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Marcus by Goldman Sachs reviews

Rated Excellent 4.74/5

Marcus by Goldman Sachs reviews

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Unverified business
Last reviewed within 7 days

Review summary

People rate this company as Excellent based on 98 product reviews

Average score of 4.74/5
5 star
74%
4 star
21%
3 star
3%
2 star
1%
1 star
1%

Latest positive rating

5/5

really easy to use and I enjoy seeing savings increa...

really easy to use and I enjoy seeing savings increase each month

{"display":"Elodie L","full_name":"Elodie L","avatar":{"url":"\/assets\/images\/default_new.png"}}'s avatar
Savings
Elodie L 21st April 2025

Latest negative rating

1/5

Poor experience with Cash ISA transfer out of Marcus

Last year, I switched an ISA over to Marcus. Switching over was straightforward and was done electronically from the previous provider. Fast forward to earlier... Last year, I switched an ISA over to Marcus. Switching over was straightforward and was done electronically from the previous provider. Fast forward to earlier in 2023 when I wanted to switch the ISA out of Marcus to another provider. I was unable to transfer my ISA electronically from Marcus to the new provider as Marcus does not support electronic transfers. Sadly, I only became aware of this at the time I wanted to transfer the ISA out of Marcus as this information is not made clear in the product particulars. It is only if you read the FAQs on ISAs that it tells you that Marcus does not support BACS transfers out of ISAs. So what does this mean in practice? It means that in order to transfer your ISA out of Marcus, you have to complete a form from your new provider which you have to hand in to a local branch of the new provider or post it to them. As you have to include personal information in the form, Imagine the security issues that this creates and what might happen if your form were to get lost in the post and fall into the hands of a less than honest third party! Once your new provider receives the completed form, they post it to Marcus (creating further security issues). Once Marcus receives it, they generate a cheque for your ISA funds and post it back to your new provider. Imagine what might happen if the cheque gets lost in the post. In the 21st century, we are expected to rely on such an antiquated system which relies on forms and cheques being put in the post rather than a simple electronic transfer! In my case, the transfer took 18 days in total. This is a process which a few banks complete electronically in no more than 48-72 hours. I contacted Marcus to ask if my new ISA provider could have emailed my completed form to them instead of putting it in the post. Marcus said that this is possible and even provided an email address to facilitate this. On checking this with my new provider, my understanding is that the email address cannot be used routinely. In the first instance, the completed form should always be sent by post. It is only if the form goes missing in the post that the email communication is normally used. I lodged a complaint with Marcus and spoke with a member of their customer services team. The long and short of it was that they will not change their process unless they receive a sufficient number of complaints like mine. I was even asked if they could consider my complaint ‘resolved’ to which I relented even though strictly, the complaint cannot be considered resolved. Bottom line is whenever you open a cash ISA with any provider, clarify from the outset whether they allow switching in and out of ISAs to be done electronically. If they don’t, then think very hard whether you want to open an ISA with them as you will potentially be faced with lengthy switch out transfer times as well as the associated significant security issues with documents being sent by post! Read more Read less

{"display":"Neil S","full_name":"Neil S","avatar":{"url":"\/assets\/images\/default_new.png"}}'s avatar
Savings
Neil S 2nd July 2023

About Marcus by Goldman Sachs

Named after Marcus Goldman, one of the firm’s founders, Marcus by Goldman Sachs "relies on the strength and heritage of a 148-year-old financial institution to provide consumers with transparent and simple approaches to achieve financial well-being". Is Marcus by Goldman Sachs meeting your expectations? Share your review today and help increase trust and transparency in financial services.

Marcus by Goldman Sachs at a glance

Reviews for Marcus by Goldman Sachs

Showing 11 of 98 company reviews Last reviewed within 7 days

really easy to use and I enjoy seeing savings increa...

Savings 21st April 2025

really easy to use and I enjoy seeing savings increase each month

Rated Excellent 5/5
Read more product reviews

Instant access and reasonable rate

Savings 16th April 2025

Instant access and reasonable rate

Rated Excellent 5/5
Read more product reviews
  • 5/5

    Easy to use with reasonable rate of interest

    It's not offering the highest interest rates on the market but not usually significantly lower. We really like the ease with which we can transfer... It's not offering the highest interest rates on the market but not usually significantly lower. We really like the ease with which we can transfer funds between the savings and our nominated current account. We've never encountered any issues to date (hence not leaving a rating for customer service - we've never needed them) and transfers both ways go through very quickly. With only one linked account permitted, I can be confident of not transferring funds to the 'wrong' accounts, whether mine or somebody else's. Read more Read less

    {"display":"Richard Holmes","full_name":"Richard Holmes","avatar":{"url":"\/assets\/uploads\/avatars\/users\/684509.png"}}'s avatar
    Savings
    Richard Holmes 10th April 2025
  • 5/5

    Accessible & Great Interest Rates

    They are easy to access via their secure website which is so easy to use. They offer competitive savings rates across a number of accounts.... They are easy to access via their secure website which is so easy to use. They offer competitive savings rates across a number of accounts. Their communication is great, and they are very responsive to any contact. Read more Read less

    {"display":"Neil Franklin","full_name":"Neil Franklin","avatar":{"url":"\/assets\/uploads\/avatars\/users\/477903.png"}}'s avatar
    Savings
    Neil Franklin 3rd April 2025
  • 5/5

    Instant access with on-line savings

    I have held an instant access account for several years with Marcus and transfers in and out to my nominated account are very prompt. They... I have held an instant access account for several years with Marcus and transfers in and out to my nominated account are very prompt. They are always competitive with their interest rates, once the rolling 12 month bonus is included Read more Read less

    {"display":"Neil","full_name":"Neil","avatar":{"url":"\/assets\/images\/default_new.png"}}'s avatar
    Savings
    Neil 2nd April 2025
  • 5/5

    Top savings account in my opinion.

    Competitive online savings with an excellent easy to navigate website. Been with them for years and no complaints.

    {"display":"Steve Ballard","full_name":"Steve Ballard","avatar":{"url":"\/assets\/uploads\/avatars\/users\/13082.png"}}'s avatar
    Savings
    Steve Ballard 26th February 2025
  • 5/5

    Great rates and good service.

    Great rates and good service. Looked after me when dealing with parents estate and generally adjusting accounts.

    {"display":"Chris Kimpton","full_name":"Chris Kimpton","avatar":{"url":"\/assets\/uploads\/avatars\/users\/636575.png"}}'s avatar
    Savings
    Chris Kimpton 26th February 2025
  • 5/5

    Instant transfer back and forth between my bank acco...

    Instant transfer back and forth between my bank account and Marcus pays me 4.3% on my instant access savings and money that would otherwise sit in my bank account earning nothing.

    {"display":"Anthony Haddon-Cave","full_name":"Anthony Haddon-Cave","avatar":{"url":"\/assets\/images\/default_new.png"}}'s avatar
    Savings
    Anthony Haddon-Cave 26th February 2025
  • 5/5

    Easy to open.ease of using Marcus by Goldmans Sachs

    Easy to open. - and ability to add/withdraw funds are very easy

    {"display":"M malhotra","full_name":"M malhotra","avatar":{"url":"\/assets\/images\/default_new.png"}}'s avatar
    Savings
    M malhotra 26th February 2025
  • 5/5

    They offer great rates, good customer service

    They offer great rates, good customer service and generally offer a good product

    {"display":"Chris Kimpton","full_name":"Chris Kimpton","avatar":{"url":"\/assets\/uploads\/avatars\/users\/636575.png"}}'s avatar
    Savings
    Chris Kimpton 22nd January 2025
  • 4/5

    Easy to Use, not the best Savings Rate

    Setting up an account with Marcus is easy to do and thorough. Once a market leader Savings Account, Marcus no longer provides one of the... Setting up an account with Marcus is easy to do and thorough. Once a market leader Savings Account, Marcus no longer provides one of the best savings rates, which is a shame because the App is easy to use and the customer service is quick and friendly. Read more Read less

    {"display":"Alexandra L","full_name":"Alexandra L","avatar":{"url":"\/assets\/images\/default_new.png"}}'s avatar
    Savings
    Alexandra L 20th January 2025

    Products from Marcus by Goldman Sachs

    Showing all products offered by Marcus by Goldman Sachs

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