Your Comprehensive Guide to Deleting Your Goldman Sachs Account
So, you've decided it's time to part ways with your Goldman Sachs account, perhaps a Marcus by Goldman Sachs High-Yield Online Savings Account, a CD, or another product. Whatever your reason, navigating the account closure process can sometimes feel like a maze. But don't worry, you're not alone in this, and with this step-by-step guide, we'll make sure you understand exactly what to do.
Ready to get started? Let's begin by understanding what type of Goldman Sachs account you hold, as this will slightly influence the process.
Step 1: Identify Your Goldman Sachs Account Type
Before you pick up the phone or click any buttons, it's crucial to know exactly what kind of account you have with Goldman Sachs. Goldman Sachs offers a range of financial products, and the specific steps for closure can vary.
 |
| How To Delete Goldman Sachs Account |
Sub-heading: What Kind of Account Do You Have?
Marcus by Goldman Sachs Online Savings Account or CD: These are some of the most common consumer-facing accounts. The closure process for these is generally straightforward.
Goldman Sachs Investment Accounts (e.g., Private Wealth Management): If you have a more complex investment account, the process will involve working closely with your financial advisor.
Goldman Sachs Credit Cards (e.g., Apple Card, GM Rewards Card): While backed by Goldman Sachs, these typically have their own dedicated support channels and closure procedures, often managed directly through the card issuer's platform or dedicated customer service.
Other Goldman Sachs Products/Services: If your account falls outside of the above, you'll likely need to contact their general customer service or the specific department.
Knowing your account type will help you gather the right information and reach out to the correct department at Goldman Sachs.
Step 2: Prepare for Account Closure – The Pre-Checks
Before initiating the closure, there are a few important steps to take to ensure a smooth transition and avoid any unexpected issues.
Sub-heading: Emptying Your Account (If Applicable)
Tip: Be mindful — one idea at a time.
Transfer Funds Out: For savings or CD accounts, you must transfer all funds out of the Goldman Sachs account before you can close it. Link an external bank account if you haven't already and initiate a transfer.
Tip: Be aware of daily transfer limits and processing times. It might take a few business days for the funds to clear in your external account.
CD Maturity: If you have a Certificate of Deposit (CD), consider waiting until its maturity date to avoid any early withdrawal penalties. Marcus No-Penalty CDs, however, allow you to withdraw your full balance without penalty after 7 days of funding.
No Outstanding Balances (Credit Cards/Loans): For credit cards or loan accounts, ensure you have paid off any outstanding balances in full. You won't be able to close an account with a pending balance.
Sub-heading: Gather Necessary Information
Have the following details readily available, as you'll likely need them when you contact Goldman Sachs:
Account Number(s): This is crucial for identifying your specific account.
Personal Identification Information: Be prepared to verify your identity with details like your full name, address, date of birth, and potentially the last four digits of your Social Security Number (SSN) or Tax Identification Number (TIN).
Linked External Bank Account Details: If you're transferring funds, have the routing and account number of your external bank account handy.
Reason for Closure (Optional, but helpful): While not always required, having a brief reason can sometimes streamline the process if asked.
Step 3: Contact Goldman Sachs Customer Service
This is the primary method for closing most Goldman Sachs accounts. Direct online closure options for savings accounts are generally not available for security reasons.
Sub-heading: How to Reach Them
For Marcus by Goldman Sachs Savings Accounts:
Phone (Recommended for US): Call Marcus customer care at 1-855-730-7283. They are available 24 hours a day, 7 days a week.
Phone (Recommended for UK): Call their Customer Care Team at 0800 085 6789 or +44 203 901 3353 from abroad. Their hours are typically 8 am to 8 pm, Monday to Friday (excluding bank holidays).
Chat (for savings questions, for existing Marcus customers once logged in): While you can chat for questions, the actual closure will likely require a phone call.
Email: You can email
contactmarcusuk@gs.comfor general inquiries outside business hours, but account closure discussions are usually done over the phone for security.
For Credit Cards (Apple Card, GM Rewards Card): Look for the dedicated customer service number on the back of your card or within the respective app (e.g., Wallet app for Apple Card). These services have specific support teams.
For Investment Accounts/Other Products:
General Goldman Sachs Contact: For broader inquiries or other products, you can call their general contact number: +1-212-902-1000.
Your Financial Advisor: If you have a dedicated financial advisor, contact them directly. They will guide you through the process for investment accounts.
Sub-heading: What to Expect During the Call
Identity Verification: The representative will first verify your identity using the information you prepared in Step 2.
Account Closure Request: Clearly state that you wish to close your account.
Confirmation of Zero Balance: The representative will confirm that your account has a zero balance (for deposit accounts) or that any outstanding balances have been paid (for credit/loan accounts).
Final Instructions/Confirmation: They will provide any final instructions and confirm that your account closure request has been processed. They might tell you to expect a confirmation email or letter.
Be Patient: Depending on call volumes, you might experience some wait time. Have your information ready to make the call as efficient as possible.
Ask Questions: If anything is unclear, don't hesitate to ask questions about the process, what to expect, and when the closure will be complete.
Step 4: Confirm Account Closure
 |
After you've spoken with a representative and initiated the closure, it's important to verify that the account has indeed been closed.
Tip: Look for examples to make points easier to grasp.
Sub-heading: What to Look For
Confirmation Email/Letter: Goldman Sachs may send you a confirmation email or a physical letter once your account is officially closed. Keep an eye out for this.
Attempt to Log In: After a few business days (or as advised by the representative), try logging into your online account. If the account is closed, you should no longer be able to access it or see the account details.
Check Linked Accounts: If you transferred funds out, confirm that the funds have successfully arrived in your external bank account.
Sub-heading: What if There's a Problem?
If you don't receive a confirmation, or if you're still able to access the account after the advised timeframe, call Goldman Sachs customer service again. Reference your previous call details (date, time, representative's name if you noted it) to follow up.
In rare cases, if you encounter persistent issues, you might need to send a written request. However, calling is almost always the most efficient method for account closure with Goldman Sachs.
Step 5: Update Your Financial Records
Once your Goldman Sachs account is officially closed, it's important to update your personal financial records.
Sub-heading: Essential Record Keeping
Update Budgeting Software: If you use any budgeting tools (like Mint, YNAB, etc.), remove the closed Goldman Sachs account.
Review Automatic Payments/Deposits: Ensure no recurring deposits or payments were linked to this account. If they were, update them to your new primary account. This is crucial to prevent missed payments or lost deposits.
Save Statements: Download and save any past statements you might need for tax purposes or personal records.
Shred Old Documents: Once you're certain the account is closed and you've saved necessary records, shred any physical documents containing your Goldman Sachs account information to protect your privacy.
Related FAQ Questions
Here are 10 frequently asked questions about closing Goldman Sachs accounts, with quick answers:
How to transfer money out of my Goldman Sachs Marcus account before closing?
You can initiate an electronic transfer (ACH) from your Marcus account to a linked external bank account through the Marcus online portal or mobile app.
Tip: Don’t skip the small notes — they often matter.
How to find my Goldman Sachs account number?
Your account number can typically be found on your online account dashboard, on your account statements, or by calling Goldman Sachs customer service.
How to close a Goldman Sachs Marcus CD early?
For No-Penalty CDs, you can withdraw your full balance and close the account after 7 days of funding without penalty. For traditional CDs, early closure may incur a penalty, and you'll need to contact customer service.
How to know if my Goldman Sachs account is fully closed?
You should receive a confirmation email or letter from Goldman Sachs, and you will no longer be able to log in to your online account for that specific product.
How to contact Goldman Sachs customer service for account closure?
For Marcus accounts, call 1-855-730-7283 (US) or 0800 085 6789 (UK). For other products, refer to the specific product's customer service number or the general Goldman Sachs contact.
How to handle remaining funds in a closed Goldman Sachs account?
QuickTip: Use posts like this as quick references.
Before closing, ensure all funds are transferred out. If a small residual amount remains or is received after closure, Goldman Sachs will typically mail a check to your address on file.
How to close an Apple Card account issued by Goldman Sachs?
You'll typically manage Apple Card closure through the Wallet app on your Apple device or by contacting Apple Card support directly.
How to ensure all my personal data is deleted after closing my account?
Goldman Sachs has privacy policies regarding data retention. While they will close your account, some data may be retained for regulatory or legal purposes. You can inquire about their data retention policy when you call to close your account.
How to avoid fees when closing a Goldman Sachs account?
For savings accounts, there are generally no fees for closure. For CDs, ensure you understand any early withdrawal penalties. For credit cards, ensure your balance is paid off to avoid interest accrual.
How to reactivate a closed Goldman Sachs account?
Generally, once an account is closed, it cannot be reactivated. You would likely need to apply for a new account if you wish to bank with Goldman Sachs again in the future.
 |
