Marcus does not offer joint savings accounts
Marcus by Goldman Sachs only allows individual account holders. You cannot open a savings account in two names, and you cannot add another person as a co-owner to an existing Marcus account. If you need a savings account that two people can both access and control, you will need to use a different bank.
This is a hard limit, not a policy that changes by state or account type. Every Marcus savings product — their standard high-yield savings account, money market accounts, and CDs — follows the same rule: one person per account.
The reason Marcus maintains this structure is operational. Goldman Sachs built Marcus as a streamlined online bank with minimal overhead, which means fewer account types and simpler account management. Joint accounts require additional verification steps, more complex ownership documentation, and different rules around account closure and fund access if one owner dies or the relationship ends. Marcus chose not to build that infrastructure.
Key Takeaways
- Marcus savings accounts are individual only; you cannot open or maintain a joint account with another person.
- Two people can each open separate Marcus accounts and coordinate their savings, but neither person can access the other's account.
- If you need true joint access, you will need a checking or savings account from a traditional bank that offers joint accounts.
- Some couples use separate Marcus accounts for individual savings goals while keeping a joint account elsewhere for shared expenses.
- Marcus accounts remain in the individual account holder's name even if a spouse or partner contributes money to them.
Why couples use separate Marcus accounts instead
Many couples keep their savings split across multiple banks. One partner might use Marcus for a high-yield savings account because of the interest rate, while the other uses a traditional bank's joint account for household expenses. This approach works when each person has separate savings goals or when one partner is the primary saver.
The limitation matters most when you need both people to be able to withdraw money without asking permission. If you are saving for a shared goal — a vacation, a down payment, an emergency fund — and either person might need to access the money, Marcus will not work as your only account. You would need a joint account elsewhere.
If you are in a relationship and one of you wants to save money in Marcus while the other manages household finances elsewhere, that is workable. Just understand that the Marcus account belongs to whoever opened it, and the other person has no legal claim to it and cannot withdraw from it.
Banks that do offer joint savings accounts
Most traditional banks and credit unions offer joint savings accounts. These include Chase, Bank of America, Wells Fargo, Ally Bank, Discover Bank, and most regional and local banks. Credit unions typically offer joint accounts as well, and many have competitive interest rates on savings.
The trade-off is that joint accounts at these institutions usually pay lower interest rates than Marcus does on its high-yield savings account. As of now, Marcus's rate is significantly higher than the national average for savings accounts, but rates change. If you need joint access, you may have to accept a lower return on your savings.
Some online banks other than Marcus do offer joint accounts — Ally Bank and Discover Bank both do — though their rates may still be lower than Marcus's current rate. Check the current rates at any bank you are considering, because rates shift frequently and what is true today may not be true in six months.
What happens if you try to add someone to your Marcus account
You cannot add a co-owner or authorized user to a Marcus account after it is opened. The account process process does not offer this option, and Marcus customer service cannot add someone retroactively. If you opened an account and later decided you wanted someone else to have access, that is not possible within Marcus.
If you want to move money to a joint account, you can transfer funds from Marcus to a joint account at another bank. Marcus allows transfers to external accounts, and the process typically takes one to three business days. You would then close the Marcus account if you no longer need it, though there is no penalty for keeping it open.
How to structure savings if you are married or in a partnership
One common approach is to keep a joint account at a traditional bank for shared expenses and household savings, while each partner maintains individual accounts — including Marcus accounts — for personal savings or goals. This gives you the flexibility of higher interest rates on individual savings while maintaining joint access to money you both need.
Another approach is to choose one partner's Marcus account as the household savings vehicle, with the understanding that the other partner cannot directly access it. The account owner would need to transfer money out if the other person needs it. This works if one person is the primary money manager, but it creates a dependency if that person becomes unavailable.
If you are saving toward a specific shared goal — like a vacation or home repair — and you want both people to be able to withdraw without asking, you need a joint account elsewhere. Marcus is not the right tool for that particular goal, even if it is the right tool for other savings.
Whether to keep money in Marcus if you are not the account owner
If your spouse or partner has a Marcus account and you are contributing money to it, understand that the account legally belongs to them. You have no ownership stake, and if the relationship ends, you have no claim to the funds. The money is theirs to keep or spend as they choose.
This is true of any account in one person's name, whether it is at Marcus or anywhere else. Contributing money to someone else's account is a gift unless you have a written agreement that says otherwise. If you are saving toward a shared goal, a joint account protects both of you by making clear that you both own the money.
If you are in a long-term relationship and you are regularly contributing to your partner's savings account, consider having a conversation about whether a joint account would be more appropriate. It is not romantic to avoid the conversation — it is practical.
Frequently Asked Questions
Can my spouse use my Marcus account if I give them my password?
Technically yes, but it is not recommended. Sharing login credentials violates Marcus's terms of service, and if something goes wrong — unauthorized transfers, account disputes, or account closure — Marcus will not help resolve it because the account is in your name only. If you want your spouse to have access, you need a joint account at a different bank.
What if I die — does my spouse get my Marcus account?
Your Marcus account becomes part of your estate and goes through probate or passes according to your will or beneficiary designation. Marcus does allow you to name a beneficiary on your account, which means the funds can pass directly to that person without going through probate. You can update your beneficiary in the Marcus app or by calling customer service.
Can I open a Marcus account for my child?
No. Marcus requires account holders to be at least 18 years old. If you want to save money for a minor, you would need to open an account in your own name or use a custodial savings account at a bank that offers them.
If I have a Marcus account, can I set up automatic transfers to a joint account?
Yes. You can set up recurring transfers from your Marcus account to a joint account at another bank. This is a common way to move money from a high-yield savings account into a joint account for household expenses. The transfer typically takes one to three business days.
Does Marcus offer any account type that two people can share?
No. All Marcus accounts — savings accounts, money market accounts, and CDs — are individual only. If you need shared access to savings at Marcus's interest rates, that is not possible. You would need to choose between Marcus (individual only) or a joint account elsewhere (lower rates).