Consumer complaint received 2024-08-23 00:00:00
Product: Checking or savings account — Savings account
Issue: Closing an account — Company closed your account
Company: GOLDMAN SACHS BANK USA
State: PR

Complaint narrative:
Summary I opened a saving account with Marcus by Goldman Sachs in XX/XX/2024 and transferred money without issue. Ever since the day after the money transfer I have been locked out of my money. 
They give a difference excuse every time I call for support. 
They originally said my account was unilaterally closed. 
Their provided timelines to resolve the issue ( i.e., return my money ) keep changing and always encounter new issues impeding the resolution. 
They unequivocally lied to me when their representative/specialist informed me that the account was unilaterally closed by them. 

Timeline ( thus far, everything occurred this year -i.eXXXX XXXX XXXX  XX/XX/XXXX opened savings account with the help of a specialist via phone calls and online authenticated multiple times XX/XX/XXXX transferred {$5000.00} into Marcus GOLDMAN SACHS XXXX XXXX XXXX  COLLECTION from my XXXX XXXX XXXXXXXX checking account. 
XXXX XXXX XXXX XXXXXXXX of account has been open for more than a decade. 
XX/XX/XXXX can't access my account anymore ( phone app ) Called in and specialist tells me the account has been closed unilaterally That they are entitled to close it and that my money should be returned in 10 business days authenticated multiple times XX/XX/XXXX receive email welcoming me to the new Marcus by Goldman Sachs savings account ( assumed automated email from yesterday ) XX/XX/XXXX phone call to support and escalation to specialist XXXX (? ) It turns out not closed but under investigation. 
They say it takes an average of 7 days to close an investigation. 
Every time I call, I have to provide my info and password ( secret word ) to to authenticate ; Multiple times on a call. 
Then the specialist calls me on the phone and does it one more time I told them in the recorded line that they lied to me on the previous call and that I no longer trust them and that I want my money returned. 
I asked for the information he provided me be made available to me via email or via text message or mail ( to the info he has in my account ) he refused ; my only recourse is the recording they took. 
XX/XX/XXXX Received online savings account statement via mail ( USPS ) XX/XX/XXXX another call XXXX specialist XXXX security department, can't authenticate me now for some reason. 
said will take up to 7 business days supposedly they need another way from the last department. 
I asked to be transferred to their manager I provided her all the info she requested XXXX XXXX from security department gave her My name Last four digits of my social security number. 
Birthday secret word driver license state manager, no one above her according to her can't authenticate me, can't help me Note that I have authenticated with their specialists at least twice per call until now. 

Every single time I contact them, they come up with some other excuse that doesn't seem plausible and ultimately feels off the cuff. They are inconsistent and contradict each other : on XX/XX/XXXX, I was told in no uncertain terms that my account was closed, then that it was open but under investigation, now somehow they can't or won't authenticate me. 

The fact that they refuse to give me anything in writing is concerning too. It feels XXXX. Only the end of month statement for XXXX has been sent ( the XX/XX/XXXX letter ). 

They simply won't return my money. They have information on the account from which the money was deposited ( as required by various US laws ), they can effortlessly return it to the place it came from without any real security concern. 

I have checked the XXXX XXXX XXXX XXXX XXXX ). There is a clear pattern that they customarily pull these shenanigansXXXX XXXX XXXX XXXXXXXX Ultimately, what matters is that I opened the saving account, they quickly received my money ( without any issue from anotheXXXX XXXX XXXX XXXX  and have now effectively cut me off my money. This is contrary to everything that is sacred and respected about the US banking and financial system. 

They are not abiding by regular rules, and this now feels like a scam. If they have an issue with my money, return to sender and report it to an actual law enforcement agency to conduct a real investigation. Presently, they have sequestered my money in what should, otherwise, be a safe saving account. 

This is a misbehaving bank, and they are lying to customers ( me in this case, but apparently many based on the XXXX  reviews ).

Company response to consumer: Closed with explanation