Date Received: 2022-08-06
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: On XX/XX/2022, I opened a high-yield savings account ( HYSA ) with Marcus by Goldman Sachs XXXX Marcus ) with {$72000.00}. Shortly after, on XX/XX/2022, I transferred an additional {$1000.00} for a total of {$73000.00} in my Marcus by Goldman Sachs HYSA. On XX/XX/2022, I made a purchase of XXXX through XXXX using my HYSA. Two days after, on XX/XX/2022, Marcus made a transfer reversal. I called Marcus the following business day ( XX/XX/2022 ) to understand the reason for the reversal, and the Marcus associate explained that the reversal was done by XXXX. I called XXXX the same day, and they said that the reversal was done by Marcus. I then called Marcus back and spoke to a different associate, who explained to me that Marcus HYSA is an account that only serves to save cash, earn interest, and make transfers between financial institutions, not necessarily to make purchases e.g., purchase of an XXXX Therefore, that was the reason for the reversal of the funds. Keeping in mind what the Marcus associate explained, I decided to then transfer funds back to my linked account in Marcus ( my XXXX XXXX checking account ) on XX/XX/2022, and on XX/XX/2022 the funds were, once again, reversed into my Marcus account. I called Marcus and the associate, once again, mentioned that the transfer was reversed by XXXX XXXX, and that I need to talk to XXXX XXXX in order to resolve the issue. When I called XXXX XXXX they mentioned that they did not make any reversals and that I need to call Marcus back. I called Marcus and after waiting in line for an hour, I was then transferred to a specialist. The specialist explained that my account was going to be closed and the reason for closure could not be disclosed, per the agreement. I immediately asked the specialist about my funds and what was going to happen to them, whether they were going to be transferred back to my linked account in Marcus or sent via check. The specialist assured me that once the account closure is finalized that the funds were going to be reversed back into the account that originally funded the Marcus HYSA. Moreover, I explained to the specialist that I closed my XXXX XXXX savings account ( which is the account that originally funded the Marcus HYSA ) in order to avoid monthly fees from XXXX XXXX since all my funds were now sitting in my Marcus HYSA. The specialist said that they will then send the funds to the linked account in Marcus, which is my checking account with XXXX XXXX, and the associate confirmed the account number via phone. After waiting for the arrival of the funds for a few business days, I decided to call Marcus back and check on the status of my account and funds. The associate explained that my account is still being under review and the closure can take up to 10 business days and that the only way they can send my funds back to me is via a reversal of the funds to the account that originally funded the account or a check. I explained the issue again to the associate, and how the account that funded my Marcus account is no longer active, and the associate said that they will then have to send a check. After waiting a few weeks for the check, I called Marcus the week of the XXXX of XXXX. The associate said that my account was still under review and that no check had been issued yet. I escalate the issue to a manager/supervisor since the associate mentioned that the reason for the delay was not being disclosed to him by the account reviewer. Further, once I was transferred to a supervisor, the supervisor said that the reason for the delay can not be disclosed and that she will try her best to speed up the process. On XX/XX/XXXX, I received a call from a Marcus associate. The associate mentioned that my account is still under review and confirmed my mailing address via phone. This is the last time I spoke to a Marcus associate. Almost three mo nths after the creation and funding of my Marcus HYSA, I still do not have access to my funds. Ive called Marcus several times to get an explanation ( or an update ) and the issue has not been resolved after three months. The bank is withholding access to my funds.
Company Response:
State: CA
Zip: 92707
Submitted Via: Web
Date Sent: 2022-08-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-06
Issue: Credit monitoring or identity theft protection services
Subissue: Billing dispute for services
Consumer Complaint: On XX/XX/2022 I received a call from my XXXX XXXX XXXX XXXX phone number claiming there was fraud on my account. I asked them to verify my identify, so she stated my name, social security number, and address. I felt safe to proceed talking to her because the information stated was correct. She verified my identify by sending a code to my phone which I repeated back to her. I did not know that this individual was a scammer and the code I repeated back to her gave her access to my XXXX XXXX account. She then had access to my apple XXXX. The scammer opened an Apple credit card with my identify that same day. On XX/XX/2022 I called XXXX XXXX XXXX XXXX to verify the call and they did not verify it. I determined I had been scammed and began to process of shutting down my bank accounts and credit cards and opening new ones. I almost placed a freeze on all 3 credit bureaus, changed my primary email address, signed out of all my apple devices and created a new apple XXXX and changed all my passwords. My XXXX XXXX XXXX XXXX debit card was charged {$1000.00} which they are currently disputing and has credited me this amount as of XX/XX/XXXX. I called Apple and reported the credit card fraudulently opened in my name of which they are investigating now. I believe the case number is : XXXX Apple Credit Card is issued by Goldman Sachs Bank USA, XXXX XXXX XXXX XXXX which they asked me to send my complaints and reports to this branch to speed the process of shutting down the fraudulent credit card. They reported to me the individual had spent a {$1000.00} on the credit card and then they paid off that amount. The card currently had a {$5.00} balance on it when I talked to Apple.
Company Response:
State: CA
Zip: 92660
Submitted Via: Web
Date Sent: 2022-08-06
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-05
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: My XXXX card which I had for 20 years switched to Goldman Sach 's MARCUS card. I had always received a mailed bill which was paid in full promptly. The first month when bill did not come I went through long process to inquire and was told I had to establish an online account. or request to receive a mailed bill. They refused to adjust or correct the late fee. Second month a mailed bill did come late and was paid say day but two weeks later they did not show payment. Of course they did show payment arriving the day after second late fee was charged. Again tried to resolve even showing check was posted 2 days before they registered it as paid. I am a retired banker and it is obvious they are gaming the system to maximize late fees. Now I am canceling the card but can not help to feel sorry for the thousands of people they are fleecing every month. . Thanks, XXXX XXXX
Company Response:
State: NC
Zip: 270XX
Submitted Via: Web
Date Sent: 2022-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-05
Issue: Trouble using your card
Subissue: Can't use card to make purchases
Consumer Complaint: Account is locked and have talked to them ( Apple Card - Goldman Sachs on the phone. They say it will take up to 10 days to have it resolved? I need to make a payment on this card and cant because I cant even get into my account.
Company Response:
State: FL
Zip: 33487
Submitted Via: Web
Date Sent: 2022-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-05
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Dear Sirs, This is my complaint against GOLDMAN SACHS BANK USA. My company sent the payment # XXXX XXXX XXXX XXXX to XXXX XXXX XXXX XXXX. XX/XX/22 in the sum of XXXX USD, i.e. 4 month ago. My payment provider XXXX insists that the payment was executed. But this is not true. As XXXX confirmed later, the payment WAS NOT EXECUTED by their correspondent bank ( XXXX GOLDMAN SACHS BANK USA ). As a result, the money didnt reach the Beneficiarys account. XXXX confirms that weve provided them with all the requested documents at the same day of request. No one from the participants of the payment was not under the sanctions/restrictions.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-06
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: On XXXX I paid my Apple Card in full {$130.00}. Unfortunately I was in an auto accident That weekend and the rental car company kept my XXXX deposit. I knew the apple payment had not cleared so I called and asked them to not take the payment until XXXX XX/XX/2022. They agreed. However now my balance is doubled. They said its my banks fault but its not. Back in XXXX I put a hold on the card at my bank due to not realizing what the charge was. It said Goldman Sachs. I didnt realize until this happened that thats why my card wasnt being paid and I took the block off
Company Response:
State: NC
Zip: 280XX
Submitted Via: Web
Date Sent: 2022-08-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-06
Issue: Closing an account
Subissue: Company closed your account
Consumer Complaint: Opened a savings account with XXXX by Goldman Sachs on Monday XX/XX/2022 Transferred {$500.00} and {$250.00} on XX/XX/2022 Transferred {$800.00} on XX/XX/2022 Transferred {$450.00} on XX/XX/2022 Transferred {$150.00} on XX/XX/2022 XXXX by Goldman Sachs Savings account is temporarily locked and provides a number to call. I call for them to tell me that they closed my account and couldn't provide a reason for it. I asked who I can contact for my funds to be return or when they would be return and they told me they didn't know.
Company Response:
State: CA
Zip: 90001
Submitted Via: Web
Date Sent: 2022-08-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-05
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: On XX/XX/2022, I called Marcus by Goldman Sach to close ( 2 ) CD accounts and move the balance of $ XXXX to the saving account that I have with the bank. The staff over the phone told me that the funds would be completed transferring within 24hrs as it is within the same financial institute. Two days later, on XX/XX/2022, I called to follow up because the funds weren't transferred as I was told. The staff asked me to wait for another day. She had no clue why it didn't happen. Another two days passed, on XX/XX/2022, the funds were yet not transferred. It took me over an hour to talk to the staff and manager. The manager said she would escalate the case but can't guarantee the transfer. The phone got disconnected and nobody called me back. They did explain that the bank has received high volume of CD closing and the system has difficulties to process the requests. I strongly believe it isn't a valid reason. If it is a bug in the system, bank should solve it. It's unfair to ask the client to take the loss. Both bank and client should proceed as the terms specify. The bank shouldn't and must not deprive the client right 's on his/her money. As of now, I have spent quite a few hours and it goes nowhere. Most importantly my money is not secured at Marcus by Goldman Sach. The bank isn't doing its duty. Please help to bring this issue to the right team and close it ASAP.
Company Response:
State: CA
Zip: 926XX
Submitted Via: Web
Date Sent: 2022-08-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-05
Issue: Fees or interest
Subissue: Problem with fees
Consumer Complaint: Late fees were charged, then credited then charged again. Called Goldman Sachs on 3 occasions but could not get fee charges reversed. I ended up paying the fees so I could close the account. It was theirXXXX XXXX that they bought from XXXX XXXX. I never had any late fees or issues until Goldman Sachs took over. I found them very difficult to deal with.
Company Response:
State: CT
Zip: 067XX
Submitted Via: Web
Date Sent: 2022-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-08-05
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: On XX/XX/22, I was involved in an imposter scheme in which I received an email at my workplace on my work email from someone who claimed to be the CEO of my company in XXXX. I had just started working for this new company so I was relatively unfamiliar with all the people, but the name matched up. This person asked me to purchase some giftcards to gift to employees, which I did. At XXXX I purchased XXXX giftcards of {$500.00} each for a total of {$2000.00}, pursuant to his instructions. He asked me to send him pictures of the giftcards and receipts so he could record the expense in XXXX and then I was to give the giftcards to the employees. Unfortunately, I realized about an hour later that this was not the CEO of my corporation. When I checked the giftcards, the balance was now {$0.00} on all of them. That day I filed a police report in XXXX XXXX, IL, where my workplace is located and also filed a report with the FTC to report the scam. I let my credit company company know that day what had happened and that these transactions were the result of a fraud scheme. They opened an investigation into the transactions, but never asked for any supporting documentation. On XX/XX/22 they denied the claim. I reached out again and said that I had a police report as well as transcripts of the communications which could substantiated my claim, so on XX/XX/22 they reopened the investigation and asked that I send them a copy of the police report. I did so, to an email they provided, but never received any confirmation. On XX/XX/22 they again denied the claim saying that there was " no evidence of fraud. '' On XX/XX/22 I sent letters to some executives at the company explaining the situation. On XX/XX/22 I received a phone call from a woman who said she was an assistant to an executive at Goldman Sachs, and she said that upon looking at my account they had never received a copy of the police report I sent. I said I would be happy to resubmit it along with any other supporting documentation that might need. She said that she would check and let me know what to resubmit. A few days later on XX/XX/22 she called me back and let me know that there was nothing they could do -- I would have to seek to get my money back from the Police Department by pressing charges. I let her know that the Police Department had told me that they would most likely never find this person as they are almost certainly overseas. She said she was sorry. I was never even given a chance to submit any of the support documentation that they had never received.
Company Response:
State: IL
Zip: 60631
Submitted Via: Web
Date Sent: 2022-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A