Consumer complaint received 2020-08-13
Company: GOLDMAN SACHS BANK USA
State: MN
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I opened a Marcus savings account on or around XX/XX/2020, I funded it with a XXXX XXXX XXXX account. Over the next few months, I made over {$70000.00} of deposits from a XXXX XXXX XXXX checking account ( these can all be provided upone request ) and some additional smaller deposits from my personal XXXX and another XXXX XXXX XXXX account. On XX/XX/2020, I attempted to wire transfer money for a down payment on a property to a third party, it was at this time they informed me that they do not do that, which is inconvenient, but fine, no problem there. I then set up a transfer of {$71000.00} to my personal XXXX account for the down payment. 

The next morning, XX/XX/2020, I logged into my Marcus account to check on the status of my money and my account is locked ( it is still locked a day later ) so I can not see my balances. 

I call in to find out that my wire never happened, and only then do they tell me that I can not fund my account from a business account, which most of my money has come from. The service representative agrees that they should have caught it, and it is their fault. I then decide to attempt to close my accounts ( I have this one and another ) and spend the next hour doing that. The representative gives me a confirmation number for each ( XXXX, XXXX ) and says it may take up to 3 days to get my money, which would put me in breach of contract for my real estate purchase, putting % 5,000 earnest money at risk. The representative, who I did not get the name of, informs me that she has taken notes on the situation.

Later that day, I get a call from Marcus and they immediately ask for my date of birth and social, which is insanely unsafe practice - I inform the representative of this and she claims to have written notes and that I can call them back. I call them back from the website phone number and get a different representative. He informs me there are no notes from any of my previous calls, he also tells me that he has no idea what my confirmation numbers are for. This means that the representatives are either lying to the customers, or the note system is broken, I advise him to elevate that. Knowing this I get his name, it is XXXX. He tells me, that we need to close my second account, which I had already done earlier that day ( confirmation number XXXX ) - we go through that whole process again and he informs me he will put it in the notes and that there is no confirmation number. 

This whole time I am unable to login and see the amount or status of my money, and no one can tell me what is going on. This is more than {$75000.00} that I can not access and these problems should be caught not when I need to use my money, but when I am doing something that " isn't allowed ' like funding with a business account ( which really makes no sense as I could just move it into a personal account, then into the bank either way. It is 2 days in, and I really have no idea when I will have access to my {$75000.00}, this does not seem right. 

Not only that, this has cost me over a half day of wages trying to get around the fact that I am going to be in breach of a contract and do not have a spare {$75000.00} laying around. 

I do want to note that throughout this the representatives were extremely polite and apologized a lot for the incompetence of the bank.

Company response to consumer: Closed with explanation