Consumer complaint received 2025-12-29 00:00:00
Product: Checking or savings account — Savings account
Issue: Closing an account — Company closed your account
Company: GOLDMAN SACHS BANK USA
State: PA

Complaint narrative:
XXXX Pa XXXX XXXX XXXX XXXX Date : XXXX XXXX To : Consumer Financial Protection Bureau. 
Subject : Complaint Regarding Unauthorized Account Closure and withholding of Funds by Marcus Sacks : Dear Sir/Madam I am writing to file a formal complaint against Marcus Sacks regarding the abrupt closure of my savings account, I consider this an unjustified closure of my Account Number : XXXX and Marcus Sacks ubsubsequent failure to transfer funds as requested to my XXXX account on file with them. This incident has cause significant financial distress and emotional hardship, particularly during the holiday season. 
On XX/XX/XXXX, I initiated a transfer of funds from my Marcus Sacks account to my XXXX checking account. 
To my dismay, the funds were not transferred. Upon contacting Marcus Sacks, I was repeatedly transferred between representatives. During the last call the representative XXXX listed several potential reasons for the account closure, none of which I believe applied to my situation, I ask he what reason off of the list. The representative then stated, In other words, we can close your account for any reason, you do not have to do anything. This statement, coupled with an nonchalant Impression and lack of a clear justifiable explanation was deeply troubling, and suggest a substancial lack of banking ethical professionalism and a potential violation of fair banking practices. I explained that I never had a problem with XXXX I was often thanked for being a good customer when ever I called in the past. I mostly made deposits and when I tried to transfer funds on XX/XX/XXXX of {$500.00} to meet an expenditure they closed my account. XXXX the representative said I he could not tell me anything except they can lock my account if they feel like it. I responded that I XXXX need to report this because something does not sound right. The representative then responded...... 
Go ahead contact whoever you want, because we can do whatever we want to your account ; if you would have taken the time to read the small print, it says we can close accounts whenever we want to then he said we will send you a letter. I responded asked if he could transfer my entire balance into my XXXX account on file. The representative XXXX said in a rapid manner We closed your account so we can not transfer anything to your account I really felt abused emotionally. I felt like I was going to XXXX XXXX XXXX XXXX, I just couldn't understand why this was happening ; and why my account was closed after I requested a transfer, and why I was treated hostilely like this, It was as if I did not matter. I have been a loyal customer of XXXX XXXX, primarily making deposits, and have maintained a positive account history. The sudden closure of my account, especially without adequate notice or a transparent reason, Is highly unprofessional. The failure to transfer my funds as requested on XXXX XXXX, resulted in my inability to pay a critical bill on time, causing me to perhaps incurr late fees and damaging my credit standing. This situation was particularly distressing as it occurred during the XXXX holiday, when financial stability is paramount. The Bankss actions have severely challenged my trust and left me profoundly disappointed and hurt by the discouraging unfair closing of my savings account and the the conversation with the representative. I am truly shaken by this encounter these people use to be nice to me when I made deposits. I consider that a violation has occurred and this situation needed to be reported and that is why I contacted you. This is my life savings maybe XXXX is not much to them but it is to me. I was proud of my account with them I had no idea they would do this for no apparent reason except the representvie said they could do whatever they want. I feel davastated by this situation. 
I understand that banks generally have the right to close accounts, but this right is not absolute and must be exercised in a manner that is fair, transparent, and compliant with financial consumer protection laws. Realizing that national banks and federal savings associations operate according to a safe and sound manner, provide fair access to financial services, and treat customers fairly. I believe XXXX XXXX has failed in these responsibilities. I request an investigation into the circumstances surrounding the closure of my account and the lack of transferring my funds. I seek the following resolutions.

Company response to consumer: Closed with explanation