Consumer complaint received 2023-07-26
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other service problem — 
Company: GOLDMAN SACHS BANK USA (IN)

I linked a new external bank account with my Marcus Online Savings account in order to do a transfer ( or Wire ). My external bank account was opened with XXXX XXXX over the weekend and I was attempting to fund it with a portion of the available balance in my Marcus account. I scheduled a wire at XXXX XXXX est on Monday, XX/XX/XXXX and the money did not go. I called back in at XXXX and Marcus told me the reason they did not send it is because they couldn't verify that the receiving account had my name listed as one of the owners, despite it being linked. They stated that they tried to contact XXXX XXXX at their two different numbers at two points during the day and was unable to reach a representative. 

I called XXXX XXXX at XXXX XX/XX/23 to see what the issue was and they confirmed that, while busy, they were available from XXXX est time through XXXX XXXX est, so there shouldn't have been a reason for them not to reach someone. They did also confirm that they would not verify account ownership via voice call as part of their fraud policy and that verifying named ownership of an account is not a requirement for receipt of a wire as long as the routing and account number is correct. I called XXXX back directly after the conversation with XXXX XXXX and got the run around from several of their employees, stating the verification of ownership name on an account is a Marcus requirement and that they will not verify the information any other way than to verbally do so via phone call with that bank, and if the bank will not verify the information via phone then they will not approve the Wire or a transfer of funds ( which are the only two methods of moving money out of Marcus, which they advertise ). They stated that if I wanted to move funds to one of my other " linked and verified accounts '' that the funds should go same day and there wouldn't be an issue since the ownership ( name on the account ) had been verified already and the account ( s ) at XXXX or XXXX had been used for several transfers and wires in and out of the account before. I asked them to transfer the available balance of my online savings back to my XXXX account at XXXX XXXX  est XX/XX/23, meaning the funds should be available in my XXXX account same day. 

They never processed the wire and it is still sitting there as of this morning. For some reason, they are holding my funds, and preventing me from withdrawing them. I have spoken to several Supervisors, none of which are helpful and just continue to tell me they are sorry I feel a certain way about the situation or that they are sorry for the inconvenience but there isnt anything they can do. Several of their representatives have hung up on me this week while trying to get details about what is going on and why. I have not yelled, cussed, though am clearly frustrated in tone and demeanor since I can not get viable answers to my questions and they seem to be making up their own rules as they go. I am now half a week in with no access to my money, which I need to move to a new bank and their refusal to assist is a huge red flag. I have never had a returned item on my account, XXXX negative history, returned deposit items, etc. I maintain about half a XXXX dollars in monies with them between multiple accounts, all of which are in good standing, so to have this much trouble transferring funds out seems like a larger issue all around. Consumers should not have to go through this many hoops in order to access liquid funds in a savings account from a financial institution.