Consumer complaint received 2025-03-29 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: OR

Complaint narrative:
I am writing to formally lodge a complaint regarding the unacceptable handling of my funds and the repeated failures of Marcus by Goldman Sachs ' customer support team to resolve the issue. The following is a timeline of events outlining my experience : XX/XX/year> I transferred all funds from my No-Penalty CD with Marcus to an Online Savings account, also with Marcus. 

XX/XX/year> I initiated a {$7000.00} wire transfer for escrow on a home purchase. Customer support informed me that Marcus does not process escrow wires under {$10000.00}. After increasing the escrow to {$10000.00}, I was then told that Marcus would not process the wire at all, with no clear explanation. I then attempted to transfer funds to my personal joint XXXX account, but the transfer was denied because my wife is the primary account holder, despite us both being on the account. 

XX/XX/year> I attempted to transfer funds to a different XXXX account where I am the primary account holder. Marcus called me less than 20 minutes before their support lines closed to inform me the transfer had failed, advising me to call back the next day. 

XX/XX/year> I followed up with customer support and was informed that the transfer was flagged as a third-party transaction, which was incorrect, as the receiving account is personally owned by me. A representative suggested I close my Marcus account so that a check could be mailed to me. I initially began the process but then requested it be stopped, as this was not an ideal solution. I then attempted to transfer the funds to a personal account where I am the sole owner, but was later told the transfer was being held due to a security review. When I tried to follow up, I was informed that the appropriate department had left for the day and was instructed to call back the next morning. 

XX/XX/year> I called customer support at noon to resolve the issue. I was told that an agent was still reviewing my case, but no additional details were provided. Despite my insistence, I was denied access to speak with someone handling the issue and was again instructed to call back the following day. 

XX/XX/year> I called again at noon and was told to call back on Monday, XX/XX/XXXX, to check if the hold was still in place. 

XX/XX/year> I called XXXX XXXX XXXX and was escalated to a support representative, then a specialist. The specialist stated that because the original check came from my grandfather, the funds needed to be returned to himeven though the money has been in my Marcus by Goldman Sachs accounts since XX/XX/year>, accruing interest, and has been transferred between Marcus accounts. This issue regarding the check was never mentioned until now. The support representative was unable to provide any solutions or escalate the matter further to higher management or a customer success representative. Instead, they stated that they would escalate the case ( again ) and that someone would reach out to us " maybe before the end of the day, if not, within 1-3 business days. '' Additionally, the support representative refused to provide an email, case number, or direct contact for follow-up, leaving us no choice but to trust that someone will reach out. This has caused a tremendous amount of stress during the closing process for our home. 

It has now been nearly two weeks, and I have been unable to access a XXXX XXXX  of my own money. This has caused significant inconvenience and distress, particularly as these funds are intended for a home purchase. The lack of transparency, inconsistent policies, and failure to provide reasonable resolutions are wholly unacceptable.

Company response to consumer: Closed with explanation