Skip to main content

Is Marcus FDIC Insured?

Minho Investment Association| Updated: August 29, 2023

Marcus is an online consumer banking platform established by Goldman Sachs. It offers a range of financial products and services designed to assist individuals in managing their money, saving, and borrowing responsibly. 

In this article, we examine Marcus’ structure and how it affects investor protection regarding FDIC Insurance.

Is Marcus FDIC Insured?

Yes, Marcus by Goldman Sachs provides FDIC insurance coverage for its savings accounts and CDs. This means that the funds deposited into Marcus savings accounts and invested in CDs are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum limit allowed by law, currently $250,000 per depositor per bank.

It’s important to note that other financial products Marcus offers, such as personal loans, do not fall under FDIC insurance coverage since they are not deposit accounts.

Marcus’ Insured Deposit Program

Marcus savings accounts, provided by Goldman Sachs Bank USA, are FDIC insured, offering protection for deposited funds. Under FDIC coverage, individually-owned accounts and CD accounts are insured up to the current legal limit of $250,000. Joint accounts receive separate coverage, granting each owner up to $250,000. Accounts with beneficiaries are also individually insured up to $250,000 per beneficiary, and Marcus accounts can include up to six beneficiaries.

To maximise FDIC insurance, consider the different types of account ownership: individual accounts for each family member (up to $250,000 per account), joint accounts (up to $250,000 per owner), and accounts with named beneficiaries (up to $250,000 per beneficiary). To ensure eligibility for maximum FDIC coverage, primary and joint account owners are required to sign a Signature Card.

Understanding FDIC Insurance

The Federal Deposit Insurance Corporation (FDIC) insurance stands as a cornerstone of financial security for depositors in the United States. This protection offers peace of mind by safeguarding your funds against potential bank failures.

In essence, FDIC insurance is a safety net for your deposits, covering a wide range of accounts, including savings, checking, and certificates of deposit (CDs).

The assurance extends up to $250,000 per depositor per bank, ensuring that a significant portion of your funds remains safeguarded even in the face of unexpected challenges.

It’s important to note that FDIC insurance applies exclusively to traditional banking products, not investments like stocks, bonds, mutual funds, or other securities. The coverage primarily pertains to cash deposits, ensuring that even if a bank faces financial difficulties, your hard-earned money is shielded up to the specified limit.

FDIC deposit insurance covers: FDIC deposit insurance does not cover:
Checking accounts Stock investments
Negotiable Order of Withdrawal (NOW) accounts Bond investments
Savings accounts Mutual funds
Money Market Deposit Accounts (MMDAs) Life insurance policies
Certificates of Deposit (CDs) Annuities
Cashier’s checks Municipal securities
Money orders Safe deposit boxes or their contents
Other official items issued by an insured bank U.S. Treasury bills, bonds, or notes
Crypto assets

Understanding Marcus: A Closer Look

Marcus by Goldman Sachs, introduced in 2016, is an online banking platform that extends accessible financial solutions. Backed by the renowned Goldman Sachs, Marcus offers high-yield savings accounts, enabling customers to earn competitive interest rates on their deposits. Additionally, it provides personal loans featuring fixed interest rates and no fees, catering to various financial needs.

The platform presents Certificates of Deposit (CDs) as investment options, delivering higher interest rates than traditional savings accounts. Its emphasis on transparency is evident through its fee structure, ensuring customers face no hidden charges. With a user-centric approach, Marcus supplies educational tools, guiding customers in making informed financial decisions.

Supported by the robust reputation of Goldman Sachs, Marcus amalgamates financial expertise with digital convenience. The platform’s commitment to simplifying banking through transparency, educational resources, and user-friendly mobile accessibility reflects its endeavour to help individuals effectively manage their finances.


In summary, Marcus by Goldman Sachs, an online consumer banking platform, offers a range of financial products and services designed to assist individuals in managing their finances responsibly. The platform provides FDIC insurance coverage for its savings accounts and CDs, ensuring that funds deposited within these accounts are protected up to the current legal limit of $250,000 per depositor per bank

This insurance coverage offers reassurance against bank failures, enhancing the security of customers’ funds. While other financial products like personal loans are not covered by FDIC insurance, Marcus emphasises transparency, education, and user-friendly accessibility, making it a comprehensive solution for individuals seeking efficient and secure financial management.

Minho Investment Association

The Minho Investment Association (MIA) is a junior initiative from the University of Minho (Portugal), which aims to promote financial literacy among young people.