. Their rate is still better than Lloyds .01% for an easy access account.

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  • author
    Agnes Dunn
    Jun 03, 2020
    Just opened a joint online savings…

    Just opened a joint online savings account. It was so easy. I am impressed so far. I am very naïve about all things financial and was a bit wary as I always use the big well known UK banks. I am fed up though as they do not reward long term loyal customers.

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  • author
    Paul.
    May 15, 2020
    Bad ethics...

    Lived in the UK for over 50 years with same bank account asked for loads of documents proving who i was,then account opened transferred money 1 week later told were reducing your interest rate to 1% bad show...

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  • author
    Mr Russell Cox
    May 14, 2020
    A waste of time

    Went to open the account on Monday, it's Thursday now and the screen is still stating... Your application is being processed, please check back later We're just reviewing your information and will get back to you soon. I thought computers did these things nowadays, like going back 25 years. Given the negative reviews about dropping interest rates, I'll start looking elsewhere.

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  • author
    Mr Sandifer
    May 13, 2020
    Had the account 4 weeks and 2…

    Had the account 4 weeks and 2 reductions in interest rates

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  • author
    James M
    May 13, 2020
    Not what it appears!

    I invested the maximum allowed under the scheme, at an interest rate of 1.45%, only to have this significantly reduced each month! My investment with MG now only achieves 1.05%. A 0.4% drop in less than 6 months. In my opinion, this is a con and you’d be better off looking at Premium Bonds.

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  • author
    MR G WHITBY
    May 13, 2020
    A very good & easy to use account.

    I opened an easy access Marcus account with them in November 2019.It was very easy to open the account. The site is very user friendly, easy to login and each time you use the a/c you get a digit code to your phone & an email as well. I have just transferred another amount into my Marcus a/c from my nominated a/c and it appeared in my Marcus a/c within 5 minutes. Congratulations to both banks concerned. I do not understand the negative comments that appear in these reviews.

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  • author
    Matt
    May 13, 2020
    Low interest rates keep getting lower

    Every few weeks they drop the interest rate, now down to a pitiful 1.05%. It started at 1.5%! They are not competitive any more, don’t bother saving with Marcus.

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  • author
    Fred
    May 08, 2020
    Good Online Savings account

    I saw the account recommended on the MSE website and opened an online savings account. It was easy to open and the online account is intuitive and easy to use. I like the extra security of receiving both a text and an email each time I make a withdrawal. You can see payments made to the account straightaway (and not the next day like other banks) and withdrawals are instant. Let’s hope their competitive interest rates remain.

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  • author
    Northern Andy
    Apr 30, 2020
    OMG BE WARNED THEY LIKE TO KEEP HOLD OF…

    OMG BE WARNED THEY LIKE TO KEEP HOLD OF YOUR MONEY Every time you try to log in they lock your account ! Then you waste time ringing up to unlock it, so I finally just gave up and asked them to close it.. I was told if I close it I would be banned from applying or using any of their products or brands in the future , WOWSER how aggressive is this company ,I dont know how legal their statement is either, But to everyone reading this ,stick to well known UK BANKS not American aggressive illegal rubbish, we have closed all our accounts now with this absolute dribble , if they ban everyone it should be interesting to see how the stock market responds !!!!

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  • author
    Pat Sawyer
    Apr 29, 2020
    Absolutely useless bank

    Absolutely useless bank. I opened an instant access account on line 10 days ago. Sent all ID as requested. Heard nothing after 3 days so called them, they assured me I'd had been accepted and I would hear within next couple days. After hearing nothing and after 3 more calls, I still have heard nothing. Tried to Re apply, but system says can only have one account... What account!! Obviously been complete system hitch and nobody has the professional knowledge how to deal with problem. Terrible service.

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  • author
    Mr Thomas Kirby
    Apr 27, 2020
    Opening new account and putting money in My 5 star rating

    My 5 star rating is purely based on opening the account and transferring into the new account. ### So very, very, easy to do. ### Whole thing takes under 15 mins to start from a blank piece of paper to a balance in your new account. So people writing poor reviews regarding opening an account are either misreading the simple instructions or making poor errors on their input. You could not get a faster or easier way to do this elsewhere . Genuinely.

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  • author
    paul
    Apr 24, 2020
    Very easy to open the savings account

    Very easy to open the savings account, i was able to see the 3 transfers I made into my account within a couple of hours. The 1 transfer I made out of my account arrived in my linked account within minutes.

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  • author
    Razhan Rebuar
    Apr 20, 2020
    easy application process with support…

    easy application process with support available 24/7. Yes, interest has dropped, however they do have a fixed year saving account of 1.45% - where people could easily switch into.

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  • author
    Chris Key
    Apr 18, 2020
    Easy to set up

    Easy to set up, easy to transfer money, better interest rate than the others. What is not to like? Well done Marcus this is how banking should be, just need a phone app, coming soon hopefully.

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  • author
    Edward Noel
    Apr 14, 2020
    Ignore the bad reviews

    These reviews fall into two categories: 5* from people who understood the application process, and 1* from those who made mistakes or misunderstood the last change in the interest rate. It really was an incredibly simple process for me, and a quick call to their customer services was answered within seconds. The reason that applying for this account doesn't require any paperwork or credit checks is that it is a savings account only - it is not possible to borrow on it, hence no credit checks. Don't hesitate if you want an easy-access savings account paying a market-leading 1.3%. An app would be a bonus though!

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  • author
    M Lynch
    Apr 13, 2020
    The application process was incredibly…

    The application process was incredibly simple and my account was open in minutes. I linked my bank account and tested a transfer with no problem at all. So far so good - wish life was always this seamless.

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  • author
    Michael Murphy
    Apr 11, 2020
    Easiest account I have ever opened…

    Easiest account I have ever opened joint with my wife very straight forward read the instructions up and running in ten minutes great fixed rate considering the poor rates from all the other so called building society and banks.

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  • author
    Jon
    Apr 11, 2020
    Easy to use.

    Top marks for the account opening process anyway- so easy- why can't other financial institutions learn from this? It doesn't need to be unnecessarily complicated and laborious.

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  • author
    Carolina Echeveste
    Apr 10, 2020
    Everything is fine but no APP so far...

    Before I opened the account, I went to check if there was an app available and I downloaded it. After that, I went back to the website and opened the account thinking that I was going to be able to manage my money from the app, once I got my details, I went back to the app and I discovered that the app was available only for the US. Considering that this is an online account, I think that an app is really important... I don’t like having to go to a website every time. I expect Marcus to activate the APP in the UK as well ASAP.

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  • author
    Paul
    Apr 10, 2020
    Very impressed so far

    Very impressed so far! Easy to open a savings account and a far better rate of interest than my bank

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  • author
    Alexander Smotrov
    Apr 01, 2020
    Easy to set up account

    Easy to set up account and web interface. No nonsense and unnecessary requests for additional documents (Aldermore Bank is notorious about that, for example). Easy to link your current account to Marcus for transfers. An app would be desirable though.

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  • author
    Anne
    Apr 01, 2020
    Easy to set up, good interest rate compared to other banks

    I have just set up a joint account with my daughter with Marcus by Goldman Sachs. The process was easy. It was reassuring that they did a credit check on me which took one day. Adding my daughter as the second applicant was very straight forward. I had a few questions so I rang Customer Support and all my queries were answered immediately. Transferring money was quick and easy. Good account!

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  • author
    Heather
    Apr 01, 2020
    Chinese chicken farm investment

    There's are several articles to be found on the internet, including one from the Guardian saying that in 2008, Goldman Sachs invested $300million in 10 intensive Chinese chicken farms.

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  • author
    Robin Wiggins
    Mar 24, 2020
    Been with them over a year

    Been with them over a year. Never had a problem opening the account .Easy transferring money in & transferring money out , normally in my account in about 4hrs . As for people’s reviews being very negative obviously they do not read instructions probably for registration for an account, also their emails when interest rates change .

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  • author
    phillip
    Mar 19, 2020
    Very dodgy

    Very dodgy - blocked the account for one password error - hung on for nearly 10 mins - then said they couldn't sort it and someone would get back within 24 hours" - outrageous - they just sit on my money in the meantime - typical investment bank - the rate goes down after a year - i will be closing the account - not worth the hassle

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  • author
    Louise
    Mar 14, 2020
    Great account and interest rate

    I've seen at least two people below who have left negative reviews, believing Marcus to have dropped their interest rates to 0.05%. That is totally incorrect. I have this same account and they notified me that they are reducing the interest rates BY 0.05%. This means the base interest rate changed from 1.35% to 1.30%. They do not drop their interest rates to ridiculous amounts within months of opening the account. Plus, at the time of signing up, they were giving a bonus interest rate of 0.15% for a year, meaning this has been a great account. I've had no problems with them and customer service has always been very swift and polite on the couple of occasions I've needed to contact them.

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  • author
    Dave Alexander
    Mar 07, 2020
    Wading through treacle

    A new savings account. Welcome letter Sort code and account number received. Instructions on how to send money to and from a nominated bank account acknowledged. i sent money from my nominated bank account, it was returned. I then had a message from Marcus requesting I upload details of my bank account, a statement for example. My bank account recently opened I did not have a statement, I uploaded a letter of acceptance from my bank with my name and address included. I also uploaded proof of monies sent to Marcus then returned to my account. Three days past, I rang them to be told it can take up to five days to approve. Next day, in the post, I received another welcome letter of acceptance, again with my account details followed by an e mail to advise the information provide was not acceptable, a letter proving a switch from my old bank account to my new nominated account was now requested. At this point I decided not to proceed and closed the account.The customer service guy said I wouldn't be able to apply again. Ha ha ha. Some sense of humour! A week had gone by just trying to deposit money into a savings account As though any sane person would go through such a farcical rigmarole a second time. Whatever else would be needed I thought before I can simply deposit money into a savings account with an interest rate slightly less laughable than most at 1.3% variable. Maybe a DNA sample? I opened an account with Aldermore bank. Same information for my nominated bank account. They sent out a letter with a verification code to enter on line. Account up and running within 24 hours. Assuming Marcus Goldman Sachs are interested in attracting new customers they sure have a slow over bureaucratic system to drive them away.

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  • author
    Amanda Gill
    Mar 05, 2020
    Interest rate dropped to 5% with in 2 weeks

    I opened this account because of the interest rate offered and with in a week they had dropped it to 1% and then less than a week later it dropped to 0.5%, thankfully I have got no further than transfering in £10 and out £5 to test that the links were right before transfering a large sum, they can forget it Il have my remaining £5 back and go else where!

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  • author
    Will Davies
    Mar 03, 2020
    Beware of Faster Payments to your linked account

    Easy to open and easy website to use. However one withdrawal went missing. All withdrawals are sent to your linked account by Faster Payment only. I am told there is no other way to withdraw money. After numerous phone calls and finally starting the formal complaint procedure the money found its way to my account over a week after I made the withdrawal online. Faster Payments should take up to an hour or two, not a week. So watch out!

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