Opening a Marcus savings account takes about 10 minutes online and requires a Social Security number, valid ID, and a funding source

You start at marcus.com, click "Open an Account," and answer questions about yourself: your name, address, date of birth, and Social Security number. Marcus will verify your identity using information from credit bureaus and public records. Once verified, you choose a username and password, link a bank account or debit card to fund your new account, and you're done—the account is active immediately, though transfers from external banks take one to two business days to arrive.

You don't need a minimum deposit to open the account. You can fund it with as little as $1 from an external bank account, or you can leave it empty and add money later. If you already have a Marcus account (such as a Marcus loan), opening a savings account is faster because Marcus already has your information on file.

Key Takeaways

  • You need a valid government ID, Social Security number, and access to an external bank account or debit card to complete the signup process.
  • The entire process happens online and takes about 10 minutes; your account is ready to use immediately after verification.
  • There is no minimum deposit required, and you can start with $1 or open the account empty and fund it whenever you choose.
  • Transfers from your external bank account arrive within one to two business days, but transfers from Marcus to another bank typically take the same timeframe.

What you need before you start

Gather these items before you begin: a valid government-issued ID (driver's license, passport, or state ID card), your Social Security number, and the routing and account number of a bank account or debit card you want to link. Marcus accepts transfers from most U.S. banks and credit unions. If you don't have an external account yet, you'll need to set one up first—Marcus cannot fund itself.

You also need an email address and a phone number. Marcus will send a verification code to your email and may call or text your phone to confirm your identity during signup. Make sure both are current and that you have access to them during the process.

Step-by-step signup process

Go to marcus.com and select "Open an Account." You'll see options for different products; choose "Savings Account." Enter your email address and create a password—Marcus requires at least 8 characters, including uppercase and lowercase letters, a number, and a special character.

Next, provide your personal information: full name, date of birth, address, and Social Security number. Marcus uses this to verify your identity against credit bureau records and public databases. The verification is automatic and usually completes within minutes. If there's a mismatch, Marcus will ask you to confirm additional details or upload a photo of your ID.

Once verified, you'll set up your username (different from your password), review the account terms, and link a funding source. You can link a bank account using its routing and account number, or add a debit card. If you link a bank account, Marcus will make two small test deposits (usually under $1 each) to confirm you own the account; you'll verify the amounts in your online banking to complete the link. If you use a debit card, the link is instant.

Review your information one final time and submit. Your account opens immediately, and you can begin using it right away—though money from an external bank account won't arrive for one to two business days.

Funding your account

You can transfer money into your Marcus savings account from any U.S. bank account or debit card you've linked. Transfers from a linked bank account take one to two business days to arrive. Debit card transfers are sometimes faster, though Marcus does not may provide next-day funding.

You can also set up recurring transfers—for example, $100 every payday—directly through your Marcus dashboard. This is useful if you want to automate savings without having to log in each time. To move money out of Marcus to another bank, initiate an external transfer from your Marcus account; it typically takes one to two business days.

Marcus does not accept cash deposits, checks, or wire transfers into a savings account. If you need to deposit cash, you'll have to deposit it into your linked bank account first, then transfer it to Marcus.

What happens after your account opens

Your Marcus savings account is fully functional as soon as verification completes. You can log in to marcus.com or use the Marcus mobile app (available on iOS and Android) to check your balance, make transfers, and view your interest earnings. Interest accrues daily and is deposited monthly, usually on the last business day of the month.

Marcus sends statements monthly via email. You can also download statements from your account dashboard at any time. If you need to contact Marcus, you can call their customer service line (the number is in your account), use the in-app chat, or email through the website. Marcus does not have physical branches.

Common issues during signup

If your identity verification fails, Marcus will ask you to upload a photo of your government ID and possibly answer additional security questions. This usually resolves the issue within a few minutes. If it doesn't, contact Marcus customer service—they can manually review your information.

If you're trying to link a bank account and the test deposits don't appear, wait a few business days; they sometimes take longer than expected. If they still don't show up after five business days, use the Marcus app or website to try linking the account again, or call customer service to link it manually.

If you receive an error message saying your Social Security number is already associated with a Marcus account, you may already have an account open (including a loan account). Log in with your email address to recover your existing account, or contact Marcus if you believe this is an error.

Frequently Asked Questions

Can I open a Marcus savings account if I don't have a bank account?

No. Marcus requires you to link an external bank account or debit card to fund your savings account. You'll need to open a checking account at another bank first. Many online banks and credit unions offer free checking accounts with no minimum balance.

Do I need a minimum deposit to open the account?

No. You can open a Marcus savings account with $0 and add money whenever you want. There is no monthly fee and no minimum balance requirement to keep the account open.

How long does it take to transfer money into Marcus?

Transfers from a linked bank account take one to two business days. Debit card transfers may be faster but are not may provide to arrive the same day. Weekends and holidays may add extra time.

What if I want to close my Marcus savings account?

You can close your account anytime through the Marcus website or app. Withdraw any remaining balance first; once the account is closed, you won't be able to access it. Marcus does not charge a fee to close an account.

Is my money safe in a Marcus savings account?

Yes. Marcus is a division of Goldman Sachs Bank USA, which is FDIC-insured. Your deposits are covered up to $250,000 per account holder, per bank, per ownership category. This means if Marcus fails, the FDIC will reimburse you up to that limit.