Trial deposits are one way we can link your account at another bank and verify that you have access to that account. (The other option is Instant linking. See the FAQ “How do I link an external account?” for instructions.) Manual linking with trial deposits can take up to three business days.

Here’s how to link an account using trial deposits:

1.    Log in and select ”My account > External Accounts,” then click ‘Add Account’

2.    Enter your external bank's routing number and account number.

3.    In 2-3 business days, Goldman Sachs Bank USA will make two small deposits (for example, $0.23 and $0.17 – your amounts may be different) into your external bank account. We’ll send you an email when the trial deposits have been deposited.

4.    Log in to your external bank’s website or app (or call your external bank). Please allow up to 3 business days.

5.    View your external bank account’s activity or transaction history and locate the two small deposits from Goldman Sachs Bank USA. Make a note of the amounts.

6.    Come back to marcus.com, log in and select ‘My account > External Accounts.’ Please do this within 14 days or your Trial Deposits will expire and you’ll need to start over.

7.    Click ‘Verify trial deposit’ alongside your pending external bank account

8.    Enter the two trial deposit amounts you noted from your external bank account. (You can enter them in any order, but be sure to enter the numbers exactly as they appear in your transaction history.)

9.    Click ‘Submit’ and your new account will be linked.

Later, Marcus will send a request to the account-holding depository institution to withdraw the trial deposit amounts. The withdrawal may appear as a single debit from your external account. For example, if the trial deposit amounts were $0.11 and $0.14, you may see one debit transaction of $0.25 or two debit transactions of $0.14 and $0.11.

Give us a call if you have any difficulties linking your external account using trial deposits.

When linking an external account with trial deposits, Goldman Sachs Bank USA makes two small deposits into your external bank account to help verify your ownership of the account. Later, Marcus also sends a request to withdraw the same amounts. The withdrawal may appear as a single debit from your external account. For example, if the trial deposit amounts were $0.11 and $0.14, you may see one debit transaction of $0.25 or two debit transactions of $0.14 and $0.11. Please note: If you see the debit transaction(s) but not the deposit amounts, check with your external bank to see why the trial deposit amounts did not appear in your account.

Our tracker makes it easy to follow transfers whenever you set them up from within your Marcus deposit account.

Here’s how it works:

1. You schedule the transfer
2. We create the tracker
3. We add a “track my transfer” link to your dashboard

You’ll see information including the date it’s scheduled for and when we expect your funds to arrive. The link will disappear three days after we expect the transfer to be completed, but the transfer will appear in your transaction history.

Yes. You can set up recurring and scheduled transfers to and from your Online Savings Account.  Log in to your account to select the frequency and timing for your deposits, and you’re on your way.

We do not charge fees for sending or receiving ACH or wire transfers; however, your external bank or other third parties may charge fees for sending or receiving transfers to or from your Marcus deposit account.

Transfers are processed on business days only, excluding weekends and holidays. However, you can log in to your account and schedule transfers to or from an external linked account at your convenience—holidays and weekends included. However, transfers will not be processed until the next available business day. Log in to your account any time—holidays and weekends included—to schedule a transfer to or from an external linked account.

No, at this time we do not transfer funds internationally. You may only transfer funds to banks located in the U.S., in certain U.S. territories (U.S. Virgin Islands and American Samoa), or in/on a U.S. military base or diplomatic facility.

At Marcus, we take your security seriously. When you request a wire transfer or set up a linked account to electronically transfer money, we may take certain steps to confirm your access to the external account to which you have requested your money be sent, or call you back to confirm the transfer is authorized. If we are unable to complete the required steps, we will not be able to complete your transfer.

For more information, see our Deposit Account Agreement

Marcus will process ACH transfers of $1,000,000 or less made through Marcus by 12 pm ET on a business day, by 5 pm ET that day. For outgoing transfers, check with your external bank regarding availability of funds sent by Marcus. For incoming transfers, you’ll start earning interest on the transfer amount the day your request is received. All transfers are subject to conditions that may delay funds, such as transfers made in connection with an account closing. 

There is an outgoing ACH transfer limit of $125,000 per ACH transfer when the transfer is initiated online. If you need to withdraw more than $125,000, please give us a call, 24 hours a day / 7 days a week.

When available, when you request a wire transfer online before 4 pm ET, the transfer will generally be processed within one hour. If you request a wire transfer online after 4 pm ET, the wire transfer will be processed the next business day.

When you request a wire transfer by phone or via chat, the transfer will generally be processed within 3 business days. If you request a wire transfer by phone or chat after 4 pm ET, the wire transfer will be considered to be received the next business day.

For all wire transfers, funds may take longer to become available at your external bank. Contact your external bank with any questions about availability.

See the FAQ “What are ACH and wire transfer limits?” for more information

At this time, we are only able to send wire transfer requests to an account that you own at another bank. We are not able to send or make payments to a third party. Wire transfers requested online may only be sent to your previously-linked external account.

Delayed Availability

We may delay the availability of funds from your check deposits and certain other types of deposits for all accounts. During the delay, even though you may not withdraw funds and may not use the funds, in accordance with the provisions of the Deposit Account Agreement, interest will be paid on deposits we receive.

If we receive a deposit before 6 pm ET on a business day, we will consider that business day to be the day of your deposit. If we receive a deposit after 6 pm ET or on a non-business day, we will consider that the deposit was made on the next business day.

ACH Transfers

Funds from ACH transfers that you initiated through us from a linked external account will generally be available five business days after you initiate the ACH transfer, but may be available earlier. Funds from ACH transfers to your account that you initiated through another bank will generally be available on the business day we receive the deposit.

Note: For incoming transfers initiated through Marcus, if you request a transfer before 6 pm ET on a business day, you’ll start earning interest on that day. Otherwise, you’ll start earning interest on the next business day. Funds will remain subject to Marcus’ funds availability rules.

Wire Transfers

Funds from wire transfers that you initiate through another bank to your deposit account will be available on the business day we receive the deposit.

Internal Transfers between Marcus Deposit Accounts

When you transfer funds from one of your accounts at Marcus to another of your accounts at Marcus, the funds will be available immediately.

Check Deposits

Special Checks:

For US Treasury checks or other government checks, and certified, teller and cashier’s checks, up to $5,525 will be available the next business day after the day of your deposit and the remainder will be available on the sixth business day after the day of your deposit, unless an exception applies.

Other Checks:

For all types of checks other than Special Checks, up to $225 will be available the next business day after the day of your deposit and the remainder, up to $5,525, will be available the second business day after the day of your deposit, unless an exception applies or you are a “New Customer” (see below for special rules for New Customers).

Exceptions:

Funds you deposit by check may be delayed for a longer period if:

• You deposit a single or multiple checks totaling more than $5,525 on any one day
• We believe a check you deposit will not be paid
• There is an emergency, such as failure of computer or communications equipment

We will notify you if we delay your ability to withdraw funds for any of the above reasons and we will tell you when the funds will be available. Funds will generally be available no later than the sixth business day after the day of your deposit.

Special Rules for New Customers

You are generally considered a New Customer during the first 30 days after you open your first Marcus deposit account. For New Customers depositing all types of checks other than Special Checks, up to $225 will be available the next business day after the day of deposit, and the remainder will be available on the sixth business day after the day of your deposit, unless an exception applies.

To authorize the deposit of funds directly into your Marcus account, provide your employer with your Marcus account number and the Goldman Sachs Bank USA routing number for your type of account:  

Online Savings Account Routing Number: 1240-8526-0 

No, there is no minimum deposit to open an Online Savings Account. However, if you don’t fund your account within 60 days of account opening, we may close your account

We do not charge fees for transfers to or from your Online Savings Account. However, your external financial institution may charge you a fee.

At this time, there is no limit to the number of withdrawals or transfers you can make from your Online Savings Account.

You will start to earn interest on the business day we receive your deposit.

No minimum balance is required in your Online Savings Account. However, if you don’t maintain a positive balance for sixty (60) days, we may close your account.

If you feel that there is an error on your Online Savings Account statement, please give us a call at 1-855-730- 7283, 24 hours a day / 7 days a week. Outside the US, call us at 1-212-357-0026.

You may also write to us at:

Goldman Sachs Bank USA,
PO Box 70379
Philadelphia, PA 19176-0379.  

To close your Online Savings Account, go to your Account Detail page, click on the three dots menu in the upper right and select ‘Close this account’. You’ll be asked to choose an account to transfer your balance to (another Marcus account or your linked account at another bank). If you’d like to transfer to multiple accounts, or if you’d like us to mail you a check, please give us a call to close your account at 1-855-730- 7283. We’re available 24 hours a day / 7 days a week.

The minimum deposit is $500.

If your Marcus CD account reaches the $500 minimum deposit within 10 days of the day you open your Marcus CD account (opening day plus 10 days), you will receive the highest published interest rate and Annual Percentage Yield (APY) we offer on the Marcus CD product and term you selected during that period, starting on your account opening date and extending for 10 days. This only applies to Marcus branded CD products.

If your Marcus CD account does not reach the $500 minimum deposit within 10 days of the day you open your account, your rate will be the interest rate and APY available for your Marcus CD product and term on the day your Marcus CD account reaches the $500 minimum deposit.

The interest you earn on your CD account will automatically be added to the principal balance of your CD account each month. Alternatively, you have the option to withdraw any earned interest on your CD account, penalty-free. You can transfer the monthly interest earned to your Online Savings Account, or to one of your linked external bank accounts. Please give us a call or chat with us, 24 hours a day / 7 days a week, to set up an interest disbursement.

We will notify you before your CD’s maturity date. There is a 10-day grace period following your CD’s maturity date, during which you have a few options:

• withdraw balance without penalty;
• renew your CD with the same term; or
• close your CD and open a new one with a different term.

If you do not contact us within the 10-day grace period to take any action, your CD account will automatically renew for another term.

The renewal term will begin (retroactively) on the day after the maturity date of the previous CD term. The principal balance for the renewal term will be the total balance in the CD account (principal plus the interest that was not previously withdrawn) on the date the CD account is renewed. Your CD account will receive the highest interest rate and APY we offer for the same CD product and term available during the 10-day grace period. A confirmation will be sent verifying the renewal terms.

Yes. Log in and the maturity date will be displayed on your account information page.

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

You will not receive a certificate for your CD account. However, we will send you a confirmation 10 days after we have received your opening deposit. This confirmation is your official record, so please save it for your reference.

You are not permitted to withdraw a portion of your principal at any time prior to maturity. If you withdraw the entire principal amount from your CD account prior to maturity, you will be charged an early withdrawal penalty based on the term of your CD account and the principal, except in the case of a No-Penalty CD.

The applicable early withdrawal penalties are as follows:

The early withdrawal penalty is calculated as follows: Divide the CD’s interest rate by 365 (366 in a leap year), multiply by the number of days in the table above and then multiply by the CD’s original principal balance. 

Early Withdrawal Penalty = Interest Rate ÷ 365 (or 366) × Penalty Days × Original Principal Balance

To estimate the early withdrawal penalty for your CD, see the calculation above or use the Early Withdrawal Penalty Calculator on your Account Details page. If you have any questions or need help, give us a call or chat with us, 24 hours a day / 7 days a week.

You cannot withdraw a portion of your principal at any time prior to maturity.

To estimate your early withdrawal penalty, go to your Account Details page, click on the three-dot menu in the upper right and select “Early Withdrawal Penalty Calculator.” Choose the business day on which you’d like to close your CD account and click “Calculate.”

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 contact us with any questions.

You have 30 days after account opening to fully fund your High-Yield CD. You cannot deposit additional funds into your CD account after it has been open for more than 30 days. To make additional deposits to your CD within the 30-day initial funding period, log in at marcus.com or in the Marcus app and select “Deposit or Transfer” to add funds from your account at an external bank or from your Marcus Online Savings Account.  You can also mail a check for deposit to your account, but keep in mind the check must be received and processed within the 30-day initial funding period. To add money via wire transfer from another bank, you’ll need to contact them and provide them with the Goldman Sachs Bank USA Routing Transit Number and your account number.

With our CD Maturity Center, you’re in the driver’s seat. The CD Maturity Center is where you or any joint owner (for joint accounts) can tell us what to do with your CD when it matures. Your choices are:

• Let the CD automatically renew for a new term. (This is the default setting when you open a CD);
• Renew the CD with an increased or decreased principal balance, a different term or both; or
• Close the CD and withdraw all funds.

Whatever you specify in the CD Maturity Center – that’s what we’ll do when your CD matures. Change your mind later? Return to the CD Maturity Center as often as you like (until 8:30 pm ET the day before your maturity date) to update your plan. To reach the CD Maturity Center, log in to your account, go to your Account Details page and click ‘View/Edit Plan’.

You can change your plan in the CD Maturity Center at any time during the 12 months before your CD’s maturity date. For CDs with terms of less than one year, you can make changes at any time during the term. If you don’t make any changes to your CD’s plan and it is set to auto-renew at maturity, you will have a 10-day grace period after your maturity date during which you can make changes, including closing your account and withdrawing all funds. However, if you do make changes to your plan and your CD renews with those changes, you won’t receive a grace period. In that case, your last time to make changes will be 8:30 pm ET on the day before your maturity date. If you would like to make changes on your maturity date or during your 10-day grace period, please give us a call or chat with us 24 hours a day / 7 days a week. 

We’ll send you a reminder 30 days before your CD’s maturity date. And any time you make changes to your CD’s plan, we’ll send you a confirmation of the change. If your CD renews, we’ll send you and any joint owners (for a joint account) an email or letter with your CD’s new term, new rate and new maturity date.

If you’d rather give us instructions by phone or chat, you can give us a call or chat with us 24 hours a day / 7 days a week.

To close your CD, go to your Account Details page, click on the three-dot menu in the upper right and select “Close this account.” If your account is eligible for closure, we’ll confirm your balance and ask where you’d like to transfer your funds.  If you’d like to transfer to multiple accounts, or if you’d like us to mail you a check, please give us a call to close your account at 1-855-730-7283. Reminder: If you close your CD prior to maturity, you’ll be charged an early withdrawal penalty based on the term of your CD and the principal. Learn more

Yes

Marcus Certificates of Deposit are not “callable.” We offer traditional CDs, which means your funds and rate are locked in for the length of the term,. (Reminder about our No-Penalty CD: You can withdraw the full balance of your No-Penalty CD anytime beginning seven days after funding.)

$500

No. Partial withdrawals are not permitted from a No-Penalty CD. You may withdraw your full account balance beginning seven days after funding.

There are no withdrawal fees for a No-Penalty CD, as long as your account has been funded for at least seven days.

Once the balance of your No-Penalty CD reaches $500 or more, you may not make additional deposits.

You can only withdraw the entire balance from your No-Penalty CD (no partial withdrawals allowed) and you must have the account funded for at least seven days. Once you withdraw your funds, the account will be closed.

Yes.

To close your No-Penalty CD, go to your Account Details page, click on the three-dot menu in the upper right and select ‘Close this account.' If your account is eligible for closure, we’ll confirm your balance and ask where you’d like to transfer your funds.  If you’d like to transfer to multiple accounts, or if you’d like us to mail you a check, please give us a call to close your account at 1-855-730-7283.

The minimum deposit is $500.

If your Marcus Rate Bump CD account reaches the $500 minimum deposit within 10 days of the day you open your Marcus Rate Bump CD account (opening day plus 10 days), you’ll receive our 10-Day CD Rate Guarantee.

After 10 days from account opening, you may request an increase to the highest interest rate and APY we offer for the same Rate Bump CD term as of the day of your request, if your Rate Bump CD is eligible for an increase.

The 10-Day CD Rate Guarantee does not apply to rate increases for your Rate Bump CD.

The number of Rate Bump Requests you may request over the life of your Rate Bump CD depends on the length of the Rate Bump CD term. We’ll let you know the maximum number of Rate Bump Requests that will be available when you open your account.

You may be eligible to increase the rate on your Rate Bump CD if:

Your Rate Bump CD has reached the $500 minimum balance

• Your Rate Bump CD is not still within the 10-Day CD Rate Guarantee period
• The available rate for this term is not the same as your existing rate
• The available rate for this term is not lower than your existing rate
• You haven’t used the maximum number of Rate Bump Requests available for your term

The number of Rate Bump Requests will be determined by the length of the Rate Bump CD term at the time of account opening or renewal Rate Bump Requests received by 6 pm ET, will be processed no later than the next day. Rate Bump Requests received after 6 pm ET may take up to two days to process. 

You can see how many Rate Bump Requests you have remaining in your ‘Account Details’ at marcus.com or in the app.  

You can check your Rate Bump Request history in your ‘Account Details’ at marcus.com or in the app.

Log in to marcus.com. If your account is eligible for a Rate Bump Request, a “learn more” option will be visible on your dashboard and an “increase rate” option will be visible in your ‘Account Details.’ You can select either option, which will take you to a screen to confirm your Rate Bump Request.

You can also give us a call to increase the rate on your Rate Bump CD.

Rate Bump Requests received by 6 pm ET will be processed no later than the next day. Rate Bump Requests received after 6 pm ET may take up to two days to process. 

No, unused Rate Bump Requests cannot be carried over when your Rate Bump CD renews for a new term. 

If you withdraw the entire balance from your Rate Bump CD prior to maturity, you will be charged an early withdrawal penalty based on the term of your Rate Bump CD and the principal.

The applicable early withdrawal penalties are as follows:

The early withdrawal penalty is calculated as follows: Divide the CD’s interest rate by 365 (366 in a leap year), multiply by the number of days in the table above and then multiply by the CD’s original principal balance. 

Early Withdrawal Penalty = Interest Rate ÷ 365 (or 366) × Penalty Days × Original Principal Balance

To estimate the early withdrawal penalty for your CD, see the calculation above or use the Early Withdrawal Penalty Calculator on your Account Details page. If you have any questions or need help, give us a call or chat with us, 24 hours a day / 7 days a week.

You cannot withdraw a portion of your principal at any time prior to maturity.

You have the option to add money to your Rate Bump CD for 10 calendar days, beginning on the day you submit your Rate Bump Request.

To estimate your early withdrawal penalty, go to your Account Details page, click on the three-dot menu in the upper right and select “Early Withdrawal Penalty Calculator.” Choose the business day on which you’d like to close your CD account and click “Calculate.”

A Rate Bump Request allows you to request an increase to your interest rate and APY to the highest APY and interest rate that we offer for the same Rate Bump CD product as of the day of your request.

To close your Rate Bump CD, go to your Account Details page, click on the three-dot menu in the upper right and select “Close this account.” If your account is eligible for closure, we’ll confirm your balance and ask where you’d like to transfer your funds.  If you’d like to transfer to multiple accounts, or if you’d like us to mail you a check, please give us a call to close your account at 1-855-730-7283. Reminder: If you close your Rate Bump CD prior to maturity, you’ll be charged an early withdrawal penalty based on the term of your CD and the principal. Learn more

Yes

You have 30 days after account opening to fully fund your Rate Bump CD. You cannot deposit additional funds into your Rate Bump CD account after it has been open for more than 30 days. Exception: When you successfully submit a Rate Bump Request on a Rate Bump CD, you have the option to add money to your account within 10 days of the increase.

To make additional deposits to your Rate Bump CD within the 30-day initial funding period or during the 10-day additional funding period, log in at marcus.com or in the Marcus app and select “Deposit or Transfer.” You can add funds via transfer from your account at an external bank or from your Marcus Online Savings Account. To add money via wire transfer from another bank, you’ll need to contact them and provide them with the Goldman Sachs Bank USA Routing Transit Number and your account number

To add or remove a beneficiary, log in to your account and select “Beneficiaries.” You can also give us a call, 24 hours a day / 7 days a week, to add or remove a beneficiary.

We only accept natural persons as beneficiaries for your Marcus accounts. You cannot name a trust or other entity as beneficiary. There is a limit of 6 beneficiaries per account.

We will need the following information when adding beneficiaries:

• Beneficiary name
• Beneficiary date of birth
• Beneficiary Social Security Number/Individual Taxpayer Identification Number
• Beneficiary address
• Beneficiary phone number

For more information, contact us.

At this time, we do not offer trust or custodial accounts.