Both Marcus by Goldman Sachs and Discover Online Savings Account are strong contenders for a high-yield savings account. Marcus offers a slightly higher APY, while Discover provides the convenience of a linked checking account and mobile check deposit. The best choice depends on individual needs and priorities. If a slightly higher APY is the main concern, Marcus is preferable. If mobile check deposit and a linked checking account are important, Discover is a better choice.
| Attribute | Marcus by Goldman Sachs High-Yield Savings Account | Discover Online Savings Account |
|---|---|---|
| Annual Percentage Yield (APY) | 3.65% as of June 19, 2025 (may change) | 3.60% as of June 19, 2025 (may change) |
| Minimum deposit to open | $0 | No minimum deposit |
| Monthly maintenance fees | $0 | No monthly maintenance fees |
| FDIC Insurance | Yes, up to $250,000 | FDIC-insured up to the maximum amount allowed by law (generally $250,000 per depositor, per account ownership category) |
| Compounding frequency | Daily, credited monthly | Compounded daily and credited monthly |
| Mobile app availability | Yes, iOS and Android | Yes, for Android and iPhone |
| Online accessibility | Yes | Yes |
| Customer service availability | 24/7 by phone (855-730-7283) or chat | 24/7 U.S.-based customer service (1-800-347-7000, secure messaging/live chat) |
| Withdrawal options | ACH transfer, wire transfer, check | Transfers to Discover or external accounts, outgoing wire transfers ($30 fee) |
| Balance tiers for APY | Not applicable; a single APY applies to all balances | 3.60% APY applies to all balances |
| Linked checking account options | Marcus doesn't offer a checking account | Discover Cashback Debit account |
| Automatic savings programs | Information not found | Eligible for Discover's overdraft protection service |
| Mobile check deposit | No | Yes |
| Wire transfer fee | Not available | $30 fee for outgoing wire transfers |