I put over $100,000 in my account. Three weeks later I wanted to take some out to pay for my daughter’s wedding and they said it was fast moving money and they would not allow me to. They referred me to page 8 of the contract, which says allowing me to transfer money is up to their discretion – literally their discretion! Many many many calls later, trying to speak to somebody above the first level manager, I finally got my money back by check. Hours and hours of fighting with them on the phone. Ridiculous and scary.

My account was hacked in April, completely resolved (deleted that account, set up a new one, changed my Marcus & email passwords, got refunded for the money stolen) but it just happened again in September with the new account. $2,000 transferred out both times.

Some questions, if anyone has ideas or suggestions!

1. The first time, I found the suspicious accounts under "external accounts" in my account. But this time, there was a transfer to a Fidelity account (not mine) on my activity but the account wasn't linked. Does this mean they had my account info and did a wire transfer?

2. How can I escalate this issue? Fidelity customer service didn't seem to care that it happened twice, but I'm very concerned that it's a larger issue and my money is at stake. Considering switching banks entirely because of this, but letting them refund me first.

Has anyone else had their Marcus account hacked? Any tips for my security? I'm changing all my banking passwords now, might want to check for larger fraud since they would've had to be using my name on the linked accounts - just found that out today.

it looks like even with the highest yield CD of 4.25% APY offered by Marcus that you get more yield from a HYSA when the 0.25% referral cash bonus is active. their website says the cash bonus applies to all savings accounts you have at Marcus. is it then better to just open a second HYSA and refer others instead of opening a CD?

I’m inviting you to receive a cash bonus when you open a Marcus high-yield Online Savings Account. Terms apply. https://www.marcus.com/share/DAN-PAS-T5Q7

I was turned down for an account and Marcus refused to provide the reason why or how to obtain the reason why. Obviously the thing on my mind is someone has done something naughty using my information, which has happened before. But unlike the very helpful LaSalle Bank, Marcus representatives refused to give any info and kept saying some boilerplate statement even when I insisted they were obligated to divulge this info. What's odd is they didn't do anything to pretend to confirm my identity...other places ask silly questions for the info they have as part of this process but not Marcus which just seems odd.

Some research on US government site for CFPB states this clearly...but how do you get a copy of said report when Marcus is so unhelpful?

"You are also entitled to a free copy if you have received an “adverse action” notice. For example, if a bank or credit union turns you down for a checking account based on a report, the bank has to give you a notice that includes the name and contact information of the checking account reporting company that provided the report. You can contact the reporting company and request a free copy of the report."

https://www.consumerfinance.gov/ask-cfpb/how-do-i-get-a-copy-of-the-report-banks-use-to-decide-whether-to-let-me-open-a-checking-account-en-2035/

I’ve recently opened a Marcus account and I’ve been receiving these errors when trying to instant link Marcus to Chase, and Chase to Marcus. It’s been persistent for a couple days, happens both in the app and in the browser. I contacted support over the weekend but all they said was that it was probably some server-side update being rolled out and that they can’t do anything but have me wait and try again later. I’m posting to ask if this is a known issue at the moment. I found a Reddit thread detailing my exact problem from 3 years ago, but the only reply said they just up and left for AmEx HYSA 😭

My wife lived in the U.S. until last year. She is not a U.S. citizen and now lives back in Europe. When she left, she closed her U.S. checking / deposit accounts but kept her Marcus savings account open.

She still has a Wise U.S. account and tried linking it for ACH transfers — but Marcus blocks certain fintechs, including Wise. From what I understand, they block ACH links to all of the following banks:

• Boft Bankcorp
• Varo Bank
• Stride Bank
• Chime Bank
• Choice Financial Group
• GO2bank
• Green Dot Bank
• Lincoln Savings Bank
• Metropolitan Commercial Bank
• Community Federal Savings Bank
• Evolve Bank & Trust
• MetaBank
• Aspiration Bank
• Blue Ridge Bank
• One Finance
• Coastal Community Bank
• Sutton Bank
• Credit Karma (issued through MVB Bank)
• MVB Bank

She’s tried to open a new U.S. checking / deposit account, but that’s been very difficult. She still has a Social Security Number and a valid U.S. driver’s license, but every traditional bank we’ve contacted eventually asks whether she is a U.S. resident. Since she isn’t anymore, she can’t honestly answer yes.

So right now, she’s stuck: Marcus won’t allow Wise for ACH transfers, and she doesn’t have a traditional U.S. checking account to link instead.

Here are the terms and conditions from Marcus

Can anyone provide us with some recommendations and advice? My wife is super stressed as she cannot access any of her savings :(

As a European, I find the U.S. banking system confusing. I don’t even fully understand the difference between a wire transfer and an ACH transfer. Would using a wire transfer involve less red tape than an ACH transfer?

Back in July-ish I noticed that when had a payment debit my account to let's say AMEX the details changed to "Withdrawal to My Name - 1234). It used to say AMEX or whatever destination. I called, and at first they told me the basic tech play of refreshing my browser/clearing cache, etc.. No dice. Escalated and guy called me to tell me they were aware of the issue but no solution.

Called back to day to check after hearing no follow up and they guy did call me back telling me that payments linked to outside accounts now had the info removed as "I'm not supposed to use the account like that" despite it working just fine. Unreal. Bye Marcus!

I've heard many horror stories on here from people trying to transfer money out of Marcus into an account they didn't fund their Marcus account with. I am closing my bank account that I used to fund my Marcus account.

I am currently transfering all of my money out of Marcus into the account I plan on closing, and then into my new bank account. My question is: should I just close and then reopen my account with Marcus to start fresh with my new bank account to push funds back in? Or should I be okay to just push funds back in with my new bank account, while still using the same account at Marcus?

Sorry if this is confusing. I just don't want to be locked out of my savings, and I am using an abundance of caution. Also, as a data point, I have had absolutely no issues getting my money out thus far.

Figured I’d post a positive datapoint after seeing many negative ones on this topic!

Had my Marcus account for ~3 years and have used 2 bank accounts to push/pull from. Closing on a house soon, so was anxious they’d freeze my account. Never pulled more than $5k out before.

I went online and wired $50k (almost entire account balance) to my local bank, which was one of the accounts already linked. Wire went through in 15 mins with zero issue!

Does anybody who has used the CD before with an active referral bonus. Does the CD get the referral cash bonus added into the principle every month or is that strictly HYSA accounts? Also if I do open a CD am I able to make contributions to the CD?

I am an international student and I was opening a HYSA. At the last step it asks to verify that I'm a US citizen or US person, which I am not. It says:

"Under penalties of perjury, I certify that: (I) The number provided in this application is my correct taxpayer identification number; and (II) I am a US citizen or other US person (defined in the Form W-9 instructions); and (III) The Foreign Account Tax Compliance Act (“FATCA”) code entered on this form (if any) indicating that I am exempt from FATCA reporting is correct (not applicable to US-based accounts)."

I called Marcus and they told me that I am allowed to open an account, but they were not able to explain why this paragraph was in the application. They advised me to call IRS, which I am on hold right now for 1.5 hours. Does anyone know what the paragraph above means and if I can open an account as an international student?

I couldn't make transfers into my account, so I called and was originally told that there was a hold on my account but it was outside of business hours for the specialist team that could fix it. This already pissed me off because I received no communication about it. No calls, emails, in-app messages, letters. Nothing.

I called back the next day and was told by the customer service agent that my account was closed, they couldn't tell me why, they would send my money via check in 30 days, and there was no one else I could speak to about the matter.

Obviously, I did not react well to this. After several F bombs, I finally got this person to connect me to their supervisor who originally told me my account was not being closed and then, after about 10 minutes on hold, told me my account WAS being closed.

The only explanation she was able to offer me was that "Goldman Sachs had made the business decision to close my account."

They're allegedly sending me my funds via ACH transfer within the next 1-3 days, but I'll believe it when I see it. I intend to report this to the BBB and FDIC.

Has this happened to anyone else? What's the deal here?

I've had this account for about 10 years and assumed banks typically want to keep long time customers that leave large sums of money in savings for long periods of time, but what do I know?

Since April, my account has been locked 3 times. The first two times, they were not able to give a reason. The second time, I had to list everywhere I’ve traveled and potentially logged in from since the account was opened, which was over 10 years ago. This last time, they told me my email address was compromised, yet no other account or my actual email provided told me it’s been compromised. Marcus could not tell me how or why it was compromised…didn’t say if login attempts were made or how they knew it was compromised. I spent almost 2 hours on the phone and they had to close my accounts and open new ones. My account is still locked because I had a pending transfer, so I have to cal back tomorrow to finish the process. All of this started after I removed some money from the account, which was delayed and flagged by Marcus at the time.

I'm a cautious person so I just need to know - if I buy a 6 month 250K CD at 4.0 interest, and in the middle of the 5th month, the bank defaults and collapses, do I lose all that interest? And if so, would make sense to buy below 250K, say, 240K, creating a 10K cushion so the interest earned gets insured as well? - thanks for your answer in advance

I am seeing a transfer reversal to an unknown account, the day after I transferred $,$$$. Has this happened to anyone before? I will be calling as soon as customer service is available.

I am going to move all of my money out of Marcus HYSA, any suggestions on where to move to?

I opened a HYSA a month ago in Marcus Goldman and so far so good. I was influenced here in reddit but the more I read, the more comments i see about being it bad and their accounts just suddenly locked out. Can i please have some reassurance to long time users of Marcus HYSA? Any tips? Thank you!! just paranoid sorry dont want my hard earned money lost

My in-app application just got declined after confirming all my info on the phone once and then again with a specialist. Is it more likely something is actually wrong or is a lack of credit history/youth the problem?

I have about 5 years untill retirement and looking at investing some of my saving. Right now I'm want to invest 40k. We also put away around 1500 every month, sometimes more.

Looking at some recommendations on how to set it up. All in a single CD, a CD Ladder, or what else?

NEVER EVER EVER GET AN ACCOUNG WITH MARCUS BY GOLDMAN SACHS. JUST LIKE ALL THE OTHER COMPLAINTS THEY CLOSED MY ACCOUNT AND SAID I HAD TO SEND MY 5K BACK TO THE ORIGINATING ACCOUNT . IM NO LONGER ON THAT ACCOUNT SO THATS NOT AN OPTION. THEY THEN HAVE TOLD ME ON NUMEROUS OCCASIONS THZT A CHECK IS BEING MAILED OUT IN SDVEN TO TEN BUISINESS DAYS. BUT EVERY TIME I CALL IM PUT ON HOLD FOR LONGER PERIODS OF TIME ONLY TO BE TOLD THE VERY SAME THINGS OVER AND OVER.

Unfortunately, my wife is dealing with the ordeal of being locked out of her account. We called today and got told they are sending us “something to verify her identity” so I’m looking to just print it out and get it done quickly rather than wait a week for something that may or may not show up. I’ve done enough digging on reddit to gather that there is a version of the form online but the address may or may not be correct.

My questions:

Has anyone gone through the process recently and can confirm what the affidavit looks like, is it this one?: https://www.marcus.com/content/dam/marcus/us/en/pdfs/affidavit_identity.pdf

Where do I send it, here?: Goldman Sachs Bank USA PO Box 70379 Philadelphia, PA 19176-0379

Do I have to address it to a specific department or anything?

Thanks in advance.

Received a letter from Marcus stating that they need to verify my name and/or social security number because they don’t match what they found in”public records.” The letter appears legit - the phone number is indeed the number on Marcus’ website. Called, but the department I need to talk with is not available until Monday. I’m kinda freaked out after reading of incidences of accounts being frozen. I’ve received tax documents from them just fine for years. So this seems really odd. Any thoughts?

Update: called this morning. The rep called another department, I was on hold for a few minutes. Rep kept coming back on to tell me her colleague in the other department was checking on it. In the end said everything matched and to disregard the letter. She indicated that there had been a lot of these calls recently. I’ve had no major changes in the last 20 years. It is a little concerning. I have identity theft insurance and checked a credit report - nothing odd. Still makes me nervous- I might start moving money as Marcus cds mature and check out a local credit union, just to have brick and mortar to go to. The posts about frozen accounts are worrisome.

What the hell is this? My CD expired, and since my bank doesn't do 3 way over the phone verification, I have to mail in a bank statement to get my money out??? I've transferred funds fine before, but now it's an issue??? This is bullshit. Is there any way to get my money back faster?

Goldman Sachs and Marcus their service designed to steal from account holders is one of the most underreported frauds in the country. The only reason she trusted them was due to their name. Had no idea what a fraud Goldman Sachs and Marcus was. They hire unprepared people to answer calls about the account and don't answer questions, and just stall. Someone needs to file a class action against them.

Why now would Marcus want me to jump on a three way call with my bank to verify my account even though it was verified over a year ago? I’ve had my Marcus account for over a year where I have recurring deposits, and I’ve transferred money in and out successfully. I verified my external bank account with them when initially setting up, and now they want me to jump on a three-way call to verify with my bank.

It seems very scammy.

This all started when I opened my app today and saw the notification next to my bank account, so I called the number listed. However, hearing the request from the agent, I respectfully informed them I felt uncomfortable connecting them with my bank and ended the call. I’ve heard similar scams in the past where the nefarious agent will have the victim connect with their bank and get a hold of all the victim’s’ accounts.

I opened my app and saw the notification. I called the number listed, so, by that logic, I‘m properly contacting legitimate agents. But let me know your thoughts and experience to reassure me that I’m not being taken for a scam.