Does anyone here have a “Marcus” savings account by Goldman Sachs Bank? What are your thoughts so far?

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🖐 8yrs worth of BOA savings interest times 100 in first month 👀🤓

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Don’t all savings account have a limit of 6 withdrawals per month?

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I do. It’s great. No check writing but I’ve never needed that so it’s a nonissue. You can electronically transfer funds to any other bank account. No fees (that’s I’m aware of). These are all things found in their FAQ 🙂

likesmart

Positive

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Yep. Good good. Great rate. Good for a saving account that you don’t need to access all the time since it doesn’t link (or at least didn’t) to quicken etc

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M1 - Can we transfer funds between Marcus and BofA accounts? Does Marcus charge fees?

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I've had them for 6months and their rate has increased from 1.75 to 2.05. Obviously part of that is market aligned but hard to complain when your apr goes up 5 basis points every month

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No fees, just takes time to reflect. A couple of days.

Thanks A1. I’ll take a look at their FAQ section. I’m wondering why I even have a savings account with BofA. Their interest is minuscule.

@EY: Saving bank interest rates are always minimal with traditional banks. Yet, people keep it for emergency funds and also because one can withdraw from it any number of times (and instantly). With accounts like Marcus, guess there is some restriction on #of times one can withdraw in a given period

No regrets

Yes. It has gone from 1.8% to 2.05% apr in the last year. Pays interest monthly. Easy UI online. Only challenge is no ATMs or cards. Must transfer money to another account to use it

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