You can withdraw money from Marcus anytime, but the method and speed depend on how you move it
Marcus is an online savings account, not a checking account, so you cannot write checks or use a debit card to pull money out directly. Instead, you transfer money from Marcus to a linked bank account—usually your checking account at another bank—and then withdraw from there. The transfer itself takes one to three business days, depending on your bank and the day you initiate it.
You can also use a Marcus debit card if you have one through a Marcus Money Market Account, which functions more like a checking account and allows direct withdrawals. But most Marcus customers have a savings account only, which means a transfer step is required.
Key Takeaways
- Marcus savings accounts require you to link an external bank account and transfer money there before you can withdraw it in cash.
- Transfers from Marcus to your linked bank account take one to three business days and are free.
- You can initiate a transfer through the Marcus mobile app or website at any time, including weekends and holidays.
- If you need cash immediately, transfer to a bank account you can access at an ATM or branch, since Marcus has no physical locations.
- Marcus Money Market Accounts come with a debit card that allows direct withdrawals without a transfer step.
How to transfer money out of Marcus
Log into your Marcus account through the app or website and select the option to transfer funds. You will see a list of linked bank accounts—these are external accounts you have already connected to Marcus. Choose the account you want to transfer to, enter the amount, and confirm the transfer.
The transfer is free and will be processed within one to three business days. Weekends and federal holidays do not count as business days, so a transfer initiated on Friday may not arrive until Tuesday. Some banks credit transfers faster than others; your bank's processing speed matters as much as Marcus's.
If you have not yet linked a bank account to Marcus, you will need to do that first. Marcus will ask for your bank's routing number and your account number. You can find both on a check or by logging into your bank's website. Once linked, the account is available for future transfers.
What to do if you need cash right away
Because Marcus transfers take one to three business days, they are not the answer if you need cash today. Instead, transfer to a bank account at an institution with ATMs or branches you can access immediately. If your linked account is at a major bank like Chase, Bank of America, or Wells Fargo, you can visit an ATM or branch as soon as the transfer clears—usually within a day.
If your linked account is at a smaller bank or credit union with limited ATM access, consider linking a second account at a larger bank just for emergencies. You can link multiple accounts to Marcus and choose which one to transfer to each time.
Another option: if you have a Marcus Money Market Account with a debit card, you can use that card at any ATM or retailer without waiting for a transfer. This is the fastest way to access your Marcus money in cash, but it requires opening a different product than a standard savings account.
Limits on how often you can withdraw
Federal law used to cap savings account withdrawals at six per month, but that rule was suspended in 2020 and has not been reinstated. Marcus does not impose its own withdrawal limits, so you can transfer money out as often as you want.
However, there is no practical benefit to withdrawing more than you need. Each transfer takes one to three business days, so frequent small transfers will just slow you down. Transfer the amount you need in one batch when possible.
Fees and what happens if a transfer fails
Marcus does not charge fees for transfers out of your account. The transfer is free whether you move $100 or $10,000.
If a transfer fails—usually because you entered the wrong account number or your linked bank rejected it—Marcus will notify you and the money stays in your Marcus account. You can try the transfer again with the correct information. If your bank is rejecting transfers for another reason, contact your bank's customer service to ask why and whether the account is set up to receive transfers from external sources.
Transferring money between Marcus accounts
If you have more than one Marcus account—for example, a savings account and a Money Market Account—you can transfer between them within Marcus without linking an external bank. These internal transfers are instant and free. Log into your Marcus account, select the transfer option, choose the other Marcus account as the destination, and the money moves right away.
This is useful if you want to move money from a savings account to a Money Market Account so you can use the debit card, or if you are consolidating multiple Marcus accounts.
What to know about taxes and reporting
Withdrawing money from your Marcus savings account is not a taxable event—you are not earning income by taking your own money out. However, the interest Marcus pays you on your balance is taxable income. Marcus will send you a 1099-INT form each January if you earned $10 or more in interest during the previous year. You report this interest on your tax return, not the withdrawals themselves.
Withdrawals do reduce your account balance, which means you earn less interest going forward. If you withdraw $5,000 from a $10,000 balance, you now earn interest only on the remaining $5,000.
Frequently Asked Questions
Can I withdraw money from Marcus at an ATM or branch?
No. Marcus is an online-only bank with no physical branches or ATMs. You must transfer your money to a linked bank account first, then withdraw from that bank's ATM or branch. If your linked bank is a major national bank, the transfer usually clears within one business day.
How long does it take to withdraw money from Marcus?
One to three business days for a transfer to your linked bank account. The exact timing depends on when you initiate the transfer and your bank's processing speed. Transfers initiated on weekends or holidays are processed the next business day. Once the money reaches your linked account, you can withdraw it immediately.
What if I enter the wrong account number when transferring?
Marcus will reject the transfer and the money stays in your Marcus account. You will receive a notification that the transfer failed. Check the account number and try again. If your bank keeps rejecting transfers, contact your bank to confirm the account is set up to receive external transfers.
Can I set up automatic withdrawals from Marcus?
No. Marcus does not offer automatic transfers out of your account. You must initiate each transfer manually through the app or website. You can set up automatic deposits into Marcus from a linked account, but not the reverse.
Is there a minimum or maximum amount I can withdraw?
Marcus does not publish a minimum withdrawal amount, so you can transfer as little as $1. There is no stated maximum, though extremely large transfers may take longer to process or trigger additional verification steps for security reasons.