Smart Money People Logo

Voting in the British bank awards 2025 is open - Vote here

Own this company?
Share this page

Marcus by Goldman Sachs reviews

Rated Excellent 4.72/5

Marcus by Goldman Sachs reviews

Unverified business
Last reviewed within 7 days
FintechSavings account

Review summary

People rate this company as Excellent based on 95 product reviews

Average score of 4.72/5
5 star
73%
4 star
22%
3 star
3%
2 star
1%
1 star
1%
Reviews for Marcus by Goldman Sachs have trended positively over the past 90 days

Latest positive rating

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

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

FintechSavings account

Reviews for Marcus by Goldman Sachs

Showing 11 of 95 company reviews Last reviewed within 7 days

Accessible & Great Interest Rates

Savings 3rd April 2025

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

Rated Excellent 5/5
Read more product reviews

Instant access with on-line savings

Savings 2nd April 2025

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

Rated Excellent 5/5
Read more product reviews
1/9

Products from Marcus by Goldman Sachs

Showing all products offered by Marcus by Goldman Sachs

Savings

by Marcus by Goldman Sachs

Marcus by Goldman Sachs launched in 2018 with an easy access savings account that initially had a market-leading interest rate. Already a Marcus by Goldman Sachs savings customer? Leave a...

Savings account
Average Rating of Excellent
4.72/5 based on 95 individual reviews

We are Smart Money People

Join 2 million active users who make better financial decisions with the power of reviews.

Create an account

Protecting trust by verifying companies and reviewers

The only site that specialises in financial services

Providing everyday people with a voice