Marcus By Goldman Sachs vs Wells Fargo
High-Yield Savings Accounts Comparison
Last Updated: August 29, 2025
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Summary of Marcus by Goldman Sachs vs. Wells Fargo
As of August 29, 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.
In addition, Wells Fargo also offers 0.01% APY for the Way2Save Savings account.
Marcus by Goldman Sachs
Strengths
- Marcus by Goldman Sachs offers a competitive APY of 3.65% with no minimum deposit.
- Marcus has an A+ BBB rating, indicating strong trustworthiness.
- Marcus has a high App Store rating of 4.8.
Potential Drawbacks
- Marcus does not have physical branches for in-person banking.
- Marcus does not offer a tiered savings account structure.
Wells Fargo
Strengths
- Wells Fargo provides access to branches and ATMs in 36 states and D.C.
- Wells Fargo has a high Google Play rating of 4.8.
Potential Drawbacks
- Wells Fargo's highest APY of 2.51% requires a $1,000,000 balance.
- Wells Fargo has an F BBB rating and is not accredited.
- Wells Fargo's Way2Save Savings account offers a low APY of 0.01%.
Summary: Marcus by Goldman Sachs offers a higher APY of 3.65% with no minimum balance, while Wells Fargo's highest APY of 2.51% requires a substantial balance. Additionally, Marcus has a strong A+ BBB rating, contrasting with Wells Fargo's F rating. However, Wells Fargo provides physical branches, which may appeal to customers preferring in-person banking. Overall, Marcus is better for high-yield savings, while Wells Fargo offers branch access.
Compare Marcus by Goldman Sachs' vs Wells Fargo's Savings Accounts
| Marcus by Goldman Sachs | Wells Fargo | |||
|---|---|---|---|---|
| Product | Marcus Online Savings Account | vs | Way2Save Savings | Platinum Savings |
| APY | 3.65% (as of 8/29/2025) | 0.01% (as of 8/29/2025) | 0.05% - 2.51% (as of 8/29/2025) | |
| Bundled Account | No | No | Yes | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | No | No | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $25 | $25 | |
| Minimum Balance for APY | $0 | $0 | $1,000,000 | |
| Maintenance Fee | $0 | $5. Waived under some circumstances. | $12. Waived with $3,500 minimum daily balance. | |
| Direct Deposit Required | No | No | No | |
| Note | 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. | |||
| App Store Rating | 4.8/5 | 4.9/5 | ||
| Google Play Rating | 4.1/5 | 4.8/5 | ||
| BBB Rating | A+ | F | ||
Comparative Historical APY Insights (Last 2 Months)
| Marcus by Goldman Sachs | Wells Fargo | |||
|---|---|---|---|---|
| Product | Marcus Online Savings Account | vs | Platinum Savings | Way2Save Savings |
| Latest APY | 3.65 % | 2.51 % | 0.01 % | |
| Trend | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | 0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | 0.00 | |
| Days Since Last Change | 48 | 47 | 48 | |
| High (-2 m) | 3.65 % | 2.51 % | 0.01 % | |
| Low (-2 m) | 3.65 % | 2.51 % | 0.01 % | |
| Draw-down from High | 0.0 % | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 | 0.000 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 2 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-2 m)
- Highest APY in the last 48 days.
- Low (-2 m)
- Lowest APY in the last 48 days.
- Draw-down from High
- How far today sits below the 2-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
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: $2,209.7 (10.93%)
- Total contributions: $13,000 (64.33%)
- Initial deposit: $5,000 (24.74%)
Your total balance
$20,209.70
Effective APY: 3.65% (based on your deposit and contributions)
Total balance: $20,209.7
Earnings: $2,209.7
Bank OverviewWells Fargo
APY: 2.51%
⚠️The higher APY only applies once your balance reaches $1,000,000.
Total savings breakdown:
- Interest earned: $28.6 (0.16%)
- Total contributions: $13,000 (72.11%)
- Initial deposit: $5,000 (27.73%)
Your total balance
$18,028.60
Effective APY: 0.05% (based on your deposit and contributions)
Total balance: $18,028.6
Earnings: $28.6
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Marcus by Goldman Sachs's total earnings would be $2,181.1 higher than Wells Fargo's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
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 | 3.50% | $0 |
| Marcus by Goldman Sachs vs Axos Bank | 4.46% | $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 | 4.85% | $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 UFB Direct | 4.21% | $5000 |
| 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 | 3.50% | $0 |
| Wells Fargo vs Axos Bank | 4.46% | $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 | 4.85% | $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 UFB Direct | 4.21% | $5000 |
| Wells Fargo vs Varo Bank | 5.00% | $0 |