After doing some reading on here and other places, I have decided to open an online savings account with Marcus by Goldman Sachs.

I've created an account but am a bit wary of transferring a large (for me) sum of money into the account from my savings account over the internet.

Should I be concerned at all or is this perfectly safe?

Good to know!

A bit scary considering I had someone recently wire their down payment for their house to scammer.

Did you do an internet transfer?

I guess I don't know how else you would do it lol. Just a bit skiddish about it.

Yeah you just go on Marcus and enter your account info. They make a minimal deposit in your checking account to verify they've got the right account info, and once you verify the amount they deposited, they withdraw that amount, and you are free to move money back and forth via Marcus' website. It takes about 2 days for funds to go each way.

Good deal. Thank you much!

Doesn't look like there's an app for it, which is a bummer.

mrmill3218 said:

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Did you do an internet transfer?

I guess I don't know how else you would do it lol. Just a bit skiddish about it.

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It's safe, old man. Don't worry about it

mrmill3218 said:

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Doesn't look like there's an app for it, which is a bummer.

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If you're on an iphone, open it in safari, click on the button with the box and arrow at the bottom middle of your screen, and slide the grey buttons over to 'Add to Home Screen.' It'll add an app button. If you've got FaceID and password saver enabled, it'll run just like an app.

Just transferred fifty bucks to test.

Appreciate the responses!

I want to hear more a out the scam

it probably started with a call from an IRS agent with a very, very strong Indian (the foreign kind) accent

Pretty common over the last few years:

https://www.forbes.com/sites/alyyale/2019/05/07/real-estate-wire-fraud-is-real-and-it-almost-happened-to-me/

Diggity said:

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Pretty common over the last few years:

https://www.forbes.com/sites/alyyale/2019/05/07/real-estate-wire-fraud-is-real-and-it-almost-happened-to-me/

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That CertID program it mentioned is just going to become more commonplace. All of my bank accounts have secure message portals on their website's that they share important information through. The only emails I get are to check the portal.

I could see a system almost like Microsoft Teams or Slack where the lender, agents and title company are all in the same secure 'group chat' to pass documents around and keep sensitive dates and times private.

Also, the initial target on your back is an agent putting the house as pending on the market. Wouldn't be surprised to see that feature modified potentially to 'agent only' viewing.