Marcus by Goldman Sachs®  Avis 148

They didn't let me use my money after the funds became available to use. I didn't have the money in there long enough was the excuse.

Deserves it's bad reviews. It operates in a very underhand way. You are limited on withdrawals to an absurdly low amount and you cannot close it until you drip feed withdrawals to a base amount. The regulator should not allow this. I am sure it is buried in their terms and conditions but have you seen how long they are?!
I am contemplating referring them to the Ombudsman but really teh Regulator should be a bit more on top of these sort of operations.

I rarely write negative reviews, but my experience with Goldman Sachs Marcus has been beyond frustrating and financially damaging.

I opened a High Yield CD and simply wanted to change the maturity instruction from the default “Renew CD” to “Close CD.” What should have been a basic request turned into four separate calls, each lasting 20–30 minutes, filled with multiple holds and repeated explanations. Despite speaking with multiple agents and even a supervisor, I was given no ticket number, no confirmation, and no timeline, just vague assurances that someone would “follow up.”

No one ever did.

Instead, the bank went ahead and closed my CD without my consent, resulting in me losing my contracted APR, especially painful given that rates have since dropped.

When I called again to resolve this, there were no clear answers or accountability. One representative suggested that a previous associate may have entered incorrect instructions, something I have absolutely no way to verify. The supervisor I eventually spoke to was disengaged, showed zero empathy, and came across with a clear “we don’t care” attitude.

To make matters worse, when I asked to file a formal complaint, I was told I could not do so via email and would need to send a physical letter. For an “online bank,” this is unacceptable. There is effectively no meaningful customer recourse.

This experience reflects poor processes, lack of accountability, and a complete disregard for customer impact. I would strongly caution anyone considering banking with Marcus.

They offered a $$1500 bonus for a 90 day deposit of $100,000. I complied with that met all of the details however on another Marcus account, I actually moved some money. A small amount they utilized the movement of any funds on any of my accounts that disqualified my bonus because in the very, very very fine print on their offer it says you can’t move any money in or out for the 90 day. period on any account that you have with Marcus so today I closed all my accounts what a horrible distrustful fiduciary nightmare this turned out to be.
trust Marcus Bank with my money NEVER.!!!!!!! SHAME ON ME FOR NOT LOOKING UP THEIR RATINGS BEFORE DOING BUSINESS WITH THIS HORRIBLE SO-CALLED FINANCIAL INSTITUTION TOTALLY UNBELIEVABLE. THAT COMPANY IS LARGE AS GOLDMAN SACHS OPERATES SUCH WAYS.

Marcus by Goldman Sachs is one of the most frustrating banking experiences I’ve had.

This account is fine only as long as you never actually need your money. The moment you try to move funds, you run into unnecessary restrictions and delays. Transfers are heavily limited — they often only allow money to go back to the original linked account, and adding or using other accounts (even if they are in your own name) becomes a painful and unreliable process.

When you need access to your funds urgently, the system simply doesn’t work. Transactions get flagged, delayed, or blocked without clear upfront communication, leaving you stuck waiting with no real solution.

Customer service makes the situation worse. Instead of helping, representatives and supervisors just repeat scripted disclosures without addressing the actual problem. There is no sense of urgency, no ownership, and no effort to resolve real customer needs.

Overall, this is not a practical banking solution if you expect flexibility or timely access to your own money. I would not recommend relying on Marcus for anything beyond basic, passive savings.

We ran into the same thing. Extremely long time to sign up, and now I'm reading that it is difficult to get your money out. I now seriously question Goldman Sachs. Why would they attach their name to such a flaky organization? Maybe it is a legitimate organization, and the supervisors there are pinching every penny for their bonus, only to turn the place into something terrible.

Total amateur hour. Long wait. Both representatives with heavy accents that I could barely understand.
One who obviously didn't have a clue trying to be guided by another one. Left me feeling totally untrusting of the whole organization.

This account seems great with the high interest in potential $1500 bonus but beware that you cannot transfer money out unless you’re transferring to the originating account. I have spoken directly to dedicated rep named Dina who told me it was because ‘it’s not designed to be a checking account’. However, I am not treating it like one. I just need to use my money sometimes, people don’t put money in savings to never use it. If this policy works for you then I’m sure the account will be fine but for me, it doesn’t.

I opened a Cd account today and transferred a large amount of money into the account from another institution. When I checked online the status of the transfer it noted the transfer was started but my application was not complete. I called and asked what the problem was they said all is good the account is in your name and the transfer is on its way. I said no the account is supposed to be joint with my husband. They told I didn't add my husband when I know for positive I did since I had to call him for his social. I said I wanted to close the account right now because it has to be a joint account. I was told when the transfer goes through, I can close it and it will cost me 1934.00 to do so. So can I add my husband, no you can't it's too late. I made at least 5 phone calls thank goodness I recorded each call including the one a man named Ala said he would close it right now and the money would transfer back to my credit union. And there would be NO CHARGE!!! And I would get email confirmation of this transaction, only to get an email stating the account would close April 6th 2027!! I will be getting in touch with my Attorney and then Consumer Financial Protection Bureau DO NOT DO BUSINESS WITH THESE PEOPLE SHAME ON ME FOR NOT LOOKING AT THEIR RATING

I wish I could give negative stars. Horrible horrible horrible customer service. I've spent over two months now trying to get my deceased mother's 1099. NOT EVEN HER MONEY! Just the stupid 1099 so I can pay taxes on her money. I regret ever telling them she died.

Customer service sucks. Spent an hour on the phone with them and got redirected 4 times to 4 different to customer service agent all of which asked me the same questions and non were able to help me.

They told me that I can't transfer my own money to another account after I put the money in. I need to wait for 60 days. If I want to, I can only transfer the money back to its original source. I tried to transfer it back the the original account, Marcus closed my account and hold the money. I called then they said it's for security reason that I can't move my own money. Now it's been 7 days and my 100,000 is still showing nowhere.

Changed their policy, you are not allowed to make wire transfers to business accounts. They changed this policy without informing me, I did not receive any notification and I had to call and waste 3 hours of my time. I will be taking my money out of marcus.

Could not send my own money to purchase a home because Marcus arbitrarily set a rule that they will only let you send money to yourself. Unsurprisingly, money is not very useful if you cannot use it to buy things. If you are expecting liquidity from your cash, look for another bank.

0/10 would not recommend.

I saw online that Marcus had limits to wire transfer values so I called to see if there was a way around those limits, they told me to just call and they can exceed those limits no problem, great.

I call the next day to complete the wire transfer and am told they cannot wire transfer to a third party "now". I ask why "now" and just get the same answer, can't do it "now". Okay then I have to transfer to a normal bank that can wire to third parties so I ask what is my fastest option? I get no answer and instead just get told my options again with no guidance whatsoever.

Because Marcus support misinformed me I have to push my closing date on my new home, push movers, push utility transfers, and significantly disrupt my life, all which could have been completely avoided if they just gave me accurate information in the first place.

0/10 would not recommend.

I tried to open an account, and I have to verify the information I entered with at least 2 people. It sounds fishy to me, so I had them cancel my application.

I was offered a bonus program to move new funds to an account, and used the link sent to open the account prior to the expiration, but the promo was not applied. I was told the account was opened in time, but that the promo was not applied. I challenged this and was told it should have been applied and would be reviewed. I was told within 24 hours it was denied since the promo had ended and would not be reconsidered. I will never do business with them and caution anyone that you, too, may be misled and not receive what was offered when you meet all the requirements.

Terrible customer service. We made a mistake with a deposit and called within an hour and though they were very polite they said there was nothing they could do. Not interested and no effort. Think twice before using them because they certainly aren’t into customer service.

Phone, chat, and mail interactions are unhelpful. I attempted to increase CD by $30k via phone; interaction was so long, arduous, and useless, I ended up scheduling for closure of existing CD.
Further, a different Marcus representative called me back later only to be stuck in the same useless loop. I asked for no further interaction initiated by them.

Tried to open online savings account absolute worst experience took all my personal information and couldn't verify anything tried multiple times technical error messages stating try again later or call customer service which you cannot get through. What a sh## show of a bank.