Consumer complaint received 2024-06-05
Product: Checking or savings account — Savings account
Issue: Managing an account — Banking errors
Company: GOLDMAN SACHS BANK USA (TN)

While on vacation I initiated a transfer from my Marcus ( Goldman Sachs ) savings account to an external checking account ( XX/XX/year> ). This transfer occurred, after which the funds settled, and I submitted an ACH payment against the transferred funds. Before this ACH payment posted, Marcus ( Goldman Sachs ) unilaterally and without any notice to me recalled the funds, reversing the transfer, which causing my ACH payment to be returned for insufficient funds. Marcus ( Goldman Sachs ) did not attempt to contact me by telephone or email, and no notice, message, alert, or any other flag appeared in my account portal over the relevant period.

It was apparent that Marcus ( Goldman Sachs ) had no intention of contacting me regarding any issue with my account, the transfer, or its reason for reversing the transfer. 

I initiated contact with Marcus ( Goldman Sachs ) on several occasions between XX/XX/XXXX and XX/XX/XXXX in an effort to obtain an explanation and remedy from Marcus ( Goldman Sachs ). Marcus ( Goldman Sachs ) was not forthcoming, issuing boilerplate apologetic language while refusing to explain its actions and its unauthorized meddling in the funds which had. settled in my external checking account. 


A Marcus ( Goldman Sachs ) representative on XX/XX/XXXX stated that the settled transfer was reversed because I had recently changed my account address and a " hold '' was placed on my account- this makes no sense, as a " hold '' ostensibly would prevent transfers from being initiated. At any rate, when asked why I had not been called or emailed for verification of this address change, the Marcus ( Goldman Sachs ) representative falsely claimed that Marcus ( Goldman Sachs ) had attempted to call me on XX/XX/XXXX and left a voicemail ( I have no calls, missed calls, or voicemails from any Marcus ( Goldman Sachs ) representatives on XX/XX/XXXX or any other date during the relevant period ). 

A Marcus ( Goldman Sachs ) representative on XX/XX/XXXX stated that the settled transfer was reversed because I was vacationing outside of the United States- this explanation was offered only AFTER I stated that I was vacationing outside of the United States. This explanation is also believed to be untruthful as the transfer was initiated from my external checking account, Marcus ( Goldman Sachs ) would have no way of knowing where I was when this transfer was initiated. I requested Marcus ( Goldman Sachs ) to verify its knowledge of my precise location in an effort to ascertain the truth of Marcus ( Goldman Sachs ) second stated reason for reversing the settled transfer. Marcus ( Goldman Sachs ) was unable to provide the requested information. 

The above errors and unauthorized meddling in my external checking account by Marcus ( Goldman Sachs ) resulted in my ACH rent payment being declined for insufficient funds, incurring a {$35.00} service fee, and a {$60.00} fee for repayment via credit card while my external checking account bank continues to sort out the mess caused by the incompetence of Marcus ( Goldman Sachs ). 

Perhaps most concerning in this has been : 1 ) Marcus ( Goldman Sachs ) inability to perform basic banking transactions, 2 ) Marcus ( Goldman Sachs ) inability to take responsibility for and explain its actions to a customer whose account is in good standing an adequately funded for the transaction at issue, 3 ) Marcus ( Goldman Sachs ) refusal to take responsibility for the financial costs associated with its errors, and 4 ) Marcus ( Goldman Sachs ) representatives ' untruthful and conflicting explanations.