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Goldman Sachs

Financials

62

out of 100. Number 105 of 512, counting from the worst.

  • Arbitration 15 of 20, bad
  • Renewals 8 of 20
  • Data sharing 14 of 20, bad
  • Price & terms 10 of 15
  • Data retention 9 of 15
  • Other findings 6 of 10

Where Goldman Sachs does well

  • The forced-arbitration clause comes with a real opt-out: you can reject it by phone or mail within 90 days of account opening — many banks offer no opt-out at all.
  • No service charges or maintenance fees for the account, no minimum deposit to open or to earn the APY — the product itself is genuinely fee-free as marketed.
  • Under the CCPA section they state they do not 'sell' personal information, do not share with nonaffiliates for marketing, and do not knowingly sell/share data of minors under
  • CDs auto-renew but come with a 30-day advance maturity notice, a 10-day penalty-free grace period, and the ability to give an 'Early Instruction' up to 12 months ahead — far less trap-like than many CD programs.
  • The GLBA notice lists state-law carve-outs: Vermont customers get extra limits on affiliate creditworthiness sharing, and California residents get extra nonaffiliate sharing limits.

If you open a Marcus account you give up your right to sue in court or join a class action — unless you call or write within 90 days of opening to opt out.

The fine print

8 clauses and findings from the draft archive, dated 1 October 2026. The plain English comes first; the small print is the company's own words. None of these has been checked yet.

  1. If you open a Marcus account you give up your right to sue in court or join a class action — unless you call or write within 90 days of opening to opt out. Miss the window and arbitration is mandatory and individual-only.

    SECTION XII REQUIRES CLAIMS TO BE ARBITRATED AND FORBIDS CLASS ACTIONS UNLESS YOU EXERCISE YOUR RIGHT TO REJECT ARBITRATION UNDER SECTION XII.5. BY PHONE OR MAIL WITHIN NINETY (90) DAYS AFTER ACCOUNT OPENING.

    Marcus Deposit Account Agreement (Effective June 27, 2025), cover notice

  2. No class actions, no group arbitration — every dispute is one customer versus the bank, one at a time, which makes systemic problems (like rate or fee issues) far harder to challenge collectively.

    If either party elects to resolve a claim by arbitration, that claim will be arbitrated on an individual basis. There will be no right or authority for any claims to be arbitrated on a class action basis, in a representative capacity, on behalf of the general public, other Account owners, or other persons.

    Marcus Deposit Account Agreement (Effective June 27, 2025), Section XII.6

  3. The bank can rewrite the rules whenever it wants; the new terms bind you the moment they are posted. You only get advance notice if the law happens to require it — otherwise your only escape is closing the account yourself.

    We may change the terms of this Agreement from time to time, and the revised agreements will supersede all prior versions. Any changes will be binding on you when we make the revised Agreement available to you. If we are required by law to provide you with advance notice and you do not agree with a change, you may close your Account before the effective date.

    Marcus Deposit Account Agreement (Effective June 27, 2025), Section X.1

  4. Goldman can freeze or close your Marcus account for any reason — or no reason at all — without telling you first. Your recourse is limited to getting your remaining balance mailed back to you.

    We may restrict your access or use of an Account, or close your Account, at any time and for any reason, without notice or consent.

    Marcus Deposit Account Agreement (Effective June 27, 2025), Section V.8

  5. Your personal data is shared for the bank's own marketing and for joint marketing with other financial companies — and federal law gives you no way to opt out of that. Sharing continues even after you close your account.

    For our marketing purposes — to offer our products and services to you: Yes [shared], No [can't limit]. For joint marketing with other financial companies: Yes [shared], No [can't limit]. For our affiliates' everyday business purposes — information about your transactions and experiences: Yes [shared], No [can't limit]. When you are no longer our customer, we continue to share your information as described in this notice.

    Marcus / Goldman Sachs Bank USA Consumer Privacy Notice (GLBA), FACTS notice rev. 11/18

  6. Your identity and browsing data are handed to ad partners for targeted advertising. The 'opt out' is a cookie on your browser — clear your cookies and the opt-out disappears. Your browser's Do Not Track signal is ignored outright.

    We may share, and may have shared in the preceding 12 months, Personal Information from the 'Personal Identifiers,' 'Device and Online Identifiers and Related Information,' and 'Internet, Application, and Network Activity' categories of Personal Information with advertising and marketing partners to facilitate the delivery and measurement of cross-context behavioral advertising.

    Goldman Sachs US Privacy Policy, Section 9 (Selling and Sharing)

  7. Closing your account doesn't end their use of your data. Retention periods are described only as 'varying time periods depending on our relationship with you' — no fixed deletion timeline is promised.

    If your relationship with us ends, we will continue to treat your Personal Information as described in this Privacy Policy or as set forth in the applicable privacy notice.

    Goldman Sachs US Privacy Policy, Section 3

  8. If you owe the bank money on anything, it can help itself to funds in any of your Marcus accounts — including joint accounts where others contributed the money — without asking first.

    You grant us a security interest in any and all of your Accounts with us to secure payment of any money that you owe to us... You acknowledge and grant us the right to take funds from any of your Accounts with the Bank or our affiliates to cover any money you owe to us (referred as 'right of setoff').

    Marcus Deposit Account Agreement (Effective June 27, 2025), Section X.2

How these were found

Documents read directly via browser_open on the official domains on 2026-10-01: Marcus Deposit Account Agreement effective June 27, 2025 (http://marcus.com/content/dam/marcus/us/en/pdfs/Marcus_Deposit_Account_Agreement.pdf); Marcus/GS Bank GLBA consumer privacy notice rev. 11/18 (https://www.marcus.com/content/dam/mosaic/shared/pdf/GLBA.pdf); Goldman Sachs US Privacy Policy (https://www.goldmansachs.com/privacy-and-cookies/us-privacy-policy). Caveat: the GLBA notice hosted on marcus.com is rev. 11/18 and may not reflect the most recent sharing choices; the newer Marcus FACTS statement (rev. 01/2025) seen in search snippets lists broadly similar sharing but was read only via a search-result snippet, not the full document. A scribd mirror of Apple Card terms (not Marcus) was seen for context only and not cited. Dates of 'Last Updated' on crawled search results differ from document effective dates.

These notes come from the original draft and are not independent verification.