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Marcus Review

Reviews 273

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Marcus

Average

Reviews 273

Visit Site

Bestmoney Staff

Aug. 27, 2023

2 min read

Marcus Summary

Marcus is an online bank from Goldman Sachs, one of the biggest names in financial services. Marcus by Goldman Sachs specializes in 2 things: high-yield savings products and CDs, and personal loans. It doesn’t offer checking accounts or any day-to-day banking services such as debit cards or wire transfers.

Pros

High yields
Backed by Goldman Sachs
Do everything online

Cons

No checking accounts
No regular banking services

Marcus at a glance

9.6

Editorial score

Fees?

No fees at all

10.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication

10.0

Customer service

Early morning, evening and weekend service with multiple communication options and a dedicated fraud team

8.0

Online experience

Excellent user friendly site with transparency of rates and full online banking capabilities

10.0

Mobile experience

Excellent mobile app with all mobile banking features enabled, including digital check deposits

10.0

Marcus Visit Marcus

Advantages Over Regular Bank

Goldman Sachs created Marcus in order to provide Americans with a way of accessing banking services more simply and cheaply. With Marcus, you get access to savings accounts and personal loans straight from your desktop. By operating online, Marcus saves costs, passing on most of those savings to consumers in the form of better interest rates.

These are the main reasons to choose Marcus over a traditional bank:

Higher yields than most regular banks.
Open and manage your savings accounts and CDs from your computer, with no need to go into a physical branch.
Customer service by phone from real support staff.
None of those crazy rates and fees that physical banks tend to hide in the fine print.

Cutting-Edge Banking Services

As mentioned above, Marcus deals solely with personal loans and savings products (for now). It doesn’t offer any other types of banking products. If you’re planning to open a checking account with an online bank—look elsewhere.

Traditional Banking Services

Marcus makes it easy to open and manage your savings accounts. Account holders get 24/7 access to their balance online or over the phone. Separately, Marcus also offers personal loans of up to $40,000, with zero fees, APRs from 6.99% to 19.99%, and repayment terms from 36 to 72 months.

Marcus offers multiple ways of accessing and transferring money into your savings account, including:

Electronic funds transfer from your external bank account into your Marcus savings account.
Wire transfer from external account at any bank in the US and its territories into your Marcus account.
Automatic transfers from your linked accounts into your Marcus savings accounts. Select the frequency and timing for your deposits, and let Marcus and your external bank do all the rest.
Deposit by check.
Direct deposits from your payroll or Social Security benefits.

Interest Rates and Fees

Marcus by Goldman Sachs offers a choice of 1 savings account, 1 no-penalty certificate of deposit, and 12 high-yield certificates of deposit ranging from 6 months to 6 years. There are no maintenance fees for any of the accounts, although early withdrawal fees do apply for some of the accounts. The following table shows the annual percentage yield for selected certificates of deposit, along with minimum deposit requirements:

CD Term	Annual Percentage Yield	Minimum Deposit to Open
10 months	5.05%	$500

Customer Service

Marcus is different from other online banks in that it deals with savings accounts and personal loans only, with no checking accounts and no access to ATMs. To open a Marcus savings account or CD, it’s best to already have a checking account with an external bank in order to make deposits into your Marcus account.

Although it doesn’t offer day-to-day personal banking, Marcus does offer customer service to anyone looking to open an account or needing help with making a deposit. It only takes a few minutes to open an account online. Just click the “Open an Account” button on the Marcus website, enter your name, address, date of birth, and Social Security number, and link to your account at another bank to transfer funds. Alternatively, call Marcus customer service on the number below.

Phone: 855-730-7283, available Monday to Friday from 8am – 10pm ET, and Saturday to Sunday from 9am to 7pm ET.

HQ: Marcus by Goldman Sachs, 11850 South Election Road, Draper, Utah 84020

Mobile Apps

Marcus doesn’t have a mobile app. This isn’t such a big deal. Marcus only offers personal loans and savings accounts, and therefore there isn’t really any need for customers to access Marcus’s services with a mobile app. Of course, Marcus’s website is mobile-optimized and can be accessed from a web browser on your smartphone or tablet.

Security

It’s fair to say Marcus is very security conscious, with several security features in place to protect account holders. For full information, head to the Security Center section of the Marcus website.

Here’s how Marcus protects your security:

Encrypted network transports data between Marcus’s systems.
Customers are required to use multi-factor authentication to log in.
Deploys EV SSL, which combines regular SSL encryption with an Extended Validation, a stringent identity verification process performed by a third-party certificate authority.

Marcus Visit Marcus

Conclusion

You won’t find everyday online banking services at Marcus, but you will find some of the highest-yielding savings accounts and CDs on the internet. Goldman Sachs created Marcus to compete with traditional banks on savings accounts and personal loans. Judging by the APYs on its accounts, the Marcus by Goldman Sachs experiment has been a success. It’s rare to find a bank that can beat Marcus’ rate for a one-year CD, and those that do tend to require 4-figure minimum balances. With Marcus, you can set up your account in minutes, transfer the minimum balance of $500 from your regular bank account, and start earning high yields straight away.

Written by

Bestmoney Staff

Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.

Trustpilot reviews

See what some customers are saying about Marcus

Average

•

Reviews 273

Excellent

44%

Great

Average

Poor

Bad

38%

val fairhead

a month ago

Clear and simple

Such an simple website with clear layout and excellent clarity of communication. Setting up an ISA took about 10 minutes with none of the long-winded form-filling and posting off documents I've experienced with some other providers. Marcus sends out emails to inform customers of best rates and updating accounts is an easy process. Don't let bad reviews here put you off!

stilz consulting

10 days ago

Worst support ever!!! Run away from this company fast.

I’m going to cut to the chase. The customer support is the worst I’ve felt with in my 46 years. Everyone you speak to has a buffet answer to the same question. They will continue to transfer you without you knowing. When you make a request they mess it up only to find out days later. Then when you realize they have made such mistakes they tell you we will put it to an investigation to find out why this happened. They admit guilt but can’t problem solve or fishing correcting the mistake. They need to go to an investigation that takes 10 days. This truly the worst institution I’ve ever dealt with. We know big banks….. can be difficult but this particular bank is down right terrible. If I could give negative stats I would. Stay away they are really bad.

julie

a month ago

I have been with Marcus with…

I have been with Marcus with savings/ISA for a few years now, personally I find them very efficient and simple and there is always a pleasant customer person should help be needed.

tarquin

3 months ago

No electronic cash ISA transfer

Unlike most banks, you cannot transfer your cash ISA out electronically - you have to fill out and post a paper form. I omitted my national insurance number (doh!). They then refused to accept my confirmation NI number over the telephone (even though I had completed their security checks). They said that I would have to comjplete a whole new form and send it in again. Terrible customer service (although polite). Feels like the Hotel California - My money can check-out but it can never leave...

dawn grudziak

3 months ago

Excellent savings account

I opened this account almost 2 years ago and have to say the APP is so easy to use and Marcus are excellent and speedy at raising the interest rates on savings. Transfers and withdrawals really could not be any simpler and for someone who is not that tech savvy, I am very pleased with everything about this account.

julian mercik

3 months ago

Immediate access to easy access savings

I have an instant access savings account with Marcus. I find the website easy to use, the interest rates are fine and when withdrawing funds to my current account in another bank - the funds arrive...immediately! Thank you and well done, Marcus!

kson

4 months ago

Opened a High Yield Savings account and…

Opened a High Yield Savings account and was enrolled in their promotional offers including higher APY % and $100 sign-on bonus for maintaining an account balance of $10,000 for 90 days. Met the requirements and Marcus refused to credit my account with the $100 stating that I did not enroll properly, despite acknowledging my call in February ‘23 to ensure I had properly enrolled into the promo offers as described. Given my experience, I will be filing a complaint with the BBB. I recommend finding a better HYSA option than Marcus given their dishonesty.

mr john turner

4 months ago

Good interest rate

Good interest rate, regularly updated. Easy to use

4 months ago

Good rates and easy to set up / use the…

Good rates and easy to set up / use the app. I have an ISA with them and a savings account and I like both. But they’re a bit too paranoid about security that you’d think my account is top secret given the numbers of steps and days it takes to change any linked account. They have to modernise to be in the 21st century’s instant money movement.

peixin zhao

4 months ago

Lock account without prior notice

Lock account without prior notice and lying to customer!!! I filed some complaints on BBB. The bank replied and said on 08/10 they will close my account and transfer my money but didn't receive my call backs on Aug 8 and Aug 9 so they cannot proceed. However, this is not the truth. The bank is lying to customers. I did receive emails regarding calling back to the bank, and I called back. On Aug 8, someone claimed to be a supervisor refused to close my account and denied the fact that I have requested to change my address in my previous calls. However, on 06/21, I have requested to send AOI to my new address. I told her I reached an agreement with the bank to close my account on 08/04, and I even agreed to the verbal statements of closing account. But she still rejected the facts. 08/09, I called again, a Rachel in fraud department answered my call. Rachel refused to tell me anything regarding my account (including when will the AOI be sent out) and also rejected to look into my issue. I made zero progress in this call too. The bank is not resolving my issue as they said!!! I did call back but none of the people answered the phone proceeded to close my account, which is in the contrary to their replies on BBB. They are lying!!!! I've attached my records of calling the bank on 08/08 and 08/09.

martin rispin

4 months ago

Marcus by Goldman Sachs (in UK) online…

Marcus by Goldman Sachs (in UK) online savings account is superior to any mainstream high street bank both in it's efficiency and in the frequent updates to interest rates. On the odd occasion things go slightly wrong the telephone help desk is highly proficient. My only negative comments are that the website needs the facility to view inputted password and that it would be useful if the account could be linked to an additional UK bank account.

peixin zhao

4 months ago

Lock account and took months to unlock

My Marcus saving account was locked on 06/20/2023 when I tried to transfer money from Marcus to my Chase account under my name. I have a total of 13k in the saving account. It is not my responsibility to verify one of my financial institutions - when I link the Chase account to Marcus or when I transfer money in Marcus, they have verified my identity. Until 08/08, I wasted 10+ hours on phone but got 0 progress on unlocking account. They even agreed to transfer the funds out of account but then denied it several days later.

holly

4 months ago

DO NOT USE MARCUS CREDIT CARDS!

I would give them 0 stars if I could. I was planning on using their credit card while in Europe because they are one card that uses email along with SMS to confirm things - and SMS to a US phone doesn't work overseas! I called them and let them know where I was, and they flagged and locked my account anyway when I tried to use it to by train tickets. Left me high and dry with no card overseas. Totally useless. DO NOT USE!

eugene matvejev

4 months ago

from such big name you would expect all-rounded-product

from such a big name, you would expect some decent service in ISA. I had ISA with Marcus, it took me half a year or so to transfer out, for whatever reason, it wasn't good, at some point I had to call both banks and make them talk. on top of that, Marcus seems to make so much fuss about advertisement - and ISA even if you want to move to them they do not accept transfers in. if you have ISA with them, their ISAs are not 'flexible'. their ISA relatively good rate, but not market-leading they have an app, unlike other investment bank-backed products, so this is good. they process payments relatively quickly which is good as well. however, not being able to transfer ISA in, is very very strange. but they rate now behind .3-.5% of the market leader, I only hold there like 1 GBP or so, to keep it open, in the hope they will be back on the market with something very good,

franck b

4 months ago

Very bad customer experience : Don't recommend it !

I'm having VERY VERY BAD customer experience with Marcus by Goldman & Sachs. I'm very disappointed by Marcus. Moreover, their current saving Interest rate is 4.07% which is not the best for US Online Banks. 1 year ago, I moved my savings accounts to Marcus. Last week, I tried to pay my daughters' tuition fees and to link my Wise account (available on their system as instant link). Marcus refused to link Wise and put some restrictions on my account. I called them ; they asked me to disable my wise account from my interface in order to remove any restrictions. For linking, they requested some papers to be sent to their PO box. They did remove the external account but they DID NOT REMOVE the restrictions and are still blocking any use of my savings accounts. For info, I successfully linked my wise account with Bank of America. No problem like the ones I'm getting with Marcus ! For information, supervisor are not accessible. They are supposed to call you back within 1-3 business days but they don't. On July 19, I asked to be contacted by a supervisor. On July 24th, NO SUPERVISOR EVER CALLED ME ! Nobody called in fact. Now they're refusing to chat with me due to this restrictions, and ask me to call them every time. When I'm calling, they're very confuse? They are telling they do not support quickPay (common service used by Umass and MA Tax)... I am now thinking of closing my accounts with them ! There is no transcripts of the chats, no email confirmation of what they're saying. I suggest to anybody to record any call done to Marcus.

michelle brian

5 months ago

Idk why I’m seeing such poor reviews

Idk why I’m seeing such poor reviews of Marcus. I personally love Marcus because it has a very very high APY% for its savings account. I have many savings accounts and this is the one that always increases first. Definitely worth it if you want to use it as a savings account.

mike

5 months ago

marcus is the worst credit company

marcus is the worst credit company marcus is the worst credit company. stay away! do not engeage. they offer NO HELP or support. website poorly designed, cant reach a human (hide the chat button).

marjorie jack

5 months ago

My honest review of Marcus …

I have an easy access savings account with Marcus. I found the account easy to open, the interest rate is pretty decent. When I withdraw I receive the money into my bank account immediately. Would highly recommend.

john m

5 months ago

My experience is very good

My experience is very good. I've had an account for about 5 years and it's easy to use. Transfers go through smoothly, the interest rate for an easy access account is perfectly fair, and they answer the phone very quickly.

gordon

5 months ago

Treat your Marcus account like a CD or…

Treat your Marcus account like a CD or retirement acct. Do not treat this acct like an actual savings acct. If you need to transfer or wire money to external accts do so well in advance (greater than 1 week). Attempted to wire money into an escrow acct for a down payment for a home. Took 4 days and 10hrs on the phone with multiple representatives who all had different courses of actions I should take.

sara strangl

5 months ago

Worse than horrific, stressful, nightmare

They locked my entire account and resfuse to unlock it, without a reason. As simple as that. All my money is in that account, what is this nonsense?

philisyourman

5 months ago

Decent rate for instant access

Very decent interest rate, but not the best. Easy to use app and true instant access. Very helpful customer support staff, but unavailable at weekends. Still pretty happy though.

dywttmu

6 months ago

RATES RISE QUICKLY

RATES RISE QUICKLY. NO PROBLEMS . U.K BANKS SHOULD LEARN FROM THIS...

julia rossman

5 months ago

Savings Account Locked.

Savings Account Locked. My savings account has been locked for 2 weeks. Customer service gives me a 3+ business day call back time each time I call. I was not notified of the lock and was never given a reason for it. The account has been locked for 15 days today and I submitted a notarized affidavit 7 days ago. Edit: My account was unlocked 20 days after the lock. No illegitimate activity occurred on my account; the reason for the lock was a transfer I made to an outside bank account that I had made two times prior. Unacceptable.

lynne sweeney

6 months ago

Christalla went above the call of duty…

Christalla went above the call of duty and could not have done it on my own as I was diagnosed with a Brain Tumor . Christalla was patient , understanding and nothing was too much trouble.

david

6 months ago

They claim to use faster payments more like slower payments

They say they do faster payments but where as other faster payments go into your account immediately Marcus seems to occasionally take a very long time and I have been waiting over 40 mins on this occasion for something that should be instant especially as it is a working day around 2pm. Therefore it is not faster payments so I will take my money elsewhere.

hugh g rection

6 months ago

love marcus

Fricken love marcus, clapped a hostage

emily h.

7 months ago

I’ve really liked having my money in my…

I’ve really liked having my money in my Marcus account. It’s safe and easy to use. My only negative is the rates have been a little inferior to alternative savings accounts BUT the experience is great.

ricky ricardo

7 months ago

The website and app looks nice

The website and app looks nice, but one would think with their name, it would over a better Interest Rate and APY than it does compared to other banks. For instance, Newtek Bank, Primis Bank and even Lending Club offers a much better interest rate than Macrus by Goldman Sachs does. With such a trusted name, gives so little to the people who save money with them .

elizabeth

7 months ago

The app doesn't work

Unable to access account via app or computer. Have had to resort to telephone calls to complete transactions recently. Not good enough.

ian thomson

7 months ago

Total rogue entity. They should be closed down NOW!

I wasted time phoning and getting the run around trying to close my accounts so I enrolled the help of Consumer Financial Protection Bureau. They were fantastic and Marcus assured everyone that my accounts would be closed and monies refunded. My bank cannot clear the checks as “the clearing bank as the clearing bank states there is a “MISMATCH ROUTING NUMBER”!!, Yet another ploy by Marcus by Goldman Sachs to hold my money. Disgraceful!!!!

greg marlowe

8 months ago

Without doubt consistently and over…

Without doubt consistently and over many years running THE worst customer service ever experienced from a bank. And here I'll not expend the time to recount several other of this bank's administrative deficiencies. Rather at this particular juncture I'll reference only the most recent example of a client REPEATEDLY unable to have Marcus Bank fulfill even a very simple task, including having first written to an address in Utah, followed by having twice during phone calls having received assurances of prompt forthcoming action which also NEVER eventuated. The documented record as as follows. One, in a letter dated 1-19-23 I asked that I be sent written confirmation of the identified change of beneficiary status for my accounts. Nary a reply. Two, I phoned on 2-21-23 and again requested such a letter, and in turn was told the solicitation would be fulfilled. Never happened. Third, again by phone on 3-14-23 representative declared the needed missive would be posted immediately. Also has never transpired. Gee, is it any wonder that the entire Marcus operation--meaning not just the bank portion, but its collective divisions last year lost well more than$1 BILLION?

elle b

8 months ago

Surprised about other reviews

I am really surprised about the other reviews. I've been saving with Marcus for about 4 years - in that time I have grown the amount substantially (transferring each month), then taken a large portion out to pay for the house deposit, which required me to call them to instruct the transaction, it all went very smoothly. I then had to ask them to provide letters for proof as requested by the solicitors for the house purchase etc - all done without any issues at all. I have always been very happy. Any transfers I make back to my main account are pretty instantaneous too. All in all, one very happy customer. Except that their interest rates are now not the top of the game!

geraldine

8 months ago

Online service is screwed up

Tried to open a CD online as their rates are the best. They said they sent me a 6 digit code to continue. No code came despite 4 requests. (Not in spam, not anywhere. )They told me to wait 30mins. I waited over two hours but no code came. It said my account was locked. I called back five times. Each time got confusing and confused 'specialist'. I gave up at that point and went to another place for the CD.

dmg

8 months ago

It’s as bad as the other reviews say

As per other reviews on here. Too difficult to get your money out. ISA transfer process is manual/by post/by cheque. Obviously, it’s deliberate that they haven’t moved to electronic transfer and payment. They clearly have little care and protection for the customer. Too slow to raise rates with base rate increase and you have to manually opt into the bonus. Used to be able to transfer larger sums of money in a day, but they go rid of that feature too. There are better companies with better rates who are easier to do business with. Go elsewhere because when you realise you are not getting a good deal, it’s too hard to get your money out.

neil

8 months ago

Marcus does not allow electronic transfer out of your ISA to another ISA provider

In the 21st century, it is incredible how many banks do not allow electronic transfer of ISAs from one bank to another! Marcus is one such bank. They are very happy to accept your funds electronically when you open an ISA. This means that the entire application process is completed online electronically without having to complete a paper based form and having to post it. Once your ISA is open and you wish to move your ISA to another provider, as you complete the online application for your new provider, you will asked to provide the details of your current ISA provider and the account details. At this point you find out that Marcus is not on the list. When you contact them, they inform you that they are not part of the scheme that allows electronic transfer of ISAs. This means that you have to complete a paper form from your new provider and take it to their local branch or put it in the post. This process is a long drawn out process whereby the new provider posts your completed form to Marcus. Marcus then issues a cheque with your ISA funds and sends it by post to your new provider. Imagine all the data protection and security issues associated with such an unnecessarily lengthy process and the amount of time it takes to do an ISA transfer. I raised a complaint with Marcus to ask why they do not mention when I apply for an ISA that they will not allow it to be transferred electronically when I wish to move to a new provide. Apparently this information is there somewhere in its FAQs. I asked if they would place that information somewhere where it is easily visible at the time of application. I was told that they would only do it if they had enough complaints about it! In short, they cannot be asked to do anything about it. It is not a long stretch to imagine that such a poor process is deliberately designed to hold on to your funds for as long as possible! In summary don't waste your time opening an ISA with Marcus if you want to be able to transfer your ISA to a new provider quickly and easily!

mick h

8 months ago

Holding funds after Death...

A family member died in December and as executor of the will I needed access to the funds to cover various costs. Marcus will not allow funds to be released if over 20k without a probate certificate......which takes 3-6 months so useless having the funds with them. All other banks were happy with death certificate and copy of will in order to release funds. Appalling service from Marcus plus to top it all it takes 18 minutes plus for someone to answer the phone. I'll be avoiding them in future.

henry

8 months ago

I thought it was brilliant until I was…

I thought it was brilliant until I was abroad, not only can I not access my account I can’t even access anything to do with their website. I am abroad for about 3 months, please can someone contact me and tell me how I can access my account 😡

anonymous

8 months ago

Don't let the high interest lure you.

They make it so easy to deposit, but place a lot of obstacles for you to gain access to your own money. Since the online platform is limited, you reach out to speak to a rep. Very frustrating so when you call, they tell you need to refer to a "back office" person. Takes a great amount of your time, only to end the call with your issue unresolved.

jon b

8 months ago

Simple

Simple, easy to use App. A little frustrating that the bonus rate needs to be applied for - why isn't this simply included in the rate so nobody misses out?

shaun clarke

9 months ago

Fantastic Telephone Support

Had to call to get account details, not only was the guidance clear on your app as to what I can do but Roger on your phone lines clearly and concisely went through the step by step process. Fantastic service

david nicholson

9 months ago

Don't bother trying to withdraw at the weekend

No problem putting money in but god help anyone trying to withdraw over the weekend. It all looks fine however doesn't appear in your linked account until the next working day. Waste of time and my money will be moved out next week.

adam

9 months ago

Very disappointing indeed

Used to be good, and I happily kept my money there for many years. However, the interest rate is currently a woeful 2.4%, where my bank offers 3.5%! So, Marcus, you snooze you lose, I moved all my money out and won't use you again until you pull your finger out and offer something half decent.

alice garcia

9 months ago

Can't get your money out once you put it in there

I had opened a money market savings account well over a year ago and never had any trouble putting money in. This week, I had to make two transfers out in order to pay my taxes and they locked my account. After sitting on hold for well over 30 minutes on two separate occasions, I am still unable to get MY $80,000 out of MY account.

tim

9 months ago

US citizen with account opened in US

US citizen with account opened in US. Travel all the time. Can't login to accounts while overseas. Just stupid

debbie c

9 months ago

Terrible company

Terrible company! So easy to deposit but almost impossible to transfer out to a land bank. I’ve read this in many reviews now that I’m having trouble. Customer Service rep can’t help. Only back office knows what they are doing and no communication with them. Every time I call - someone will get back with me in 1 to 3 business days. We are going on 7 days and my online log in shows my accounts closed but they haven’t wired the money and no one will return my call. This bank is a scam of a company.

peter carlson

9 months ago

Good rates but lousy service

I've had a Marcus account for about a year, and I've had to contact customer service on a few occasions. Most recently it was due to an error message while in the middle of an online transfer - this is a common problem. It's always the same story: indifferent (bordering on hostile) customer service reps who don't even bother to listen to me as I explain my issue. They talk over me, the phone connections are so bad I often wonder if they can even hear me, and in general, treat me as if I am an annoyance they are only too eager to be rid of. They have never resolved an issue for me, and I always end up waiting a few days and then checking both my Marcus account and my bank account to see if I have to initiate the transfer again. I understand that for people who probably deal in millions of dollars' worth of transactions every day, my measly $10 or $20K transfers are insignificant, but they are very big deal to me, and when I get an error message in the middle of a transfer, I'd like to know what happened to my money. My issues have been minor thus far - mostly technical support issues - but it really makes me wonder what would happen if I had a serious issue. I gave them 2 stars because they do have good rates, and when things go well I have no complaints.

andy m

10 months ago

Been pretty happy with Marcus

Been pretty happy with Marcus. My only criticism is that you have to opt in for the bonus rate on savings. Otherwise it does what I need it to do.

nicholas yearsley

10 months ago

Re the bonus interest rate on savings

Re the bonus interest rate on savings. I've lost a lot money because I didn't opt in earlier. Why the need to opt into a bonus rate, the company should just raise the underlying rate... and then if necessary reduce it back down in the future. It's sharp practice. Yes, you send emails but many people do not pay too much attention to them once their money is in the account. You rely on this to save money! People expect to be getting the best rate possible without the need to opt in to anything. Why the need to do this!! Really annoyed.

cheryl hynds

10 months ago

I wanted to change my surname following…

I wanted to change my surname following my marriage. I uploaded the required documents and the name change was effectuated the same day. Other Companies were far more difficult to deal with. Why can’t other companies be so helpful?

wa girl

10 months ago

Marcus Does Not Release Funds

Marcus took long unreasonable holds on money I brought in. I was unable to purchase T-Bills from the treasury. They kept reverifying the sources of funds. They were transfer ACHs from my own accounts. Then the holds came off Feb 3, 2023. However, they still did not send the funds to another of my own institutions for purchases of a 6 month CD at 5%. I was told ready to go subject to verification of my receiving institution. While they had me on hold they disconnected. Then I called back and went through more verifications. Finally, they tried callling and other EST institution closed. Told to try back Monday morning. No call from them, so I called back. They said I was verified. Late in afternoon an Emett from fraud called stating "only way they are releasing my funds is if returned to originating institutions. Yes, that is from 3 or so. They also kept asking about returning to an institution, I had cancelled the incoming transfer to do to Marcus's unreasonable delays. I checked my account and it said cancelled outgoing wire. This series of events occurred Jan 24 - Feb 7 2023.

stja

10 months ago

Bad customer service

Bad customer service. Inconvenient and cumbersome process to close account. Gets funds stuck for too long.

paul

10 months ago

Used for years with no problems...

Bit surprised to see so many negative reviews here. I’ve had a Marcus savings account for a few years now. I joined when it offered the leading rate but recently it’s rates lag behind it’s peers and the BOE rate. I’ve never needed to access Customer Support so my experience is purely regarding transferring money in or out which is usually completed faster than I can log on to the other site. My only criticism is the rates are so far behind the BOE base rate but that’s true of all Banks so I won’t dock them a star for that….

mdm

10 months ago

Limited tech support, Customer Service not available

I tried accessing my account but my login details did not work. Requested to have my password reset (still had attempts available). Received the passcode to proceed with the reset and instead of being directed to reset the password my screen showed my account got locked and i need to contact their customer service by phone. Worse thing is that Customer Service is only available Monday-Friday 8-8pm. "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." I got locked out at 8.30pm. Now I have to wait until the morning, call and speak to their customer service in order to unlock the account. Ridiculous tech enablement from an American Bank. It's all branding, will close this and move my savings to another bank that has better account management online services and more accessible customer service.

hazel timpe

10 months ago

Furious

Furious. Locked out of my account. No UK phone number to call. Terrible service.

toni g.

a year ago

Funds locked up for months

They locked savings account twice after instigating an outgoing transfer. A notarized "identity affidavit" was submitted per their request and 6 weeks later, account is still locked. All subsequent calls end with "call back again" for one reason or another. Their customer service consists of people with no authority to help. Infuriating!

marzanna

a year ago

Waiting for my money

It's not instant access - despite what they say, it sometimes takes several hours/days for them to send your money. You can't contact them at weekends to sort it out. These days, instant access should mean payment immediately. Other banks manage it.

ian thomson

a year ago

A TOTAL SCAM!!!! A CLASS ACTION LAWSUIT IS REQUIRED.

I opened On Line Savings & a 9 Month CD accounts….No problem BUT trying to have these closed and my money returned???!!!!! Forget it or so Marcus by Goldman Sachs hopes I will. On the phone for at least 80 minutes each call and I’m making them daily. The record is 102 minutes and got nowhere. The 1st level is of no use but they repeat the same script…..”I’m speaking to a specialist on your behalf.” Then…..”Call back in 3-4 days when the specialist has reviewed your account.” Ask to speak with the next level, you get the same response. And no chance of speaking with anyone involved with your accounts. I notice Marcus by Goldman Sachs also opened 2 accounts in my name without my approval! They have now BLOCKED my accounts and I’m led to believe dumped them into the UNCLAIMED ACCOUNTS SECTION!!!! TOTALLY DISGRACEFUL. I’m in contact with the CONSUMER PROTECTION BUREAU with regards to my Marcus by Goldman Sachs accounts and I urge every dissatisfied Marcus by Goldman Sachs client to do the same and/or is there an attorney wanting to start a CLASS ACTION LAW SUIT??? Bank robbers used to work outside the banks but now work for Marcus by Goldman Sachs! I stand by my true statements above and can confirm all by recorded and written facts.

elrow

a year ago

I can see some pretty bad reviews here…

I can see some pretty bad reviews here but my own experiences have been good. Have had their instant access saver for a few years now. The app is a bit slow but never had a problem transferring funds in or out. Only thing is on a weekend transfers take over a day to appear at the other end . When my phone was stolen the Customer Service team was very helpful in assisting me to reset my log in etc. I would def recommend if you want a straight forward account for savings but do near in mind at a weekend your funds aren’t instantly accessible

will

a year ago

Locked me out of my account and won't help me unlock

I recently signed up for an account with Marcus and they locked me out. I called their customer service and they are completely useless and put me on hold for a combined 1 hour in total. They have my money held hostage and won't unlock my account. I am taking legal action and filing a criminal complaint. I have given them all of my personal identification verification information and they still won't unlock my account. Despicable company.

christian lehmann

a year ago

They remember the scandal of Goldman &…

They remember the scandal of Goldman & Sachs. Fraudulent bank managed by East of Europe. It is a nightmare the app and the service!

marzanna

a year ago

Still waiting for withdrawal

Tried to withdraw money from my Marcus account to my bank account. One day later I'm still waiting for my money. No explanation as to reason for delay (e.g. is it a fraud check?). Money is meant to arrive immediately or within 1-2 hours. Not possible to contact Marcus outside of week days. I need my money now (it's my money they're holding on to!). There seems to be nothing I can do but wait.

customer

a year ago

No Customer Service

They give a pretty good rate of return, but their customer service is virtually non-existent. I asked to speak to someone about a problem with the online history of my account, and their robot said someone would call me, but that was the end of it. You can interact with their website, or talk to a robot. That's it.

paralegal shawn flaherty's off

a year ago

Marcus should be sanctioned. Avoid opening a CD if you ever want to get your money out!

I am the Court appointed guardian for my mother, who has a CD with Marcus with most of her life savings in it. When I attempted to close it in order to pay her nursing home bills, Marcus repeatedly gave me PO Box numbers in PA to send certified copies of the same documents over and over again. Each time, even if USPS tracking numbers, the documents were lost in the mail rooms of Marcus. When you call, you can spend literally hours (2-4) getting the run around and being told to call back. You then start the whole process again, and get canned responses from the reps who claim they have no way to communicate with the legal department and everything takes 7-10 days. I was even told that maybe I should retain an attorney to assist with the process. They have no interest in honoring a request to close a CD, even if your loved one is being threatened with eviction from the nursing home. I have been trying since May to close a CD! This is insane, and they should not be allowed to get away with this!

tallyman

a year ago

Very slow

I've tried to transfer a couple of ISAs from Marcus. It's a painfully long experience.

john.

a year ago

No problems with savings accounts thus…

No problems with savings accounts thus far, but not as good at raising interest rates as once was.

brynn barge

a year ago

Beware unfair penalties!

After investing a large sum in a CD for five years, I proceeded to cash out. I started the process of wiring the money into my personal credit union with plenty of time before the CD matured. A telephone operator incorrectly inputted my credit union account number for the trial deposit causing a delay in closing the CD. The CD automatically renewed which cost me $1200 in early withdrawal penalties. I requested that my case by reviewed by upper management to get a reimbursement for the penalty which was not my fault. The recorded phone calls can easily prove the case in my favor, however my case was denied and I got stuck with the penalty. It's just wrong, and a classic case of the big corporation taking advantage of the little guy.

rick gardner

a year ago

Their customer service is horrible

Their customer service is horrible, and you cannot rely on statements made by customer service. I have been promised they would fix errors or waive feed charged in error only to be lied to.

austin quinn

a year ago

Low interest rate

Out of all my bank accounts, Marcus is now paying the lowest rate @ 1.99% (easy access saver) and this includes their so called “bonus”. 0.25%, BIG DEAL! It used to be my best account for interest. Perhaps that was the intention - to sign customers up and not keep up with the market rate. Typical, greedy American banking institution in my opinion. Withdraw your cash and get yourself a better deal is my advice.

c kough

a year ago

We have a GM credit card from Capital…

We have a GM credit card from Capital One that was bought out by Goldman Sachs. A couple of months later we headed to San Diego by car. Our card was declined more than accepted on the trip. We called and it made no difference. If we were ever late with a payment I would understand but WTH!!! Anyhow it continued when we got home so we concluded they don't want anyone who pays their bill each month. I wouldn't recommend Goldman Sachs to pick up dog crap from my yard.

alexander n

a year ago

Beware! You won't get your money back and loose hours of your time dealing with customer support..

I closed my online savings account with a substantial amount of $ with Marcus more than 3 weeks ago and I still have not received my money back, the funds remain with them. Since then I had almost 10 phone calls (no ticketing or email system) with customer support and they still have not sorted this out, they are unable to give an explanation. I have been on the phone for hours now. This is unacceptable for a financial institution which claims to be affiliated to Goldman Sachs. I wonder if they do not have the funds any more? This makes me believe that they are yet again in trouble and soon to be bailed out.

mrs harding

a year ago

Problems transferring my ISA out of Marcus!

I am transferring my ISA (x2) to another provider as their rates are so low! This bank is not on the electronic transfer list (BE WARNED) so the new ISA company had to WRITE (DELAY!) to them on the 29/9/22 to ask them to transfer in the money.. I have called them 3 times and each time Marcus have said they have NOT received any transfer letter from either accounts.. I spoke again to the new provider who have said for the 3rd time that it HAS been sent. Marcus said they may have sent it to the wrong address (they didn't as I checked!). Their 15 days are up on the 19/10/10 ... If by then my ISA has NOT been transferred I will be contacting the Financial Ombudsmen so they can look into what went wrong! This is such a simple operation, but is seems that it is not being carried out! Shame on you Marcus you should not be causing anxiety to your customers! Hours on the phone I will not get back !!! It is now 27/10/22 - another hold for 50 minutes... my husband sent the letter in nothing to say they had received the letter!

a year ago

Very positive experience

I have always had a wonderful experience with them. The customer care is great. I feel safer with them than with any other bank. I love MARCUS!!

nigel pridham

a year ago

Missing interest

On the evening of the 3rd of the month interest has not been added to my account.In this technical age I think this is slack or perhaps worrying?

mike mercieca

a year ago

Treat customers with contempt!

Awful customer service, they do not listen to customer concerns and simply 'cut and paste' textbook responses! I am a retired IT professional and despite my telling them that my browser is set up to automatically clear cache and cookies on exit and that the browser remained active throughout the session experiencing error messages from their system and not being able to make any transactions, their response is the standard pass the buck back to the customer saying "cookie or browser related" - utter tosh, they simply will not own up to something unscheduled at their end! They insult the intelligence of their customers and show the contempt they have for their customers!

smokey bean

a year ago

Very crafty company two months in a row…

Very crafty company two months in a row increases the interest rate hours before the Bank of England released interest rates and yes shortchanged us instead . Used to be at the forefront years ago but not now . Will be looking elsewhere to put my savings

demon williams

a year ago

WORST CARD & CUSTOMER SERVICE…

WORST CARD & CUSTOMER SERVICE (PATRICIA) EVER, WARNING!!!!!!! WARNING!!!!! STAY CLEAR OF THIS HIGH INTEREST HEADACHE I NEVER SIGNED UP FOR THIS CARD TO MAKE THINGS CLEAR, SINCE CAPITAL SOLD THIS CARD TO MARCUS BY GOLDMAN SACHS THIS HAS BEEN TROUBLE AS FAR AS INTEREST, I PAID THE BALANCE IN FULL A WEEK LATER I OPEN THE CARD AND ITS A INTEREST FEE, I WAS TOLD I HAD TO PAY THE BALANCE FOR TWO MONTHS STRAIGHT (SOME GARBAGE THAT MADE ABSOLUTELY NO SENSE @ ALL, CONSIDERING I PAID IT OFF BEFORE THE INTEREST EVEN HIT THE CARD, I JUST END UP PAYING THE REMAINING INTEREST JUS TO PUT THIS BEHIND ME BUT I WILL NOT USE THIS CARD FOR NOTHING BUT SMALL PURCHASES JUS TO KEEP IT OPEN SO IT WONT HURT MY CREDIT, IN MY OPINION THIS IS A COMPLETE SCAM CARD.

mr. robert eastwood

a year ago

From Hero to Zero

With the recent increases in the Bank of England Base rate. Marcus were in the first instances reasonably prompt in raising their interest rate but of late Marcus it seems you are lulling behind the marketplace.

jonathan cruickshank

a year ago

Great bank

Great bank - you get inetrest and customer service - Lloyds please take note!

katerina

a year ago

Uncompetitive interest rate

From an operational perspective, my experience with Marcus has been very good. Transfers are super fast and the set up is easy and uncomplicated. However, whilst the Marcus saver started off as a market leader with the best interest rate, they have not kept this up and the interest rate is now uncompetitive. There are several other providers offering significantly better interest rates. Unlike them, Marcus is very slow to pass the recent Bank of England base rate increases onto its customers, whereas the challenger banks have been quick to increase their interest rates above the base rate. As such, Marcus is no longer my main go to provider for easy access savings, which is a shame. Ultimately, as ever, it would seem the bigger the bank, the less they need to make an effort to keep their customers.

donna

a year ago

Credit Card Points Held Hostage!!

HELP! MY GM POINTS ARE BEING HELD HOSTAGE BY MARCUS! I don't know if Marcus UK is same as Marcus USA, but this is my review of Marcus Goldman Sachs USA. I have had a General Motors Capital One credit card for several years, which Goldman Sachs/Marcus took over. I never had a bit of problem when the GM card was handled through Capital One. The slow tedious process of the transfer from Capital One to Marcus was the least of my complaints. I have been notified of late payments 3 times since March (when I received my card), although I set them up to be paid online and on time through my credit union. After numerous calls with several Chase customer service employees, I found out that Marcus Goldman Sachs only processes ACH payments electronically from Goldman Sachs Bank. All other ACH payments (which is the way my credit union transfers the payments) from other non-Goldman Sachs financial institutions are MAILED to GS from ACH. This is the reason why my payments have been late, even though according my CU, the money transfer was sent out ACH and the payments should have been received on time. GS would not wave the interest and late fees, even though I always pay my card in full (and what I expected to be on time). I suppose somewhere in the fine print there's a notice about ACH payments not originating from GS and the additional time required (I was told 10-12 days!!!) to process. This is highly infuriating to me, as now I likely am showing late payments on my credit reports. I might add that Marcus/Goldman Sachs is the only company I have had a problem with ACH transfers being later than my CU says they will be received. I would happily cancel my Marcus card, but hope to purchase a new GM vehicle in the next year or two, and don't want to lose my accrued points!

mr spooble

a year ago

Appalling utterly contemptous attitude…

Appalling utterly contemptous attitude to the customer, they really don't give a stuff. Characterised by automated inhumanity. If GS care that little why bother ? Save yourself the Kafkaesque stress and go elsewhere.

auau64

a year ago

Bad customer service

I recently tried to log into the Marcus app , it was really important as I needed to move some funds right away . fingerprint log in didn't work , my password didn't work , tried to reset the password and the account was locked . I had to phone the bank to try and unlock my account. The UK customer service team are terrible . I was put through to complaints which took over 30 minutes . The complaints team are very patronising! I made my complaint and then you have to wait for a written response from these people. When I eventually received there response they had basically not put any of the relevant important information into there findings. I phoned the bank again and once again your put on hold for ages before being able to speak to complaints. Once again I had to go through my complaint. You wait for another written response and once again all the key issues are missing. . This bank has changed ,!!! Terrible customer service I will be taking my £59,000 and putting it somewhere it will be appreciated! Update Marcus Goldman Sachs have seen this review and closed my account moving all my funds to a registered account without my acknowledgment or permission

nicole jones

a year ago

Extremely quick, efficient & positive experience

After many long hours of researching and reviewing several loan consolidation platforms, Marcus was our second runner up & won’t mention the first since we were turned down in less then a minute. After typing in my personal information and submit, the process was quick and efficient. Marcus made us feel like human beings & not just a “number”. Extremely happy to get our finance’s back on track with this loan. Look no further there the best at what they do and have to offer

johnnymack

a year ago

Interest rates

Interest rates, why do customers have to renew there own bonus Interest rate? If they don't they do not receive it, is this just a way of saving your company money. Why not up the Interest rate accordingly and forget about the customer having to click a button on your web page, disgraceful company, shame on you.

mark

a year ago

Stay far away from this scam of a bank

Wow, where do I begin? Aside from the customer service issues (what kind of bank doesn’t have online chat these days?) they also do not let you log into your account while outside the US. That’s right: need to transfer money to a checking account and withdraw cash while on vacation? Tough luck! I spent $10 in international charges to CALL and request a transfer, after which I promptly closed the account. Even in the US, it was a nightmare to transfer funds out of Marcus. I added a new Citi account, completed the trial deposit verification process, and initiated a transfer only for Marcus to manually reverse it due to ‘potential fraud.’ When I called, they said I needed to call to inform them I had added a new account to transfer money (like they’re a nosy parent). Making the trial deposit process useless! Stay away, stay away. No interest rate is worth this incompetence.

michael brierley

a year ago

transfer money

i have just transfered money to nominated account as mine was getting low,always very quick never had problems with marcus,good service all round

dbmaul

a year ago

Stay away from Marcus by Goldman Sachs!

Stay away from Marcus by Goldman Sachs at ALL COSTS. Seriously, if you take any honest review to heart and look for a different product, this is the one. My experience has been absolutely horrendous and I want to save others from the headache of dealing with a company still operating in the dark ages. If you don't believe me, check out the wall of 1 star reviews here: depositaccounts com/banks/reviews/marcus-goldman-sachs.html This company is horrible. It does not empower its employees with the ability to do anything helpful for business customers. Business customers can only contact customer service through one line, via phone - not email, chat, etc - and the phone representatives have no power to make anything happen other than tick buttons in a system and tell the customer on the other end of the line that they're actually doing something. There is no email when you close your account. There is no email when you make your final payment. There is no email with a pay-off letter, often needed to unlock certain items. Everything is by snail mail. Everything is antiquated. Everything requires you wait 2+ weeks to even know if something has been done. I will NEVER recommend Marcus, and I will ALWAYS recommend people RUN.

s854

a year ago

Transfers can be slow

I'm pleased with the interest rate on my account however they need to do something about the money transfer times which can be very slow. Weekends tend to be partcularly bad and I've had transfers out of my account that took over 6 hours before. This morning I transferred some money in and it took over half an hour to show up. Most banks I've used transfer money in a few seconds.

john strickland

a year ago

Excellent service once again

Excellent service once again. While on holiday with little or no wifi I received an email about an increase in the interest bonus. I was unable to action it. Today I get a reminder which I've actioned. I don’t get this with other online banks.

new york

a year ago

Highly recommend

I've been with Marcus a few years and very impressed with the service. Withdrawals from the account take seconds and always back in my bank account in less than 5 minutes. Amazing service and I shouldn't think they're a clearing bank either. Not sure how they achieve that speed. Very good reports too. Just wish they offered fixed rate bonds. Not surprised as they're owned by Goldman Sachs. UK challenger banks need to learn from the Americans. Next will be Chase part of JP Morgan

gill ellis

a year ago

Excellent bank

I'd like to assure Richard Kosinski (29 Apr 2022) that this is not a fake review. I have had a Marcus account since summer 2019. I can't speak for their customer services because I have never needed to ask for it. I love this bank. I'm so impressed that they have increased the interest rate on my savings account several times recently - including offering a better bonus rate than before - without me having to ask. It's nice to be told by a bank that they are giving you money without you having to drag it out of them. They are part of the 'faster payments' system so transfers in and out are always really quick. The only disadvantage with this account is that you can only transfer to and from one linked account but that's not a hardship. Very happy to recommend.

janin campos

a year ago

Mark was excellent and super helpful in…

Mark was excellent and super helpful in dealing with a large payment we needed made towards our house purchase. It is refreshing to deal with a knowledgeable, helpful and pleasant professional that is truly service orientated,. Thanks Mark and Marcus

lynne sweeney

a year ago

Samantha

I dealt with a young lady called Samantha and nothing was to much trouble. I recently suffered from a Brain tumour and how she handled my enquiry was above the call of duty.

gene hobdy

2 years ago

Save yourself some frustration and…

Save yourself some frustration and DON'T get this card. Won't give a confirmation number when you make a payment.. Unable to do anything.

andrew jinman

2 years ago

Truly excellent customer service.

Whilst I have switched to Chase, with a higher deposit interest rate, I have not found a more competent customer service team. Although, I have only had the need to speak to them on two occasions. Special mention must be given to Cecil who dealt with our query today with competency and sympathy. Which is rare! Another bonus is I was connected in under a minute. Will return if the deposit interest rate is competitive.

robertog

2 years ago

Marcus Bank are very good at making…

Marcus Bank are very good at making things easy. Absolutely no trouble opening and operating my account, makes me wonder why other banks have so many difficulties. "Does what it says on the tin" banking. Excellent!

bri the master

2 years ago

Marcus is just very good

Been with Marcus for just over 2 years. Everything seems very efficient and professional. The website is clear and easy to navigate and use. I have had no problems with them. I have sought information from Customer Services on one or two occasions and a) they answered very quickly (amazing these days) b) they treated me like a human being, were pleasant and answered my queries in non-banking language. Good simple communications and better interest rates than many.

malcolm chester

2 years ago

Always excellent, highly recommended

Always excellent. Have moved funds elsewhere on a few occasions but soon returned as none were a patch on Marcus for service, speed and efficiency. Thoroughly recommend them