Ready to access your hard-earned savings from Marcus by Goldman Sachs? Whether you need funds for an emergency, a new investment, or simply to move your money elsewhere, withdrawing from your Marcus account is a straightforward process. This comprehensive guide will walk you through every step, ensuring a smooth and hassle-free experience.
Step 1: Getting Started – Log In and Familiarize Yourself
Alright, let's get you logged in! The very first step, and arguably the most crucial, is to access your Marcus by Goldman Sachs account. Have your username and password ready?
Go to the Official Website: Open your web browser and navigate to the official Marcus by Goldman Sachs website (
marcus.com Log In Securely: Locate the "Log In" button, usually found in the top right corner of the page. Enter your registered email address and password. If you've enabled two-factor authentication (which you absolutely should!), you'll also need to complete that step (e.g., entering a code sent to your phone).
Explore Your Dashboard: Once logged in, take a moment to look around your account dashboard. You should see an overview of your accounts (Online Savings, CDs, etc.) and their current balances. This is where all your money management magic happens!
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| How To Withdraw From Marcus Goldman Sachs |
Step 2: Understanding Your Withdrawal Options
Marcus offers several convenient ways to withdraw your funds, each with its own advantages and considerations. Knowing your options beforehand will help you choose the best method for your needs.
Sub-heading: Option A: ACH Transfer to a Linked External Account (Most Common)
This is by far the most popular and generally the easiest way to move money out of your Marcus account. An ACH (Automated Clearing House) transfer sends funds electronically to a linked bank account you own at another financial institution.
What You Need:
A linked external bank account: Before you can withdraw, you must have an external checking or savings account linked to your Marcus account. If you haven't done this already, you'll need to go through the linking process first (often by verifying small trial deposits or instantly linking with your external bank's login).
Account details of the linked account: Ensure you have the correct routing number and account number for the external account you wish to transfer to.
Initiating the Transfer:
From your Marcus dashboard, look for an option like "Make a Transfer" or "Transfer Money."
Select the Marcus account you want to withdraw from.
Choose the linked external account you want to transfer to.
Enter the amount you wish to withdraw.
Review the details carefully and confirm the transfer.
Processing Time & Limits:
Marcus typically processes ACH transfers of $100,000 or less made by 12 PM ET on a business day, by 5 PM ET that same day.
For larger amounts, or if initiated later in the day, it generally takes 1-3 business days for the funds to arrive in your external account. Always check with your external bank regarding their availability of funds sent by Marcus.
Marcus by Goldman Sachs allows up to $125,000 per outgoing ACH transfer initiated online. For amounts exceeding this, you may need to call them.
Sub-heading: Option B: Wire Transfer (For Faster, Larger Transfers)
Wire transfers are ideal when you need funds to arrive very quickly, often within the same day. They are generally used for larger sums of money.
What You Need:
Routing Transit Number (RTN) of your external bank
Wire transfer address of your external bank
Your account number at your external bank
Initiating the Wire Transfer:
Log in to marcus.com and navigate to "Make a transfer."
Select "Transfer type > Wire transfer" if available.
You'll need to provide the detailed wire instructions for your external bank.
Processing Time & Limits:
Online wire transfers initiated at marcus.com are typically processed within 1 hour if requested by 4 PM ET.
Online wire transfer limits are usually up to $50,000 per statement period.
For larger wire transfers or if the online option isn't available, you'll need to call Marcus customer service to initiate the transfer. There is generally no limit on telephone-initiated wire transfers.
While Marcus doesn't charge fees for wire transfers, your external bank may charge a fee.
Sub-heading: Option C: Request a Check (Less Common, Slower)
If for some reason an electronic transfer isn't feasible or preferred, you can request a check from Marcus. This is generally a slower method.
How to Request: You will need to call Marcus customer service directly to request a withdrawal by check.
Important Notes:
The check will be made payable only to the account owner.
It will be mailed to the primary address associated with your Marcus account.
Allow sufficient time for mail delivery.
QuickTip: Reading twice makes retention stronger.
Step 3: Executing Your Withdrawal – A Step-by-Step Walkthrough (Online ACH)
Let's focus on the most common and recommended method: an online ACH transfer.
Sub-heading: 3.1 Linking Your External Account (If Not Already Linked)
If this is your first time withdrawing or if you're using a new external account, you'll need to link it.
Navigate to "Linked Accounts": On your Marcus dashboard, look for a section like "Profile," "Account Details," or "Linked External Accounts."
Add a New Account: Select the option to "Add a new external account."
Provide Bank Details: You'll typically be asked for your external bank's routing number and your account number.
Verification Process: Marcus will need to verify that you own this account. This usually involves one of two methods:
Trial Deposits: Marcus will send two small "trial" deposits (a few cents) to your external account. You'll then need to log back into Marcus and enter the exact amounts of these deposits to confirm. This can take 1-3 business days.
Instant Verification: Some banks allow instant linking by securely entering your external bank's online banking login credentials. This is much faster.
Confirmation: Once successfully verified, your external account will appear as "linked" and ready for transfers.
Sub-heading: 3.2 Initiating the Transfer
With your external account linked, the withdrawal process is quite simple.
Go to Transfers: From your Marcus dashboard, click on the "Transfers" or "Make a Transfer" option.
Select Source and Destination:
For the "From" account, select your Marcus Online Savings Account (or CD, if applicable).
For the "To" account, choose the linked external bank account where you want the funds to go.
Enter Amount: Type in the specific dollar amount you wish to withdraw. Double-check this figure carefully!
Review and Confirm: A summary of your transfer will appear.
Verify the amount.
Confirm the correct linked account.
Check the estimated arrival date.
Submit Transfer: Click "Confirm" or "Submit Transfer." You'll usually receive an on-screen confirmation and an email notification.
Step 4: Monitoring Your Withdrawal
Once you've initiated a withdrawal, it's natural to want to track its progress.
Marcus Dashboard: Your Marcus account dashboard often provides a "Track my transfer" link or a transaction history where you can see the status of your outgoing transfer.
Email Notifications: Marcus typically sends email updates regarding the status of your transfer, including confirmation of initiation and completion.
Check Your External Account: After the estimated processing time, log in to your linked external bank account to confirm the funds have arrived.
Step 5: Special Considerations for CDs (Certificates of Deposit)
Withdrawing from a Marcus CD has specific rules you need to be aware of.
Sub-heading: 5.1 High-Yield CDs
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Early Withdrawal Penalties: For Marcus High-Yield CDs, withdrawing your principal before the maturity date will incur an early withdrawal penalty. This penalty is calculated based on the interest rate, penalty days, and your original principal balance.
Interest Withdrawal: You can withdraw any earned interest from your High-Yield CD penalty-free. The interest is typically added to your principal balance monthly, but you have the option to withdraw it.
No Partial Principal Withdrawals: You generally cannot withdraw a portion of your principal from a High-Yield CD prior to maturity. If you withdraw, it typically means withdrawing the entire principal amount, subject to the penalty.
Sub-heading: 5.2 No-Penalty CDs
Marcus offers No-Penalty CDs, which provide more flexibility.
No Early Withdrawal Fees: As the name suggests, there are no early withdrawal fees for a Marcus No-Penalty CD, as long as your account has been funded for at least seven days.
Full Balance Withdrawal: Similar to High-Yield CDs, if you make an early withdrawal from a No-Penalty CD, you'll need to take out the full balance – partial withdrawals are not permitted.
Sub-heading: 5.3 CD Maturity
Marcus will notify you before your CD's maturity date. You'll then have options to:
Renew your term
Modify your CD
Withdraw your principal balance
Close the account
You can set your preferences in the CD Maturity Center on marcus.com or in the Marcus app.
Frequently Asked Questions (FAQs)
Here are 10 common questions about withdrawing from Marcus by Goldman Sachs:
How to Initiate an ACH transfer from my Marcus account?
You can initiate an ACH transfer by logging into your Marcus account on marcus.com or via the Marcus app, selecting "Make a Transfer," choosing your Marcus account as the source and a linked external account as the destination, and entering the desired amount.
How to Perform a wire transfer from my Marcus account?
Tip: Take your time with each sentence.
Log in to marcus.com, go to "Make a Transfer," and select "Wire transfer." You'll need your external bank's routing number, wire address, and your account number. For amounts over $50,000 (online limit) or if the online option isn't available, call Marcus customer service.
How to Link an external bank account to Marcus?
Log in to Marcus, navigate to "Linked External Accounts" or "Profile," and select "Add a new external account." Follow the prompts to provide your external bank's routing and account numbers, then complete the verification process (trial deposits or instant linking).
How to Check the status of my withdrawal?
You can check the status of your withdrawal by logging into your Marcus dashboard, where you'll often find a "Track my transfer" link or details in your transaction history. Marcus also sends email confirmations.
How to Withdraw from a Marcus CD without penalty?
For High-Yield CDs, you can only withdraw earned interest penalty-free. For No-Penalty CDs, you can withdraw the full principal and interest without penalty, provided the account has been funded for at least seven days.
How to Find Marcus by Goldman Sachs customer service number?
QuickTip: A careful read saves time later.
For Marcus Online Savings Accounts and CDs, you can call Marcus customer service toll-free at 1-855-730-7283. They are available 24 hours a day, 7 days a week.
How to Increase my withdrawal limit for ACH or wire transfers?
For ACH transfers exceeding $125,000 or wire transfers exceeding $50,000 (online limit), you will generally need to call Marcus customer service to initiate the transfer and potentially discuss higher limits.
How to Withdraw cash directly from Marcus?
Marcus by Goldman Sachs is an online-only bank and does not have physical branches for cash withdrawals. You must transfer funds to a linked external bank account and then withdraw cash from that bank.
How to Change my linked external account for withdrawals?
Log in to your Marcus account, go to your profile or linked accounts section, and follow the instructions to edit or change your linked account. You may need to provide a recent bank statement for verification.
How to Get a check for my Marcus withdrawal?
To request a check for a withdrawal, you must call Marcus customer service directly. The check will be made out to the account owner and mailed to your primary address on file.
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