You can close a Marcus savings account online, by phone, or by mail — the fastest route is online through your account dashboard

Marcus does not charge a fee to close your account, and you can do it without visiting a branch because Marcus operates entirely online. You will need to withdraw or transfer any remaining balance before closing, and the account closure itself takes a few minutes if you go through the website. If you have an active loan with Marcus, closing your savings account does not affect it — the two are separate products.

The process differs slightly depending on whether you have a zero balance, an active balance, or pending transfers. Most people can complete the closure in one session, but if you have scheduled transfers or automatic deposits, those will need to stop first.

Key Takeaways

  • You must have a zero balance in your savings account before Marcus will allow you to close it.
  • The online method through your account dashboard is the fastest, taking just a few minutes once your balance is zero.
  • If you have automatic deposits or scheduled transfers, you will need to cancel those before closing the account.
  • Closing your Marcus savings account does not affect any Marcus loan you may have — they are separate products.
  • You can close the account by phone at 1-888-1MARCUS (1-888-162-7287) if you prefer not to use the website.

Withdraw or transfer your balance before closing

Marcus requires your account balance to be exactly zero before you can close it. If you have money in the account, you have two options: transfer it to another bank account or withdraw it. Most people transfer the balance because it is faster and you avoid the delay of waiting for a check or withdrawal to clear.

To transfer your balance, log into your Marcus account and go to the Transfers section. You can link an external bank account (usually takes one to two business days to verify) or transfer to another Marcus account if you have one. If you are withdrawing cash instead, Marcus will mail you a check, which typically arrives within five to seven business days.

Once your balance reaches zero and any pending transfers have completed, you are ready to close the account. Do not close the account while a transfer is in progress — wait until it shows as completed in your transaction history.

Close your account through the website

Log into your Marcus account at marcus.com and navigate to your account settings. Look for the option labeled "Close Account" or "Account Closure" — this is usually found under Account Settings or Profile. Marcus will ask you to confirm that your balance is zero and that you want to proceed.

You will also see a screen asking why you are closing the account. This is optional feedback for Marcus and does not affect whether your closure is processed. After you confirm, the account closure is when ready — you will receive a confirmation email within a few minutes.

Keep this confirmation email for your records. It contains your account closure date and a reference number. If you ever need to prove the account was closed, this email serves as documentation.

Close your account by phone if you prefer

Call Marcus customer service at 1-888-1MARCUS (1-888-162-7287). Have your account number and the last four digits of your Social Security number ready. A representative will verify your identity, confirm your balance is zero, and process the closure over the phone.

Phone closure takes about 10 to 15 minutes. The representative will send you a confirmation email after the call ends. This method is useful if you have questions about the process or if you run into any issues trying to close online.

Cancel automatic deposits and scheduled transfers first

If you have automatic deposits set up (such as direct deposit from your employer), you must cancel those before closing the account. Marcus will not allow you to close an account that has active automatic deposits scheduled. Log into your account and go to the Transfers or Deposits section to turn off any recurring transfers.

Similarly, if you have scheduled a one-time transfer that has not yet completed, wait for it to finish before closing. A transfer that is still pending will block the closure request. You can check the status of any pending transfers in your transaction history.

What happens after you close the account

Once closed, you cannot reopen the same account. If you want to use Marcus again in the future, you would need to open a new account. There is no waiting period — you can open a new account when ready if you change your mind.

Marcus will send you a final statement by mail or email (depending on your preferences) showing all activity up to the closure date. Keep this for your tax records if you earned interest on the account. If you had a Marcus loan, it continues as normal — closing your savings account does not affect your loan payments or terms.

Frequently Asked Questions

What if I have a pending transfer when I try to close?

Wait for the transfer to complete and show as finished in your transaction history. Once it is done, you can proceed with closing the account. A pending transfer will block the closure request, so you cannot close while one is in progress.

Can I close my Marcus savings account if I have a loan?

Yes. Your savings account and any loan you have are separate products. Closing the savings account does not affect your loan, and you can continue making loan payments normally. You do not need to do anything to your loan when you close the savings account.

Will I lose interest if I close before the end of the month?

No. Marcus calculates and credits interest daily, so you earn interest up to the day you close the account. Your final statement will show all interest earned through the closure date.

Can I reopen the same account after closing it?

No. Once you close an account, that specific account cannot be reopened. If you want to use Marcus again later, you would open a new account. There is no waiting period to open a new account.

How long does it take for the closure to be final?

The closure is when ready once you confirm it online or over the phone. You will receive a confirmation email within minutes. The account will no longer appear in your dashboard, and you will not be able to access it.