You can close a Marcus savings account online, by phone, or by mail in about five minutes
Marcus does not charge a fee to close your account, and you can do it without visiting a branch—Marcus has no physical locations. The fastest method is logging into your Marcus online account and requesting closure through the settings menu. If you prefer to speak to someone, you can call Marcus customer service at 1-888-1MARCUS (1-888-162-7287), available Monday through Friday, 8 a.m. to 8 p.m. Eastern time, and Saturday 9 a.m. to 5 p.m. Eastern time. You can also mail a written request, though this takes longer.
Before you close, make sure your account balance is zero or transferred out. Marcus will not close an account with money still in it. You also need to decide what to do with any interest that has accrued but not yet posted—it will be paid to you before closure, usually within one to two business days after the account closes.
Key Takeaways
- Marcus charges no fee to close your account and processes most closures within one to two business days.
- You must transfer or withdraw your entire balance before closure; Marcus will not close an account with money remaining.
- Any accrued interest posts to your account before closure and will be transferred or paid out with your final balance.
- The online method through your Marcus dashboard is fastest, but phone closure is available if you need to speak with someone.
How to close your account online
Log into your Marcus account at marcus.com using your email and password. Navigate to the account settings or profile section—this is usually found in the menu at the top right of the page. Look for an option labeled "Close Account," "Account Closure," or similar language. Marcus will ask you to confirm your request and may ask why you are closing; this is optional to answer.
Before you can proceed, Marcus will verify that your balance is zero. If you have money in the account, you will need to transfer it to another bank account or withdraw it first. Once the system confirms your balance is zero, you can submit your closure request. You should receive a confirmation email within a few minutes, and the account will be closed within one to two business days.
How to close your account by phone
Call 1-888-1MARCUS (1-888-162-7287) and tell the representative you want to close your account. Have your account number and a form of ID ready. The representative will confirm your identity, check your balance, and walk you through the closure process. If you have money in the account, they can help you arrange a transfer to another bank account or discuss withdrawal options.
Phone closure typically takes 10 to 15 minutes. The representative will send you a confirmation email after the call, and your account will close within one to two business days. This method is useful if you have questions during the process or if you are uncomfortable closing online.
How to close your account by mail
Write a letter requesting account closure and include your full name, account number, and the email address associated with your account. Sign and date the letter. Mail it to Marcus by Goldman Sachs, Attn: Account Closure, 2300 North Ridgetop Road, Allentown, PA 18109.
Mail closure takes longer—typically two to three weeks from the date Marcus receives your letter, plus mail delivery time. This method is slower than online or phone closure and is best used only if you cannot access your account online or reach customer service by phone.
What happens to your money during closure
Your balance must be zero before Marcus will close the account. You can transfer money to another bank account using the transfer feature in your Marcus dashboard, or you can request a check be mailed to you. Transfers to external accounts typically take one to three business days; checks take five to seven business days.
Any interest that has accrued but not yet posted to your account will be added to your balance before closure. This interest will be transferred or paid out along with your final balance. You will not lose accrued interest by closing the account.
What to do if you cannot access your account online
If you have forgotten your password, use the "Forgot Password" link on the Marcus login page to reset it. If you cannot reset your password or cannot access your account for another reason, call Marcus customer service at 1-888-1MARCUS. A representative can verify your identity and help you regain access or process your closure request over the phone.
If your account has been inactive for a long time, Marcus may have frozen it for security reasons. Call customer service to reactivate it before attempting to close it, or ask the representative to close it for you during the call.
What happens after your account closes
Once your account is closed, you will no longer be able to log in or access it. Marcus will not reopen a closed account; if you want to bank with Marcus again in the future, you will need to open a new account. Your account closure will not appear on your credit report, as savings accounts do not affect your credit score.
Keep your final confirmation email for your records. It will show your account number, closure date, and final balance. If you have any questions about interest paid or transactions after closure, you can reference this email when you contact Marcus customer service.
Frequently Asked Questions
Will closing my Marcus account hurt my credit?
No. Savings accounts do not report to credit bureaus and do not affect your credit score. Closing a Marcus savings account will have no impact on your credit history or credit rating.
Can I close my account if I still have money in it?
No. Marcus requires your balance to be zero before closure. You must transfer or withdraw all your money first. The process takes only a few minutes once your balance is zero.
How long does it take to close a Marcus account?
Most closures complete within one to two business days after you submit your request online or by phone. Mail requests take two to three weeks from receipt, plus mail delivery time. You will receive a confirmation email once the closure is processed.
What if I change my mind after requesting closure?
If you request closure online or by phone, contact Marcus customer service immediately at 1-888-1MARCUS before the account actually closes. They may be able to cancel the closure request if it has not yet been processed. Once the account is closed, Marcus cannot reopen it.
Will I get my accrued interest if I close my account?
Yes. Any interest that has accrued but not yet posted will be added to your account before closure and transferred or paid out with your final balance. You will not forfeit accrued interest by closing.