Marcus By Goldman Sachs vs Wells Fargo
High-Yield Savings Accounts Comparison
Last Updated: July 16, 2025
Summary of Marcus by Goldman Sachs vs. Wells Fargo
As of July 16, 2025 Marcus by Goldman Sachs offers an APY of 3.65% for its Marcus Online Savings Account account, compared to Wells Fargo's 2.51% APY for its Platinum Savings account.
Marcus by Goldman Sachs yields $360 more than Wells Fargo on a $10,000 balance after one year. Marcus by Goldman Sachs pays $365, while Wells Fargo pays $5 (with an effective APY of 0.05%) - an APY advantage for Marcus by Goldman Sachs.
Marcus by Goldman Sachs
Strengths
- Marcus by Goldman Sachs offers a competitive APY of 3.65%.
- No maintenance fees or minimum balance requirements with Marcus Online Savings Account.
- Marcus has a strong BBB rating of A+.
Potential Drawbacks
- Marcus by Goldman Sachs has no physical branches for in-person banking.
- No tiered APY structure; all balances earn the same rate.
Wells Fargo
Strengths
- Wells Fargo offers physical branches and ATMs in 36 states and D.C.
- Wells Fargo's App Store rating is slightly higher at 4.9.
Potential Drawbacks
- Wells Fargo's APY is significantly lower at 2.51% for high balances.
- Wells Fargo has a poor BBB rating of F and is not accredited.
- Maintenance fees apply unless a high minimum balance is maintained.
Summary: Marcus by Goldman Sachs provides a higher APY of 3.65% with no fees or minimums, while Wells Fargo offers physical branches but at a lower APY of 2.51% and has a poor BBB rating. Marcus's lack of branches may be a drawback for some, but its online savings account is more straightforward and beneficial for savers without high balance requirements.
Compare Marcus by Goldman Sachs' vs Wells Fargo's Savings Accounts
| Marcus by Goldman Sachs | Wells Fargo | ||
|---|---|---|---|
| Product | Marcus Online Savings Account | vs | Platinum Savings |
| APY | 3.65% (as of 7/16/2025) | 0.05% - 2.51% (as of 7/16/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | No | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $25 | |
| Minimum Balance for APY | $0 | $1,000,000 | |
| Maintenance Fee | $0 | $12. Waived with $3,500 minimum daily balance. | |
| Direct Deposit Required | No | No | |
| Note | N/A | This is a tiered savings account where rates vary based on the balance. The 2.51%% 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. | |
| Visit Bank | Marcus Online Savings Account | Platinum Savings | |
| App Store Rating | 4.8/5 | 4.9/5 | |
| Google Play Rating | 4.1/5 | 4.8/5 | |
| BBB Rating | A+ | F |
No historical data available.
Calculate Savings Growth for Marcus by Goldman Sachs vs Wells Fargo
All calculations are based on APY.
Marcus by Goldman Sachs
APY: 3.65%
Total savings breakdown:
- Interest earned: $36.5 (3.52%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.48%)
Your total balance
$1,036.50
Effective APY: 3.65% (based on your deposit and contributions)
Total balance: $1,036.5
Earnings: $36.5
Bank DetailsWells Fargo
APY: 2.51%
Total savings breakdown:
- Interest earned: $25.1 (2.45%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (97.55%)
Your total balance
$1,025.10
Effective APY: 2.51% (based on your deposit and contributions)
Total balance: $1,025.1
Earnings: $25.1
Bank DetailsAfter 1 year Marcus by Goldman Sachs would earn you $11.4 more than Wells Fargo.
More Comparisons
Compare Marcus by Goldman Sachs' APY of 3.65% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Marcus by Goldman Sachs vs Ally Bank | 3.50% | $0 |
| Marcus by Goldman Sachs vs American Express | 3.60% | $0 |
| Marcus by Goldman Sachs vs Axos Bank | 4.66% | $0 |
| Marcus by Goldman Sachs vs Bank of America | 0.01% | $100 |
| Marcus by Goldman Sachs vs Barclays | 4.10% | $0 |
| Marcus by Goldman Sachs vs Capital One | 3.50% | $0 |
| Marcus by Goldman Sachs vs Chase Bank | 0.01% | $0 |
| Marcus by Goldman Sachs vs Chime | 3.75% | $0 |
| Marcus by Goldman Sachs vs CIT Bank | 4.00% | $100 |
| Marcus by Goldman Sachs vs Discover Bank | 3.50% | $0 |
| Marcus by Goldman Sachs vs Fitness Bank | 5.00% | $100 |
| Marcus by Goldman Sachs vs Presidential Bank | 4.50% | $5,000 |
| Marcus by Goldman Sachs vs SoFi Bank | 3.80% | $0 |
| Marcus by Goldman Sachs vs Synchrony Bank | 3.80% | $0 |
| Marcus by Goldman Sachs vs Varo Bank | 5.00% | $0 |
Compare Wells Fargo's APY of 2.51% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Wells Fargo vs Ally Bank | 3.50% | $0 |
| Wells Fargo vs American Express | 3.60% | $0 |
| Wells Fargo vs Axos Bank | 4.66% | $0 |
| Wells Fargo vs Bank of America | 0.01% | $100 |
| Wells Fargo vs Barclays | 4.10% | $0 |
| Wells Fargo vs Capital One | 3.50% | $0 |
| Wells Fargo vs Chase Bank | 0.01% | $0 |
| Wells Fargo vs Chime | 3.75% | $0 |
| Wells Fargo vs CIT Bank | 4.00% | $100 |
| Wells Fargo vs Discover Bank | 3.50% | $0 |
| Wells Fargo vs Fitness Bank | 5.00% | $100 |
| Wells Fargo vs Presidential Bank | 4.50% | $5,000 |
| Wells Fargo vs SoFi Bank | 3.80% | $0 |
| Wells Fargo vs Synchrony Bank | 3.80% | $0 |
| Wells Fargo vs Varo Bank | 5.00% | $0 |