Consumer complaint received 2026-05-25 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: GOLDMAN SACHS BANK USA
State: PA

Complaint narrative:
I opened a savings account for {$100000.00} on XX/XX/XXXX online at Marcus Goldman Sachs. I was to receive a cash bonus on XX/XX/XXXX of {$1500.00}. My wife called earlier in the day on XX/XX/XXXX and talked to the Marcus Rep to let him know that we wanted to put a CD that was coming due on XX/XX/XXXX for a little over {$990000.00} into my savings account, but it came up an error message when we tried to set up instructions for the CD funds to be transferred to the savings account. The rep said that we could not do transfer funds into the savings account because the transfer would put over 1 million in the savings account, which is not permitted. The rep said there was an easy fix though. He said we could open a second savings account and set up the cd transfer instructions so the cd money would go into the 2nd account when it matured. He advised that he ( the rep ) should open the account on XX/XX/XXXX because he said that he has seen problems with CDs not closing correctly the day before cds mature. My wife also talked to him about our first account being tied to the cash back bonus. He said that we should call back when we were ready so the account was opened properly. My wife talked to me the evening of XX/XX/XXXX and we decided to open a savings. My wife and I attempted to open the savings acct, but it said that we had to call Marcus and gave us an application number. We called and talked to a rep who also had trouble opening the account. That Marcus rep transferred us to a Marcus account specialist. The account specialist opened the account and told us to fund it with our other savings account which we did. I was hesitant and voiced my concerns, but since it was after XXXX, it says right on the computer screen that it will not process until the next business day. It was around XXXX and it was the final day of the funding period to receive the {$1500.00}. So the marcus rep said that I did not need to be concerned about the withdraw. I was concerned. So I tried to move the money back when I got off the phone but in my panic I transferred another {$500.00} out of the cashback savings into the new savings. so then we chatted with Marcus online and told her what happened. The rep said that we would receive the {$1500.00} because we had well over the balance required at XXXX. It was around XXXX when we opened the account. I asked for a confirmation number and transcript of our conversation. she said that she was not able to do that but I could take screenshots on my phone as verification of our phone conversation which was her assurance that the new savings account was opened properly and I would receive the {$1500.00} cashback bonus. I have the screenshots. I forgot to ask her to just cancel the money transfers from the cashback savings account, so I called Marcus back. The marcus rep said the transfers went through already, which they were not suppose to until the next business day. I asked her how could that be? I was told and It said right on the transfer screen that any transfers after XXXX aren't done until the next business day. She did not know why it was immediate. My wife apologized and said that she was assured the cashback would not be affected, but we would feel a lot better if she ( the rep ) just reversed the initial transfer and the transfer we did incorrectly because we panicked. She said that wouldn't be a problem. But when she tried to reverse the transfers it said that my cashback bonus would be reduced to {$750.00}. I told her I didn't understand why, since I was depositing money into the cashback account, not out. That just made no sense to me. I told her not do the transfer because I did not want to lose my {$1500.00} bonus. She did not do the transfer. I told her that the rep I was chatting with online said that I qualified for the {$1500.00}. She said that Marcus would also be able to see that transfer was between the cashback savings account and the new savings that the marcus rep opened for us. She said we would not be disqualified from receiving the {$1500.00} because the money was transfered into another marcus account and marcus could see that we called in to open the account. On XX/XX/XXXX, {$750.00} was deposited into my account. I am filing a complaint because I should have received {$1500.00}. Initially the Marcus Rep said that I did not get the {$1500.00} because i did an external transfer. That is not true. I told her to look at my account again. It went into another Marcus Savings Account. An account that a Marcus Rep actually opened for us.

Company response to consumer: Closed with explanation