Marcus by Goldman Sachs vs. Wells Fargo
Comparing Marcus by Goldman Sachs and Wells Fargo for savings: Marcus by Goldman Sachs's Marcus Online Savings Account pays 3.65% APY while Wells Fargo's Platinum Savings pays 0.05% APY.
Note: Wells Fargo requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Marcus by Goldman Sachs pays $360 more than Wells Fargo annually ($365 vs $5).
Choose Marcus by Goldman Sachs if getting the best rate matters most, or you want a no-strings-attached account. Choose Wells Fargo if you value in-person banking, or you want Zelle for quick transfers.
Important Considerations
Wells Fargo requires a checking account to unlock its top savings rate, while Marcus by Goldman Sachs offers its savings account standalone.
| Metric | Marcus by Goldman SachsMarcus Online Savings Account Mar 7, 2026 | Wells FargoPlatinum Savings Mar 7, 2026 |
|---|---|---|
| APY | 3.65% | 0.05% |
Est. Earnings | $5,000+$183 $10,000+$365 $25,000+$912 | $5,000+$3 $10,000+$5 $25,000+$13 |
Min Deposit | $0 | $25 |
Snapshot view. Rates subject to change. | ||
Terms | - | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingStable Rate | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Marcus by Goldman Sachs vs. Wells Fargo
Executive Summary
Marcus by Goldman Sachs offers a superior savings option with its Marcus Online Savings Account, featuring an attractive 3.65% APY, no minimum deposit, and no maintenance fees, making it ideal for those seeking simplicity and better returns. In contrast, Wells Fargo's savings products, including the Way2Save Savings and Platinum Savings accounts, offer significantly lower rates of 0.01% and 0.05% APY, respectively. The Platinum Savings account requires linking to a Wells Fargo Premier checking account to access its higher tiers, and it has a $1,000,000 minimum balance for the best rate. Overall, Marcus stands out as the more favorable choice.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Marcus by Goldman Sachs?
- ✓Higher potential APY (3.65% vs 0.01%-0.05%) on all balances
- ✓No checking account or direct deposit required
Why Wells Fargo?
- ✓Physical branch access (Wells Fargo offers branches and ATMs in 36 states and Washington, D.C.)
- ✓Offers 2 different high-yield savings options
- ✓Fast transfers via Zelle® (up to $3,500 a day)
— Key Feature Differences —
Better Returns at $10,000
Marcus by Goldman SachsMarcus by Goldman Sachs's Marcus Online Savings Account earns more on smaller deposits (approx. $365 vs $5/yr).
Better Returns at $25,000
Marcus by Goldman SachsMarcus by Goldman Sachs's Marcus Online Savings Account pulls ahead with larger amounts (approx. $912 vs $13/yr).
Best for Simplicity
Marcus by Goldman SachsMarcus by Goldman Sachs's Marcus Online Savings Account offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Marcus by Goldman Sachs's Marcus Online Savings Account pays $360 more interest on a $10,000 balance than Wells Fargo's Platinum Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Marcus by Goldman Sachs vs. Wells Fargo Savings Calculator
You earn $360 more with Marcus by Goldman Sachs than Wells Fargo on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Marcus by Goldman Sachs
Marcus Online Savings Account
Savings Breakdown
- Interest Earned+$365.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,365.00
Wells Fargo
Platinum Savings
Higher APY requires $1,000,000
Savings Breakdown
- Interest Earned+$5.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,005.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Marcus by Goldman Sachs | Wells Fargo |
|---|---|---|
| APY | 3.65% Verified: 3/7/2026 Stable (90d) | 0.05% Range: 0.05% - 0.05% Verified: 3/7/2026 Stable (90d) |
| Product Name | Marcus Online Savings Account | Platinum Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $1,000,000 |
| Monthly Fee | $0 | $12. Waived with $3,500 minimum daily balance. |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | N/A | Wells Fargo offers branches and ATMs in 36 states and Washington, D.C. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; zero fees to replace wires. |
| BBB Rating | A+ | A- |
| Important Notes | - | This is a tiered savings account where rates vary based on the balance. The 0.05% APY is available for balances of $1,000,000 or more, and 0.05% APY up to $99,999.99. These APYs require the account is linked to a Wells Fargo Premier checking account. See bank for more tiers and details. |
| Next Steps | Visit SiteVerify at Marcus by Goldman Sachs Non-sponsored link to official site | Visit SiteVerify at Wells Fargo Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Marcus by Goldman Sachs | Wells Fargo | |
|---|---|---|---|
| Marcus Online Savings Account | Platinum Savings | Way2Save Savings | |
Current APY | 3.65% | 0.05% | 0.01% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -0.0 | -42.5 | 0.0 |
Days Since Change | 235 | 141 | 235 |
8-Month High | 3.65% | 2.51% | 0.01% |
8-Month Low | 3.65% | 0.05% | 0.01% |
Adjustments / Mo | 0.00 | 0.38 | 0.00 |
Volatility Score | 0.000 | 1.394 | 0.000 |
How to read these metrics(Click to expand)
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