Date Received: 2023-11-17
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I initiated a wire transfer as part of a home buying process for $ XXXX on XX/XX/XXXX, there were no questions asking about what type of account it was. I was informed on XX/XX/XXXX that Marcus by Goldman Sachs did not transfer out to Trust accounts- this makes no sense as they do wire to external escrow/title companies on a case by case basis. This initially delayed the process. I was then forced to change the type of account at my receiving bank. I initiated another wire transfer on Tuesday XX/XX/XXXX at XXXX XXXX. This was after the wire cut off time and was informed that the wire would be processed next day but may take 1-3 business days. I asked that the wire be expedited and was told that it could not be. I noted that this was very time sensitive and we needed the funds transferred over to meet the close date for our mortgage closing process for a new home. I followed up the next day after the transfer did not complete and asked what could be done, and the representative escalated to a manager to expedite, I was told it was through the first verification and would be ready. I called to check in this morning at XXXX EST to check and re-iterated that in order to meet close, I needed them to verify the wire transfer this morning ( Thursday ) - they said it had not in fact been verified. They had no way of contacting the department in charge of verification and no updates beyond that the wire was in queue. I was told to call in in an hour to check. I called multiple times today and there was no change and no insight into what stage of the process it was in. The wire has still not transferred. In fact the bank 's notes incorrectly said that I told them that I needed funds by Friday - I told them no fewer than 6 times in the last 3 days that I HAD to have the funds by Thursday AM. Understood that they say 1-3 business days, but the communication has been poor and there is no accountability about how to manage the wire process and intercept and escalate if there are issues. We are now going into the third business day, which essentially means the expediting was meaningless. We have now missed the deadline for our close of escrow. Everyone felt bad for me but they were powerless to do anything. Generally speaking as a commercial bank Marcus by Goldman has failed in my eyes. My money is held hostage as it clears wire transfer timing, the rules behind where you can/ca n't wire to are not clearly articulated- especially at time of wire which I did OVER THE PHONE, and we missed close and there was no accountability.
Company Response:
State: CA
Zip: 94114
Submitted Via: Web
Date Sent: 2023-11-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-16
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: In XXXX XXXX, four fraudulent EFTs were made from my MGS savings account to an unknown external account with which I had not authorized MGS to transact business. On XX/XX/2023, I notified MGS of the EFTs. MGS recognized the error, blocked my MGS account, provided me with a new account, and informed me that the funds, other than those subject to the fraud, would be immediately transferred to my new account for my use. On XX/XX/XXXX, and thereafter until XX/XX/XXXX, MGS had reversed its position by inexplicably placing a hard hold on the new account and a freeze on the funds not subject to the fraud. From XX/XX/XXXX, until MGS was forced to act to correct its error on XX/XX/XXXX by the fortuitous intervention of senior Goldman Sachs management, MGS arbitrarily retained the hold and freeze of my new account, and made no substantive effort to conduct and complete an investigation within XXXX business days of the XX/XX/XXXX notice-of-error, notwithstanding the fact that MGS had all the information it needed to resolve the matter on XX/XX/XXXX and anytime thereafter. Multiple similar complaints regarding MGS arbitrary holds on accounts and unreasonable delays in its EFT error investigations made to the Better Business Bureau, in the past XXXX months alone, demonstrate that my negative consumer experience is apparently only one example of an unlawful pattern and practice by MGS Fraud Department ( fraud ) in dealing with its customers, when EFT issues arise. I urge the COPB to open an investigation into MGS conduct about these alleged violations of consumer protection regulations.
Company Response:
State: WA
Zip: 980XX
Submitted Via: Web
Date Sent: 2023-11-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-16
Issue: Problem with a purchase shown on your statement
Subissue: Card was charged for something you did not purchase with the card
Consumer Complaint: In XX/XX/23 I had an unauthorized purchases of {$900.00}, {$870.00} and {$870.00}. This transactions was made online and purchased in a different state, as it it is now I spend a lot time for an explanation because after that my credit card balance is all the way to the top ever since those unauthorized transactions happened. And Im still getting unauthorized purchases. Last unauthorized purchases happen XX/XX/23 {$500.00} and XXXX more same day {$150.00}
Company Response:
State: CA
Zip: 94509
Submitted Via: Web
Date Sent: 2023-11-17
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-16
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: In XXXX XXXX XXXX I made an online purchase for {$580.00} with Merchant, XXXX upon receiving the order confirmation I noticed it had my old shipping address. I contacted the merchant for days and their Customer Service line said to email in they were not taking calls due to the holiday season I emailed in and by the thine the Merchant responded the package shipping could not be changed. They apologized and said they would make sure it did not ship and once it was back in warehouse issue my refund. They also offered me a 10 % discount on future orders for my inconvenience. I am not sure if they did what they were supposed to because they never followed through on the credit and Goldman Sachs Apple the card I used, I have disputed 7xs they keep closing the dispute in favor of the merchant. Saying it was delivered to the address on the order. I have submitted Goldman Sachs the email conversation where the merchant I interacted and the response in which they informed me they would get the package and apologized for the delay in my response. Now if the merchant didnt do as they said and it was delivered to my old address taht I moved why didnt they go back and get the receipt a package? Why I am responsible for this when I made every effort to get it to me and once I interacted with merchant I was assured they would do their part. I tried calling the merchant since Goldman Sachs is doing nothing for me and they said the financial institution, Goldman Sachs has to dispute it because it is over 90 days.
Company Response:
State: IL
Zip: 600XX
Submitted Via: Web
Date Sent: 2023-11-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-16
Issue: Problem with a company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: This company has violated their own terms and conditions of the following accounts XXXX and XXXX. As proof look at the attached exhibit. They had stated that they do not engage in non-affiliate or affiliate marketing sharing, or affiliate sharing of credit worthiness data however they deliberately sharing my nonpublic financial information with 3rd parties. Consumer reporting agencies such as XXXX, XXXX and XXXX is not an affiliate of Goldman Sachs bank nor are they " bureaus ''. The only true credit bureau is the CFPB and they DO NOT furnish consumer reports as stated in federal law. Additionally, Goldman Sachs can not collect on a discharged debt. This is now considered a certificate of indebtedness per the IRS and income can not be reported as it violates the Fair Credit Reporting Act which states that you can not furnish inaccurate information. Per the Privacy Act of 1974 as a federally protected consumer I am now revoking any and all authorization I the consumer may have given you written, non written, verbal, and nonverbal per 5 U.S. Code 552a. Goldman Sachs must refund the remaining balance of the consumer account upon its termination. This is your 7 day notice to return ALL money due from this consumer account. XXXX Treatment of credit balances ; account termination. ( a ) Credit balances. When a credit balance in excess of { {$1.00} } is created on a credit account ( through transmittal of funds to a creditor in excess of the total balance due on an account, through rebates of unearned finance charges or insurance premiums, or through amounts otherwise owed to or held for the benefit of the consumer ), the creditor shall : ( 1 ) Credit the amount of the credit balance to the consumer 's account ; ( 2 ) Refund any part of the remaining credit balance within seven business days from receipt of a written request from the consumer ; ( 3 ) Make a good faith effort to refund to the consumer by cash, check, or money order, or credit to a deposit account of the consumer, any part of the credit balance remaining in the account for more than six months. No further action is required if the consumer 's current location is not known to the creditor and can not be traced through the consumer 's last known address or telephone number. ( b ) Account termination. ( 1 ) A creditor shall not terminate an account prior to its expiration date solely because the consumer does not incur a finance charge. ( 2 ) Nothing in paragraph ( b ) ( 1 ) of this section prohibits a creditor from terminating an account that is inactive for three or more consecutive months. An account is inactive for purposes of this paragraph if no credit has been extended ( such as by purchase, cash advance or balance transfer ) and if the account has no outstanding balance. ( c ) Timely settlement of estate debts ( 1 ) General rule. ( i ) Reasonable policies and procedures required. For credit card accounts under an open-end ( not home-secured ) consumer credit plan, card issuers must adopt reasonable written policies and procedures designed to ensure that an administrator of an estate of a deceased accountholder can determine the amount of and pay any balance on the account in a timely manner. ( ii ) Application to joint accounts. Paragraph ( c ) of this section does not apply to the account of a deceased consumer if a joint accountholder remains on the account. ( 2 ) Timely statement of balance ( i ) Requirement. Upon request by the administrator of an estate, a card issuer must provide the administrator with the amount of the balance on a deceased consumer 's account in a timely manner. ( ii ) Safe harbor. For purposes of paragraph ( c ) ( 2 ) ( i ) of this section, providing the amount of the balance on the account within 30 days of receiving the request is deemed to be timely. ( 3 ) Limitations after receipt of request from administrator ( i ) Limitation on fees and increases in annual percentage rates. After receiving a request from the administrator of an estate for the amount of the balance on a deceased consumer 's account, a card issuer must not impose any fees on the account ( such as a late fee, annual fee, or over-the-limit fee ) or increase any annual percentage rate, except as provided by XXXX ( b ) ( XXXX ). ( ii ) Limitation on trailing or residual interest. A card issuer must waive or rebate any additional finance charge due to a periodic interest rate if payment in full of the balance disclosed pursuant to paragraph ( c ) ( XXXX ) of this section is received within 30 days after disclosure.
Company Response:
State: PA
Zip: 18017
Submitted Via: Web
Date Sent: 2023-11-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-16
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: I hope this letter finds you well. I am writing to express my gratitude for your prompt attention to my previous inquiry regarding the late payments on my accounts. I am pleased to acknowledge that the late payment entries have been corrected, and I want to thank you for your diligence in resolving this matter. Your swift action in rectifying the reporting errors is greatly appreciated. I understand the importance of accurate credit reporting, and I am relieved that my credit history now reflects the correct information. Those payments were made on time. I am requesting that the late payment markings be updated to reflect my accurate payment history. If there is any confusion, I suggest you contact me or GOLDMAN SACHS AND CO XXXX a customer service representative. Once again, thank you for your prompt and effective resolution of this matter. I appreciate your professionalism and commitment to customer satisfaction.
Company Response:
State: CA
Zip: 90266
Submitted Via: Web
Date Sent: 2023-11-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-16
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: I hope this letter finds you well. I am writing to express my gratitude for your prompt attention to my previous inquiry regarding the late payments on my accounts. I am pleased to acknowledge that the late payment entries have been corrected, and I want to thank you for your diligence in resolving this matter. Your swift action in rectifying the reporting errors is greatly appreciated. I understand the importance of accurate credit reporting, and I am relieved that my credit history now reflects the correct information. Those payments were made on time. I am requesting that the late payment markings be updated to reflect my accurate payment history. If there is any confusion, I suggest you contact me or APPLE CARD/GS BANK USA XXXX a customer service representative. Once again, thank you for your prompt and effective resolution of this matter. I appreciate your professionalism and commitment to customer satisfaction.
Company Response:
State: CA
Zip: 90266
Submitted Via: Web
Date Sent: 2023-11-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-15
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I made a transfer of over {$120000.00} from my Marcus savings account to the federal student loan servicer. This transaction went through without issue. XXXX weeks later, I tried to transfer funds to my linked XXXX Bank account that has been linked to this account for several months with several prior transfers to and from each other. The transaction provided an error when attempting using the XXXX website and app. After calling and XXXX minutes of being transferred around, the lady said that the account was locked pending verification of the validity of the past transaction for my student loans. I never received a call, text, email, letter or any other form of communication that the account had been locked. I told them, along with all sorts of verification information, that this was a valid and approved transaction. They refused to unlock the account until I called again during M-F normal business hours, then they would do a XXXX call with the loan officer at the federal student loan office to verify simultaneously from each party that this was a valid transaction. I just spent over XXXX on the phone to make this happen. This is completely unacceptable and they held onto my funds for several weeks longer than I would have liked preventing access to my own money. I have since withdrawn the final {$27000.00} and closed the account.
Company Response:
State: MN
Zip: 55416
Submitted Via: Web
Date Sent: 2023-11-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-14
Issue: Other features, terms, or problems
Subissue: Problem with customer service
Consumer Complaint: I have been arguing with apple card support for months now on these charges i have gone round and round no one at apple card nows what they are doing if i dint get my money back im going to sue them report them ro BBB and attornet general There are three charges that i dispuited XXXX market place for XXXX i spoke with a rep at apple two weeks and we disguessed this. The merchanet gave me refunds for the amounts of {$110.00} {$33.00} $ {$40.00} {$20.00} which adds upto {$210.00} .i sent back all of the merchandise which i upload tracking numbers showing this severall times. When i spoke with an apple rep two weeks ago told them this and he said to upload documents and rracking with i did. I get a message this morning saying that the charges will remain on my account i message in and get a nasty person that refused to listen to me and would not re open the dispuite. They are trying to fraud me of my money. I sent the whole entier order back and have uploaded documentation severall times it seems no one at apple card knows what they are doing. I have gone back and forth for months on this issue. I messaged in through there app severall times and finally spoke with someine two qeeks ago that said i had been given a partial refund and to uplod the documents to get a full refund i did that and they are stil giving me a hard time. The second charge of {$170.00} from XXXX again i returned all the merchandise and was told by apple card that the merchant gave me a refund but on my statement it shows merchant denied it. I am owed that money cause i returned all the mefchandise and sent tracking number. The third charge of {$180.00} from home depot i placed an order which home depot cancelled due to shorteges and iteams being out of stock. They never shipped the merchandise so i have nothing to return to them. They stated that they gave me a refund but never did. I want to make sure that this is understood. i placed another order from Home Depot for the samething and ended up making returns which they did refund me. But to be clear thats not the same order.
Company Response:
State: OH
Zip: 44087
Submitted Via: Web
Date Sent: 2023-11-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-14
Issue: Confusing or misleading advertising or marketing
Subissue:
Consumer Complaint: I received a text from a company that called themselves Greensky. they were thanking me for my request for a loan. I hadn't applied for any loan so i ignored it. A few days later I received another text telling me my loan had been approved. Again I ignored it thinking it was some sort of scam. A few days after that I received another text advising me that a comapny called XXXX XXXX XXXX had requested an {$8200.00} payment from my available loan for work they had done for me. I looked up Greensky and found that you had fined them for allowing contractors to take out {>= $1,000,000} in fake loans and were fined XXXX XXXX by the cfpb. Then I decided to send them a text saying that I new about their fine and was filing a complaint with you. When I went to send the text my phone warned me that I might be charge for it so I didn't send it.
Company Response:
State: FL
Zip: 34714
Submitted Via: Web
Date Sent: 2023-11-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A