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A COVID-19 Update from Marcus Customer Support

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This page has been updated to reflect our most recent policies for how we are supporting customers through COVID-19. We will continue to make updates to this page as appropriate.

To all of our Marcus customers:

Like you, we are closely monitoring COVID-19 around the world, and we hope that you and your loved ones are safe as well. As we experience these challenging times together, the safety and well-being of our customers and employees are of utmost importance to us.

To save time, you can access your accounts 24/7 at marcus.com or on the Marcus app (available in the US on the App Store and coming soon to US Google Play). Rest assured that your ability to transfer money in and out of Marcus, make and schedule loan payments, and access your funds and account details at any time, remains unchanged. We want you to know that we remain as committed as always to provide you with excellent customer service and a valuable user experience during these uncertain times. 

We appreciate your understanding and please be safe. 

Below you can find answers to questions you may have about how Marcus is responding to COVID-19, as well as questions related to your account.

FAQS

The Marcus app and website

You can transfer funds, check your balance, schedule loan payments, open new accounts and more 24/7 on marcus.com or on the Marcus app (available in the US App Store).


Can I still call you? What are your hours of operation?

As we mentioned, our priority is the well-being of our customers and employees right now. With safety in mind, we're operating our contact centers virtually to protect our employees and serve you, our customers. Temporarily, our hours of operation are 9am – 8pm ET (Mon-Fri) and 9am – 6pm ET (Sat-Sun). Please keep in mind our contact center may be experiencing unusually long hold times. We appreciate your patience.


How is Marcus offering support to customers who may be financially impacted by COVID-19?

As a Marcus loans customer, if you have been impacted by COVID-19, we can offer help via our customer assistance program, which allows you to postpone making a payment on your loan for one month. There will be no interest charged during the deferral and your loan term will be extended by one month. 

If you are a loan customer and want to enroll and agree to the customer assistance program terms, please click here. Once you've requested a deferral, you can check the status of it by logging into your loan dashboard.

If you have a high-yield CD with Marcus and need access to your funds, we will waive the early withdrawal penalty should you need to withdraw funds from your account prior to maturity. In the meantime, your CD account will continue to accrue interest as scheduled.

To request a penalty-free withdrawal of your CD funds, please call us toll free at 1-855-730-SAVE (1-855-730-7283). 

 

How can I move money into and out of my Marcus savings accounts – and how long will it take?

The easiest way to make transfers is online at marcus.com and/or in the app. We offer same day online transfers (ACH) of $25,000 or less. If the transfer is initiated by or before Noon ET on a business day, Marcus will complete the same day transfer by 5 pm ET (check with your external bank on funds availability). Transfers over $25,000 can be made both online or in the app. You can follow the progress of your transfer using our Transfer Tracker tool. 

 

How do I transfer funds from my Online Savings Account into either a high-yield CD or a No-Penalty CD?  

If you’d like to move some of the funds in your Marcus Online Savings Account into one of our CDs, the first step is opening up a new CD account, which you can do online or in the app. Once you’ve opened the CD, you’ll be given the option to fund the CD with money from your existing Online Savings Account or from your account at another bank. 

Enroll and agree to the customer assistance program terms


*Applies to loans customers only

Request a penalty-free withdrawal of your CD funds


*Applies to savings customers only

How can I protect my accounts and finances during these times?

At Marcus, your security is of the utmost importance to us. We always take measures to safeguard your personal information and account details.

Unfortunately, scammers and cybercriminals may try to take advantage of the evolving coronavirus situation. Here are steps you can take to protect yourself:

  • Look out for suspicious emails and text messages that may impersonate a company, charity, or government agency, or ask you to click a link requesting personal information.
  • Verify the authenticity of the message before sharing sensitive information.
  • Be especially wary of any communication that adds to the sense of alarm and urges you to take immediate action, or offers COVID-19 vaccines or cures.

 

How does FDIC insurance work with Marcus?   

Marcus savings accounts are provided by Goldman Sachs Bank USA, which is an FDIC member. That means the funds you’ve deposited into Marcus Online Savings Accounts and CD accounts are insured up to the maximum allowed by law, which is currently $250,000 for all your individually-owned accounts combined, $250,000 per owner for jointly owned accounts and $250,000 per beneficiary for payable-on-death-accounts. Access more information on FDIC insurance and coverage.

 

Does Goldman Sachs have any information about how the COVID-19 public health issue is affecting the economy or the stock market?

If you’re looking to understand how COVID-19 can impact the national and global economies, head to goldmansachs.com or subscribe to BRIEFINGS by Goldman Sachs, a weekly email about trends shaping markets, industries and the global economy. 

The data and information provided in BRIEFINGS is for information purposes only and should not be construed as investment or tax advice nor as a recommendation to buy, sell, or hold any particular security. Goldman Sachs believes the data in BRIEFINGS is accurate, but does not verify its accuracy independently and does not warrant or guarantee that it is accurate or complete. Goldman Sachs has no obligation to provide any updates or changes to the data. No investment decisions should be made using this data.