You can close your Marcus account online, by phone, or by mail — the fastest route is the website if you have access to your login

Marcus by Goldman Sachs lets you close your savings account through three channels: your online account dashboard, a phone call to customer service, or a written request by mail. The online method takes minutes if you can log in. Phone closure takes about 15 minutes and requires you to verify your identity. Mail closure is slowest but works if you have no other option. Before you close, you need to withdraw or transfer your balance — Marcus will not close an account with money still in it.

The account closure itself is free. There is no early closure penalty, no waiting period, and no minimum balance requirement to close. Once you initiate closure, Marcus typically processes it within one to three business days, though the exact timing depends on which method you use and whether your account is already empty.

Key Takeaways

  • You must withdraw or transfer your full account balance before Marcus will close the account — the bank will not close an account that still holds money.
  • Online closure through your account dashboard is the fastest method and takes just a few minutes if you can log in.
  • Phone closure requires you to call Marcus customer service at 1-888-1MARCUS (1-888-162-7287) and verify your identity before the agent processes the request.
  • There is no fee, no penalty, and no waiting period to close a Marcus savings account at any time.
  • After you request closure, the account typically closes within one to three business days, and you will receive a confirmation email.

Closing your account online through the Marcus website

Log into your Marcus account at marcus.com using your username and password. Navigate to the account settings or profile section — this is usually found in the menu at the top right of the page or under a "Settings" tab. Look for an option labeled "Close Account" or "Account Closure." Marcus will ask you to confirm that your account balance is zero before you proceed. If your balance is not zero, you must transfer or withdraw the money first.

Once you confirm the balance is empty, Marcus will ask you to select a reason for closure — this is optional information and does not affect whether your request is processed. Review the closure terms, then click to confirm. You will receive an when ready on-screen confirmation and a confirmation email within a few minutes. The account typically closes within one business day when you use the online method.

Closing your account by phone

Call Marcus customer service at 1-888-1MARCUS (1-888-162-7287). The line is open Monday through Friday, 8 a.m. to 8 p.m. Eastern time, and Saturday 9 a.m. to 5 p.m. Eastern time. Tell the representative you want to close your savings account. They will ask you to verify your identity — be ready to provide your Social Security number, date of birth, and the last four digits of the phone number on file.

The representative will confirm that your account balance is zero. If it is not, they will walk you through transferring or withdrawing the remaining money before closing. Once the balance is confirmed empty, the representative will process the closure request. You will receive a confirmation number and a confirmation email. Phone closure typically takes one to three business days to complete.

Closing your account by mail

Write a letter requesting account closure and mail it to Marcus's address. Include your full name, account number, date of birth, and the last four digits of your Social Security number so Marcus can identify your account. State clearly that you want to close your savings account. Mail the letter to: Marcus by Goldman Sachs, P.O. Box 15298, Wilmington, DE 19850-5298.

Before you mail the letter, make sure your account balance is zero — transfer or withdraw all remaining funds first. Mail closure is the slowest method and typically takes five to ten business days from the date Marcus receives your letter, plus mail delivery time in both directions. Keep a copy of your letter for your records. If you do not receive a confirmation email within two weeks, call customer service to confirm the closure was processed.

What to do with your money before closing

Marcus will not close an account that still holds a balance. You have two options: transfer the money out or withdraw it. To transfer, log into your Marcus account and use the "Transfer Out" or "Move Money" feature to send funds to another bank account in your name. You will need the routing number and account number of the receiving bank. Transfers typically take one to three business days.

To withdraw, you can request a check by mail, which takes five to ten business days to arrive. Some readers find it faster to transfer to another account they already have — a checking account at another bank, for example — and then withdraw from there if they need cash. Either way, wait for the transfer or withdrawal to complete and show in your Marcus account as zero balance before you request closure.

What happens after you close

Once Marcus processes your closure request, you will no longer be able to log into the account. Any pending transfers or deposits will be returned to their source. If you had set up automatic transfers into the Marcus account, those will stop. You will not receive statements or tax documents for the closed account going forward, though Marcus will keep records of the account for tax purposes.

If you had earned interest on the account before closure, Marcus will report that interest on a 1099-INT form for tax year in which you earned it. You will receive this form by January 31 of the following year if the interest was $10 or more. Keep records of your final account statement for your own records, especially if you need to reference the interest earned for tax filing.

Frequently Asked Questions

Can I close my Marcus account if I still have money in it?

No. You must withdraw or transfer your full balance to zero before Marcus will process the closure. Once your balance is zero, you can close through any of the three methods — online, phone, or mail.

Is there a fee to close my Marcus account?

No. Marcus does not charge a fee to close a savings account, and there is no penalty for closing early. You can close at any time without cost.

How long does it take Marcus to close my account after I request it?

Online closure typically takes one business day. Phone and mail closure usually take one to three business days. Mail delivery time is additional — if you mail a closure letter, add five to ten business days for Marcus to receive it, plus mail delivery time.

What if I want to reopen my Marcus account after I close it?

You can open a new Marcus savings account at any time by visiting marcus.com and following the account opening process. You will need to provide your personal information and link a bank account for transfers, just as you would for a new account.

Will I still get my interest earnings after I close the account?

Yes. Marcus will pay any interest you earned through the date of closure. If the interest is $10 or more, you will receive a 1099-INT tax form by January 31 of the following year. The interest will be included in your final account statement.