Frequently Asked Questions | GS Bank

Frequently Asked Questions

Have questions? Take a look at our FAQs below to find the answers you need.

 

 

Top FAQs

Online

You can access your GS Bank Account in Online Banking through our secure Sign In with your Username and Password. The secure Sign In is located at the top right of every page on the site. If you did not register for Online Banking at the time of Account opening, simply register for access now.

24/7 Automated Phone System

Our automated phone system at 1-855-730-SAVE (7283) lets you check your balance, transfer funds, change or add beneficiaries and more. You will need your 4-digit banking PIN to access your Account.

Live Person

Please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT. If you are outside of the United States, call us at 1-319-841-5200.

You have the option to register for Online Banking at the time you open your GS Bank Account. If you did not register for Online Banking at the time of Account opening, simply register for access now.

What You Need to Do

To register for Online Banking, you will need to verify your information, including your GS Bank Account number.

You will also be asked to set up your Username, Password and Security Challenge Questions. As you open new GS Bank Accounts, they are automatically linked to Online Banking.

In the case of a joint Account, each Account Owner must register separately to protect his or her identity. Account Owner(s) should not share Usernames or Passwords.

To get started, you’ll need to register your external bank account with us. You can register up to four external accounts for electronic transfers. Please be ready to provide your external bank account and routing number when you register, and only register accounts owned by you. For security purposes, we’ll ask you to verify two trial deposits we make into your external account.

Sign In to Online Banking

Sign in to Online Banking and select Transfer Funds > Add External Account.

You have the option to register for Online Banking at the time you open your GS Bank Account. If you did not register for Online Banking at the time of Account opening, click here to register for access now, or click on Register for Online Banking in the upper right corner at GSBank.com.

How Trial Deposits Work

You can transfer money from an external account to your GS Bank Account, as long as your external account is a checking or savings account in the United States, and you are the primary Account Owner.

Before we are able to transfer funds from your external account, we’ll need to make some trial deposits to that account to verify you are the Account Owner.

Here’s how it works:

  • We’ll make two small trial deposits into your external bank account (such as $0.01 and $0.06)
  • Check your external account to verify the deposits are there. You’ll see them as credits
  • Sign In to GS Bank Online Banking
  • Return to the External Accounts page within 14 days and enter the trial deposit amounts to enable secure transfers between your GS Bank Account and your external bank account.

In Online Banking, you can:

  • Check balances
  • Track your recent transactions and deposits
  • Choose environmentally-friendly paperless statements to get your statements sooner
  • Transfer money online securely
  • Download your 1099-INT tax form
  • Manage your account profile and preferences, including mailing address, email address, password and more

You have the option of registering for Online Banking at the time you open your GS Bank Account. If you did not register for Online Banking at the time of Account opening, click here to register for access now, or click on Register for Online Banking in the upper right corner at GSBank.com.

You will need to know the GS Bank routing number in order to transfer money to and from other financial institutions. The GS Bank routing number is 1240-8526-0.

There are no transaction fees for GS Bank Accounts.

You will start to earn interest on the business day we receive your deposit. However, a minimum deposit of $1.00 is required to earn interest.

There are two ways you can withdraw money from your Online Savings Account through GS Bank:
  • Electronic Transfer: Transfer funds to domestic accounts you own at another financial institution that have been linked to your GS Bank Account and that we have verified are owned by you. You can also initiate an electronic transfer from another financial institution.
  • Wire Transfer: Send a domestic wire transfer to accounts you own at other financial institutions by calling us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT. Wires requested after 3pm CT will be considered received on the next business day. In most circumstances, we will only allow a transfer of funds from your Account at GS Bank to an account you own at another financial institution. It may take one (1) to three (3) business days to process your request. Wire transfers are subject to our wire transfer security procedures. You will need to provide the GS Bank Routing Transit Number, the wire transfer address and your Account number.

  • Routing Transit Number (RTN): 1240-8526-0
    Wire Transfer Address: Goldman Sachs Bank USA
      200 West Street
      New York, NY 10282

There is a limit of six withdrawals or transfers in a monthly statement period from Online Savings Accounts.

Note: There is an outgoing transfer limit of $125,000 per transfer when the transfer is initiated online. If you need to withdraw more than $125,000, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

There are four ways you can add money to your Online Savings Account:

  • Transfer funds between your GS Bank Accounts and external bank accounts that have been linked in Online Banking.
  • Make direct deposit payments (Online Savings Accounts only). You can deposit all or part of your payroll or Social Security directly into your GS Bank Online Savings Account. For payroll, simply provide your employer with the GS Bank routing number (1240-8526-0) and your Savings Account number to enable your employer to deposit funds directly into your Account. For Social Security benefits, you can go to the Social Security Administration website to schedule your direct deposit.
  • Send a domestic wire transfer from another bank. You will need to provide the GS Bank Routing Transit Number and your Account number.

    Routing Transit Number (RTN): 1240-8526-0
    Wire Transfer Address: Goldman Sachs Bank USA
      200 West Street
      New York, NY 10282
  • Send a check by U.S. mail (please don’t send cash).
  • Goldman Sachs Bank USA
    PO Box 4571
    Carol Stream, IL 60197-4571

    Please make the check payable to your name (make sure the name is the same as on the Account) or Goldman Sachs Bank USA. Please endorse the back of any check with the words "For Deposit Only" and include your Account number.

Customer Deposit Limits

Legacy Accounts: For Account owners with Accounts established on or before April 15, 2016 (“Legacy Account Owner”), the maximum amount of money on deposit for all of your individual and joint deposit Accounts combined may not exceed $3,000,000 (not including interest earned and credited but not withdrawn) per Account owner, with a $1,000,000 (not including interest earned and credited but not withdrawn) per Account maximum.

New Accounts: For Account owners solely holding Accounts opened after April 15, 2016, the maximum amount of money on deposit for all of your individual Accounts combined may not exceed $250,000 (including interest earned and credited but not withdrawn) per Account owner and may not exceed $250,000 (including interest earned and credited but not withdrawn) per Account owner for joint Accounts, for a combined maximum Account balance of $500,000 (including interest earned and credited but not withdrawn) per Account owner.

Calculation of Limits

Legacy Accounts: For purposes of calculating the maximum aggregate deposit balance permissible, for each Legacy Account Owner and in each Account, deposit balances include principal deposited in all Accounts (i.e., Online Savings and CD Accounts) held by the same Account owner at GS Bank.

New Accounts: For purposes of calculating the maximum aggregate deposit balance permissible, for each Account owner and in each Account, deposit balances include (i) all Accounts (i.e., Online Savings and CD Accounts) held by the same Account owner at GS Bank and (ii) principal plus interest earned and credited but not withdrawn.

Return of Funds. In the event that the Account balances exceed the applicable maximum aggregate limits by greater than or equal to $1,500 (or such lesser amount as determined by the Bank in its sole discretion), the Account owner authorizes GS Bank to return the full excess deposit balances to the Account owner(s).

See Deposit Account Agreement for details about Customer Deposit Limits.

There is a 10-day grace period during which you may renew or close your CD, or make any changes to your CD’s term or amount. The grace period begins on the CD maturity date and runs for ten days (maturity date plus nine calendar days). To make changes or close your CD, please call us at 1-855-730-SAVE (7283) during the 10-day grace period. 

If you do not contact us by the end of the 10-day grace period, your CD will automatically renew at the same term and amount. Your CD will receive the highest interest rate we offer for the same CD product and term available during the 10-day grace period, and a confirmation will be sent verifying the renewal terms.

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General FAQs

General

 

Marcus by Goldman Sachs, a brand of Goldman Sachs Bank USA, helps consumers manage their debt through personal loans with fixed rates, no fees and flexible payment options. Marcus by Goldman Sachs also provides consumers with financial education and tools to help manage their loans. For information about Marcus by Goldman Sachs, visit Marcus.com or call 1-844-MARCUS1 (1-844-627-2871) Monday to Saturday from 7 am – 9 pm E.T.

Online Banking

 

Online

You can access your GS Bank Account through our secure Sign In with your Username and Password. The secure Sign In is located at the top right of every page on the site. If you did not register for Online Banking at the time of Account opening, simply register for access now.

24/7 Automated Phone System

Our automated phone system 1-855-730-SAVE (7283) lets you check your balance, transfer funds, change or add beneficiaries and more. You will need your 4-digit banking PIN to access your Account.

If you need to reset your 4-digit banking PIN, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

Live Person

Please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT. If you are outside of the United States, call us at 1-319-841-5200.

You have the option to register for Online Banking at the time you open your GS Bank Account. If you did not register for Online Banking at the time of Account opening, simply register for access now.

What You Need to Do

To register for Online Banking, you will need to verify your information, including your GS Bank Account number.

You will also be asked to set up your Username, Password and Security Challenge Questions. As you open new GS Bank Accounts, they are automatically linked to Online Banking.

Each Account owner must register separately to protect his or her identity. Account owner(s) should not share Usernames or Passwords.

If you forget your Username or Password, click here. If you are still unable to Sign in, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

If you have forgotten your 4-digit banking PIN, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

At GS Bank, we make it a priority to protect your privacy and safeguard your account information. That’s why we’ve implemented a variety of technologies to keep your Account secure.

GS Bank uses multi-factor authentication to help us verify your identity. Multi-factor authentication ensures that only you have access to your Account.

The connection between your computer or mobile device and GSBank.com is protected with encryption provided by Secure Sockets Layer (SSL) technology, and is further enhanced by using an Extended Validation SSL Certificate (EV SSL) to provide you assurance that you are communicating only with GS Bank.

You can learn more about these technologies in our Security Center.

To change your Username, Sign in to Online Banking, and click Security Information on the Profile/Preferences menu at the top of your screen. On the Security Information page, click Edit to change your Username. 

To change your Password, Sign in to Online Banking, and click Security Information on the Profile/Preferences menu at the top of your screen. On the Security Information page, click Edit to change your Password. 

To change your Secret Word, Sign in to Online Banking, and click Security Information on the Profile/Preferences menu at the top of your screen. On the Security Information page, click Edit to change your Secret Word. 

To change your PIN, Sign in to Online Banking, and click Security Information on the Profile/Preferences menu at the top of your screen. On the Security Information page, click Edit to change your PIN. 

To change your Security Challenge Questions, Sign in to Online Banking, and click Security Information on the Profile/Preferences menu at the top of your screen. On the Security Information page, click Edit to change your Security Challenge Questions.

Statements

 

Account Owners can enroll in paperless statements for all Accounts. With respect to joint Accounts, only primary Account owners may enroll in paperless statements initially. If you selected eSign when you opened your Account, you are automatically enrolled in paperless statements. You can change your statement preferences by calling us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

Sign in to Online Banking. Your statements can be found under the Statement/Account Activity tab.

Statements are sent out on a monthly basis and include the previous month’s activity.

You will start to earn interest on the business day we receive your deposit. However, a minimum deposit of $1.00 is required to earn interest.

Interest is calculated using the daily balance method. This method applies a daily periodic rate to the principal and interest that has accrued in the Account each day. This means that the interest from your Account is calculated every day on a 365 day year/366 day for leap years. Interest begins to accrue on the business day that we receive your deposit. 

Deposits and Withdrawals

 

There are four ways you can fund your Account and/or add money to your Online Savings Account:

  • Transfer funds between your GS Bank Accounts and external bank accounts that have been linked in Online Banking.

    For information about transfer limits to external accounts, go to the FAQ “How much money can I transfer via ACH from my external account into my Account at GS Bank?”
  • Make direct deposit payments (Online Savings Accounts only). You can deposit all or part of your payroll or Social Security benefits directly into your GS Bank Online Savings Account. For payroll, simply provide your employer with the GS Bank routing number (1240-8526-0) and your Online Savings Account number to enable your employer to deposit funds directly into your Account. For Social Security benefits, you can go to the Social Security Administration website to schedule your direct deposit.
  • Send a domestic wire transfer from another bank. You will need to provide the GS Bank Routing Transit Number, the wire transfer address and your Account number.

    Routing Transit Number (RTN): 1240-8526-0
    Wire Transfer Address: Goldman Sachs Bank USA
      200 West Street
      New York, NY 10282
  • Send a check by U.S. mail (please don’t send cash).
  • Goldman Sachs Bank USA
    PO Box 4571
    Carol Stream, IL 60197-4571

    Please make the check payable to your name (make sure the name is the same as on the Account) or Goldman Sachs Bank USA. Please endorse the back of any check with the words "For Deposit Only" and include your Account number.

Customer Deposit Limits

Legacy Accounts: For Account owners with Accounts established on or before April 15, 2016 (“Legacy Account Owner”), the maximum amount of money on deposit for all of your individual and joint deposit Accounts combined may not exceed $3,000,000 (not including interest earned and credited but not withdrawn) per Account owner, with a $1,000,000 per Account maximum.

New Accounts: For Account owners solely holding Accounts opened after April 15, 2016, the maximum amount of money on deposit for all of your individual Accounts combined may not exceed $250,000 (including interest earned and credited but not withdrawn) per Account owner and may not exceed $250,000 (including interest earned and credited but not withdrawn) per Account owner for joint Accounts, for a combined maximum Account balance of $500,000 (including interest earned and credited but not withdrawn) per Account owner.

Calculation of Limits

Legacy Accounts: For purposes of calculating the maximum aggregate deposit balance permissible, for each Legacy Account Owner and in each Account, deposit balances include principal deposited in all Accounts (i.e., Online Savings and CD Accounts) held by the same Account owner at GS Bank.

New Accounts: For purposes of calculating the maximum aggregate deposit balance permissible, for each Account owner and in each Account, deposit balances include (i) all Accounts (i.e., Online Savings and CD Accounts) held by the same Account owner at GS Bank and (ii) principal plus interest earned and credited but not withdrawn.

Return of Funds: In the event that the Account balances exceed the applicable maximum aggregate limits by greater than or equal to $1,500 (or such lesser amount as determined by the Bank in its sole discretion), the Account owner authorizes GS Bank to return the full excess deposit balances to the Account owner(s).

See Deposit Account Agreement for details about Customer Deposit Limits.

Online Savings

There are two ways you can withdraw money from your Account through GS Bank:

  • Electronic Transfer: Transfer funds to domestic accounts you own at another financial institution that have been linked to your GS Bank Account and that we have verified are owned by you. You can also initiate an electronic transfer from another financial institution. 
  • Wire Transfer: Send a domestic wire transfer to accounts you own at other financial institutions by calling us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT. Wires requested after 3pm CT will be considered received on the next business day. In most circumstances, we will only allow a transfer of funds from your Account at GS Bank to an account you own at another financial institution. It may take one (1) to three (3) business days to process your request. Wire transfers are subject to our wire transfer security procedures. You will need to provide the GS Bank Routing Transit Number, the wire transfer address and your Account number.

    Routing Transit Number (RTN): 1240-8526-0
    Wire Transfer Address: Goldman Sachs Bank USA
      200 West Street
      New York, NY 10282

There is a limit of six withdrawals per statement cycle from Online Savings Accounts.

Note: There is an outgoing transfer limit of $125,000 per transfer when the transfer is initiated online. If you need to withdraw more than $125,000, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

Certificates of Deposit

You may not make a withdrawal of principal prior to maturity without penalty, except in limited situations. An early withdrawal of principal, without penalty, is allowed only in the event of death or the judicial or administrative determination of legal incompetence of an owner. The interest you earn on your CD will be credited to your CD. If you’d prefer, you can transfer the monthly interest earned to your GS Bank Savings Account or to one of your linked external bank accounts. You also have the option to withdraw penalty-free any interest credited to your account at any time during the term of the CD. Please call us at 1-855-730-SAVE (7283) to set up interest disbursement.

Beneficiaries

 

You may add up to six beneficiaries to each account. A beneficiary must be an individual; you may not name a trust or other entity as a beneficiary. To add or remove a beneficiary, Sign in to Online Banking, select “Profile and Preferences,” and then select Beneficiary Management from the drop down. You can also call us toll free at 1-855-730-SAVE (7283).

We will need the following information when adding beneficiaries:

  • Beneficiary name
  • Beneficiary date of birth
  • Beneficiary Social Security Number
  • Beneficiary address
  • Beneficiary phone number

Trust Accounts

 

At this time, GS Bank Online Banking is not offering trust accounts.

At this time, GS Bank Online Banking is not offering custodial accounts.

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General Questions

 

GS Bank is an FDIC member, so FDIC coverage is automatic for GS Bank deposits, up to the coverage limits. Our customers are not required to apply for, or request coverage.

However, to ensure your funds are fully protected, it’s important to understand your deposit insurance limits. These coverage limits refer to the aggregate of all deposits that an Account Owner (or Account Owners) has in each ownership category at the same FDIC-insured bank.

The FDIC provides separate insurance coverage for deposits held in different ownership categories. The most common categories are single accounts and joint accounts.

FDIC Deposit Insurance Coverage Limits for Accounts at GS Bank

Ownership Category Limit
Single Accounts:
owned by one person
$250,000 per owner
Joint Accounts:
owned by two or more persons
$250,000 per co-owner

For more information about FDIC insurance coverage, including limits by account ownership category, download the Deposit Insurance Summary guide or the comprehensive Your Insured Deposits guide from the FDIC website.

The FDIC also provides consumers with the Electronic Deposit Insurance Estimator (EDIE) , an online tool you can use to calculate your actual FDIC insurance coverage.

 

The Annual Percentage Yield (APY) reflects both the total amount of interest to be paid on the Account, plus the accrued compounded interest the Account would earn during the 365/366-day period—simply put, APY is the projected interest earned if the Account is untouched for the year. More frequent compounding leads to more earned interest. GS Bank compounds interest daily. 

An interest rate reflects the simple interest to be paid on the account for the period of one year. The Annual Percentage Yield (APY) reflects both the total amount of interest to be paid on the account, plus the accrued compounded interest the account would earn during the 365/366-day period—in other words, the total interest earned if the account remained untouched for the year. Annual Percentage Yield Earned (APYE) is similar to APY, but it is the actual amount of interest earned rather than the projected amount earned.

A 1099-INT form is used to report interest income earned to the Internal Revenue Service (IRS). You will need this form to do your taxes.

We will send your 1099-INT tax forms between January 7th and January 31st. In the case of a joint account, the forms will be mailed to the primary Account owner’s mailing address. If you are registered for Online Banking, you can also download your 1099-INT form by clicking on Statements/Activity > Tax Forms.

Please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT if you do not receive your 1099-INT by February 15th.

GS Bank does not charge fees for sending or receiving wire transfers, however, other third parties may charge fees for sending wire transfers to GS Bank or receiving wire transfers from GS Bank.

Sign In to Online Banking and schedule transfers at your convenience—holidays and weekends included. Transfers will be processed on the next available business day.  If we are unable to verify the ownership of a linked account, we will notify you that your transaction may be delayed or restricted.  If you have any questions, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

GS Bank’s business days are Monday through Friday excluding federal holidays. Wire transfer requests made after 3:00 pm CT or ACH transfer requests made after 5:00 pm CT Monday through Friday or on Saturday, Sunday and federal holidays shall be considered received on the next business day.

Yes. Reach your savings goals sooner by setting up recurring deposits. We’ll automatically transfer funds from your linked accounts and deposit them into your GS Bank Online Savings Account. Just select the frequency and timing for your deposits, and you’re on your way. Sign In to Online Banking to set up recurring transfers.

We require a Signature Card when you open an Account via phone and when you do not choose the eSign option when opening an Account online. If you opened your Account online and chose the eSign option, we captured your electronic signature and, therefore, this will serve as your Signature Card.

There are no transaction fees for GS Bank accounts.

To find your Account number, you can Sign in to Online Banking and view your Accounts. You can also refer to your monthly statement or call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

To change your mailing address, phone number or email address, Sign in to Online Banking, and click My Profile on the Profile/Preferences menu at the top of your screen. On the My Profile page, enter your new information. Or, call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT. We will send you a confirmation that your address or email address has been changed.

To ensure we properly close your Account, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

If you feel that there is an error on your statement, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.  You may also write to us at Goldman Sachs Bank USA, PO Box 1978, Cranberry Twp., PA  16066.

Online Banking is free, fast, and secure. Sign In and get started today.

You can transfer money from an external account to your GS Bank Account, as long as your external account is a checking or savings account in the United States, and you are the primary account owner.

Before we are able to transfer funds from your external account, we’ll need to make some trial deposits to that account. Trial deposits help us verify you are the account owner and help us link your external account to your GS Bank Account.

Here’s how it works:

  • We’ll make two small trial deposits into your external bank account (such as $0.01 and $0.06).
  • Check your external account to verify the deposits are there. You’ll see them as credits.
  • Sign In to GS Bank Online Banking.
  • Return to the External Accounts page within 14 days and enter the trial deposit amounts to enable secure transfers between your GS Bank Account and your external bank account.

If you opened your Account online, we captured your electronic signature and, therefore, this will serve as your Signature Card. If you called us to open an Account, and did not choose to eSign, please return your Signature Card as soon as possible. If you do not return your Signature Card, we may restrict withdrawals from your Account. In addition, without a signed Signature Card, we are required by law to begin backup withholding of interest earned after 30 days of opening your Account.

Please mail your deposit to:

Goldman Sachs Bank USA
PO Box 4571
Carol Stream, IL 60197-4571

Please make the check payable to your name (make sure the name is the same as on the Account) or Goldman Sachs Bank USA. Please endorse the back of any check with the words “For Deposit Only” and include your Account number.

Please visit the FDIC website (fdic.gov) to obtain GS Bank’s financial statements. GS Bank’s certificate number is 33124.

A “Power of Attorney” is a legal document that gives someone, known as an “attorney-in-fact,” the power to take certain actions in your place. We will not allow an attorney-in-fact to open an Account on your behalf. After you have opened an Account, at our discretion and subject to applicable law, upon submission of a Power of Attorney, we may grant an attorney-in-fact access to your Account. Please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT for more information.

No, at this time we do not transfer funds internationally—only domestically.

There are two ways you can withdraw money from your Account through GS Bank:

  • Electronic Transfer: Transfer funds to domestic accounts you own at another financial institution that have been linked to your GS Bank Account and that we have verified are owned by you. You can also initiate an electronic transfer from another financial institution.
  • Wire Transfer: Send a domestic wire transfer to accounts you own at other financial institutions by calling us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT. Wires requested after 3pm CT will be considered received on the next business day. In most circumstances, we will only allow a transfer of funds from your Account at GS Bank to an account you own at another financial institution. It may take one (1) to three (3) business days to process your request. Wire transfers are subject to our wire transfer security procedures. You will need to provide the GS Bank Routing Transit Number, the wire transfer address and your Account number.

    Routing Transit Number (RTN): 1240-8526-0
    Wire Transfer Address: Goldman Sachs Bank USA
      200 West Street
      New York, NY 10282

There is a limit of six withdrawals or transfers in a monthly statement period from Online Savings Accounts.

Note: There is an outgoing transfer limit of $125,000 per transfer when the transfer is initiated online. If you need to withdraw more than $125,000, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

Customer Deposit Limits

Legacy Accounts: For Account owners with Accounts established on or before April 15, 2016 (“Legacy Account Owner”), the maximum amount of money on deposit for all of your individual and joint deposit Accounts combined may not exceed $3,000,000 (not including interest earned and credited but not withdrawn) per Account owner, with a $1,000,000 (not including interest earned and credited but not withdrawn) per Account maximum.

New Accounts: For Account owners solely holding Accounts opened after April 15, 2016, the maximum amount of money on deposit for all of your individual Accounts combined may not exceed $250,000 (including interest earned and credited but not withdrawn) per Account owner and may not exceed $250,000 (including interest earned and credited but not withdrawn) per Account owner for joint Accounts, for a combined maximum Account balance of $500,000 (including interest earned and credited but not withdrawn) per Account owner.

Calculation of Limits

Legacy Accounts: For purposes of calculating the maximum aggregate deposit balance permissible, for each Legacy Account Owner and in each Account, deposit balances include principal deposited in all Accounts (i.e., Online Savings and CD Accounts) held by the same Account owner at GS Bank.

New Accounts: For purposes of calculating the maximum aggregate deposit balance permissible, for each Account owner and in each Account, deposit balances include (i) all Accounts (i.e., Online Savings and CD Accounts) held by the same Account owner at GS Bank and (ii) principal plus interest earned and credited but not withdrawn.

Return of Funds. In the event that the Account balances exceed the applicable maximum aggregate limits by greater than or equal to $1,500 (or such lesser amount as determined by the Bank in its sole discretion), the Account owner authorizes GS Bank to return the full excess deposit balances to the Account owner(s).

See Deposit Account Agreement for details about Customer Deposit Limits.

At GS Bank, we take your security seriously. When you request a wire transfer or set up a linked account to electronically transfer money, we will confirm your ownership of the external account to which you have requested your money be sent.  If we are unable to verify your ownership of the account, we will notify you that your transaction may be restricted.  If you have any questions, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

Electronic Transfers & Wire Transfers
If you make a deposit before 5:00 p.m. CT on a business day that we are open, we will consider that day to be the day of your deposit. If you make a deposit after 5:00 pm CT or on a day that we are not open, we will consider that the deposit was made on the next business day.

Funds from electronic deposits that you have initiated through us will generally be available for withdrawal on the third business day after the day GS Bank receives the deposit from the paying institution. Funds from electronic deposits to your account that you initiated through a person other than us and wire transfers will generally be available on the same day we receive the deposit.

Check Deposits by Mail
Funds from check deposits to your Account will be available on the first business day after the day we receive the deposit, provided GS Bank reserves the right to delay deposit by check for a longer period of time. Funds deposited by check may be delayed under the following circumstances:

  • You deposit a single or multiple checks totaling more than $5,000 on any one day
  • You redeposit a check that has been returned unpaid
  • GS Bank believes a check you deposit will not be paid
  • There is an emergency, such as failure of computer or communications equipment

If such action is taken to delay funds, the funds will generally be available no later than the sixth business day after the day of your deposit.

Special Rules for New Customers:
If you are a new customer, the following special rules will apply during the first 30 days after your account is open:

  • Funds deposited by cashier’s, certified, teller’s and government checks in excess of $5,000 will be available on the sixth business day after the day of your deposit.
  • Funds from all other check deposits, regardless of amount, will be available on the sixth business day after the day of your deposit.

We only accept individuals as Pay-on-Death beneficiaries for your Accounts. You may not name a trust or other entity as beneficiary. Please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT for more information.

At this time, GS Bank does not offer a debit card or ATM card for our Online Savings Account. You can access the funds in your account by electronic transfer to your account at another bank or via wire transfer. 

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Online Savings FAQs

No, there is no minimum deposit required to open an Online Savings Account. If you fail to fund your Account within 60 days of Account opening, GS Bank may consider your Account closed. 

There are four ways you can add money to your Account:

  • Transfer funds between your GS Bank Accounts and external bank accounts that have been linked in Online Banking.
  • You can direct deposit payments, for example all or part of your payroll or Social Security benefits, directly into your GS Bank Online Savings Account. For payroll, simply provide your employer with the GS Bank routing number (1240-8526-0) and your Account number to enable your employer to deposit funds directly into your Account. For Social Security benefits, you can go to the Social Security Administration website to schedule your direct deposit.
  • Send a domestic wire transfer Routing Transit Number, wire transfer address and your Account number.

    Routing Transit Number (RTN): 1240-8526-0
    Wire Transfer Address: Goldman Sachs Bank USA
      200 West Street
      New York, NY 10282
  • Send a check by U.S. mail (please don't send cash).
  • Goldman Sachs Bank USA
    PO Box 4571
    Carol Stream, IL 60197-4571

    Please make the check payable to your name (make sure the name is the same as on the account) or Goldman Sachs Bank USA. Please endorse the back of any check with the words “For Deposit Only” and include your Account number.

Sign In to Online Banking to access and manage your Account online.

In Online Banking, you can:

  • Check balances
  • Track your recent transactions and deposits
  • Choose environmentally-friendly paperless statements to get your statements sooner
  • Transfer money online securely
  • Download your 1099-INT tax form
  • Manage your Account profile and preferences, including mailing address, email address, password and more.

You have the option to register for Online Banking at the time you open your first GS Bank Account. If you did not register for Online Banking at the time of Account opening, simply register for access now.

There are no transaction fees at GS Bank.

There are two ways you can withdraw money from your Online Savings Account through GS Bank:
  • Electronic Transfer: Transfer funds to domestic accounts you own at another financial institution that have been linked to your GS Bank Account and that we have verified are owned by you. You can also initiate an electronic transfer from another financial institution.
  • Wire Transfer: Send a domestic wire transfer to accounts you own at other financial institutions by calling us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT. Wires requested after 3pm CT will be considered received on the next business day. In most circumstances, we will only allow a transfer of funds from your Account at GS Bank to an account you own at another financial institution. It may take one (1) to three (3) business days to process your request. Wire transfers are subject to our wire transfer security procedures. You will need to provide the GS Bank Routing Transit Number, the wire transfer address and your Account number.

  • Routing Transit Number (RTN): 1240-8526-0
    Wire Transfer Address: Goldman Sachs Bank USA
      200 West Street
      New York, NY 10282

There is a limit of six withdrawals or transfers in a monthly statement period from Online Savings Accounts.

Note: There is an outgoing transfer limit of $125,000 per transfer when the transfer is initiated online. If you need to withdraw more than $125,000, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

There is a limit of six withdrawals or transfers in a monthly statement period from Online Savings Accounts.

There is an outgoing transfer limit of $125,000 per transfer when the transfer is initiated online. If you need to withdraw more than $125,000, please call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

Note: We may change our transfer limit policies at any time without prior notice, unless required by law.

Customer Deposit Limits

Legacy Accounts: For Account owners with Accounts established on or before April 15, 2016 (“Legacy Account Owner”), the maximum amount of money on deposit for all of your individual and joint deposit Accounts combined may not exceed $3,000,000 (not including interest earned and credited but not withdrawn) per Account owner, with a $1,000,000 (not including interest earned and credited but not withdrawn) per Account maximum.

New Accounts: For Account owners solely holding Accounts opened after April 15, 2016, the maximum amount of money on deposit for all of your individual Accounts combined may not exceed $250,000 (including interest earned and credited but not withdrawn) per Account owner and may not exceed $250,000 (including interest earned and credited but not withdrawn) per Account owner for joint Accounts, for a combined maximum Account balance of $500,000 (including interest earned and credited but not withdrawn) per Account owner.

Calculation of Limits

Legacy Accounts: For purposes of calculating the maximum aggregate deposit balance permissible, for each Legacy Account Owner and in each Account, deposit balances include principal deposited in all Accounts (i.e., Online Savings and CD Accounts) held by the same Account owner at GS Bank.

New Accounts: For purposes of calculating the maximum aggregate deposit balance permissible, for each Account owner and in each Account, deposit balances include (i) all Accounts (i.e., Online Savings and CD Accounts) held by the same Account owner at GS Bank and (ii) principal plus interest earned and credited but not withdrawn.

Return of Funds. In the event that the Account balances exceed the applicable maximum aggregate limits by greater than or equal to $1,500 (or such lesser amount as determined by the Bank in its sole discretion), the Account owner authorizes GS Bank to return the full excess deposit balances to the Account owner(s).

See Deposit Account Agreement for details about Customer Deposit Limits.

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Certificate of Deposit FAQs

There are three ways you can add money to your Account:

  • Transfer funds between your GS Bank Accounts and external bank accounts that have been linked in Online Banking.
  • Send a domestic wire transfer from another bank. You will need to provide the GS Bank Routing Transit Number, wire transfer address and your Account number.

    Routing Transit Number (RTN): 1240-8526-0
    Wire Transfer Address: Goldman Sachs Bank USA
      200 West Street
      New York, NY 10282
  • Send a check by U.S. mail (please don’t send cash).
  • Goldman Sachs Bank USA
    PO Box 4571
    Carol Stream, IL 60197-4571

    Please make the check payable to your name (make sure the name is the same as on the account) or Goldman Sachs Bank USA. Please endorse the back of any check with the words “For Deposit Only” and include your Account number.

Note: If GS Bank does not receive funds within 30 days of opening your CD, GS Bank may consider your Account closed.

GS Bank’s 10-day CD Rate Guarantee ensures you get the highest interest rate we offer during the ten-day period starting on the day you open your Account, provided you fund your CD during this 10-day period.

The interest you earn on your CD will be added to the principal balance of your CD. If you’d prefer, you can transfer the monthly interest earned to your GS Bank Online Savings Account or to one of your linked external bank accounts. You also have the option to withdraw penalty-free any interest credited to your account at any time during the term of the CD. Please call us at 1-855-730-SAVE (7283) to set up interest disbursement. 

We will send you a Maturity Notice before your CD’s maturity date. There is a 10-day grace period during which you may renew or close your CD, or make any changes to your CD’s term or amount. The grace period begins on the CD maturity date and runs for ten days (maturity date plus nine calendar days). To make changes or close your CD, please call us at 1-855-730-SAVE (7283) during the 10-day grace period.

If you do not contact us by the end of the 10-day grace period, your CD will automatically renew at the same term and amount. Your CD will receive the highest interest rate we offer for the same CD product and term available during the 10-day grace period, and a confirmation will be sent verifying the renewal terms.

Yes. Sign in to Online Banking and the maturity date will be displayed in the CD Account details page.

Yes, you will receive a confirmation when your CD automatically renews. The confirmation will be sent out after the 10-day grace period concludes.

You will not receive a certificate for your CD. However, we will send you a confirmation letter ten days after we have received your opening deposit. This confirmation is your official record, so please save it for your reference.

There are no transaction fees at GS Bank.

A CD ladder is a group of CDs with varying maturity dates. CD ladders allow you to take advantage of favorable interest rates and maintain access to your money more frequently than with a single, long-term CD. Click here for more information about CD laddering, or call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT.

To build a CD ladder, simply open a combination of GS Bank CDs with varying maturity dates.

For example: If you have $20,000 to invest over four years, you would open a 1-, 2-, 3-, and 4-year CD and fund with $5,000 each. At the end of each term, you would renew the maturing CDs into a new 4-year CD. By choosing to ladder, you are able to take advantage of potentially higher long-term rates.

Call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT to learn more.

Funds can only be added to existing CDs during the grace period at maturity. However, you can open a new CD at any time. Please Sign in or call us toll free at 1-855-730-SAVE (7283) Monday through Friday, 7am to 11pm CT to get started.

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