Consumer complaint received 2023-07-01
Product: Checking or savings account — Savings account
Issue: Managing an account — Problem accessing account
Company: GOLDMAN SACHS BANK USA (VA)

For 3 months and counting, Goldman Sachs ( GS ) has denied me, an XXXXXXXX XXXX living on a fixed income, access to my Marcus Online Savings Account ( OSA ). This is my second CFPB complaint regarding this issue. 

Each time I contact GS they tell me there's something else I need to do to resolve this issue, an issue which GS has never explained to me. Here 's a summary of the rabbit holes GS has sent me down over the past 3 months : XXXX XXXX XXXX GS told me that if I confirm my personal identity information ( PII ) with their identity verification team, they would unlock my OSA. After providing my PII, my OSA remained locked. 

XXXX XXXX XXXXXX/XX/XXXX GS told me that if I get on a conference call with GS and XXXX XXXX, they would transfer my OSA balance to XXXX XXXX. After completing the call, GS unlocked my OSA, initiated the transfer to XXXX XXXX, relocked my OSA and recalled/reversed the transfer. 

XXXX XXXX XXXX  GS told me that if I submit an Affidavit of Identity ( AOI ) they would unlock my OSA. After receiving the AOI, GS unlocked my account only to relock it XXXX minutes later. 

XXXX XXXX XXXX GS told me that if I have the banks that funded my OSA recall/reverse the ACH the funding transfers that I would get my OSA money back, minus the OSA earned interest. I met with my XXXX XXXX and XXXXXXXX XXXX managers who told me it was impossible for them to recall/reverse an ACH that was initiated by GS. 

Question 1 : Why was my OSA locked upon transferring money to an external bank account that I had successfully transferred OSA funds to? 

Question 2 : Why hasn't GS mailed a check for my OSA account balance to the address associated to my OSA and verified in the GS requested AOI? 

The following details what's happened since submitting my first CFPB complaint ( Complaint ID XXXX ) on XX/XX/XXXX along with some associated questions for GS. 

In GS 's response to my XX/XX/XXXX complaint, GS stated that they were waiting for me to submit an Affidavit of Identity ( AOI ). I mailed the AOI to GS on XXXX using next-day shipping. After hearing nothing from GS for over two weeks and still not having access to my OSA, I called them on XX/XX/XXXX for a status. GS told me they'd received my AOI, that it looked good, and that they would unlock my OSA while I was on the call which they did- I verified it was unlocked using the OSA app. I immediately requested GS to close my OSA and mail me a check for the account balance but was told by GS XXXX XXXX that the account had been relocked, was under investigation and that I would get an email explaining the results of the investigation in 1-3 days. 

Question 3 : Why was my account unlocked on XX/XX/XXXX then relocked on XX/XX/XXXX after GS received the AOI they requested? 

After waiting a week without receiving an investigation results email and still not having access to my OSA, I called GS on XX/XX/XXXX and was told the investigation hadn't started. I immediately asked to talk to a GS supervisor but was told I had to submit a request to do so. I submitted a request and was told I would get a call from a supervisor on XX/XX/XXXX or XX/XX/XXXX. My son, who has my Power of Attorney, received a call from a supervisor on XX/XX/XXXX. However, I was unavailable to talk at that time and the supervisor refused to reschedule the call ( e.g., call later in the day ) per my son 's request. 

Question 4 : Why did I never receive an investigation results email from GS in 1-3 days as promised? 

Question 5 : Why to this day have I never received an investigation results email from GS? 

After hearing nothing from GS and still not having access to my OSA, I called GS on 6/2 for a status and was told by GS XXXX XXXX that my OSA had been CLOSED and that I would get an OSA closure letter in the mail in XXXX business days documenting the following : * Date OSA was closed * Reason OSA was closed * Current OSA balance * How to get my money, including interest, out of the closed OSA XXXX did tell me that I would need to have the banks that funded my OSA recall/reverse the ACH fund transfers. Shortly after this call, I received an email from GS stating that my account was closed. However, the email did not contain any of the bulleted information bulleted above. 

After waiting almost three weeks and not receiving an OSA closure letter, I received a copy of my XXXX, XXXX and XX/XX/XXXX OSA statements in the mail and a letter stating that the account was open! However, when I tried to access the account using the OSA app, I got the familiar " OSA Temporarily Locked '' message. 

Question 6 : Why did I never receive an account closure letter from GS in 7-10 business days as promised? 

Question 7 : Why to this day have I never received an account closure letter from GS? 

Question 8 : What is the status of my OSA? XXXX XXXX stated on XXXX that it was closed, the GS email I received on XXXX stated that it was closed, the GS letter I received on XX/XX/XXXX with the XXXX, XXXX and XXXX OSA statements stated that my OSA was open and the OSA app states today that it is temporarily locked. 

On XX/XX/XXXX I went to the XXXX banks ( XXXXXXXX XXXXXXXX XXXX XXXXXXXX XXXX  ) that funded my OSA and asked them to recall/reverse their respective ACH fund transfers as instructed by GS. Both the XXXX and XXXXXXXX XXXX mangers told me it's impossible for them to do that since GS, not their banks, initiated these ACH fund transfers. They said that GS has to mail me a check for my OSA balance. 

Question 9 : Why did GS instruct me to have my banks do something that's impossible? 

A few weeks ago, a representative from Virginia 's Fairfax County Department of Family Services Office came to my house regarding my son helping me get access to my OSA. As my son and I have mentioned to GS, he has my financial Power of Attorney. On top of that, my son has never talked to any GS representative regarding my account without me first explicitly telling the GS representative that he has my permission to do so. GS contacting this organization is harassment. I should be the one contacting this organization to file a complaint regarding GS denying me access to my OSA for over 3 months. 

Question 10 : On what grounds did GS contact the Fairfax County Office of Adult Protective Services? 

If I don't get meaningful and accurate answers to these questions and a check for the balance of my OSA, CFPB has advised me to contact the Virginia State Banking Regulator and Virginia Attorney General regarding my CFPB complaints.