Consumer complaint received 2022-06-16 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: DC

Complaint narrative:
I am filing a complaint against Marcus : Goldman Sachs ( Marcus ) and XXXX. On XX/XX/2022, I transferred {$7500.00} from my XXXX Savings Account to my Marcus High Yield Savings Account. On XX/XX/2022, Marcus completed a reverse transfer of the XX/XX/XXXX transaction without my authorization. Marcus claims that it issued the reverse transfer because it never received the transfer from XXXX. Conversely, XXXX claims that it sent the transfer to Marcus, that Marcus accepted the transfer, and then debited {$7500.00} from my savings account. As a result, I am missing {$7500.00} since the money was debited from my XXXX Savings Account on XX/XX/2022. The money is no longer reflected in my Marcus High Yield Savings Account or was returned to my XXXX Savings Account following the XX/XX/XXXX reverse transfer. 

Concerned with this missing money, I have contacted both institutions on several occasions, with each institution giving me different stories as to where my money is and who is to blame. I contacted XXXX on the following dates : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/2022, and spoke to several customer service representatives and managers. On XX/XX/2022, XXXX, a XXXX customer service representative, informed me that he could see a pending transaction from Marcus and that I should receive that deposit later that evening or the next morning. On XX/XX/2022, I did not receive that money and contacted XXXX again. I spoke to three managers to discuss XXXX information and assurance that I would receive my money, to which XXXX, a XXXX manager, said that XXXX made an error and that there were no pending transactions from Marcus. Similarly, managers XXXX and XXXX also informed me that there were no pending transactions from Marcus. All three managers informed me that XXXX issued the transfer, that Marcus received the transfer for {$7500.00}, and then XXXX debited my account for that transfer. 

Similarly, I contacted Marcus : Goldman Sachs on the following dates : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/2022. Originally, Marcus informed me that it never received my transfer and that XXXX stopped it due to an error. Marcus provided me the following ACH Trace Number, XXXX, for this transaction. As illustrated in the attachments I provided, it appears that Marcus originally credited my account {$7500.00} on XX/XX/XXXX, then completed a reverse transfer, without my authorization, on XX/XX/XXXX to XXXX. Yet, that reverse transfer has not been credited to my XXXX Savings Account to date. 
I attempted to schedule a conference call between the two financial institutions on XX/XX/2022, to discuss this irregularity and to find my money. XXXX denied my request. As a result, I filed disputes over the XX/XX/XXXX and XX/XX/XXXX transactions with both institutions. The XXXX dispute is still pending, however, on XX/XX/2022, Marcus issued a letter regarding its investigation into my dispute. Marcus found in my favor, but still claims that it credited my XXXX Savings Account on XX/XX/2022. On XX/XX/2022, I spoke to a manager, XXXX, who informed me that Marcus was going to re-send the {$7500.00} to XXXX but could not provide me a timeframe as when this transfer would occur and would have another manager contact me within 1-2 business days to provide an update. However, no money was ever sent back to XXXX, and I never received a call back from a Marcus manager. 

I contacted Marcus on XX/XX/2022, because I did not receive the update from Marcus, as XXXX assured would happen. While speaking to manager, XXXX, and specialist, XXXX, I was informed that Marcus was no longer going to re-transfer the money because they sent the re-transfer on XX/XX/XXXX, XXXXwhich, again, is a complete reversal of the assurances I received on XX/XX/XXXX. Following this conversation, I received a call from Marcus manager, XXXX ( I am not sure if this was the same XXXX I spoke to on XX/XX/XXXX ). XXXX and I called XXXX to discuss the ongoing issue and we spoke to XXXX customer service representative, XXXX, and dispute representative, XXXX. During this conference call between the parties, XXXX reiterated that it debited my account {$7500.00} and transferred that sum to Marcus on XX/XX/2022, and that it never received a reverse transfer from Marcus on XX/XX/2022. Conversely, Marcus reiterated that it completed the reverse transfer for {$7500.00} to XXXX on XX/XX/2022. At the end of the call, neither financial institution could provide a solution or locate the money because XXXX investigation is still pending. 

As I attempt to find where my money is, the two institutions have essentially passed me back and forth telling me to contact the other bank ( except for the XX/XX/XXXX conference call ), blaming the other institution, without an explanation as to where my money is. To date, it has been sixteen days that I have been missing this money. It should not take this long to locate my money and credit my account. Moreover, I should not have to bring these financial institutions to an arbitration hearing or small claims court to receive my money that one or both institutions mishandled.

Company response to consumer: Closed with non-monetary relief