Consumer complaint received 2023-01-16
Company: GOLDMAN SACHS BANK USA
State: FL
Product: Checking or savings account
Sub-product: Savings account
Issue: Closing an account
Sub-issue: Can't close your account

Complaint:
On XX/XX/22 I received an email from Marcus Bank by Goldman Sachs, Marcus.com, that they received funding to open a new account in the amount of {$250000.00} I opened the account because the funds were currently sitting in a brick and mortar bank, XXXX XXXX XXXX, where the interest paid was a fraction of one percent. Marcus offered an online account paying 3.3 percent. 
Two days later I received an email that there was a problem and they needed to speak to my mom who was diagnoses with XXXX and has no idea what is her current reality. 
She is currently in XXXX XXXX at an assisted living facility. The representative insisted that he must speak to her. I explained to him that I have a Power of Attorney as well as a note from her doctor explaining her XXXX  status. I offered to email him both in pdf format. 

He declined but did give me a mailing address where I could send them which I did. After a bit over a week of no contact I called them again and they confirmed receipt of the documents which had been sent to their legal department. They informed me that I will need to complete another form and have it notorized. Why did they not tell me this during the previous conversation when I got the mailing address to send the POA? Regardless, the representative told me that he would mail me the form which I never received. Today, a little over a week later I called again to mention that the form never arrived and the representative claimed that apparently the legal department was still evaluating my mailed in documents. Bottom of the pile???? Today I was told again that they would still require to speak to my mom. I explained, again, that the police confiscated my mom 's drivers license years ago deeming her to be too confused to be allowed to drive. I also mentioned that during my last visit with my mom she requested that I ask her brother to leave the room. Apparently they were playing cards and she was unhappy with how he was playing. Her brother died many years ago. 

It has now been a few days short of a month that they have held the funds and locked me out of the account. I told the representative that I was able to sell my mom 's house and arrange her health care using my current POA and explained that this situation is entirely not satisfactory to me and that once I jump through all of their required hoops and can access the account the first thing that I plan to do is close the account and send the funds back to the source account at XXXX XXXX XXXX. I no longer wish to do business with their bank and could she simply do that. She said that she could not. 

I explained to her that in order to file a complaint here or with XXXX XXXX regulators I must file an official complaint with her bank. I asked her if she can do that or if I should mail her a hard copy of the complaint. She said that she could do that. So here I am locked out of {$250000.00} which Marcus Bank should not have accepted from the beginning if the info provided to open it was insufficient. 

Your assistance would be greatly appreciated. Thank you!

Company response to consumer: Closed with explanation