The bottom line
- Goldman Sachs Bank USA is best for setting aside cash to earn interest
- There’s no checking account, ATM network or mobile app
- You need an external account for transferring money, so expect delays when making any transaction
|Certificates of deposit (CDs)|
Here are more details about the bank’s savings account, CDs and customer experience.
Goldman Sachs Bank savings
5.0 / 5.0
Goldman Sachs Bank USA, created after Goldman Sachs bought General Electric Co.’s GE Capital Bank in 2015, gets top marks as a spot to park your money at a high savings rate. The downside? Transferring money into or out of your account can take a few days. That’s because it doesn’t offer a way to withdraw cash or deposit checks via an ATM or a mobile app. Having an external bank account, such as a checking, savings or money market account elsewhere, is the main way to move money in to and out of a Goldman Sachs account, but you can also set up direct deposits.
Goldman Sachs Bank CDs
5.0 / 5.0
Goldman Sachs Bank CD rates are among the best. Using one of the bank’s CDs is a better option than its savings account for longer-term goals. You can choose a term from six months to six years and get a solid return. A few other banks have higher CD rates, but Goldman Sachs’ rates are highly competitive.
2.5 / 5.0
Since there’s no mobile app or branch network, your main way to interact with the bank and your accounts is online and by phone. For questions, there’s a comprehensive FAQs section on the website, and you can call customer support on weekdays or submit a message via a form online.
Boosts savings but lacks convenience
Updated June 1, 2017.
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, customer experience and overdraft fees.
Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation.
The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.