Consumer complaint received 2025-04-02 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: GOLDMAN SACHS BANK USA
State: NY

Complaint narrative:
To Whom It May Concern, I am filing this complaint regarding the mismanagement of my Marcus by Goldman Sachs high-yield savings account ( HYSA ), which ultimately resulted in its closure. Below is a timeline of events outlining the issues I have faced. 
XX/XX/XXXX : I opened my Marcus by Goldman Sachs HYSA with no initial problems. 
XX/XX/XXXX ( XXXX XXXX  ) : I encountered difficulties transferring money to and from my account. Upon contacting customer support, I was informed that transfers might take a few days. When attempting to verify my identity via a phone verification code, the system failed to recognize my number. As a result, I was required to wait for an affidavit of identity letter, which took 3-5 days to arrive. 
Following Weeks : The initial transfer was ultimately placed back into my HYSA, eliminating the need for the affidavit letter. However, in XXXX, I encountered further difficulties withdrawing funds. 
XX/XX/XXXX : I called customer support again to request a new affidavit letter, as I had discarded the previous one. I was told it would take 3-10 days to arrive. 
XX/XX/XXXX : I called to check the status and inquired whether I could submit a PDF version of the affidavit of identity letter available on Marcus by Goldman Sachs website since it was taking longer to arrive at my residence. My request was denied, and I was told to wait for the mailed version. 
XX/XX/XXXX : Frustrated due to ongoing account access issues, I called customer support twice. The first representative ended the call after stating someone would call me back. The second time, I requested a supervisor, who escalated my case. 
XX/XX/XXXX : I called again, concerned that my affidavit request had not been submitted. I requested immediate confirmation with another supervisor. 
XX/XX/XXXX : I called again checking status, and I was informed that my affidavit letter had been shipped and would arrive soon. 
XX/XX/XXXX : I received a call and an email from Marcus by Goldman Sachs indicating that action was required on my account. I also received the affidavit letter in the mail that day and immediately contacted Marcus to inform them of its receipt. 
XX/XX/XXXX : I mailed the affidavit letter and allowed time for processing. 
XX/XX/XXXX : When checking my Marcus by Goldman Sachs app, I found that my account had disappeared. Upon contacting customer support, I was transferred between representatives until I spoke with " XXXX '', who informed me that my account had been closed due to non-receipt of the affidavit letter. I was also told that a check for my remaining balance had been mailed on XX/XX/XXXX, and to call back if I had not received it by XX/XX/XXXX. 
This entire process has been irrational, illogical, and untrustworthy. My account was fully operational while awaiting the affidavit letter, yet it was abruptly closed without any prior notice or reasoning. The lack of clear communication, delays, and unresponsiveness from Marcus by Goldman Sachs has caused unnecessary stress and inconvenience.

Company response to consumer: Closed with explanation