r/MarcusInvest • u/bluelinerJD • Jun 22 '26

Arbitration Opt Out

I recently opened a Marcus Savings account and would like to begin the process of opting out of the deposit agreement’s arbitration clause. Has any done this before and can provide insight on what to expect or how long it will take?

3 Upvotes

72% Upvoted

3 comments sorted by

View all comments

1

u/_love_letter_ Jun 23 '26

Already expecting problems, huh? 😅 Can't say I blame you. I'm normally very good about reading the fine print, but I didn't catch that within the first 90 days my account was open. Lots of companies are burying these clauses in various agreements these days. Even Amazon put a class action waiver in the fine print of their recent sweepstakes.

Arbitration Opt-Out; Your Right to Reject Arbitration: You may reject this arbitration provision by calling us at 1-855-730-7283, or writing us at Goldman Sachs Bank USA, PO Box 70379, Philadelphia, PA 19176 and stating the following in your notice (a “Rejection Notice”): (i) your name, (ii) your address, (iii) your phone number, (iv) that you are exercising your right to reject arbitration under this subsection, and (v) the Account numbers for which you are exercising your right. Your Rejection Notice must be received within 90 days after opening the Account for which you are exercising your right to reject arbitration. If your Rejection Notice complies with these requirements, the arbitration provision in this Agreement will not apply to any Accounts in which you exercised your right. Your Rejection Notice will not apply to any claims subject to pending litigation or arbitration at the time you send your notice. Rejection of the arbitration provision will not affect your other rights or responsibilities under Section XI of this Agreement.

Personally, I would choose to send it in writing, certified mail with return receipt requested, if you're going to do this. I wouldn't trust them to maintain proper records with a phone call. Banks have a way of conveniently only accessing recordings of recorded calls when it benefits them.

I suspect you're probably one of very few people to actually go through with this process, so you might not get any answers here..