You cannot wire money directly from Marcus, but you can move it to another bank and wire from there
Marcus by Goldman Sachs does not offer wire transfers as a service. You cannot initiate a wire directly from your Marcus savings account to another person or institution. However, you can transfer money from Marcus to an external bank account you own, and then wire it from that account. The transfer to your external bank typically takes one to three business days, depending on whether you use ACH or expedited transfer options.
If you need to send money urgently, the delay matters. A wire from another bank is usually same-day or next-business-day, but the initial transfer out of Marcus adds time. Plan accordingly if you have a deadline.
Key Takeaways
- Marcus does not offer wire transfers, but you can transfer funds to another bank account you control and wire from there.
- ACH transfers from Marcus to your external bank take one to three business days at no cost.
- Once money reaches your external bank, you can wire it the same day or next business day.
- If you need same-day movement, a wire from Marcus is not an option; you will need to use a different payment method or move money to a bank that offers faster transfers.
How to transfer money out of Marcus to another bank
Log into your Marcus account online or through the mobile app. Go to the Transfers section and select "Transfer to external account." You will need the routing number and account number of the bank you want to send money to. Marcus will ask you to verify the external account by depositing small test amounts (usually two deposits under $1 each) and confirming those amounts in your external bank account. This verification step can take a few business days the first time you link an account.
Once the external account is verified, you can transfer money without the test deposit step. Select the amount, confirm the transfer date, and submit. Marcus processes ACH transfers, which are free but take one to three business days. You cannot choose a faster option through Marcus itself.
What happens after money leaves Marcus
Once your transfer is in transit, you have limited control. ACH transfers are not reversible after they leave Marcus's system, though you can contact Marcus customer service if you catch an error before the transfer settles. If the money lands in the wrong account, you will need to contact that bank and ask them to return it—Marcus cannot retrieve it for you.
When the money arrives at your external bank, it will be available immediately or within one business day, depending on that bank's policies. At that point, you can wire it out, use it for a bill payment, or move it elsewhere. Check your external bank's wire transfer limits and fees before you initiate the wire; some banks charge $15 to $30 per outgoing wire.
Alternatives if you need money to move faster
If the one-to-three-day ACH transfer is too slow, consider these options. A peer-to-peer transfer through an app like Venmo or PayPal can move money in minutes if the recipient has an account on that platform. These services charge a fee for instant transfers (usually 1 to 2 percent) but avoid the bank-to-bank delay.
If you need to send money to a business or institution that requires a wire, call that recipient and ask if they accept ACH transfers instead. Many do, and ACH is cheaper and faster than the Marcus-to-external-bank-to-wire route. Some businesses also accept credit card or debit card payments, which settle in one to two business days.
Why Marcus does not offer wire transfers
Marcus is an online-only savings bank focused on deposit products like high-yield savings accounts and certificates of deposit. It does not maintain the infrastructure or regulatory licenses required to offer wire transfers directly. Wire transfers require real-time settlement systems and compliance with federal wire transfer rules; Marcus outsources these services to its parent company, Goldman Sachs, but does not expose them to customers.
This is common among online banks. The trade-off is lower fees and higher interest rates on savings. If wire transfer capability is important to you, you may want to keep a checking account at a traditional bank or credit union that offers wires, and use Marcus for savings only.
Fees and limits on Marcus transfers
Marcus charges no fee for ACH transfers to external accounts. There is no limit on how many transfers you can make per month, though Marcus reserves the right to freeze your account if transfer activity looks unusual (for example, moving large sums repeatedly in a short time).
Your external bank may have its own limits. Some banks cap the number of outgoing ACH transfers per month or set daily or monthly transfer limits. Check your external bank's terms before you transfer. If you hit a limit, you may need to wait until the next calendar month or contact that bank to request a higher limit.
What to do if a transfer goes wrong
If money does not arrive at your external bank within three business days, log into Marcus and check the transfer status. Marcus will show whether the transfer is pending, completed, or failed. If it failed, Marcus will usually tell you why—often a mismatched account number or routing number.
If the transfer completed on Marcus's end but never arrived at your external bank, contact your external bank's customer service. Provide them with the transfer date, amount, and the routing and account number it was sent from. They can trace the ACH transaction and tell you where it went. If it landed in the wrong account, they can initiate a return. This process can take five to ten business days.
If you need to reverse a transfer before it settles, call Marcus customer service immediately. Once the transfer has settled at your external bank, Marcus cannot reverse it; you will have to work with your external bank to recover the funds.
Frequently Asked Questions
Can I wire money from Marcus to pay a bill?
No, Marcus does not offer wire transfers. You can transfer money to another bank account you own and wire from there, but that takes one to three days plus the time for the wire itself. If the bill is due soon, call the biller and ask if they accept ACH transfers or credit card payments instead.
How long does it take to transfer money from Marcus to my checking account?
One to three business days for an ACH transfer. Weekends and federal holidays do not count as business days. If you initiate a transfer on Friday evening, it may not arrive until Tuesday or Wednesday.
Can I transfer money from Marcus to someone else's bank account?
No. Marcus only allows transfers to bank accounts in your own name. To send money to another person, transfer it to your own checking account first, then use that account to send it to them via wire, ACH, or peer-to-peer app.
What if I enter the wrong account number when transferring from Marcus?
The transfer may fail before it leaves Marcus, in which case you will see an error message and can correct it. If the account number is valid but belongs to someone else, the transfer will go through and land in their account. You will need to contact that bank and ask them to return it, which can take weeks.
Does Marcus charge a fee to transfer money out?
No. Marcus charges no fee for ACH transfers to external accounts. Your external bank may charge a fee to receive the transfer or to wire it out, so check their terms.