Wire transfers are not available directly from Marcus savings accounts
Marcus by Goldman Sachs does not offer wire transfer service from your savings account. You cannot initiate an outgoing wire to another bank or person directly through Marcus. If you need to send money to someone else's bank account, you will need to move the funds to an external bank account first, then wire from there.
This limitation applies to all Marcus savings accounts, regardless of balance or account age. It is a structural choice by Marcus, not a temporary restriction. The bank focuses its savings product on deposits and withdrawals through ACH transfers and debit cards, not on outgoing wires.
Key Takeaways
- Marcus savings accounts do not support wire transfers, so you cannot wire money directly from your Marcus account to another bank.
- You can move money from Marcus to an external bank account using ACH transfer, which typically takes one to three business days and costs nothing.
- Once the money reaches your external bank account, you can wire it from there if that bank offers wire service.
- If you need to send money urgently and cannot wait for an ACH transfer, you may need to use a different payment method or move funds to a bank that offers faster transfer options.
How to move money out of Marcus using ACH transfer
The standard way to get money out of Marcus is an ACH transfer to a bank account you own at another institution. You link your external bank account to your Marcus account through the Marcus mobile app or website. Marcus will ask for your routing number and account number, and may require a small verification deposit to confirm you own the account.
Once linked, you can initiate a transfer from Marcus to that account. The money typically arrives in one to three business days. There is no fee for this transfer. The amount you can transfer at once depends on your Marcus account history and the limits set by your external bank, but most people can move several thousand dollars per transfer without issue.
If you are moving a large sum, you may hit a daily or monthly limit. Contact Marcus customer service to ask whether your account has a cap and whether it can be raised. Some limits are temporary and reset after a certain number of days.
What to do if you need to wire money urgently
ACH transfers take time because the transaction moves through the Federal Reserve's clearing system. If you need money to reach someone today or tomorrow, an ACH transfer from Marcus will not work. In that case, you have a few options.
First, check whether your external bank account offers faster transfer methods. Some banks offer same-day ACH or real-time payments through the RTP network, which can move money in minutes. If your external bank supports this, you could transfer from Marcus to that account using standard ACH, then immediately wire or transfer from there using the faster method.
Second, if you have a debit card linked to your Marcus account, you could use that card to make a payment directly to the person or business you are trying to pay, if they accept card payments. This is not a wire, but it moves money instantly.
Third, consider whether a peer-to-peer payment app like Venmo, PayPal, or Cash App would work instead. You can link your Marcus account to these apps and send money that way, though the recipient may need to wait for their bank to process the deposit.
Why Marcus does not offer wire transfers
Marcus is an online-only bank with no physical branches. It keeps costs low by offering a limited set of services focused on savings and deposits. Wire transfers require infrastructure that Marcus has chosen not to build or maintain. The bank prioritizes high interest rates on savings over a full menu of transaction services.
This is a common trade-off in online banking. Banks that offer wire service typically charge for it—usually $15 to $30 per outgoing wire—and maintain larger operational teams to handle the transactions. Marcus passes those savings on to customers through higher APY on savings accounts instead.
Moving money to a bank that does offer wire service
If you regularly need to wire money, you may want to keep a checking account at a bank that offers wire transfers. Many traditional banks and credit unions offer free or low-cost outgoing wires. You can transfer money from Marcus to that account using ACH, then wire from there when you need to.
Some online banks like Ally, Charles Schwab, and Fidelity do offer wire transfer service. If you open an account at one of these institutions, you can use them as your "hub" for outgoing wires while keeping your savings at Marcus for the higher interest rate. This approach lets you use both services for what they do best.
The trade-off is that you will have accounts at two institutions and will need to wait for an ACH transfer between them. If you wire frequently, this extra step may be worth it for the flexibility.
Receiving wire transfers into your Marcus account
While you cannot wire money out of Marcus, you can receive incoming wire transfers. If someone wants to send you money by wire, you can provide them with your Marcus account number and routing number. The wire will arrive in your Marcus savings account, usually within one business day.
Make sure you give the sender the correct routing number for Marcus. You can find this in your account settings or by calling Marcus customer service. Using the wrong routing number will delay the transfer or send it to the wrong bank.
Frequently Asked Questions
Can I wire money from Marcus to pay a bill?
Not directly. You would need to transfer money from Marcus to a checking account at another bank first, then wire from there. Alternatively, many billers accept ACH payments directly, which you might be able to set up through your biller's website using your Marcus account information.
What if I need to wire money internationally?
Marcus does not support international wire transfers. You would need to move your money to a bank that offers this service. Some banks charge $25 to $50 for international wires, and the recipient's bank may also charge a fee. Exchange rates vary by bank, so compare options before choosing.
How long does it take to transfer money from Marcus to another bank?
Standard ACH transfers take one to three business days. Weekends and holidays do not count as business days, so a transfer initiated on Friday may not arrive until Tuesday. Some external banks process deposits faster than others, so the exact timing depends on both Marcus and your receiving bank.
Is there a limit to how much I can transfer out of Marcus at once?
Marcus sets limits based on your account history and activity. New accounts typically have lower limits than established ones. You can check your limit in the app or by calling customer service. If you need to transfer more than your limit allows, you can ask Marcus to raise it, though approval is not may provide.
Can I set up automatic transfers from Marcus to another account?
Yes. Once you link an external bank account, you can schedule recurring ACH transfers from Marcus on a weekly, bi-weekly, or monthly basis. This is useful if you want to move a portion of your savings regularly without having to initiate each transfer manually.