Yes, Marcus savings accounts are FDIC insured up to $250,000 per depositor per bank

Marcus by Goldman Sachs is a member of the Federal Deposit Insurance Corporation (FDIC), which means your money in a Marcus savings account is protected by federal insurance. If Marcus fails, the FDIC will reimburse you for your balance up to $250,000. This protection applies to each depositor separately — if you and your spouse each have accounts, you each get $250,000 of coverage.

The FDIC insurance covers the full balance in your Marcus savings account, money market account, and certificates of deposit (CDs). It does not cover investment products or other services Marcus may offer outside of deposit accounts. The coverage is automatic — you do not need to sign up or pay a fee for it.

Marcus is insured under FDIC Certificate Number 2036, which you can verify on the FDIC's official bank search tool at banks.fdic.gov. This certificate confirms Marcus's status as an insured institution and shows which products are covered.

Key Takeaways

  • Marcus savings accounts, money market accounts, and CDs are covered by FDIC insurance up to $250,000 per depositor.
  • The $250,000 limit applies separately to each person — joint account holders and account owners with different ownership categories each receive their own $250,000 of coverage.
  • FDIC insurance is automatic and costs you nothing; you do not need to register or take any action to be covered.
  • You can verify Marcus's FDIC status and insurance coverage limits on the FDIC's bank search tool using their certificate number 2036.

How the $250,000 limit works for different account types

The FDIC counts each account category separately when calculating your coverage. If you have a Marcus savings account in your name alone and a joint savings account with your spouse, the FDIC insures each one up to $250,000. Your solo account is covered to $250,000, and the joint account is also covered to $250,000, for a total of $500,000 in coverage across both accounts.

If you have multiple accounts in the same category — for example, two separate savings accounts both in your name — the FDIC adds them together and covers the combined total up to $250,000. So if you have a $150,000 savings account and a $120,000 savings account, both in your name, the FDIC covers only $250,000 of the combined $270,000.

Retirement accounts (IRAs, SEP-IRAs, and similar accounts) have their own $250,000 coverage limit separate from your regular deposit accounts. A retirement account at Marcus is insured independently, so you could have $250,000 in a regular savings account and another $250,000 in a Marcus IRA.

What happens if Marcus fails

If Marcus were to fail, the FDIC would step in and either transfer your account to another FDIC-insured bank or send you a check for your balance up to $250,000. The FDIC has a track record of completing this process quickly — in recent bank failures, depositors received their money within days to a few weeks. You would not lose access to your funds for an extended period.

The FDIC maintains a reserve fund specifically for this purpose, so the insurance does not depend on the government's annual budget. The fund is built from insurance premiums that banks like Marcus pay based on the size and risk profile of their deposits.

What is not covered by FDIC insurance

FDIC insurance covers deposit accounts only — savings accounts, checking accounts, money market accounts, and CDs. It does not cover stocks, bonds, mutual funds, or other investment products, even if you purchase them through Marcus. If Marcus offers any brokerage or investment services, those are not FDIC insured.

FDIC insurance also does not cover losses from fraud, theft, or unauthorized transactions. If someone steals your login credentials and drains your account, the FDIC does not reimburse you. However, Marcus and your bank have separate fraud protections and dispute processes that may recover your money — those are separate from FDIC insurance.

Safe deposit boxes and their contents are not FDIC insured either. If Marcus offers safe deposit services, the contents are your responsibility to insure separately.

How to verify Marcus's FDIC status

You can confirm that Marcus is FDIC insured by visiting banks.fdic.gov and searching for "Marcus" or using their certificate number 2036. The search tool will show you Marcus's official name (Goldman Sachs Bank USA), location, and which products are covered under their insurance certificate.

The FDIC website also displays the current insurance limits and any special coverage categories that apply to Marcus accounts. This is the official source — do not rely on third-party websites or Marcus's own marketing materials as your only verification.

What to do if your balance exceeds $250,000

If you have more than $250,000 to deposit, you have several options. You can open accounts at other FDIC-insured banks to spread your money across multiple institutions, each covered up to $250,000. You can also use different account ownership categories at Marcus — for example, a solo account, a joint account, and a retirement account — to increase your total coverage.

Some people use a service called IntraFi (formerly Promontory Interbank Network) that automatically moves portions of your deposit across multiple FDIC-insured banks to maximize coverage. Marcus does not offer this service directly, but you could move money to a bank that does if you need coverage beyond $250,000.

Another option is to purchase a CD ladder or money market account at a different institution. The key is to understand that FDIC coverage is per bank, not per account type — spreading your money across multiple banks is the most straightforward way to protect balances over $250,000.

Frequently Asked Questions

Does FDIC insurance cover my Marcus savings account if I have a joint account with someone else?

Yes. A joint account is insured separately from individual accounts. If you and another person own a joint Marcus savings account, the FDIC covers that account up to $250,000. Each person's individual account at Marcus is also covered up to $250,000 separately, so you could have $250,000 in a joint account and $250,000 in a solo account.

What if I have a Marcus savings account and a Marcus CD — are they both covered?

Yes. Both are covered up to $250,000 each, as long as they are in the same ownership category (for example, both in your name alone). If you have a $200,000 savings account and a $100,000 CD, both in your name, the FDIC covers the combined $300,000 up to the $250,000 limit — so you would lose $50,000 of coverage.

If Marcus gets bought by another bank, do I lose FDIC insurance?

No. FDIC insurance continues regardless of ownership changes or mergers. If another bank acquires Marcus, your account would be insured by the FDIC under the acquiring bank's certificate. The transition might change your interest rates or account terms, but your insurance protection does not disappear.

Does FDIC insurance cover money I lose to fraud or a scam?

No. FDIC insurance protects you if the bank fails, not if someone steals your money or tricks you into sending it. If your account is compromised, contact Marcus immediately to report fraud. Marcus and your bank have separate fraud dispute processes that may recover your money, but those are not FDIC insurance.

Can I check my FDIC coverage amount online?

You can verify that Marcus is FDIC insured and see the coverage limits on the FDIC website, but Marcus does not provide a tool to calculate your personal coverage amount. You can use the FDIC's online calculator at fdic.gov to estimate your coverage based on your account balances and ownership categories.