Marcus does not offer wire transfers from savings accounts
Marcus by Goldman Sachs does not let you wire money directly from your savings account. If you need to send money to another bank or person, you will need to move the funds to a different account first — either a checking account at Marcus (if you have one) or an external bank account you control.
This is a real limitation of the Marcus product. Many online banks work the same way because they focus on savings rather than day-to-day payments. Understanding what you can and cannot do with your Marcus account helps you plan ahead, especially if you regularly need to send money to others.
Key Takeaways
- Marcus savings accounts cannot send wire transfers, but you can move money to an external checking account and wire from there.
- You can transfer funds from Marcus to another bank account using ACH transfer, which is free but takes one to three business days.
- If you have a Marcus checking account, you may be able to wire directly from that account depending on your account type.
- For urgent transfers, moving money to an external bank account and wiring same-day may be faster than waiting for an ACH transfer to complete.
Moving money out of Marcus to wire elsewhere
The most common path is to transfer your money from Marcus to a checking account at another bank, then wire from there. Marcus lets you link external bank accounts and move money between them using ACH transfer — a standard electronic transfer that is free and takes one to three business days.
To set this up, you log into your Marcus account, go to the transfer section, and add your external bank account by providing your routing number and account number. Once that account is verified (which takes a day or two), you can transfer money out whenever you need it. After the money lands in your external account, you can wire it from there using your other bank's wire service.
This route works well if you are not in a hurry. The trade-off is time: you wait for the ACH transfer to clear, then initiate the wire. If you need money to move the same day, this may not be fast enough.
Using a Marcus checking account for wires
If you have a Marcus checking account in addition to your savings account, you may be able to wire directly from checking. Marcus checking accounts do support certain payment methods, though wire transfer availability depends on your specific account type and when you opened it.
The best way to know for certain is to log into your Marcus checking account and look for a "Send Money" or "Wire Transfer" option in the menu. If you do not see one, contact Marcus customer service — they can tell you whether your account supports wires and, if not, what your options are.
Why Marcus savings accounts do not offer wires
Marcus is built as a savings-focused bank. Wire transfers require real-time processing and higher operational costs, which is why they are more common in checking accounts and traditional banks with physical branches. By keeping their product straightforward, Marcus can offer competitive interest rates on savings without those extra costs built in.
This design choice affects many online banks. If you need frequent wire capability, a checking account (at Marcus or elsewhere) is the right tool. If you save most of the time and only occasionally need to move money out, the ACH transfer route works fine and costs nothing.
Other ways to move money from Marcus
Beyond wires and ACH transfers, you have a few other options. You can request a check mailed to you, though this takes longer and is rarely the fastest route. Some people use their debit card (if their Marcus account includes one) to withdraw cash at ATMs, though this only works for amounts you can physically carry.
For regular payments to the same person or business, you might also set up a recurring ACH transfer. This is free and automatic, so if you send money to the same place each month, you do not have to initiate a new transfer each time.
Planning ahead when you know you will need a wire
If you know in advance that you will need to wire money, start the process early. Transfer your funds from Marcus to your external checking account a few days before you need the wire. This gives the ACH transfer time to clear and means you can wire when ready when you are ready.
If the wire is urgent and you do not have time for a multi-day ACH transfer, your fastest option is to use a checking account at another bank that you already have money in, or to deposit cash at a local bank branch and wire from there. Planning ahead prevents the stress of discovering too late that your savings account cannot wire.
Frequently Asked Questions
Can I wire money from Marcus to another person's bank account?
Not directly from your Marcus savings account. You would need to transfer money to a checking account first (either at Marcus or another bank), then wire from that checking account to the other person. The transfer out of Marcus is free via ACH and takes one to three business days.
How long does it take to transfer money from Marcus to another bank?
ACH transfers from Marcus to an external bank account typically take one to three business days. The exact timing depends on your external bank's processing schedule. If you need money faster, you may need to use a different account or method.
Does Marcus charge a fee to transfer money out?
No. Marcus does not charge fees for ACH transfers out of your account. However, your external bank might charge a fee on their end, though most banks do not charge for incoming ACH transfers.
What if I need to wire money today?
You cannot wire from Marcus savings today because the account does not support wires. If you have a Marcus checking account, check whether it offers wire transfers. Otherwise, you would need to use a different bank account you already have money in, or visit a bank branch in person.
Can I set up automatic wire transfers from Marcus?
Marcus savings accounts do not support automatic wire transfers. You can set up recurring ACH transfers to another bank account, which is free and automatic, but if you specifically need wires, you would need to initiate each one manually from a checking account.