Consumer complaint received 2024-04-16
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Can't close your account
Company: GOLDMAN SACHS BANK USA (CA)

My money is being unlawfully withheld from me by Marcus by Goldman Sachs Bank. There is currently {$36000.00} in my CD account, which matured on XX/XX/XXXX. I set up a closure of the account when it matured, and linked my credit union account ( XXXX XXXX XXXX ) for automatic transfer upon maturity. I called for the first time on XX/XX/XXXX in which they told me that the transfer had been blocked due to their inability to verify that the linked account was owned my me. So, we did a three way call with my credit union to verify my identity. They told me that everything was verified and that my funds would be transferred in 3-5 business days. I then waited the 5 business days, and after not receiving my money I called again on XX/XX/XXXX. They told me that the money had not been processed because even though the restriction was taken off, they still needed to manually submit the form to transfer the money. I asked them why they had not done this and they were unable to give me an answer. I then prompted them to manually submit the transfer of funds, which they said they did, and told me they would be transferred within 3-5 business days. Nothing was transferred. I then called them on XX/XX/XXXX in which they explained that the transfer had been blocked yet again due to a restriction on my account. I then received a call from them on XX/XX/XXXX that I missed because I was at work. I called them back that same day, and was told that all restrictions had been removed and I was transferred over to the department that transfers funds. I verified my credit union account and routing number and opted for a ACH transfer rather than wire. She told me that it would be 1-3 business days before the money would be in my credit union account. I called again on this present day, XX/XX/XXXX, as there is still no money in my personal credit union account, and the full balance of my CD remains at Marcus by Goldman Sachs. When I called this time, I was given multiple different contradicting answers, leading me to believe that I have been, and am currently being lied to. They said that while there are no restrictions on my account, that after the " manual transfer '' multiple cases were opened by the " back office '' but were unable to give me any information about the nature of these open cases, or any information about the " back office. '' I asked speak with someone in the back office department and when I was transferred someone ( XXXX ) picked up from the Saving Account department and was clearing using a voice distorter which may not be illegal but certainly feels shady and deceptive. He then transferred me to his supervisor ( XXXX ) and she told me that my funds could not be transferred because there were multiple cases being reviewed by another department. She could not give me the name of the department, the department had no phone number or email address that I could contact, and she could give me no information about the subject of the cases opened to investigate my account. All she could tell me was that they would reach out to me if they needed information, and additionally she could give me no information about the time-frame in which the cases would be resolved. This is a big problem for me as all of my life savings are in this CD account. I will be attending XXXX XXXX  in the XXXX  and was planning on using this money to pay for tuition. I can not believe that this is happening to me. However, I will not cease my efforts until my funds have been returned to me and my account with Marcus by Goldman Sachs has been closed.