Marcus by Goldman Sachs Review 2026: HYSA, CDs, and No Fees
By David Rosenberg, Personal Finance Editor · May 20, 2026
Marcus by Goldman Sachs pays 4.50% APY on its HYSA with no minimum balance and no monthly fees. Its 12-month CD tops out at 4.70% APY. Marcus is savings-only: no ATM card and no checking account. This review covers every product Marcus offers, where it leads the field, and where it falls short.
Marcus by Goldman Sachs at a glance
| Feature | Detail |
|---|---|
| HYSA APY | 4.50% |
| Minimum balance | $0 |
| Monthly fees | $0 |
| ATM access | No |
| Checking account | Not available |
| FDIC insured | Yes, up to $250,000 |
| Best for | Fee-hating savers who want a trusted brand |
Our verdict
Marcus wins for people who want a trusted brand, a competitive rate, and zero fees. If you hate fine print and just want a clean savings account from a name-brand institution, Marcus checks every box. The 4.50% APY is strong. The app is rated 4.9 out of 5 on iOS. There are no monthly fees, no minimum balance, and no surprise charges of any kind.
Marcus is not the highest-yielding option in 2026. CIT Bank Platinum Savings edges it out at 4.55% APY (with a $5,000 minimum). If every basis point matters, shop around. But if you want the Goldman Sachs name behind your savings, the institutional credibility and no-fee promise make Marcus a strong pick.
The main trade-offs are simple: no ATM card and no checking account. Marcus is savings-only. To spend money from Marcus, you initiate an ACH transfer to your regular bank, which takes 1 to 3 business days. If you can live with that, Marcus is excellent. If you want instant cash access or a full banking relationship, look at Capital One 360 or Discover instead.
Marcus HYSA details
Rates as of May 2026. Verify current rates at marcus.com before opening an account.
APY
4.50%
Minimum balance
$0
Monthly fee
$0
ATM card
No
Withdrawal method
ACH transfer
Transfer time
1-3 business days
FDIC insured
Yes
Marcus CD options
| Product | Term | APY | Min. Deposit | Early Withdrawal Penalty |
|---|---|---|---|---|
| 12-Month CD | 12 months | 4.70% | $500 | 90 days of interest |
| 6-Month CD | 6 months | 4.40% | $500 | 90 days of interest |
| No-Penalty CD | Flexible | 3.90% | $500 | None (after 7 days) |
What Marcus does well
- No minimum balance on the HYSA. Most competitors require $500 or more to open.
- No fees of any kind. No monthly fee, no transfer fee, no account closure fee.
- Goldman Sachs name means deep institutional backing. FDIC insured with a strong capital base.
- Top-rated mobile app. 4.9 out of 5 on the iOS App Store, with savings goal buckets built in.
Where Marcus falls short
- No ATM card or debit card. Cash access requires an ACH transfer to an outside bank, which takes 1 to 3 business days.
- No checking account pair. Marcus is savings-only. It works best as a hub for your savings, not your spending.
- Not the top APY in 2026. Synchrony and CIT Bank edge Marcus out on rate. If you want to maximize yield, compare before you commit.
Who should open a Marcus account
Marcus is a great fit if you want a savings account from a name-brand institution, hate fees, and do not need ATM access. It is especially good for emergency funds, down-payment savings, or any money you plan to park and grow without touching it often. The $0 minimum balance means you can open an account with whatever you have right now.
If you want the absolute highest rate, Synchrony or CIT Bank may edge it out. If you want a full banking relationship with checking plus savings in one place, go with Capital One 360 or Discover instead. Marcus works best when it pairs with a checking account you already have at another bank.
How Marcus compares to top alternatives
| Bank | HYSA APY | Min Balance | ATM | Checking |
|---|---|---|---|---|
| Marcus by Goldman Sachs | 4.50% | $0 | No | No |
| CIT Bank Platinum Savings | 4.55% | $5,000 for top tier | No | No |
| Capital One 360 | 4.30% | $0 | Yes | Yes |
See our full best high-yield savings accounts comparison for a wider look at the top-rated options in 2026.
How to open a Marcus account
- Visit marcus.com or click the link on this page to go directly to the Marcus HYSA application.
- Enter your personal information: name, address, date of birth, and Social Security number.
- Fund your account via ACH from your current bank. The transfer takes 1 to 3 business days to clear.
See how much you will earn at 4.50% APY
Plug your balance into the free HYSA calculator and see your growth over 1, 3, and 5 years.
Run the math at 4.50% APYFrequently asked questions
Is Marcus by Goldman Sachs safe?
Yes. Marcus is operated by Goldman Sachs Bank USA, which is FDIC insured. Your savings are covered up to $250,000 per depositor. Goldman Sachs is one of the largest and most regulated banks in the world. (Source: FDIC.gov)
What is the current Marcus HYSA rate?
As of May 2026, Marcus pays 4.50% APY on its high-yield savings account. There is no minimum balance to earn this rate. Rates can change. Check the Marcus website before you open an account.
Does Marcus have a checking account?
No. Marcus is a savings-only bank. You cannot write checks or use a debit card directly from Marcus. Move money in and out via ACH transfers to your regular checking account.
Is Marcus good for emergency funds?
Yes. A Marcus HYSA is a solid place for an emergency fund. No fees, no minimum balance, FDIC insured, and a competitive rate. The only trade-off is that you need to transfer money out before you can spend it, which takes 1-3 business days. If you need instant access to cash, pair Marcus with a checking account at another bank.
How do Marcus CDs compare to Marcus HYSA?
Marcus CDs pay 4.70% APY on a 12-month term, about 20 basis points more than the HYSA. The trade-off: your money is locked for the term, and you pay a 90-day interest penalty if you withdraw early. Use a CD if you know you will not need the money for 6-12 months.
What is the Marcus no-penalty CD?
The no-penalty CD lets you withdraw your full balance any time after 7 days with no early withdrawal fee. The APY is lower (3.90% vs 4.70% for the 12-month CD). It is a middle option between a fully liquid HYSA and a traditional locked CD.
Can I have multiple Marcus accounts?
Yes. You can open multiple savings accounts (up to a combined $1 million) and multiple CDs. Useful for bucketing goals (emergency fund, vacation fund, down payment). All counts toward the $250,000 FDIC limit per bank.
Sources and methodology
APYs and product terms were pulled directly from marcus.com on May 20, 2026. FDIC insurance data from fdic.gov. App store rating from the iOS App Store on the date of this update. See our methodology page for full editorial standards.