Consumer complaint received 2022-02-28
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Trouble using your card — Can't use card to make purchases
Company: GOLDMAN SACHS BANK USA (SD)

Goldman Sachs purchased our XXXX XXXX XXXX with XXXX XXXX. Our business was informed about the acquisition in letters that were sent in advance of the transfer. 

On XX/XX/XXXX I began to receive notifications that our cards were being declined. After a brief phone call with XXXX XXXX, they referred me to Goldman Sachs to resolve the issue. XXXX XXXX I called XXXX Goldman Sachs to find out the issue. The first agent could not find our account. So I called back to XXXX XXXX, who once again assured me that Goldman Sachs was the only one who could rectify the situation. 

While on hold calling back Goldman Sachs, we received the following email on XX/XX/XXXX at XXXX XXXX : Welcome to XXXX XXXX As a reminder, your XXXX Rewards Card account recently transitioned from XXXX  XXXX to Marcus by Goldman Sachs. 

Our records indicate that prior to the transition XXXX XXXX may have cancelled a payment you had scheduled. To avoid disruption with usage of your card, you can make a payment with XXXX by visiting marcus.com/gm and setting up your account in a few simple steps. Rest assured that any late fees will be waived on payments that were due from XX/XX/XXXX through XX/XX/XXXX. We will also make sure your credit report is not impacted due to the cancelation of this payment. 

Thank you for being a XXXX XXXX XXXX customer and we look forward to welcoming you to XXXX! 



Regards, XXXX by Goldman Sach We're here to help : XXXX 24 hours a day / 7 days a week Chat with us at marcus.com Please don't respond to this email. This mailbox isn't monitored and we don't want to miss your message. 
Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA and Goldman Sachs & Co. LLC, which are subsidiaries of The Goldman Sachs Group , Inc. Goldman Sachs Bank USA XXXX XXXX XXXX XXXX XXXX XXXX is the issuer of the XXXX XXXX XXXX . XXXX XXXX is solely responsible for the operation and administration of the Earnings program and points program. For more details about the XXXX XXXX Earnings program and points program, including redemption options, go to gmcard.com. 
XXXX Goldman Sachs & Co. LLC. All rights reserved. Member FDIC. 



We had a payment scheduled on XX/XX/XXXX through XXXX XXXX for our auto-pay statement in full - that was not processed. While holding to talk to a representative I followed the instructions per the email sent above. I, I created a login for Goldman Sachs and set up the account for auto-pay along with paying our statement balance in full that should have been processed on XXXX/XXXX/22. 

After connecting with an agent with Goldman Sach about the declines, they informed me that our card was in collections and that department is the only one who can remove the restriction. Then they informed me that the collections department is not open until Monday and there is nothing that can be done. I requested an escalation from the customer service rep and spoke with the representative 's supervisor, that reiterated the sentiment that they could do nothing until collections released the restriction. I will be calling back on XX/XX/XXXX22 to lift the restrictions as instructed. 

Our business card is being declined to vendors and for automated payments set up through the card during this entire time. We are receiving phone calls and email concerns from our vendors about the declines and notifications. We have had to additionally pay staff to work through the weekend handling the incoming payment declines and getting new financing aligned to proceed with now delayed orders. This not only reflects poorly on us as a business that we are being declined funds to pay our vendors but furthermore that supplies and materials are not being shipped because of the declined charges. Our company operates on expedited turnaround times for our customers as most of our projects are critical to the operations of businesses we serve. As a business, we pride ourselves on our relationships with our vendors and customers. We will now not only be inconvenienced by dealing with the declined payments for orders with our vendors but also now we must inform our customers that projects will be delayed. This is not only causing undue strain to our employees to resolve but also negatively reflects on the image and professional standards of our business with all involved. I am thoroughly disappointed in the professionalism of Goldman Sachs and how this transfer was handled.