Venmo + Marcus by Goldman Sachs

[Anonymous]

Hey all,

I just opened a savings account at Marcus by Goldman Sachs and I am having difficulty connecting it to VenMo. I called in and the representative seemed clueless (already a bad sign in regards to this new relationship), so I was curious if anyone else was able to successfully add their Marcus by Goldman Sachs account to Venmo. I get an error with both the manual and instant verification methods and I don't know if it's just because the account is new.

[Anonymous]

Nevermind, it looks like Goldman Sachs is intentionally not compatible with Venmo since they launched their own direct competitor to Venmo.

[CBartowski]

I was thinking maybe because its a high interest savings account? I have 2 and both have restrictions that I can't directly take money out other than moving to a checking and couldn't link mine either for that reason.

[Anonymous]

I called Marcus and was told that, as of now, none of the Marcus accounts will be compatible with Venmo or any other similiar app and will only be compatible with Circle Pay.

Try linking your venmo to your other savings accounts; as long as it is a major bank it works (at least all of mine did except Marcus). If you google "Marcus and Venmo" you will see articles saying Goldman Sachs is trying to compete with Venmo with their own payment service so that sort of substantiated what the rep was saying so I gave up and linked my Schwab account instead 

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@CBartowski wrote:

I was thinking maybe because its a high interest savings account? I have 2 and both have restrictions that I can't directly take money out other than moving to a checking and couldn't link mine either for that reason.

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