>Will it work if I deposit all of it at once?

Yes, why do you think it wouldn't? $40k isn't a lot of money when it comes to electronic deposits/transfers

Since the $40k is already in a bank account, it'll be an ACH transfer, which you can initiate at Marcus. You just need to link your existing checking account on the Marcus website/app first.

Idk I’m just making sure

I see, thanks for the reply

Yup, I just moved $35,000 from my savings account. It's super easy to link. Enjoy the free $125 a month!

I opened a Marcus account last week.

No issues transferring about 80k from Ally to Marcus.

Request the money from the destination account (rather than sending from the original account) for greater peace of mind that your money will end up in the right place.

APY may change at any time before or after account is opened. What if tomorrow another bank offers even higher rates ? Can you easily close your account at Marcus ? Are there any lockups ?

As far I as know, no. They make it easy to deposit and withdraw from what I’ve seen

Should be good, but I hear you: about a month ago I opened an account and made a few smaller deposits just to be sure, and I had no problems at all, moving from both directions. Happy interest-making!

Yep same, I just did 250 to see if it goes smoothZ appreciate it!

Why the switch from ally to Marcus?

Using Marcus for T Bill ladders. Ally limits withdraws from savings while Marcus doesn’t. I leave a little excess in there as buffer that I’d like to still earn decent interest.

Ally is still my primary savings

No issue with doing it, I do it all the time. One piece of advice though. Always, always, always, do a test transaction first before working with any bank of any kind. I always initiate a $100 transfer, wait till it clears, make sure there's no issue and then, and only then, do I xfer the full amount and only do it FROM Marcus back to your origin account. This prevents any potential issue especially with incorrectly entered account numbers. It's no big deal to unravel a screwed-up $100 transfer, notsomuch a $40,000 one!

I've had the best luck with Marcus and Ally so you should have no issues. Quick transfers too.

Yeah, just link your local account to Marcus. Initiate the transfer from Marcus and they'll pull the funds from your bank.

Marcus has a very high ACH transfer limit ($125K/day push and $125K/day pull and you can call to get that increased), so moving $40K in a single transaction should be fine and is perfectly legal. My only caveat in general is make sure you don't need that money right away. With some banks, they may put a hold on the money for a period of time (may be up to 10 days or less) before you can then spend or move the money again. This is typical when you're a new account or are moving really large sums of money and this isn't specific to Marcus.

Thus if you need any of that $40K, it may be smart to keep a small portion at the old bank first and wait till the initial transfer clears before moving the funds over.

Any trouble with this? I want to link my HYSA to treasury direct but concerned about the time delays in transfers (takes 3-4 bd to get funds from checking to hysa)

No issues.

I treat Marcus as it’s own thing and don’t really transfer between it and my checking.

I have my own emergency fund at Ally if I need to transfer.

Yep, one big payment is best. I made a few sub accounts for budgeting purposes but transfers of that size are fine.

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