Update 5/4/23: Bonuses posting today for a lot of people. If you want to withdraw, just make sure you had the funds there for more than 90 days first.
Update 2/3/23: Today an email went out clarifying that the issue mentioned below was a technical error.
Update 2/1/23: A lot of people got an email today stating that they are ineligible for this promo, despite their having enrolled and met all the requirements. Multiple readers have confirmed with Marcus that this email was sent out in error, so assuming you did everything right you should be good to go. Presumably they’ll send follow-up correspondence confirming this in the coming days.
Offer at a glance
- Max Bonus Amount: $100
- Direct Deposit Required: No
- Additional Requirements: $10,000 deposit (new funds)
- Hard/Soft Pull: Soft pull
- Credit Card Funding: None
- Monthly Fees: None
- Availability: Nationwide, new or existing users
- Expiration Date: enroll by February 15, 2023 and fund within 10 days
- Insured: FDIC
The Offer
- New or existing Marcus by Goldman Sachs customers can enroll to be eligible for $100 bonus when depositing $10,000 in new funds within 10 days of enrollment and maintaining those funds plus your current balance for 90 consecutive days after the enrollment period.
You must enroll first. Do not enroll until you are ready to fund since you only get 10 days to fund starting from enrollment date.
The Fine Print
- Offer valid from 1/18/23 to 2/15/23 (“the Offer Period”).
- To qualify for the $100 Cash Bonus (the “Offer”), you must enroll a Marcus Online Savings Account (“Account”) in this Offer at https://www.marcus.com/us/en/savings/osa-savingsbonus or by calling Marcus at 1-855-730-SAVE (1-855-730-7283) by 11:59 pm ET on 2/15/23. Upon successful enrollment, you will receive a confirmation of your enrollment via email or U.S. mail.
- After enrolling, you must deposit $10,000 or more in new funds from an external account into your Account within 10 calendar days of enrollment (the “Funding Period”). The Account balance plus a minimum of $10,000 in new funds (the “Required Dollar Amount”) must be maintained in your Account for 90 consecutive days from the end of the Funding Period. The Account balance is based on the starting current balance reflected on your account at 12 am ET the day you enroll. Once the Funding Period has ended, your Account balance may not drop below the Required Dollar Amount at any point until after the 90 consecutive days have passed. You may make multiple deposits within the Funding Period to reach the Required Dollar Amount. Internal transfers do not count for purposes of this Offer.
- If you choose to enroll a different Marcus Online Savings Account in this Offer, you must deposit $10,000 or more in new funds from an external account into the newly enrolled Account within 10 calendar days of enrollment in this Offer, even if you reached the Required Dollar Amount in a previously enrolled account.
- The $100 bonus will be deposited into your enrolled Account within 14 calendar days after fulfilling the above requirements. To receive your bonus, your Account must be open and in good standing at the time the bonus is deposited in your Account. The bonus will be treated as interest for tax reporting purposes.
- Offer available to new and existing customers. Each customer is limited to one cash bonus under this Offer. This Offer can only be applied once to an account. If an Account has multiple owners, the Account is limited to being enrolled for this Offer under only one of the Account owners and receiving only one cash bonus. Remaining Account owners may be eligible to use another eligible Account to enroll in this Offer. This Offer may be combined with other promotional offers available to Marcus Online Savings Account customers.
- We reserve the right to modify or revoke this Offer at any time without notice. If we determine that you have engaged in or plan to engage in abuse or gaming in connection with this Offer, you will not be eligible for this Offer.
Our Verdict
Marcus offered a similar deal in March 2019, then in January 2020, then in January 2021, then in January 2022, and now in January 2023. They also offered a $500 deal in July 2019. It’s worth holding a Marcus account as the bonuses all seem to be for new or existing customers.
Locking up $10,000 for 90 days and getting $100 is a APY of roughly 4%, added to their regular 3.30% APY interest rate – at the time of this writing – for a total 7.30% return. See Best Savings Rates for comparison. Pretty nice offer, especially if you already have a Marcus account open. I plan on doing this one. We’ll add this to our list of Best Bank Bonuses.
You can always get an extra .10% APY from Marcus if you are an AARP member, and new Marcus members can sign up with a referral link and get an extra .50% APY for 3 months for a total 1.00% APY; that stacks nicely with the $100 bonus (this can stack on top of the AARP deal as well for 1.10% APY). Do not leave your referral link in the comments below, you can find links in this dedicated post (now closed to new comments).
Hat tip to reader NDrew
View Comments (702)
Anyone notice today (07/01/24) that the rate is showing as 4.4% even if you're still getting the 1% APR bump from referrals?
Maybe your referral rate is over? Only lasts three months, right?
can someone tell marcus their email system is broken. Me/P2/P3 have been sent the same email 12 times each now in the past 2 days lol
Marcus sent out an apology email today... @guest_1539024
Subj: We're sorry for the inconvenience
"It seems we sent duplicate emails in error…"
We made a mistake. Last week, due to a technical issue, we accidentally sent you duplicates of an email about our updated Deposit Account Agreement. We apologize.
We understand that you expect better from us and in this case, we let you down. We’re taking steps to make sure this doesn’t happen again.
Thank you for being a customer and allowing us to share in your savings journey.
It would be hilarious if that one shows up 11 times too.
I was wondering if it was just me. I got 11 emails just today. Make it stop.
Yep. Same. How many times can they tell me about the new wire policy?
Yup, same. Came to check.
Hmm, almost end of March, and no bonus for 2024? Guess shouldn't be surprised with the issues GS/Marcus was having with their consumer banking business.
I was wondering about the same - they have been running this since 4-5 years
Just pulled my 1099. It only has the interest earned and not the 'good will credit' on it.
Same
What was the "good will credit" for?
IIRC, last year there was that glitch that affected some to the point they didn’t automatically receive the bonus. After complaints, Marcus issued the bonus as a good will credit.
"They also offered a $500 deal in July 2019."
Oh man would be sweet to see the 1% offer this year
Although reading the past comments below I'm starting to think Marcus is not as good as idea as it sounds.
People having to file cfpb complaints just to get $100, Marcus not allowing withdrawals, locking accounts....sheesh
Unless they get their act together not gonna wade into these troubled waters
Again this year? Or not again this year. That is the question.
In the last 3 years, $100 Savings deposit bonus was offered like clock work - emailed on 3rd Wednesday in January. Not this round. Some people are getting CD offer instead:
"You know a good thing when you see it! Because you took advantage of a special offer in the past, we thought you’d like to know about our newest promotional CD term: a 14-Month High-Yield CD earning 5.40% APY.
Open an account today to get the benefits of our fixed-rate CD and grow your savings with a guaranteed return. Offer expires 4/17/24."
No such email here... And I've done the savings deposit bonuses in the past.
Got the same email, the public offer is 5.25% so not a huge jump for loyalty. :)
I assume they are going out in waves... but, thanks. I may or may not do it anyway.
@guest_1536888 @guest_1536853 quick update on this. The 5.40% is no longer available to me despite getting the email several weeks back. It's currently showing 5.25% now for the 14 month CD.
Also, I wouldn't give up just yet on the $100 bonus. In 2019, the bonus was offered March 4 - 18. Although unlikely it'll happen this soon, as banking sector is still hurting from high-rates.
https://www.doctorofcredit.com/marcus-goldman-100-bonus-for-new-existing-savings-customers-with-10000-deposit-2-25-apy/
Same for me after clicking on the link in one of the previously received emails. The 5.40% link opens as:
Special Promotional CD Term14-Month Term
5.25% APYhttps://www.marcus.com/content/dam/marcus/us/en/common/Info-Icon.png
Special Offer: Boost your savings with a special rate on our High-Yield CD. Lock in a fixed rate for a 14-month term with a guaranteed return on your money. APY may change before account is opened & funded. Promotional term expires 4/17/24.
Honestly, I'd still pass on 5.40% CD and roll 4,8 or 26 wks T-Bills via Schwab brokerage (currently in 5.34 - 5.41% range) to offset state taxes.
@ @guest_1536710 , @guest_1536888
I ran into the same thing but decided to let the CD renew at that 5.25, it actually renewed at 5.40. Go figure.
did that offer go out to targeted emails? sounds interesting
Yes, I received the offer via email.
Just had a goodwill credit post for the $100. Had given up on it after their system tossed it for going below my existing balance though not below the transfer requirements. Hopefully some other folks will be getting it/got it as well!
"Goodwill credit applied on your account" email received today - my bonus was messed up by the Feb interest payment and a small $1 withdrawal - I considered it my fault for not transferring a buffer and did not contact the bank. But apparently they thought I should get the bonus anyway.
Does anyone know if you could simply chat with someone from Marcus to give you the 1% APY Boost? I heard that someone did this and I’m unsure if you could do that.
For people who had problems with Marcus blocking/reversing their transfers out, did anyone initially deposit the money by pushing from an external bank into Marcus? (I'm wondering if the problems only happen in cases where the money was deposited by pulling into Marcus.)
I pushed from Sofi to Marcus. I'm sure of this because Sofi is not listed as an external account on Marcus's side.
Funnily enough, Marcus removed my Chase Biz account claiming that they can't verify ownership. This is after two months of my doing regular small transfers.
They are just a mess.
Marcus has an issue with biz accounts. Surprised you got two months of transfers.