What Marcus does

Marcus by Goldman Sachs is the online consumer banking division of Goldman Sachs Bank USA, a wholly-owned subsidiary of The Goldman Sachs Group, Inc. (NYSE: GS). Founded in 2016 and headquartered in Salt Lake City, Utah, Marcus operates as a direct-to-consumer, branchless digital bank offering high-yield deposit products to U.S. individual consumers seeking better returns than traditional brick-and-mortar banks. The platform's core products are the Online Savings Account (currently 3.40% APY with no minimum deposit, no fees, and unlimited withdrawals) and a family of certificates of deposit including High-Yield CDs (terms from 6 months to 6 years, up to 4.00% APY), No-Penalty CDs (3.80% APY, penalty-free withdrawal after 7 days), Rate Bump CDs (3.75% APY with one-time rate-increase optionality), and limited-time promotional CDs. The platform is accessed via marcus.com and iOS/Android mobile apps, with 24/7 phone support and FDIC insurance through Goldman Sachs Bank USA.

Marcus's underlying technology is a digital banking platform with web-based account management, mobile applications supporting biometric authentication and 128-bit SSL encryption, ACH transfer capabilities with same-day processing for transfers up to $100,000, daily interest compounding, and proprietary product features such as the 10-Day CD Rate Guarantee, CD Maturity Center, and same-day transfer initiation. The platform has no public-facing developer APIs, SDKs, or partner integrations; all account interactions are consumer-direct through the website, mobile app, or phone support.

Marcus generates revenue primarily through net interest income, capturing the spread between interest paid on customer deposits (savings and CDs) and income earned when Goldman Sachs Bank USA deploys pooled deposits into lending and investment activities. The online-only operating model eliminates physical branch costs, enabling Marcus to offer rates materially above the national average — approximately 8x the traditional bank savings rate as of June 2026. Customer acquisition is driven by competitive rates, the Goldman Sachs brand, content marketing (Marcus Memo newsletter, financial calculators, savings guides), and the Marcus Referred referral program offering up to 1.00% annual cash bonuses. All deposits are FDIC-insured up to $250,000 through Goldman Sachs Bank USA. The platform serves a horizontal mass-market consumer segment with a single primary use case (high-yield deposit gathering) and does not currently offer lending or wealth management products following the 2024 divestiture of Marcus Invest to Betterment.

Name

Marcus

Legal name

Goldman Sachs Bank USA

Website

https://marcus.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Marcus by Goldman Sachs is the online consumer banking division of Goldman Sachs Bank USA, offering U.S. retail customers high-yield savings accounts, certificates of deposit, and a referral program through a branchless digital platform backed by Goldman Sachs brand and FDIC insurance.

Ownership category

akta.pro rank

Product category

Online Consumer Banking

NAICS

Depository Credit Intermediation (5221), Finance and Insurance (52)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Retail-focused Neobanks (Mass Market) (FSABAFAA)

akta.pro secondary industry

Structured Deposits (Capital-Protected / Market-Linked Deposits) (FSACAMAM)

Keywords

• High-yield savings accounts
• Certificates of deposit
• Online consumer banking
• FDIC-insured deposits
• Digital banking platform

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Net Interest Income: Marcus generates revenue primarily through the spread between interest paid on deposit accounts (savings and CDs) and interest earned on the pooled deposits through Goldman Sachs Bank USA's lending and investment activities. As an online bank without physical branches, lower operational costs allow for more competitive rates to customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Marcus by Goldman Sachs is an online consumer banking platform operated by Goldman Sachs Bank USA offering FDIC-insured deposit products. Its core offerings include a high-yield Online Savings Account and multiple Certificate of Deposit (CD) variants — High-Yield CD, No-Penalty CD, and Rate Bump CD — with competitive annual percentage yields and no monthly fees.

Product overview

Marcus by Goldman Sachs is an online banking platform offering a suite of deposit products centered on high-yield savings and certificates of deposit. The core product portfolio consists of the Online Savings Account (3.40% APY, no minimum) and multiple CD variants including the High-Yield CD (terms 6 months to 6 years), promotional 14-Month CD (4.00% APY, limited-time), No-Penalty CD (flexible withdrawal after 7 days), and Rate Bump CD (option to increase rate during term). Supporting offerings include the Marcus Referred referral program and mobile app for account management. All products are FDIC-insured through Goldman Sachs Bank USA.

Differentiator

Problem solved

Functional benefit

Products and services

• Online Savings Account High-yield savings account for individual consumers offering 3.40% APY with no minimum deposit, no fees, daily interest compounding, and unlimited withdrawals. FDIC-insured through Goldman Sachs Bank USA.
• High-Yield CD Certificate of Deposit with fixed rates and terms ranging from 6 months to 6 years. Features a 10-Day CD Rate Guarantee and $500 minimum balance for individual consumer savers seeking guaranteed returns.
• 14-Month High-Yield CD Promotional fixed-rate Certificate of Deposit offering 4.00% APY for a 14-month term with $500 minimum, auto-renewing to a 12-month CD at maturity. Available until 7/28/2026.
• No-Penalty CD Certificate of Deposit allowing penalty-free withdrawal of full balance beginning 7 days after funding. Terms range from 7 to 13 months with 3.80% APY, designed for consumers seeking CD yields with withdrawal flexibility.
• Rate Bump CD 20-month CD with the option to increase the rate one time if Marcus raises rates for the same term. Offers 3.75% APY with $500 minimum for consumers who want upside if rates rise.
• Marcus Mobile App Mobile banking application for iOS and Android enabling account access, transfers, transaction tracking, and customer support with biometric authentication and 128-bit SSL encryption.

Quantifiable outcome

• 3.40% APY on Online Savings Account vs 0.40% national average - 8X higher yields
• +2 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Wealthfront: Wealthfront offers a high-yield cash account competing with Marcus on consumer savings, with additional managed investment products in the ecosystem.
• Ally Bank: Ally is the largest US digital-only bank offering high-yield savings, CDs, checking, and lending products. Most directly comparable to Marcus on online savings and CDs with a similar rate-led value proposition.
• Discover Bank: Discover offers high-yield savings, CDs, and money market accounts to consumers, with a comparable no-fee, online-first model and similar rate-led marketing.
• Synchrony Bank: Synchrony is a major online CD and high-yield savings provider targeting retail customers, competing directly with Marcus on term deposits and rate competitiveness.
• Capital One 360: Capital One 360 Performance Savings is a flagship high-yield online savings product competing head-to-head with Marcus on APY and consumer digital banking experience.
• American Express National Bank (High-Yield Savings): AmEx's online bank offers high-yield savings and CDs to consumers, leveraging a strong consumer brand similar to how Marcus leverages Goldman Sachs's brand.
• SoFi: SoFi is a multi-product digital bank offering savings, checking, investing, and lending, competing directly with Marcus on high-yield deposits while offering broader ARPU.
• CIT Bank: CIT Bank (now part of First Citizens) is a digital savings and CD-focused bank with comparable product mix and rate-led positioning to Marcus.

Emerging players

• Betterment: Betterment acquired Marcus Invest in 2024 and now offers cash/savings products, making it both a former-Marcus complement and a competitor in retail cash management.

Broad incumbents

• Goldman Sachs (Parent / Marcus Invest division historically): The parent conglomerate that owns Goldman Sachs Bank USA and the Marcus brand. Relevant as both parent and as a broader financial services incumbent whose consumer strategy shapes Marcus's direction.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/marcus
• YouTubeyoutube.com/channel/UCH_Pjk5cZFpwNkU5aRP_fIA
• Facebookfacebook.com/Marcus
• LinkedInlinkedin.com/showcase/marcus-by-goldman-sachs
• Instagraminstagram.com/marcusbygoldmansachs/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Marcus