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Marcus Bank specializes in savings accounts and CDs and offers competitive APYs (annual percentage yields). It also allows for same-day transfers to external banks, which helps make up for its lack of a checking account. Read our full Marcus Bank review to learn more about all the company has to offer.
Marcus Bank offers some eye-catching APYs and it doesn't charge monthly maintenance fees on any of its accounts. You can't withdraw funds directly, but the bank does offer same-day transfers to other banks and credit unions for maximum convenience.
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 Motley Fool Money rates bank accounts.
Marcus Bank is a good fit for you if:
Marcus only currently offers one savings account product, but it's a pretty good one.
The Marcus by Goldman Sachs Online Savings Account offers a decent APY with no monthly maintenance fees or minimum balance requirements. This is pretty typical for online savings accounts. In fact, high APYs are a major advantage of online savings accounts when compared with brick-and-mortar savings accounts.
What helps set this savings account apart from its online competitors? It offers same-day fund transfers of $100,000 or less to and from other banks. This is great if you need money in a hurry. It's especially useful with the Marcus by Goldman Sachs Online Savings Account, because this account doesn't offer an ATM card or any other way to directly withdraw funds.
On Marcus by Goldman Sachs's Secure Website.
Member FDIC.
Sponsored Listing
Marcus by Goldman Sachs Online Savings Account
On Marcus by Goldman Sachs's Secure Website.
On Marcus by Goldman Sachs's Secure Website.
We think the Marcus by Goldman Sachs Online Savings Account is perfect for savers who want a no-frills savings account with zero fees and top-tier interest rates. $100,000 same-day transfers makes it especially enticing for big money movers. Simplicity is key: you'll struggle to find another high-yield savings account that's as straightforward as this one.
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 | Bonus | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
4.90/5
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 4.50%
Rate info
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. to earn: $0
|
Earn up to $300 and +0.70% Boost on Savings APY with direct deposit. Terms apply.
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for Discover® Online Savings
On Discover Bank's Secure Website.
4.80/5
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 |
3.40%
Min. to earn: $0
|
Earn up to $200 when you use offer code TMF925 on your first Discover Online Savings application.
Apply for your first Discover Online Savings Account with offer code TMF925. Deposit $15,000 to earn a $150 bonus or deposit a total of at least $25,000 to earn $200. Deposits must post within 45 days. Offer ends March 12, 2026. See Discover's website for full details.
|
Open Account for Discover® Online Savings
On Discover Bank's Secure Website. |
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website.
4.40/5
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 |
4.10%
Rate info
The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. to earn: $500 to open, $0.01 for max APY
|
N/A
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Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code TMF925 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/12/2026, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank.
There are two types of Marcus by Goldman Sachs certificates of deposit (CDs): and Marcus by Goldman Sachs No-Penalty CDs.
are its most popular option. Terms range from 6 months to 6 years, and you only need a minimum balance of $500 to open one. These CDs lock in your rate for the entire term. However, they also come with a 10-day rate guarantee. If Marcus's CD rates increase within 10 days after you open your CD, the bank will automatically raise your rate.
Marcus Bank offers No-Penalty CDs with 7-, 11-, and 13-month terms. It has the same minimum balance requirements as the bank's High-Yield CDs ($500), but only the 13-month CD has a rate comparable to its High-Yield counterparts; APYs on the other two terms are far below today's highest-paying CDs. As the name implies, you can withdraw your savings from these CDs at any time after the first seven days without paying a penalty. Note that taking your funds out early will decrease the amount of interest you earn.
Marcus Bank currently doesn't offer any checking accounts, so it's not ideal for those who hope to manage all their money in one place. Fortunately, Marcus Bank has one of the few savings accounts that promises same-day fund transfers to other banks. With this feature, you can move money from your savings account to a checking account at another bank almost instantly.
Marcus Bank maintains an A+ rating with the Better Business Bureau and ranked second in overall satisfaction among savings providers in J.D. Power's 2023 U.S. Direct Banking Satisfaction Study℠.
It offers live, U.S.-based customer support seven days per week. If you have any questions or concerns about your account, you won't have to wait too long to get your answers.
Marcus Bank doesn't offer relationship benefits, like higher APYs or reduced fees, to customers who open multiple accounts with the bank. Brick-and-mortar banks often offer these types of benefits. However, online banks usually offer high APYs to all customers. Relationship benefits don't make as much sense for online banks, and most don't offer them.
What does that mean for you? With Marcus Bank, what you see is what you get. You don't need to open multiple accounts to get the best rates, which is great if you're only interested in one type of account.
If Marcus Bank doesn't seem like the right choice for you, here are some other banks to consider.
Ally Bank is one of the best-known online banks. This is partly because it has one of the widest selections of products. It offers a high-yield savings account, traditional and no-penalty CDs, and the less-common Raise Your Rate CDs. You can also open an interest-bearing checking account and a money market account. Its rates are pretty comparable to Marcus Bank's. In addition, there are no monthly maintenance fees or minimum balance requirements.
Capital One Bank is a great alternative for those who want the high APYs of online banks but aren't ready to sever ties with brick-and-mortar banks completely. Capital One credit cards, checking, savings, CD accounts, and loans are fairly well known. It is possible to bank entirely online with Capital One, but it also has some branch locations in select states for those who would like to get assistance in person.
Marcus Bank is good for savers who want a good APY on their savings accounts and CDs and don't need a checking account. It's also good for those who like the idea of same-day transfers, no fees, and no minimum deposits.
No, Marcus Bank does not have a checking account. Despite beta rollouts and testing of a potential checking account in early 2022, the bank has not released one to its clients, nor does it have plans to do so in the immediate future.
