Consumer complaint received 2025-04-15 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: GOLDMAN SACHS BANK USA
State: CA

Complaint narrative:
Wire not completed within 1 business day as promised. See detail of events below : XX/XX/year> - Called to inquire about wire transfers. Told no limit for wire transfers and no fee. No other limitations mentioned. 

XX/XX/year> - Called to initiate wire transfer to escrow account to complete home purchase. Was told that wires to escrow account are only done on a case-by-case basis and that I do not meet the " criteria '' to qualify. Would not divulge what the criteria was. Was advised that I am only allowed to wire to a personal account. Agreed to wire to personal checking account at Chase and then planned to wire money to escrow afterwards. Asked to wire full amount in savings account and then to close account afterwards. Wire initiated and since after business hours was told that it would be processed on XX/XX/year>. Told request would be expedited and completed within 1 business day. 

XX/XX/year> around XXXXXXXX XXXX  XXXX - Chatted on app to check on status of wire. Was told it was still in progress but should be done by end of day. 

XX/XX/year> around XXXXXXXX XXXX  XXXX - Noticed funds had been withdrawn from savings account but money did not enter receiving account yet. 

XX/XX/year> around XXXX XXXX XXXX - Checked account again and saw that funds were deposited back into savings account. 

XX/XX/year>XXXX XXXX XXXXXXXX XXXX  - Called to inquire why the wire had been reversed. Representative stated that wire could not be completed because account is tied to a CD account that is active. The CD 's maturity instructions were to deposit funds to savings account that was planned to be closed. Said that they would need to speak to joint account owner to update maturity instructions to deposit into a different account and that wire could then be processed. ( NOTE : If this was to be an issue, representative on XX/XX/year> that initiated wire and close of account should have advised to update maturity instructions of CD. In addition, wiring and closing account is two separate actions. Why couldn't bank complete wire and then contact me regarding issue with closing account? ) XX/XX/year> XXXXXXXX XXXX XXXX  - Called back with joint owner on the line to update CD maturity instructions. Updated instructions so that upon maturity, CD balance would deposit into a different account, not the savings account that was instructed to be closed upon wire completion. Initiated new wire request to wire full amount in savings account to personal checking account at XXXX and leave savings account open to avoid further issues. Told request would be expedited. 

XX/XX/year> XXXXXXXX XXXX XXXX - XXXXed on app to check on status of wire. Was told that wire request will be rejected because wire amount is greater than what is available. ( NOTE : Why is system now saying I asked to transfer a greater amount when I asked to wire full balance only? ) XX/XX/year>XXXX XXXX XXXXXXXX XXXX  - Called to get further details on issue. Was told there were no issues and that wire request is still in process. Asked for reassurance and representative said he would speak with a tier 2 specialist to reconfirm that there were no issues. After speaking with tier 2 specialist, representative stated that were issues found. Said the wire was to a brokerage account which is not allowed. However, request was to a checking account, not a brokerage account. Then told that now case was pending with fraud department. Was told there was nothing else they could do and I would need to call tomorrow morning to check on status.

Company response to consumer: Closed with explanation