# Marcus by Goldman Sachs

> Source: https://docs.barcoder.ai/docs/wallets/marcus-by-goldman-sachs
> research date 2026-05-30 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Marcus by Goldman Sachs — official](https://www.marcus.com/)

## Overview

**Marcus by Goldman Sachs** is **US online-only bank + subsidiary of Goldman Sachs** + **Marcus no longer issues credit cards and personal loans + only offers savings and CDs** + **2026 Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase ~24 months** + **2024 Apple + Goldman Sachs $89M fine for Apple Card failures** + **Apr 2023 Apple Card Savings 4.15% high-yield account launch via Marcus** <sup>[1][1], [2][2], [United States report](https://docs.barcoder.ai/docs/payments/US)</sup>. **2025 baseline**: Marcus US online-only bank + subsidiary of Goldman Sachs + Marcus no longer issues credit cards and personal loans + only offers savings and CDs; **Goldman Sachs sharply curtailed its originations of personal loans amid the rollout of its credit card partnership with Apple** distinctive Goldman Sachs consumer banking strategic pivot; **2026 Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase** distinctive Apple Card transition from Goldman Sachs to Chase.

**Distinctive Marcus positioning**:
- **US online-only bank + subsidiary of Goldman Sachs** (Goldman Sachs Bank USA; Salt Lake City branch; The Goldman Sachs Group Inc subsidiary)
- **Marcus no longer issues credit cards and personal loans + only offers savings and CDs** distinctive Marcus consumer banking simplification post-Apple Card pivot
- **2026 Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase ~24 months** distinctive Apple Card transition from Goldman Sachs to Chase
- **2024 Apple + Goldman Sachs $89M fine for Apple Card failures** distinctive Apple Card regulatory enforcement
- **Apr 2023 Apple Card Savings 4.15% high-yield account launch via Marcus** distinctive Apple Card + Marcus savings integration
- **Aug 2019 Apple Card launch by Goldman Sachs + Apple partnership** distinctive Apple Card founding partnership
- **2016 Marcus by Goldman Sachs founding** distinctive Goldman Sachs consumer banking heritage
- **Marcus tailored to customers looking for savings products with high earning rates without the need for a full-service banking relationship** distinctive Marcus high-yield savings positioning

## History

**1869 — Goldman Sachs Group founding by Marcus Goldman in New York City** distinctive Goldman Sachs heritage (Marcus by Goldman Sachs named after founder).

**2016 — Marcus by Goldman Sachs launches as Goldman Sachs Bank USA US online-only consumer bank** distinctive Goldman Sachs consumer banking heritage.

**Aug 2019 — Apple Card launch by Goldman Sachs + Apple partnership** distinctive Apple Card founding partnership.

**2020-2022 — Marcus by Goldman Sachs personal loans + Marcus Invest robo-advisor + checking accounts pilots**.

**Apr 2023 — Apple Card Savings 4.15% high-yield account launch via Marcus** distinctive Apple Card + Marcus savings integration.

**2023 — Goldman Sachs sharply curtails Marcus consumer banking operations + announces strategic pivot back to investment banking + Marcus personal loans wind-down**.

**Oct 23 2024 — Apple + Goldman Sachs $89M fine for Apple Card failures** distinctive Apple Card regulatory enforcement.

**2026 — Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase ~24 months** distinctive Apple Card transition from Goldman Sachs to Chase <sup>[3][3]</sup>.

**2025 — Marcus no longer issues credit cards and personal loans + only offers savings and CDs** <sup>[1][1], [2][2]</sup>.

## Ownership & operator

**Operating entity**: **Goldman Sachs Bank USA** (NYSE: GS; Salt Lake City branch; The Goldman Sachs Group Inc subsidiary; US online-only bank).

**Major shareholders**: **The Goldman Sachs Group Inc (NYSE: GS) parent + Goldman Sachs institutional + retail + foreign investors**.

**Regulators**: **FDIC + OCC + FRB + Utah Department of Financial Institutions**.

## Technical integration

Marcus by Goldman Sachs mobile app (iOS + Android) + marcus.com online + Marcus High-Yield Savings Account (FDIC-insured) + Marcus CDs (Certificates of Deposit) + Marcus Invest (robo-advisor; wound down 2023-2024) + Apple Card Savings 4.15% high-yield account (via Marcus); ACH + RTP + Fedwire; **Marcus no longer issues credit cards and personal loans + only offers savings and CDs + Marcus is an online-only bank and subsidiary of Goldman Sachs, with loans and deposit products provided by Goldman Sachs Bank USA, Salt Lake City branch + Marcus by Goldman Sachs doesn't operate physical branches and therefore doesn't have the same overhead costs as brick-and-mortar banks, which allows it to pass along savings to customers in the form of high rates and low fees + Marcus by Goldman Sachs is tailored to customers looking for savings products with high earning rates without the need for a full-service banking relationship** distinctive Marcus high-yield savings + CDs positioning post-2023 pivot.

## Users & growth

Marcus US online-only bank + subsidiary of Goldman Sachs + Marcus no longer issues credit cards and personal loans + only offers savings and CDs.

## Use cases

US retail + private + high-yield savings + CDs (Certificates of Deposit) + Apple Card Savings via Marcus mobile + marcus.com online; ACH + RTP + Fedwire; **Marcus no longer issues credit cards and personal loans + only offers savings and CDs + Marcus is an online-only bank and subsidiary of Goldman Sachs, with loans and deposit products provided by Goldman Sachs Bank USA, Salt Lake City branch + Marcus by Goldman Sachs doesn't operate physical branches and therefore doesn't have the same overhead costs as brick-and-mortar banks, which allows it to pass along savings to customers in the form of high rates and low fees + Marcus by Goldman Sachs is tailored to customers looking for savings products with high earning rates without the need for a full-service banking relationship** distinctive Marcus high-yield savings + CDs positioning post-2023 pivot.

## Implementations & partners

**Operator**: Goldman Sachs Bank USA (NYSE: GS; Salt Lake City branch; The Goldman Sachs Group Inc subsidiary; US online-only bank); The Goldman Sachs Group Inc (NYSE: GS) parent + Goldman Sachs institutional + retail + foreign investors.

**Apple partnership (transitioning to Chase ~24 months)**: **Aug 2019 Apple Card launch by Goldman Sachs + Apple partnership + Apr 2023 Apple Card Savings 4.15% high-yield account launch via Marcus + 2026 Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase ~24 months** distinctive Apple Card founding partnership + transition from Goldman Sachs to Chase.

**Major US online-only banks + neobanks + high-yield savings competitors**: [Ally Bank](https://docs.barcoder.ai/docs/wallets/ally-bank-app) (US online bank; post-2009 GMAC conversion) + [Discover Financial Services](https://docs.barcoder.ai/docs/wallets/discover-financial) (US credit card + online bank) + [Chime](https://docs.barcoder.ai/docs/wallets/chime) (US largest neobank for low-income + financially underserved; 8.6M active members; ~25M signups; post-Jun 12 2025 NASDAQ IPO at $11.2B → $18.2B day skyrocket) + [SoFi](https://docs.barcoder.ai/docs/wallets/sofi) (US neobank + lending + investing all-in-one fintech + OCC national bank charter Jan 2022 + 15M+ members + SoFiUSD stablecoin May 2026) + [Varo Bank](https://docs.barcoder.ai/docs/wallets/varo) (US first neobank to receive full-service national bank charter from OCC Jul 31 2020) + [Capital One Mobile](https://docs.barcoder.ai/docs/wallets/capital-one) (US Capital One Financial Corporation; NYSE: COF; 360 Performance Savings; Brex $5.15B acquisition announced Mar 2026) + [U.S. Bank (USB)](https://docs.barcoder.ai/docs/wallets/us-bank) (U.S. Bancorp; NYSE: USB; US #5 bank by assets) + [Chase Mobile (JPMorgan Chase)](https://docs.barcoder.ai/docs/wallets/chase-mobile) (Chase Bank + JPMorgan Chase US largest bank by assets; post-2026 Apple Card transition recipient) + [Wealthfront](https://docs.barcoder.ai/docs/wallets/wealthfront) (US robo-advisor + cash + lending; NASDAQ: WLTH post-Dec 12 2025 IPO ~$2B valuation).

**Regulators**: FDIC + OCC + FRB + Utah Department of Financial Institutions.

## Fun facts

- **US online-only bank + subsidiary of Goldman Sachs** (Goldman Sachs Bank USA; Salt Lake City branch; The Goldman Sachs Group Inc subsidiary).
- **Marcus no longer issues credit cards and personal loans + only offers savings and CDs** distinctive Marcus consumer banking simplification post-Apple Card pivot.
- **2026 Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase ~24 months** distinctive Apple Card transition from Goldman Sachs to Chase.
- **2024 Apple + Goldman Sachs $89M fine for Apple Card failures** distinctive Apple Card regulatory enforcement.
- **Apr 2023 Apple Card Savings 4.15% high-yield account launch via Marcus** distinctive Apple Card + Marcus savings integration.
- **Aug 2019 Apple Card launch by Goldman Sachs + Apple partnership** distinctive Apple Card founding partnership.
- **2016 Marcus by Goldman Sachs founding** distinctive Goldman Sachs consumer banking heritage.
- **Marcus tailored to customers looking for savings products with high earning rates without the need for a full-service banking relationship** distinctive Marcus high-yield savings positioning.
- **1869 Goldman Sachs Group founding by Marcus Goldman in New York City** distinctive Goldman Sachs heritage (Marcus by Goldman Sachs named after founder).

## Comparison

| Feature | Marcus by Goldman Sachs | [Ally Bank](https://docs.barcoder.ai/docs/wallets/ally-bank-app) (US online bank rival; post-2009 GMAC conversion) | [Discover Financial Services](https://docs.barcoder.ai/docs/wallets/discover-financial) (US credit card + online bank rival) | [Wealthfront](https://docs.barcoder.ai/docs/wallets/wealthfront) (US robo-advisor + cash + lending rival) | [Chime](https://docs.barcoder.ai/docs/wallets/chime) (US largest neobank for low-income + financially underserved rival; 8.6M active members) |
|---|---|---|---|---|---|
| Operator | **Goldman Sachs Bank USA (NYSE: GS; Salt Lake City branch; The Goldman Sachs Group Inc subsidiary; US online-only bank)** | Ally Financial Inc. (NYSE: ALLY) | Discover Financial Services (NYSE: DFS) | Wealthfront Corporation (NASDAQ: WLTH post-Dec 12 2025 IPO ~$2B valuation) | Chime Financial Inc. (NASDAQ: CHYM; post-Jun 12 2025 NASDAQ IPO) |
| Type | **US online-only bank + subsidiary of Goldman Sachs + Marcus no longer issues credit cards and personal loans + only offers savings and CDs + 2026 Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase ~24 months + 2024 Apple + Goldman Sachs $89M fine for Apple Card failures + Apr 2023 Apple Card Savings 4.15% high-yield account launch via Marcus + Marcus high-yield savings + CDs positioning** | US online bank post-2009 GMAC conversion + Ally Auto Finance + Ally Invest | US credit card + online bank | NASDAQ: WLTH post-Dec 12 2025 IPO ~$2B valuation + platform assets $94.1B Feb 2026 + leading robo-advisor + automated investment portfolios + Wealthfront Home Lending Nov 2025 launch | US largest neobank for low-income + financially underserved + 8.6M active members + ~25M signups + Jun 12 2025 NASDAQ IPO $11.2B → $18.2B day skyrocket + Bancorp Bank + Stride Bank partner-issued |
| Country | US | US + CA | US | US | US |
| Distinctive | **1869 Goldman Sachs Group founding by Marcus Goldman in New York City (Marcus by Goldman Sachs named after founder); 2016 Marcus by Goldman Sachs founding; Aug 2019 Apple Card launch by Goldman Sachs + Apple partnership; Apr 2023 Apple Card Savings 4.15% high-yield account launch via Marcus; 2023 Goldman Sachs sharply curtails Marcus consumer banking operations + Marcus personal loans wind-down; Oct 23 2024 Apple + Goldman Sachs $89M fine for Apple Card failures; 2026 Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase ~24 months** | 1919 GMAC founding; 2009 GMAC conversion to Ally Financial post-GM bankruptcy | 1985 Discover founding by Sears | 2008 Wealthfront founding by Andy Rachleff + Dan Carroll + Jakub Jurek (originally KaChing); Dec 12 2025 Wealthfront NASDAQ IPO | 2013 Chime founding by Chris Britt + Ryan King in San Francisco; 2014 Chime SpotMe overdraft protection; Jun 12 2025 NASDAQ IPO $11.2B → $18.2B day skyrocket |

## Status

**Active, US online-only bank + subsidiary of Goldman Sachs + Marcus no longer issues credit cards and personal loans + only offers savings and CDs + 2026 Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase ~24 months** <sup>[1][1], [2][2], [3][3]</sup>:
- **Goldman Sachs Bank USA (NYSE: GS; Salt Lake City branch; The Goldman Sachs Group Inc subsidiary; US online-only bank)** since 1869 Goldman Sachs Group founding by Marcus Goldman in New York City + 2016 Marcus by Goldman Sachs founding + Aug 2019 Apple Card launch by Goldman Sachs + Apple partnership + Apr 2023 Apple Card Savings 4.15% high-yield account launch via Marcus + 2023 Goldman Sachs sharply curtails Marcus consumer banking operations + Oct 23 2024 Apple + Goldman Sachs $89M fine for Apple Card failures + 2026 Goldman Sachs announces agreement to transition Apple Card program and associated accounts to Chase ~24 months.
- **Marcus no longer issues credit cards and personal loans + only offers savings and CDs**.
- **Apple Card Savings 4.15% high-yield account via Marcus + 2026 Apple Card program transitioning from Goldman Sachs to Chase**.
- **FDIC + OCC + FRB + Utah Department of Financial Institutions regulated**.

## Sources

[1]: https://fortune.com/article/marcus-by-goldman-sachs-review/ "Marcus by Goldman Sachs review: Eye popping interest rates for a savings account — Fortune"
[2]: https://www.americanbanker.com/news/goldman-curtailed-personal-lending-after-launching-apple-card "Goldman curtailed personal lending after launching Apple card — American Banker"
[3]: https://www.goldmansachs.com/pressroom/press-releases/2026/goldman-sachs-announces-agreement-to-transition-apple-card-program-to-chase "Goldman Sachs Announces Agreement to Transition Apple Card Program to Chase — Goldman Sachs"
[us-cro]: https://docs.barcoder.ai/docs/payments/US

- [1] [Marcus by Goldman Sachs review: Eye popping interest rates for a savings account — Fortune][1]
- [2] [Goldman curtailed personal lending after launching Apple card — American Banker][2]
- [3] [Goldman Sachs Announces Agreement to Transition Apple Card Program to Chase — Goldman Sachs][3]
- <sup>[United States report](https://docs.barcoder.ai/docs/payments/US)</sup> In-corpus: `reports/countries/US-united-states.md`

## Source

Biography extracted from [marcus-by-goldman-sachs.md](https://docs.barcoder.ai/source/wallets/marcus-by-goldman-sachs). See `matrix.md` for standards-support matrix if present.