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Marcus Goldman Sachs CD legit?

 
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amother




OP
 

Post  Wed, Apr 29 2020, 1:49 pm
Is marcus legit place for CD? It's only online not an in person bank.
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Einikel




 
 
 
 

Post  Wed, Apr 29 2020, 1:52 pm
amother [ OP ] wrote:
Is marcus legit place for CD? It's only online not an in person bank.


Don’t know about this one specifically. But most online banks are legit.
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icedcoffee




 
 
 
 

Post  Wed, Apr 29 2020, 2:02 pm
I've been using Marcus as my primary savings account for over a year. It's been wonderful. Never used their CDs but they are definitely reputable and insured.

However I will say their savings accounts already have an APY of 1.55%. It looks like CDs are about 1.60% depending on the length. It might be worth the security of knowing you can take it out at any time to just keep it in their savings.
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amother




OP
 

Post  Wed, Apr 29 2020, 3:41 pm
icedcoffee wrote:
I've been using Marcus as my primary savings account for over a year. It's been wonderful. Never used their CDs but they are definitely reputable and insured.

However I will say their savings accounts already have an APY of 1.55%. It looks like CDs are about 1.60% depending on the length. It might be worth the security of knowing you can take it out at any time to just keep it in their savings.

How do you withdraw money if its online and how long does it take?
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icedcoffee




 
 
 
 

Post  Wed, Apr 29 2020, 6:21 pm
I've never used it to withdrawn cash. I have a traditional brick&mortar bank where I keep a few hundred dollars and go when I need an ATM, but most of my money is stashed in Marcus where it benefits from the high APY. Sometimes I transfer between the two banks depending on what I need.
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1ofbillions




 
 
 
 

Post  Wed, Apr 29 2020, 6:39 pm
icedcoffee wrote:
I've never used it to withdrawn cash. I have a traditional brick&mortar bank where I keep a few hundred dollars and go when I need an ATM, but most of my money is stashed in Marcus where it benefits from the high APY. Sometimes I transfer between the two banks depending on what I need.


I do the same. Highly recommend using Marcus! Very high APY for a savings account, and their app is awesome.
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1ofbillions




 
 
 
 

Post  Sun, May 10 2020, 11:54 am
So annoyed that Marcus lowered their APY to 1.3%!
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esther11




 
 
 
 

Post  Sun, May 10 2020, 1:45 pm
Me too!!! Do you think it will go back up again after this is done with?
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1ofbillions




 
 
 
 

Post  Mon, May 11 2020, 9:50 am
Good question. I sure hope it will...
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