Marcus does not require a minimum balance to open or keep a savings account

You can open a Marcus savings account with any amount of money, even $1. There is no minimum deposit required to start the account, and there is no minimum balance you must maintain to keep it open. This means you can begin saving at whatever pace works for your situation, without worrying about being charged fees or having your account closed because your balance dropped below a certain level.

The account stays open as long as you want it to, regardless of how much money is in it. If your balance reaches zero, the account remains active and ready to use whenever you deposit funds again.

Key Takeaways

  • Marcus savings accounts have no minimum opening deposit and no minimum balance requirement to keep the account open.
  • You will not face fees or account closure if your balance falls to zero or stays very low.
  • Interest accrues on whatever balance you do have, even if it is a small amount.
  • The account is designed to work for savers at any stage, from someone just starting out to someone building a larger emergency fund.

How interest works with any balance size

Marcus pays interest on your savings balance every day, and that interest is added to your account monthly. The interest rate is the same whether you have $10 or $10,000 in the account. Because interest compounds — meaning you earn interest on the interest you already earned — even small balances will grow over time, though the growth will be modest at first.

For example, if you deposit $50 and leave it untouched for a year, you will earn some interest on that $50. The amount will be small, but it will be real money added to your account at no cost to you. This is one reason people use savings accounts instead of keeping cash in a wallet or under a mattress: your money works for you automatically.

When you might want to start with a small deposit

Many people new to formal banking or returning after a gap start with a small deposit to test how the account works before moving larger amounts. You can deposit $5, make sure you understand how to transfer money in and out, watch how interest appears on your statement, and then move more money over once you are comfortable.

This approach also works if you are building an emergency fund slowly. You do not have to wait until you have saved $500 or $1,000 to open the account. You can open it today with whatever you have, add to it weekly or monthly as you are able, and watch it grow without any pressure to meet a balance threshold.

No fees based on your balance

Marcus does not charge monthly maintenance fees, overdraft fees, or any other balance-based fees. You will not be penalized for having a low balance, and you will not be charged just for keeping the account open. The only fees you might encounter are related to external actions — for instance, if you try to withdraw money using an ATM that is not part of the network Marcus uses — but these are not tied to how much money you have in the account.

This flat-fee structure means a savings account at Marcus works the same way whether you are saving $20 a month or $200 a month. The account itself costs nothing to maintain.

How to open an account with a small amount

When you open a Marcus account online, you will be asked to make an initial deposit. You can transfer money from another bank account you own, or you can link a bank account and have Marcus pull the funds. The minimum for this first deposit is $0 — you can technically open the account and fund it later — though most people transfer at least a small amount right away to set up the account.

After the account is open, you can add money whenever you want through transfers from your linked bank account. There is no limit on how many times you transfer or how small each transfer can be. Some people set up automatic transfers of $10 or $25 per week, which adds up over time without requiring a large lump sum upfront.

What happens if you do not use the account

If you open an account and never deposit money, or if you stop using it for a long period, Marcus will not close it or charge you for inactivity. The account will straightforward sit there, ready to use whenever you decide to add funds. There is no time limit on how long you can leave an account dormant before it becomes inactive in a way that affects you.

This means you can open an account as a backup savings option, use it only occasionally, and not worry about losing it or facing penalties. It is there when you need it.

Frequently Asked Questions

Can I open a Marcus account with zero dollars?

Technically yes, though in practice you will link a bank account during signup and most people transfer at least a small amount to set up it. Once the account is open, you can let it sit empty if you choose, and it will remain open with no fees.

Will Marcus close my account if my balance gets too low?

No. Marcus will not close your account or charge fees based on how much money you have in it. Your account stays open at zero balance if that is what happens.

Do I earn interest on small balances?

Yes. Interest accrues on any balance, no matter how small. If you have $5 in the account, you will earn interest on that $5 at the same rate as someone with $5,000. The dollar amount will be tiny, but it is real.

What if I want to move money out later?

You can transfer money out of your Marcus account to your linked bank account whenever you want. There is no minimum balance you must keep, and no penalty for withdrawing everything. Transfers typically take one to two business days.

Are there any hidden costs I should know about?

Marcus does not charge monthly fees, overdraft fees, or balance-based fees. The main cost to be aware of is if you withdraw cash from an ATM outside Marcus's network — that ATM operator may charge a fee — but this is not a Marcus charge and is not related to your balance.