Consumer complaint received 2023-02-16
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Can't close your account
Company: GOLDMAN SACHS BANK USA (NC)

Marcus Goldman Sachs is engaging in a pattern of manipulation and dishonesty to prevent customers from withdrawing money from their institution. Here are the details : I opened a certificate of deposit account with Marcus at Goldman Sachs on XX/XX/XXXX in the amount of $ XXXX. I funded the account via an ACH transfer through my XXXX XXXX Account. The money was debited from my XXXX XXXX account and credited to the Marcus account on XX/XX/XXXX ( i.e., the same day it was opened ). 

After attempting to add my husband to the account and having a terrible customer service experience doing so, I tried to close the account. I was told via their customer service chat function that this could only be done by calling their customer service number. 

On XX/XX/XXXX I called and spoke to a representative named XXXX. I asked to close the account. He placed me on hold and the call was cut off. 

On XX/XX/XXXX I called and spoke to a representative named XXXX. I asked to close the account. She executed the account closure, but told me that the money would be on hold until XX/XX/XXXX, and so I needed to call back on that day to complete the account closure process. 

On XX/XX/XXXX I called and spoke to a representative named XXXX. She told me that the money was on hold until XX/XX/XXXX, and that I needed to call back on XX/XX/XXXX to close the account. 

On XX/XX/XXXX I called and spoke to a representative named XXXX. XXXX confirmed that the hold was removed from the funds, and he closed the account. He transferred the money back to the original XXXX XXXX account that the money originally came from via ACH transfer. XXXX told me that the money should be back in my XXXX XXXX account by XX/XX/XXXX at the latest. 

On XX/XX/XXXX, the money had not been credited to my XXXX XXXX account, nor did my Marcus account show that a debit, or account closure was in process. 

On XX/XX/XXXX, I called and spoke to a representative named XXXX. She stated that the money in my account was placed on another hold, and would not be released until XX/XX/XXXX. Therefore, I asked to speak to a supervisor. 

On XX/XX/XXXX, I next spoke to a supervisor named XXXX who confirmed that the money in the account was on hold, and that closing the account would take an additional 10 business days PLUS an additional 3 business days for the ACH transfer to be completed, which would be an additional 2.50 weeks total. I asked why there were so many holds being placed on the money, and why it was taking so long for the money to be transferred back to the account where it originated from, and XXXX said that this is just reflective of Marcuss policies and processes. 

I am filing this complaint because I believe that Marcus is engaging in a pattern of deception, inefficiency, and deliberately slow processing times in order to retain their customers monies as long as possible, and I believe this pattern needs oversight and intervention by the US Government. In addition, I still do not have my money, and my account is still not closed, despite many attempts and requests to have the account closed.