Marcus by Goldman Sachs vs Varo Bank
Head-to-head comparison of Marcus Online Savings Account and Varo Savings Account, updated daily.
Varo Bank currently wins on APY: 5.00% vs 3.65%
| Feature | Marcus by Goldman SachsLive | Varo BankUpdated 1d ago |
|---|---|---|
| APY | 3.65% | 5.00%★ |
| Min opening deposit | $0 | $0 |
| Min balance for APY | $0 | $0 |
| Monthly fee | $0.00 | $0.00 |
| Insurance | FDIC | FDIC |
| Compounding | daily | daily |
| ATM access | No | Yes★ |
| Check writing | No | No |
| Mobile app | Yes | Yes |
| Editor rating | 4.5 / 5★ | 4.2 / 5 |
Marcus by Goldman Sachs verdict
Marcus is the conservative choice. It does not have the absolute highest APY on the market, but it is consistently within the top tier and is backed by one of the most established financial institutions in the world. For savers who prioritize stability over chasing rates, this is our recommended option.
Read full Marcus by Goldman Sachs review →Varo Bank verdict
Varo offers the highest headline APY on our list, but the conditions are strict: you need direct deposit, qualifying debit card spend, and the rate only applies to the first $5,000. For users who can meet those conditions on a small emergency fund, Varo is mathematically the best option. For larger balances, look elsewhere.
Read full Varo Bank review →