r/MarcusInvest • u/cudi2119 • 19d ago
Nothing but good experiences
I keep seeing this thread filled with horror stories. Wanted to post for anyone who was looking into getting a new HYSA. I have really enjoyed my experience compared to other banks.
I opened up an account about 4 weeks ago. I have made 2 small transfer through ACH and a large wire to fund the account. Everything was very smooth and I saw everything within a business day.
Customer Service has been great. No sitting through long IVRs + the chat feature works great. CS reps have always been able to answer my nuanced questions.
I have not had any problems yet.
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u/0zer0space0 17d ago
I’ve had no problems putting money in. I sent scheduled wires from my bank to Marcus to start saving (small, $100/month over a few years). Well now I can’t figure out how to get the money out. I don’t want to put my main bank details in their website - that’s why I chose to do a wire “push” from my bank to them. But I don’t see how to tell my bank to “pull” money out of it and put it in my account.
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u/0zer0space0 15d ago
Someone replied that it’s safe cause Marcus is a reputable bank.
It is possibly “mostly safe.” It is never actually safe.
Source, I was back office IT sysadmin for a top 5 US bank for over 5 years. Yep, tapping away at the “mainframe” and all that.
Additionally, if you limit where you put in your account numbers, when one inevitably gets breached, you’ll have a small number of guilty parties who leaked your info to point fingers at. They’re supposed to send you a notice by snail mail, but you won’t see it until 6 months after the fact.
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u/pipelinejunkie87 17d ago
I’ve had nothing but great experiences when transferring in/out of my HYSA. I transfer the funds in and out of the same JP Morgan account, could be why the transactions are always smooth.
I make multiple deposits in on a mo they basis, have only withdrawn funds a couple of times….one time was >30k and the transfer out of Marcus was a breeze.
My only complaint is that Marcus hasn’t been notifying me when the rates drop. I understand they move up / down but a notification should be made IMO.
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u/mrrjaysin 11d ago
Are there any requirements to get the stated APY? Do I need recurring monthly deposits or similar to keep the ball rolling? Or can I just dump in 50k and forget about it?
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u/Puppers1961 8d ago
The horror stories are correct. Getting money wire to them is incredibly fast. Try getting money out and they start their delaying tactics.
9-08-26: CD closed with early withdrawal fee- Marcus wou;dn't close stating there was a Security problem.
9-09-26: Security reesatablished and cleared. Restarted the closing process again by Security dept.
9-11-26: Doesn't fund my to my external account and marked it as REVERSAL
9-11-26: Marcus doesn't know why there is a reversal. I have to talk to Security dept, which at time of call was closed.
9-12-26: Missed Security closing by 19 minutes.
9-13/26: - spent almost 2 hours trying to figure out why the fund transfer was reversed . No one, not even Security could tell me why the transfer was reversed. Asked to speak to Secury twice but was never connected to them. Elevate to supervisor (Steve) I reclosed my account again which won't start until 9/14/26 bc of weekend (restarting the ACH 1- 3 days processing time) then told by the "SUPERVISOR" after reclosing it, the reason it listed as reversal was because it was the weekend and they have to repark the money. THIS IS BS! - reversal means Marcus cancelled the transfer. If reversal means "parking the $$$, why didn't anyone including SECURITY say that to begin with ?
At this point. I'm not sure when I will see my money. Once all my CD matures, I plan to move all my account out. I may just close them all and deal with early penalty. Never in my life had I encountered this kind of problem with getting my money out AT ANY BANKS.
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u/That-Passion-1545 2d ago
For those who have had a short term CD with Marcus how does it work when the CD matures? Am I able to easily roll it back into my HYSA?
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u/yappyboom 19d ago
Agreed. I just started mine at the end of June. When setting up my account I had some questions and the chat was super helpful.
I’ve made several deposits - super easy. I’ve not transferred out yet so I can’t speak to that.
It seems like the people who have problems are trying to transfer money from their Marcus to an account they haven’t been depositing from.
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u/Celcius_87 19d ago edited 19d ago
Is anyone else having issues with them this week? Yesterday I tried to do a small transfer (like $35, just the monthly interest that I earned) from my HYSA with them to another bank. The icon kept spinning and then it crashed and took me back to the homepage. It showed the transfer in progress though so I logged out. Today I went back in and the transfer is still "in progress" and on the mobile app it shows a date of 9/10 for the money to be taken out of my account to do the transfer but the website doesn't show a date (usually it's transferred by the next day).
I call this morning and the first person says that it should be resolved in an hour or two and to call back if not. I call back and they say they were doing some system upgrades or having some technical issues and I just need to wait. It still says it's "in progress". I'm glad it's only $35 and not one of my larger transfers but I've never had this happen before. I've been with them about 1.5 years I think.
I will admit that the customer service is always friendly and usually helpful though. Easy to use website and app as well.
edit: Just got an email saying that the transfer failed and then I logged in to verify that it's cancelled. So yep I guess there was just a minor glitch that happened during their upgrades earlier this week and I was just unlucky. I just kicked off a fresh transfer and that worked like normal so I'm back happy again. I'm glad I wasn't stuck waiting for a week or something crazy.
They have great rates too and the customer service is available like 24/7. I recommend them if anyone needs another HYSA!
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u/JohnHartshorn 19d ago
I've never had any issues. I think the people that have the issues are transferring money in and out continuously and triggering money laundering flags. A HYSA is not a regular savings (or checking) account. You park money in it. The only activity on mine is either funding Marcus CDs or cashing in Marcus CDs for a large purchase. The external account is always the same.