Marcus by Goldman Sachs Reviews

I help manage my elderly mother's interactions with technology and in particular, banks. She is in her 90s. Her sight, hearing, and now memory are beginning to fail. I called Marcus by Goldman Sachs on 3/11/26 to increase/open her existing CD by $30,000. The interactions were so long, arduous, and ridiculously frustrating that I ended up scheduling her existing CD to close at maturity and have no further contact with Marcus by Goldman Sachs. Phone interactions with a rep and his supervisor, chat via Marcus.com website, and mail addresses on this website, are all designed to not address any complaints from account holders.

If you are thinking of opening a Marcus account, don't. If you have an account, get your money out NOW while you can. I had an account for years and was counting on my significant savings for a house closing. Found out they could not send to an escrow company (too late), but they tried to do it anyway. Failed, but they didn't tell me. Then it's closing day. There's not enough time to transfer to another account. There's a limit on the wires. After the 4th call (or more), a woman talked to us for an hour and promised the money was on its way. Overnight, it failed. We had to do a nail-biting last-minute alternative from my husband's bank, and the next day they transferred this significant amount -- TWICE. Two days later, they reversed the deposit. Now I'm trying to close my accounts for good and they're telling me "they can't do it, someone has to call me back." GET YOUR MONEY OUT OF THERE, NOW.

Customer service is useless. Tried to fill out W9 to withhold taxes. They sent me the form and I sent it back. I get a call telling me the form was filled out wrong, but they won't tell me what was wrong. They said over 2 weeks ago they would send another form. Two weeks later I have not received the form and said they will not send me another.

Error trying to open account. They said I had a previous account (which I do not and never have with them or any Goldman Sachs bank). That they mess up the very first step of trying to get a bank account with them is ridiculous.

Worst service ever. Despite claiming to be a 24/7 online bank, opening an account required multiple calls to customer service. Support is only available during business hours, not 24/7 as advertised. The website is unreliable and frequently throws vague “technical error” messages that even customer service can’t explain. I was repeatedly told to “try again later.” After multiple attempts, I gave up. Total waste of time — stay away.

The worst banking relationship I ever had. No success logging in, getting tax documents and always playing cat and mouse on renewing a CD. The customer service people have difficulty with English and are rude at best and lacking the knowledge.

My secondary beneficiary was removed and not by me. I received NO notification this happened and when I added this person back as a beneficiary, now they are showing as a 50/50 beneficiary rather than as a secondary beneficiary. I have made no changes in years. Looks like you want me to take my business elsewhere when my CD matures. Notification of this natures requires that the client be notified. If you know of anyone with a Marcus account, please have them check their beneficiaries bc if they had a secondary beneficiary, it is now deleted and can only be added back as a 50/50 beneficiary—something Marcus is required to notify their clients of in writing and failed to do so!

Unfortunately, my recent experience with Marcus customer service was not satisfactory. First, I was very surprised to learn that it is not possible to reverse or cancel a transfer made by mistake through the app. In today’s digital world, where fast solutions are expected, this feels frustrating and outdated. I made a simple error and there was no practical way to correct it.

Been a Marcus customer for several years now. Both my husband and I have opened several CD accounts with no problem. In January 2026, when trying to open a CD with a primary and then a joint account holder, you receive a message to call and speak with a rep. To make it short, each party i.e. pimary account holder and joint account holder need to be present on the phone to verify information. When the joint account holder is not available to the phone, you are advised to either open the account as a primary account holder only or wait to open the account when the joint account holder is available. If that person is not available for an extended period of time, you are dead in the water in opening the CD. Not sure what security issues have occurred with Marcus Goldman Sachs to warrant the third degree, but have begun to place funds in other financial institutions without issues.

Incompetent, frustrating, with no communications. Many sudden deposit account freezes for "security investigations," which locks me out of my accounts with no access to my own money for extended periods of time.

This firm makes it very difficult to withdraw your funds. I am getting the run around by customer support, three calls and counting. Marcus continues to lose money for Goldman Sachs, and they do not seem to care about this business or their customers. Do not do business with this firm. There are other high-yield savings programs that offer higher yields and better customer support. 40 years of doing business with financial institutions, this one is the worst.

Terrible dealing with Marcus. They closed the CD and are withholding funds for months claiming a "security investigation." I have had 8 phone calls with no help, posted complaints to BBB and other sites.

My dad had a CD with MGS. I am the sole trustee and heir. I have been trying for more than 4 weeks to access the account. Since they have no physical presence or office you can go to, your only avenue is to call the general number, where you spend ridiculous wait time and talk to numerous people before they send you a FedEx envelope that goes back and forth. They are insisting on an original Trust document rather than a notarized photocopy, which is illegal to require. It is like groundhog day, they keep asking for something that doesn't exist. Have sadly now needed to pay my Dad's lawyer to help resolve this, my Dad would be horrified at the wasted time and frustration. Other financial institutions have transition teams where you are assigned a dedicated person. Edward Jones, Fidelity and Chase all settled issues easily and weeks ago. Do not invest with this company, they are a nightmare to deal with.

I opened a CD and later added more money and opened a couple others a few days later. A week later they barraged me with emails, a letter and a phone call saying there was questionable activity. When I called to follow up they asked so many crazy questions to “verify my identity” including what was my license plate number of a car I sold 18 years ago!!! Since I couldn’t answer that, they locked my account and said I would have to call the next day - when I have guests staying. This is so stressful —- I can’t access MY money (which I transferred from my bank account). They seem like fancy con artists!

Chat and phone call are no help. Unable to verify trial deposits because none were received. My other bank (by external transfer) kept on showing linkage as pending. Marcus told me 8x to manually link accounts. I tried but nothing happened. Asked external bank to cancel linkage. Marcus CD left unfunded. Posted by Marcus but no help: "Don't see the two deposits in your external bank account after three business days? Call us at 1-855-730-7283."

I am having a horrible experience with getting some documents for my deceased mother. She passed away 7/2025 and the clerk of courts is requesting a copy of the beneficiary statement that shows me as a beneficiary. I was an authorized agent on her account and I am also the executor of the estate, contacted the documents unit at Marcus on 11/5/25 to request the information and they stated that the requested documents would be sent on ~ 11/6/2025 and should take 7-10 business days. As of 11/18/25 still had not received the documents and called Marcus back and spoke with Freddy in the documents unit. He advised documents had not been sent and that a letter of testamentary that had already been provided. Spoke with Freddy and Deija. 11/19/25 received a call from Victoria in Texas and returned her call on 11/20/25 with no follow up to date by “Victoria”. Horrible service and follow up on all fronts.

Good luck dealing with them if you become an executor of an estate. They're devoid of any common sense. They take weeks to review documents then tell you you'll be getting the second check. A week later they call me and tell me I need to send them another notarized L8 form before they can issue the 2ond check. I mean WTF, my Father passes away, I'm the executor of his estate, and this is how I get treated? Shop around for better rates just to avoid them, if not, SET UP BENEFICIARIES ON EVERY ACCOUNT, but that's good advice with ANY bank. I'm QUITE underwhelmed with their service.

Declined my application for a new cd account. Tried opening online but asked to call instead. Spoke to 2 people, one being a manager, both declining my new account. Won't provide any explanation for it. Felt like a criminal.

We are filing a case in the district court of New Hampshire against Marcus for false and misleading practices as well as failure to verify information on their public website. As a result, I was penalized with a substantial early withdrawal penalty. This is erroneous and unsubstantiated. They say conversations are recorded for training purposes but this is only partially true. When the recordings benefit them they use it against you. When the recordings benefit you they REFUSE to listen to them. What kind of business does this?

My wife and I had credit card accounts through Marcus by GS. Earlier this year, we were hacked to the tune of over $7,500. Marcus denied our claim despite overwhelming evidence that we were defrauded.

For a company that has been around for years, their customer service STINKS!!! Tried for days to get a transfer from my bank to theirs after setting up an account. Tried to add my cell phone number to my account and couldn't because they try to send SMS verification to my land line. Tried to contact them on their toll free number and every time I hit the number to talk to someone the system hung up on me. If I hadn't already transferred the money, I would have gone with someone else!!!

I would give 0 stars if it was an option. They hire the rudest customer service people that are incompetent. I would never recommend this to anyone unless you really hate that person then you should recommend it. Terrible customer service that can't even change a due date when your payments are made. They just scam their customers. - Nick Z.

Have a joint account that we never pay attention to. Happened to do my monthly review and my funds were gone. Account gone. 5 phone calls later nothing has been resolved. My husband was primary. I had forgotten that when I changed my info. For some reason (reverify yearly income). It got sent to his old business mail so they closed it and sent a check (which went to wrong address). I keep asking why I wasn’t notified (crickets). I was told by one rep that my profile wasn’t attached to the account (really online I am able to see it?). One would think if my profile was t attached which is a crock it’s FUNNY that the check had my name on it? So now WE are jumping thru hoops, spending money on notary and to send a paper for missing check certified. Acct closed 8/11. It is 9/10. IF a check was sent out it should have came back to them by now. SO AVOID AVOID Marcus **.

As long-term customers of Goldman Sachs, we are absolutely shocked and appalled by their recent Fraud Department's actions. Unfortunately, my husband and I are among the growing number of Marcus by Goldman Sachs Fraud Department Lockouts. Not only are we locked out, but we are also frozen out. We are approaching two weeks with no explanation. According to Consumer Rights, they may be violating your rights laws. The fraud department is supposed to tell you why they are locking you out. I think they are trying to drum up fraud since they don’t have any documentation. They actually called my bank that we’ve been in good standing with for over 40 years and Kudos to the bank for refusing to divulge confidential information.

I opened a Marcus Bank account in June 2025 and within 3 weeks I deposited a check for $9800. Within a few days, Marcus Bank said the check was altered and was a fraud. They went so far as to call a local Police Department and have them sent to my house for me to answer questions! Imagine the shock of family and neighbors seeing a Police Car at my home to interrogate me!! Marcus even sent me a copy of the check I deposited and another copy of the same check with another name as "pay to" which wasn't my name!! Crazy. Within 2 weeks I got a letter from Marcus saying that due to fraudulent activity my account is closed. Within another week I got a letter saying that the check I deposited was valid and processed.

I deposited my money more than a year ago to open an account, I am now unable to transfer any money back to my local account. I keep linking my account to the account I have with them and it just says to keep calling them. I’ve called numerous times and have been told to call their security team even though I have all of my info. I cannot transfer any of my own money. I can’t even close my own account. Calling my lawyer tomorrow.

I tried linking external account. Was locked out of my account. On hold for 5 min. He came back and said was closing account.. How the hell you suppose to fund account. Big waste of my time.. Definitely not recommend to anyone.. **... Big waste of time.. Other more reliable places to put your money.. Steer clear of this company. Thank you.

DO NOT INVEST YOUR MONEY WITH MARCUS BY GOLDMAN SACHS! They will restrict access to your account for no legitimate reason and deny you access to your own money. I deposited a check on April 18 into one of my Marcus accounts. On May 26 (Memorial Day, 38 days later), I was denied access to my account and that money stating they needed to further verify the check. I needed to use the money to pay a sizable bill later that week. My husband who has a separate joint account with me was denied access to the money in the joint account. After multiple phone calls and lack of progress with resolving the issue with Marcus, we had to take out a line of credit with our local bank to pay our bill. We were only given access back once we filed a complaint with the Consumer Financial Protection Bureau. I then closed my account and now use Bread Savings.

Requested a check May 23rd. May 28th deducted. Check arrived 10 business days later. Made out to the wrong recipient, I had to request a discrepancy form and return the check, June 9th I mailed it back Next Day Air, July 16th finally looked at their mistake, July 17th approved, July 19th mailed. I'm still waiting what about the interest. What if it was an emergency and I needed that money

If you care about your family, DO NOT bank with this company. My father passed away in early May. He had all of his accounts setup as TOD (Transferable on Death) so that we (his children) would not have to deal with the red tape of probate. While the multiple other financial institutions we have dealt with were easy to do business with, dealing with Marcus has been a complete nightmare. It has now been over 2 months and I have spent countless hours wasting time on the phone trying to get resolution on the funds from my fathers account.