Consumer complaint received 2025-05-26 00:00:00
Product: Checking or savings account — Savings account
Issue: Closing an account — Funds not received from closed account
Company: GOLDMAN SACHS BANK USA
State: FL

Complaint narrative:
My issue is that Goldman Sachs Bank USA " Marcus '' is refusing to release my savings to me after multiple attempts on my part. 

On XX/XX/year>, I initiated a transfer through Goldman Sachs " Marcus '' out of my Goldman Sachs " Marcus '' High Yield Savings Account for {$35000.00} to my XXXXXXXX XXXX XXXX ( XXXX ) account. That transfer was reversed by Goldman Sachs " Marcus '' on XX/XX/year>. 

On XX/XX/year>, when I contacted Goldman Sachs " Marcus '' about this reversal by phone, support staff informed me that the Goldman Sachs " Marcus '' account was only to be used as a " long-term investment account, '' and that because I was " attempting to use the account as a regular bank account, '' that the transfer would be denied. Due to this information, I requested that my Goldman Sachs " Marcus '' HYSA account be closed and that all money in the account ( {$85000.00} ) be XXXX transferred out to my UMB account. 

Goldman Sachs " Marcus '' reversed this transfer and account closure. I called Goldman Sachs " Marcus '' support again to again initiate a transfer from Goldman Sachs " Marcus '' to XXXX and to close my account. I was told by Goldman Sachs XXXX` Marcus '' support persons that because I had cleared the account with security by contacting Goldman Sachs " Marcus '', the transfer from Goldman Sachs " Marcus '' to XXXX could be initiated without issue. 

On XX/XX/year>, Goldman Sachs " Marcus '' again reversed my transfer for {$85000.00}. 

On or about XX/XX/year>, I contacted Goldman Sachs " Marcus '' and requested that my call be elevated, I was informed by the Goldman Sachs XXXX Marcus '' XXXX XXXX that it would not be possible to transfer my funds to XXXX, and that the funds instead must be transferred to the originating account at XXXX XXXX XXXX XXXX ( XXXX ). This is the first time that Goldman Sachs " Marcus '' support had notified me of this requirement, even though support had initiated a transfer from Goldman Sachs " Marcus '' to XXXX at my request at XXXX previous instances as noted above. 

On XX/XX/year>, automatically, and without my approval or knowledge, Goldman Sachs " Marcus '' initiated a transfer from Goldman Sachs " Marcus '' to XXXX in the amount of {$85000.00}. I contacted Goldman Sachs " Marcus '' support by phone and, with my approval, they de-linked XXXX from my Goldman Sachs " Marcus '' account. 

On XX/XX/year>, I initiated a transfer from my Goldman Sachs " Marcus '' account for {$84000.00} ( this lesser amount was the full amount now available in my Goldman Sachs " Marcus '' account despite it having previously been {$85000.00} ), to my XXXX XXXX XXXX XXXX ( FCCU ) account. 

This transfer was reversed as I had closed the specific Money Market account at XXXX since first funding the Marcus account. I did, and still do, have an active checking account and an active savings account at FCCU, all of which are in my name, though I did close the Money Market account that had originally funded the Goldman Sachs " Marcus '' account, having not been at all aware that the only way to withdraw my funds from Goldman Sachs " Marcus '' was through this single account. 

On XX/XX/year>, I initiated a transfer from Goldman Sachs " Marcus '' to my active savings account at XXXX in the amount of {$84000.00}. XXXX is the originating bank, under my name, that originally funded the Marcus account. 

On XX/XX/year>, this transfer was reversed by Goldman Sachs " Marcus ''. 

On XX/XX/year>, I contacted Goldman Sachs " Marcus '' and requested that Goldman Sachs " Marcus '' send me a paper check. They agreed and initiated an account closure for the amount of {$84000.00}. 

On XX/XX/year>, Goldman Sachs " Marcus '' canceled the paper check transfer and account closure. I called Goldman Sachs " Marcus '' support and asked that my call be elevated. After elevating the call, Goldman Sachs " Marcus '' support again informed me that I was only able to transfer funds back to the originating FCCU Money Market account. They informed me that they would look into the issue, noting that I had since closed the XXXX Money Market account, and that I should expect to receive a call from Marcus at some point in the coming days. They did not provide a specific resolution or timeline for my issue, and I am still unable to retrieve my funds. 

On XX/XX/year>, I informed the support staff at Marcus that I consider Goldman Sachs Marcus to have seized my funds, and would be submitting a complaint accordingly.

Company response to consumer: Closed with explanation