Marcus does not have a checking account product as of 2026

Marcus by Goldman Sachs operates as an online savings bank. It offers high-yield savings accounts and certificates of deposit (CDs), but it does not offer checking accounts, debit cards, or the payment features that come with a traditional checking account. If you need a checking account alongside savings, you will need to open one at a different bank.

This is a deliberate choice by Marcus. The bank focuses on savings products rather than the full suite of services a checking account requires—like bill pay, check writing, ATM access, and overdraft management. Many people use Marcus for savings while maintaining a checking account elsewhere.

Key Takeaways

  • Marcus offers only savings accounts and CDs, not checking accounts or debit cards.
  • You cannot write checks, pay bills directly, or access ATMs through a Marcus account.
  • Transferring money from Marcus to a checking account at another bank takes one to three business days.
  • If you want both savings and checking in one place, you will need to open accounts at two separate institutions.

What Marcus accounts actually include

A Marcus savings account lets you deposit money, earn interest, and withdraw funds. You can transfer money in and out using ACH transfers (which take one to three business days) or by linking an external checking account. You cannot use a debit card, write checks, or set up automatic bill payments directly from Marcus.

Marcus also offers CDs with fixed terms ranging from three months to five years. The interest rate is locked in for the term you choose. When the CD matures, you can withdraw the money or roll it into a new CD.

Both products are FDIC-insured up to $250,000 per account category, which means your money is protected if the bank fails. Interest rates change over time and vary based on market conditions—Marcus publishes current rates on its website.

How to move money between Marcus and a checking account

If you keep money at Marcus and need to pay a bill or make a purchase, you transfer funds to your checking account first. Link your external checking account to Marcus through the app or website. The transfer uses ACH, which is the standard electronic transfer system for banks. Most transfers complete within one to three business days, though some take longer depending on your bank's processing speed.

You can also transfer money the other direction—from your checking account into Marcus—using the same ACH link. This is how most people fund their Marcus savings account initially.

If you need money faster, some banks offer expedited transfers or next-day ACH, but Marcus does not may provide this. Plan ahead for bills and expenses rather than relying on Marcus for immediate payment needs.

Why someone might choose Marcus despite no checking account

Marcus interest rates on savings accounts are typically higher than rates at banks that offer checking accounts. Because Marcus does not maintain a branch network or provide checking services, it has lower overhead costs and can pass some of that savings to depositors through better rates. If you are willing to keep your savings separate from your checking account, you earn more interest on money you are not spending right away.

This setup works well for people who have a clear separation between money they spend regularly (in a checking account) and money they are saving for a goal or emergency fund (in Marcus). You transfer only what you need when you need it.

Alternatives if you need checking and savings together

If you want both a checking account and competitive savings rates at the same bank, look at online banks that offer both products. Some examples include Ally Bank, Charles Schwab Bank, and Discover Bank. These banks offer checking accounts with no monthly fees, no minimum balance, and often no overdraft fees. Their savings rates are typically lower than Marcus, but you avoid the multi-day transfer wait.

Another option is to keep your checking account where it is now and open a Marcus savings account separately. This is what many people do—they use their existing bank for daily payments and bills, and Marcus for money they want to save and earn interest on. The trade-off is managing two logins and waiting for transfers, but you get the benefit of Marcus's higher rates.

What happens if you try to use Marcus like a checking account

You cannot set up automatic bill payments through Marcus. If a company tries to pull a payment from your Marcus account using your account number and routing number, it will fail because Marcus does not process those transactions. You must initiate transfers yourself through the Marcus app or website.

You also cannot overdraw a Marcus account. If you try to transfer more money than you have, the transfer will be declined. There are no overdraft fees because overdrafts simply do not happen—the system prevents them.

ATMs do not work with Marcus accounts. There is no debit card, so you cannot withdraw cash at an ATM or make purchases at stores. All access to your money goes through transfers to another account.

How to open a Marcus account if you decide to use it for savings

Visit the Marcus website or download the Marcus app. You will need to provide your name, address, date of birth, and Social Security number. Marcus will verify your identity and check your banking history. The process usually takes a few minutes, and your account opens the same day or the next business day.

You can then link an external checking account to transfer money in. Your first transfer may take longer (up to five business days) while Marcus verifies the account. After that, transfers are faster.

If you open a CD, you choose the term and amount when you create it. The money is locked until the maturity date. You can open multiple CDs with different terms if you want to stagger when money becomes available.

Frequently Asked Questions

Can I use Marcus to pay my bills?

No. Marcus does not offer bill pay, automatic payments, or any way to pay directly from your account. You must transfer money to a checking account first, then pay from there. This takes one to three business days, so plan ahead for bills.

Does Marcus have a debit card?

No. Marcus does not issue debit cards. You cannot make purchases or withdraw cash using a card. All money movement happens through transfers to another bank account.

What if I need my money urgently?

Transfers from Marcus to your checking account take one to three business days. If you need cash immediately, Marcus is not the right place to keep that money. Keep emergency cash in a checking account or money market account at a bank that offers faster access.

Can I have both a Marcus savings account and a Marcus checking account?

No. Marcus does not offer checking accounts at all. You can have multiple savings accounts or CDs at Marcus, but you will need a checking account at a different bank if you want one.

Is my money safe at Marcus?

Yes. Marcus is a bank chartered by the Office of the Comptroller of the Currency (OCC) and is FDIC-insured. Your deposits up to $250,000 per account type are protected if the bank fails. This is the same protection you get at any other FDIC-insured bank.