Beware: Marcus by GS is a borderline scam
Impossible to withdraw money from a Marcus account. I've been trying to withdraw my money for 2 weeks now and each time it fails with some new story. Each time I wait on hold, schedule teansfer, get told I have to wait 3-5 business days, then get told it didn't get sent due to some issue. It either fails due to an "internal issue" or because they couldn't verify my identity with Chase. We then went on a 3 way call with Chase who verified my identity with Marcus and Marcus "tried" to send the money again but learned they actually didn't send anything as I called back multiple days later to learn that they cancelled the transfer last minute. This is a nightmare bank to deal with and I'm convinced all these "issues" they having are deliberate in order to try to get you to give up transferring the money out. I have a house I need to close on yet they won't transfer my money out of their bank. I will NEVER do business with them ever again and will be filing complaint with CFPB. Edit: I was withdrawing ~100k but less than 115k Update: At long last I have succeeded in getting my money out via wire transfer.
I don’t understand why people don’t consider Tbil etfs vs these HYSA. Tbil etfs are very liquid, no state tax on dividends and there is hardly any capital gains except for the dividend. And the rate differential isn’t much.
I heard similar complaints and experiences about Marcus, looks like a common occurrence than elsewhere
Okay I’m trying to withdraw 10 bucks now.
We had a similar issue with Marcus while closing our house. They wouldn’t send the money to our account and had some stupid monthly limits so we ended up directly wiring the money to escrow from Marcus. Apparently that’s a separate process and if you get on a call with them they’ll do it for you.
I’m just putting my savings buying 4week bills 😌
Not a bad idea 🤔
Me too!!
So are you closing account with them? Thanks for letting us know.
You can ACH pull money. Go to chase or any bank, and transfer from Marcus to chase. Banks always want money in, not money out. So requesting from the "in" side can be smoother.
I asked about this in GS lounge previously and they blamed the customer lol
RIP customer service
Call and ask to speak to Goldman. Give him an earful.
Nah call Sachs instead
Sucks something is not working out for you OP. But I never had a problem with withdrawing from Marcus OP. I use the same and I withdrew the money to my chase account and got the money deposited within a day.
Sounds like you got lucky. I never had issues with any bank in the US. Never even had issues with shady crypto platforms. Marcus is the only one I can't get money out of and that's entirely because their process is very manually controlled. You put in a "request" to transfer your funds out instead of an actual ORDER. The dude who handles the process is someone you can't talk to, receives the request from a queue, then may decide to wipe their asshole with it. I'm convinced they are trying to prevent people from withdrawing money. This bank is a horror show
Agreed. I have been using Marcus for 10 years now and never had issues with them. I actually found their Customer support team very accommodating. Sorry to hear your experience OP.