Consumer complaint received 2023-03-21
Company: GOLDMAN SACHS BANK USA
State: CA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
The following complaint is regarding an error made by Marcus by Goldman Sachs when I initiated an ACH transfer of funds from my Marcus savings account to an external bank. As a result of Marcus ' error, disorganized customer service, and lack of response, I have incurred monetary losses.

I initiated a transfer of funds in the amount of {$1000.00} from my Marcus savings account to an external bank linked to my online account with Marcus. The transaction posted on XX/XX/2023. Over the next couple of days each time I logged into my Marcus account, the information provided showed the transfer had been initiated and the funds had been withdrawn from my Marcus account On the third day, I checked both accounts and saw the funds had not been deposited into my external bank account as promised by Marcus.

I called the customer service team and spoke with an agent who told me the transfer had been canceled. I requested an explanation and told him that the online information on my account verified the transfer was in progress. He became nervous and hung up. I called back and repeated my story to another agent who provided conflicting and false information. She said the transfer was not canceled and the funds were withdrawn from my Marcus account and shoiuld have been received I called the other bank and repeated the story to the agent who transferred my call to her manager for help. I repeated the story to the manager and she said there was no record of a recent transfer from Marcus. I called Marcus again and spoke with a manager. I repeated the story and when the manager viewed the notes related to the transfer, he said the notes were confusing. He said he had never seen this type of error before. He said the transfer had been canceled by Marcus but he didn't know why it was canceled. He admitted it was Marcus '' error and offered to have the funds wired into my external bank account. However, by this time five hours had elapsed from my first call to Marcus and the funds could not be wired the same day. The manager said he would have the customer care team research this matter and contact me within 10 business days. When the customer care associate contacted me, they left a voicemail instructing me to call Marcus ' general customer service number and said anyone could help. I returned the call and spoke with an agent who could onlly address general questions. She informed me that the customer care team determined the transfer was canceled due to confusion. That was the entire explanation. No details about why they were confused. When I spoke with her supervisor and requested monetary relief, she implied the error was caused by me but did not provide an explanation.
I was told a resolution team member from Marcus would investigate my complaint and contact me within two business days. It's been three weeks and nobody from the resolution team has called.

Clearly, this was not my mistake. I never canceled the transfer, I had sufficient funds to cover the withdrawal and the accounts were linked.

I '' m requesting monetary relief for losses accrued due to Marcus ' error canceling my transfer of funds without my authorization, not notifying me of the canceled transfer, and providing false and conflicting information regarding the tranfer 's status. As a result, I was on the phone for 5.5 hours back and forth between both banks.

Im also requesting that Marcus ' team provide me with all the documents used to resolve this complaint.

Company response to consumer: Closed with monetary relief