Date Received: 2022-05-05
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: About a week ago, I submitted instructions to set up an external account for a transfer out of my Marcus savings account opened earlier this year. After verifying the XXXX test deposits, my account was inexplicably locked and I was asked to phone in. As of this writing ( XX/XX/22 ), I have phoned in XXXX times to attempt to release the lock. I was asked on the first XXXX calls to await a return phone call within THREE MINUTES. I waited at least 30 minutes in each case and no call came. The third call dumped me into a voice mail box was that not attended. On the fourth call I was put on hold several times and I told the agent that these are XXXX XXXX XXXXecovery funds and to hold them is UNLAWFUL per the UCC-1 filed by the XXXX. I was told the account was being reviewed and I should call back in 1-2 MORE business days. This is absolutely insane. This account only has a few XXXX dollars in it and this is Goldman Sachs? Wow. I will not wait around all day long for a phone call. Today makes 5 calls with the same result. They keep asking me about a prior phone number. I've had TWO phone numbers assigned to me ( same cell phone ) for the last 10+ years. I was told to call back in 1-2 days as they are still reviewing and would not tell me anything else ( even after pressing them ). This is insane for an account with about {$2500.00} in it. I now want ALL my money out of this account sent to the destination account I specified. Please see the XXXX complaint also filed on this situation.
Company Response:
State: CA
Zip: 91104
Submitted Via: Web
Date Sent: 2022-05-05
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-04
Issue: Problem with additional add-on products or services
Subissue:
Consumer Complaint: Marcus Goldman Sachs state they paid an account ending XXXX XXXX XXXXI have no such account number. I spoke to XXXX I have only XXXX account which was paid by Goldman Sachs for {$640.00}. XXXX states they need a document from Goldman Sachs that states the full account number, date it was sent and that it cleared. Goldman Sachs is giving me the run around. Stating they dont have the full account number that it was sent on the XXXX of XXXX. They are not doing anything about this and now I am paying XXXX that was used to pay off account that isnt mine. I am struggling as it is. Unfair practices!
Company Response:
State: DE
Zip: 197XX
Submitted Via: Web
Date Sent: 2022-05-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-04
Issue: Other features, terms, or problems
Subissue: Problem with balance transfer
Consumer Complaint: We received notice in XX/XX/XXXX that our XXXX XXXX XXXX was being sold to Marcus by Goldman Sachs effective XX/XX/XXXX. We had been XXXX XXXX cardholders since XXXX, and believe that the reason our card was sold was that we never accrued a bit of interest during those 30+ years. We do not want to do online banking and demand a paper statement monthly. XXXX sent us instructions on how to register for the new card. After completing steps 1 and 2, they offered a tab that read " We do paper statements ''. After I clicked on this tab, I discovered that the only option they were offering was online payment of our balance. To continue, they demanded that I enter an account number to be used to pay our monthly balance. They refused to pick up on the customer service number they provided unless we entered an account number, so I abandoned the enrollment process after trying 3 more times to use the customer service number. We sent a check for {$450.00}, our check number XXXX, to XXXX XXXX dated XX/XX/XXXX and XXXX XXXX subsequently cashed it in payment for our final balance with them. An officer at our bank told us that this balance had been transferred in its entirety to XXXX, and that according to out records, we still owed it. Since then we have received numerous emails that our XXXX balance was past due and to complete our enrollment by entering an account number, and then paying a minimum payment of {$29.00}.
Company Response:
State: VT
Zip: 057XX
Submitted Via: Web
Date Sent: 2022-05-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-04
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/2021 I received a notification on my phone from my Apple Credit Card XXXX Goldman & Sachs ) that a purchase for {$40.00} was completed. I found that very strange because 1, I rarely use that card, and 2, I was in my patrol car and on my way to an off duty job so there was no way I could of made that purchase. I immediately called to report the obvious Fraudulent purchase and file a dispute. Well a little over a few weeks later, I received an email from Apple Support stating that after their so called Investigation, they concluded that that the purchase was accurate and legitimate. After another dispute and similar response, I obtained legal counsel. We have sent two letters but have not received any responses. I was instructed by my attorney to file these complaints before we move forward with a lawsuit. That way we show we have done everything to resolve this matter on our end.
Company Response:
State: GA
Zip: 30680
Submitted Via: Web
Date Sent: 2022-05-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-04
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the fair credit Reporting act XXXX Account # XXXX, has violated my rights. 15 USC 1681 Section 602 States I have the right to privacy. 15 USC 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions. 15 USC 1666B : A creditor may not treat a payment on a credit card account under open end consumer credit plan as late for any purpose.
Company Response:
State: MS
Zip: 386XX
Submitted Via: Web
Date Sent: 2022-05-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-03
Issue: Closing your account
Subissue: Can't close your account
Consumer Complaint: I have had a lot of problems with Goldman Sachs and I'm worried that they loose financial transactions and then I need to spend many hours fixing problems ( last issue took 7 connections with GS and a complaint to the CFPB to resolve ). I asked to have my account closed. I had the representative confirm that I have no outstanding balance and that there are no pending transactions. Even after that the representative wants me to agree that I will pay any outstanding balance. Given the unreliability of their previous activities, I am only willing to agree to the statement that I agree that I have paid my account in full and have no outstanding obligations to Goldman Sachs. I am not willing to commit to paying some nebulous charges that they may " find '' in the future. I want my account closed without being held hostage to GS for any future mishaps on their side.
Company Response:
State: TX
Zip: 75062
Submitted Via: Web
Date Sent: 2022-05-03
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-03
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: On XX/XX/XXXX I opened a 10 month CD with a stated APY of 1.10 % and stated interest rate of 1.094 %. On that same day, I funded the CD with {$120000.00}. On XX/XX/XXXX I received a letter stating that the CD would mature on XX/XX/XXXX and that the estimated balance at maturity was {$120000.00}. Based on simple math ( i.e. ignoring the impacts of compounding ), I felt the balance at maturity was understated. My simple math was as follows : {$120000.00} initial balance x 1.094 % interest rate/365 days per year x 306 day term ( XX/XX/XXXX through XX/XX/XXXX ) = {$1100.00}. Based on that math, I felt the balance at maturity should be at least {$120000.00} ( {$120000.00} initial balance + {$1100.00} interest ), which suggests to me that the balance at maturity I was provided was understated by at least {$270.00} ( {$120000.00} per my math less {$120000.00} provided by Marcus ). On XX/XX/XXXX ( i.e. the day I received the letter ), I called Marcus Customer Service, explained my concerns and requested that they provide details as to how they derived their figure. I spoke with a gentleman named XXXX and ultimately asked to speak with his supervisor ( XXXX XXXX. Both told me that they could not provide specifics about calculations for my account. However, they said that they would submit a request and that someone would get back to me within two business days ( either by phone or email ) and provide me with a day by day summary of their interest calculations. It has now been four full business days and I have had no response. With that as background, my request is to either get supporting detail for the {$120000.00} balance at maturity they provided or to acknowledge that their calculations were incorrect and to provide me with corrected ones.
Company Response:
State: OR
Zip: 97306
Submitted Via: Web
Date Sent: 2022-05-03
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-03
Issue: Other features, terms, or problems
Subissue: Problem with customer service
Consumer Complaint: I have expressed several times my discomfort with the company that manages apple card because they do not solve the problem of underregistration that causes a decrease in me. credit report, after insisting several times to solve the problem generated by themselves due to an improper charge they made for the amount of XXXX dollars and without authorization they returned that money to my account, money that was not mine because in my account only had XXXX dollars, money that belonged to the bank and that XXXX bank paid virtually, in the following days XXXX bank returned that money so that my account can remain in the real balance, months have passed and my apple card account continues to reflect a value that was not the real one.
Company Response:
State: UT
Zip: 84107
Submitted Via: Web
Date Sent: 2022-05-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-03
Issue: Problem when making payments
Subissue: Problem during payment process
Consumer Complaint: Here 's the timeline. XXXX : by Goldman Sachs took over the XXXX XXXX cards. XX/XX/2022 - Payment was sent in the amount of {$720.00} XX/XX/2022 - Check was cashed by Goldman SA ( Per image of the check when it cleared my back ). XX/XX/2022 - A payment was processed on my Card for {$720.00} XX/XX/2022 - Check Payment ( REVERAL ) hit my Card, {$720.00}, and XXXX interest charges of {$3.00} and {$14.00} were added. XX/XX/2022 - Called in to XXXX, to figure out what happened. I think a dispute was opened. - Later that day, my wife called to check her balance, and it was a - {$720.00}. - The issues is that these accounts are unrelated, and her account even had our last name misspelled. They should have never moved any of the payments from one card to another. And no one from my household opened any type of complaint with them. - I feel that I'm just lucky that this happened to me and my wife, what would have happened if this was a stranger 's account? - I've been on the phone with them at various times for more than 3 hours, have to explain it again every time I call in.
Company Response:
State: PA
Zip: 15136
Submitted Via: Web
Date Sent: 2022-05-19
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-05-03
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: I called Marcus by Goldman Sachs XXXX XX/XX/XXXX to close my online savings account. I went through the security checks and the customer service rep informed me that she would be initiating the wire and closing the account. On Friday XX/XX/XXXX we could see that money was still sitting in our XXXX account so called to find out when we'd receive the transfer. We were told our account had been 'forced closed ' due to a break in the terms and conditions of the account, and the money in our account would be sent back to the originating bank. I asked for more details : what does forced closed mean? What terms or conditions did we break? The agent said they couldn't provide any more info. I called on XX/XX/XXXX to see what was going on and again received the same response : forced close, no further details given. I called XX/XX/XXXX to double-check I'd understood correctly and asked for the case to be escalated to a verification expert, which I had learned from a previous call may have been the issue with the account, but I was told there was no one who could take my call. I demanded that my case be escalated and the agent told me someone from the verification team would call me back. Having heard nothing, I called again on XX/XX/XXXX to be told there was no more information they could provide, but that my account was forced close and it could take between XXXX and XXXX weeks for the money to be returned. I am in a state of disbelief. A bank took our money and won't give it back. Having done some research online I can see that this is happening regularly. XXXX opens accounts, takes the deposit, and then won't allow the consumers to transfer their money out. I am concerned that XXXX is experiencing cash flow issues or other financial issues and wanted to flag it with the FDIC and the CFPB. I would desperately love to discuss this with someone. Please contact me by XXXX or XXXX XXXX XXXX XXXX.
Company Response:
State: CA
Zip: 94941
Submitted Via: Web
Date Sent: 2022-05-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A