Consumer complaint received 2026-05-19 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: GOLDMAN SACHS BANK USA
State: FL

Complaint narrative:
In early XXXX I opened a cd with Marcus Bank, a division of Goldman Sachs. Soon after, I opened a savings account at this online only institution. A couple of months later, my wife and I ( aged XXXX and XXXX, respectively ) formed a Revocable Trust for the sole purpose of assuring our estate will pass to XXXX XXXX XXXX XXXX. When I phoned Marcus Bank customer service to find out how to re-title both accounts, I was told that all Marcus accounts must be titled in the name of a natural person. In other words, if we were both killed in an accident, for instance, all of our funds at Marcus had to pass to a living relative of one of us, which we absolutely do not want to happen. We therefore made the decision to close the cd, take the large interest penalty, move the funds to the savings account, and close that account and transfer the funds to XXXX XXXX ( XXXX XXXX XXXX ). I closed the cd in early may and had the funds moved to the savings account at Marcus. On XX/XX/XXXX XXXX signed into the Marcus account, which balance was then {$120000.00}, and I set up a link to our account at XXXX XXXX. The Marcus site showed the link was completed. I then attempted to transfer the entire amount to XXXX. A message popped up stating that I could not transfer {$120000.00} or more without phoning Marcus customer service. I changed the amount to transfer to {$120000.00} and the transfer was accepted. I have screen shots showing this from the Marcus website. The balance of my savings account immediately showed it as {$1500.00}, down {$120000.00}. Over the next two days, I checked the XXXX savings account online expecting it to show the transfer, but it didnt appear. On XX/XX/XXXX at XXXX am, I received an email from Marcus Bank saying Hi XXXX, Please give us a call about your account as soon as possible at XXXX our team will be available to assist you in this matter between XXXX XXXX and XXXX ET, seven days a week. No mention at all what this matter was. I didnt see the email to much later in the day. I signed into the Marcus website late in the day XX/XX/XXXX. The balance still showed only {$1500.00}, and it actually showed that the transfer transaction was complete and was posted ( I have the screenshot ). The funds still didnt show up at XXXX XXXX . I received a voicemail call from a man which was unintelligible except for the phone number which was the Marcus customer service number. I phoned that number ( XXXX ). A man calling himself XXXX, with a heavy foreign accent, took the call. He verified who I was by asking the questions that had been set up. He then told me that the transfer could not be completed until he verified with XXXX XXXX that I was the owner! I told him I was looking at his website which showed the transfer was completed and posted. He insisted that he had to confirm my ownership of the XXXX account. He told me he would contact XXXX ( XXXX XXXX ) to verify. He put me on hold for several minutes, came back on the line and told me he had someone on the line with XXXX with us. The lady at XXXX then told me she was going to ask me some questions to confirm my ownership of the account at XXXX. I then repeated to her what I had told XXXX, that I was looking at the Marcus website on my account and it showed the transfer complete and posted. She said they didnt have the funds at their bank and could I answer some questions to confirm my ownership. I asked XXXX, are you still on this call? He replied that he was, and that he was going to stay on during this process. At that point I got quite angry and said Are you telling me that I am about to share my secret questions to confirm my account ownership at XXXX while a stranger from Marcus bank is on the line listening? I said this whole thing is absurd! Im not going to do that. I then loudly berated Marcus bank and its parent company, telling XXXX that Goldman Sachs should have gone out of business for their part in the XXXX financial debacle, and my tax dollars went to bail them out, and now they were hanging on to my money for no reason other than greed. I told the lady from XXXX that this wasnt her fault, but that I was not going to give personal information to a stranger at an institution which I wanted nothing more to do with. I said Im hanging up now, Ill be filing a complain with the proper authorities against Goldman Sachs, and I hung up. Soon after, the Marcus website showed that the posted transfer of {$120000.00} had been reversed. I have screenshots proving all I have written above. There is no earthly reason why I should allow confidential security information from my XXXX Bank to be heard by an individual who probably isnt even an American citizen. It would be asking for identity theft. Addendum It is now the XXXX. I spoke with a supervisor ( XXXX ) at Marcus who told me that, because I already had a link with our XXXX XXXX, I could transfer the funds there without a confirmation. I specifically asked if I could transfer {$120.00} out today and the balance of {$1500.00} a few days later. She said I could do that. Long story short, no, they wouldnt let me do that. When I then tried to do it from the XXXX XXXX, Marcus would not allow link to be made because they would not confirm to Discover that I owned the Marcus account, despite that fact that I entered my Marcus username and password. Finally, I have now been told by yet another supervisor at Marcus, that I can snail mail a XXXX account statement to Goldman Sachs Bank USA at XXXX XXXX XXXX, XXXX XXXX XXXX. I write a cover letter to Marcus and am including it with the XXXX statement from XXXX Bank. This bank, Marcus, purposely delays allowing account holders to remove their money from their bank. They should be fined heavily. I have now spent upwards of five hours trying to get my money out of Marcus Bank.

Company response to consumer: Closed with explanation