Updated
Fact Checked
Eric McWhinnie
Bottom line: Capital One has no minimum deposits on its CDs and a free checking account, while Marcus by Goldman Sachs ranks higher for customer service.
Marcus vs. Capital One: Account options
Savings accounts
Marcus by Goldman Sachs and Capital One offer high-yield savings accounts -- the Marcus by Goldman Sachs Online Savings Account and the Capital One 360 Performance Savings. Both accounts have no monthly fees and no minimum deposit or balance requirements. The Marcus by Goldman Sachs Online Savings Account has a slightly higher APY -- 4.40% versus the 4.25% offered by Capital One. For its part, the Capital One 360 Performance Savings allows you to deposit checks through its app, while Marcus does not currently support this feature.
Rates as
of May 19, 2024
| Offer |
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|---|---|---|
| Account | ||
| Rating |
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
| APY | 4.25% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening. | 4.40% |
| Min. to earn APY | $0 | $0 |
| Next Steps |
|
Checking accounts
At this time, Marcus doesn't offer a checking account, which is a bummer if you want all your accounts in one place. Capital One, however, offers the Capital One 360 Checking, which has no monthly fees and no deposit or balance requirements. Even better, the account earns a small amount of APY (0.10%), which, true, doesn't compete with the best interest-earning accounts but is still a rarity among free checking accounts. It also offers a checking account for teens.
Rates as
of May 19, 2024
| Offer |
|
|
|---|---|---|
| Account | ||
| Rating |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
| APY | 0.10% | 0.10% |
| Min. to earn APY | $1 | $0 |
| Next Steps |
|
|
CDs
Looking at CDs, Capital One and Marcus have several terms to offer, plus decent APYs and low minimum opening deposits.
Marcus CDs come in 10 terms, ranging from six months to six years, with a $500 minimum for each CD. It also has a unique 10-day CD rate guarantee, which will automatically raise your CD rate if ongoing rates go up, so long as you deposited the minimum $500 within the same period of time.
Capital One 360 CDs come in 12 terms, ranging from six months to 5 years, and require no minimum deposits. That's rare for a big bank, especially since CDs are usually used to draw in large deposits from clients. You'll also find some decent CD rates at Capital One.
Rates as of May 14, 2024
APY = Annual Percentage Yield
| Offer |
|
|
|---|---|---|
| Account | Marcus by Goldman Sachs High Yield CD | Capital One 360 CD |
| 6 Mo. | 4.80% | 4.25% |
| 9 Mo. | 4.90% | 4.25% |
| 1 Yr. | 4.90% | 5.00% |
| 1.5 Yr. | 4.60% | 4.45% |
| 2 Yr. | 4.20% | 4.00% |
| 3 Yr. | 4.15% | 4.00% |
| 4 Yr. | 4.05% | 3.95% |
| 5 Yr. | 4.00% | 3.90% |
| 6 Yr. | 3.90% | -- |
| Min. Deposit | $500 | $0 |
| Early Withdrawal Penalty | Yes | Yes |
| Next Steps |
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Marcus vs. Capital One: APYs
Marcus has a slightly better APY on its savings account. The rates on both banks' savings accounts are decent, but they're not better than the top high-yield savings accounts.
When it comes to CDs, both banks have similar offerings, though Marcus comes out on top for quite a few terms. That said, the two banks have similar offerings across a few terms.
Marcus vs. Capital One: Customer service
Based on third-party reviews and studies, Marcus frequently ranks higher than Capital One in customer satisfaction.
For example, Marcus ranked higher than Capital One on the J.D. Power 2023 U.S. Direct Banking Satisfaction Study. While Marcus was second with a score of 736, Capital One was seventh with a score of 708. What's more, Capital One ranked below the study average (718). That said, in the J.D.Power 2023 U.S. National Banking Satisfaction Study, Capital One has ranked first among national banks four years in a row.
Both banks are BBB accredited and have A+ rating. Neither has a great rating on Trustpilot, with Marcus getting 2.7 stars and Capital One 1.3 stars.
Marcus vs. Capital One: Mobile apps
Capital One lets you see all your Capital One accounts in one place (including credit cards and loans), monitor your credit, make transfers, redeem rewards, deposit checks, and pay bills. The app has 4.8 out of 5 stars on the App Store and 4.5 out of 5 stars on Google Play.
For its part, the Marcus app can sync thousands of external accounts to give you a big-picture view of your finances. As you sync more bank accounts, Marcus can give you more personalized insights into your spending. Unfortunately, the app doesn't currently support mobile check deposits. It has 4.9 out of 5 stars on the App Store and 4.3 stars on Google Play.
Marcus vs. Capital One: Which is right for you?
Capital One might be right for you if you're looking for a hybrid between online banking and in-person support, as it does have some brick-and-mortar locations. Likewise, it could be fitting if you want to open a checking account, as Marcus doesn't currently have one. On the flip side, Marcus might be right if you want a slightly higher APY on your savings account.
Compare savings rates
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!
|
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.00% APY for balances of $5,000 or more
Rate info
5.00% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000 for max APY
|
N/A
|
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.25%
Rate info
To ensure you keep getting the highest rate at UFB, you'll need to keep an eye on their rates. Occasionally, the bank launches new accounts with higher rates. Existing accounts need to contact the bank to request being moved to one of these new accounts.
Min. to earn: $0
|
N/A
|
Our bank and credit union methodology
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how The Motley Fool Ascent rates bank accounts.
FAQs
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Marcus is well suited for those who don't need a checking account and want a savings account with a decent APY. It might also be right for those who value customer service experiences, as it frequently ranks high for customer support.
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Capital One is right for those who want all their accounts at one financial institution. It might also be great for those who live near a Capital One Cafe and want to mix their online-only accounts with some in-person support.
Our Banking Experts
Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.
Fact Checked
Eric McWhinnie
Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.
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