Consumer complaint received 2026-02-25 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Funds not received from closed account
Company: GOLDMAN SACHS BANK USA
State: TX

Complaint narrative:
Summary of the Issue : Marcus by Goldman Sachs has failed to properly disburse funds from XXXX Certificates of Deposit ( CDs ) I closed on XXXX XX/XX/year>. I requested the proceeds be transferred via ACH to my external savings account. XXXX initially told me the transfer was rejected by my bank. My external bank confirmed that XXXX incorrectly coded the XXXX as a checking account, which caused the rejection. When I informed XXXX of this, multiple representatives told me that Marcus automatically issued XXXX paper checks after the XXXX ACH failure on XXXX XXXX. However, as of XXXX XX/XX/year>, XXXX now states they do not see any record of the checks being mailed, do not see the XXXX rejection, and do not see the funds. I have received contradictory and inconsistent information from multiple Marcus representatives, and no one has been able to locate the funds or provide a resolution. Impact : I am under contract to close on a home on XXXX XX/XX/year> and I need these funds for the down payment. XXXX failure to properly disburse my funds, combined with contradictory information and lack of visibility into their own systems, is jeopardizing my home purchase and causing financial harm. What I Have Already Done : Contacted Marcus multiple times. Contacted my external bank ( XXXX XXXX ) multiple times, which confirmed XXXX XXXX miscoded the XXXX. Attempted to escalate to supervisors and operations teams, but XXXX has not provided accurate information or a solution. Requested tracking numbers, confirmation of check issuance, or re initiation of the electronic transfer ( preferred ), but XXXX can not confirm any action. XXXX XXXX : I close XXXX Marcus CDs with instructions to send to XXXX XXXX savings account. XXXX XXXX : I received email from XXXX asking me to call them. I called them and they stated that the transfer was rejected by XXXX XXXX and they ask me to contact rally as to the reason. I contact XXXX that day and XXXX informs me that XXXX miscoded the XXXX transfer as to a checking account instead of to the savings account. I call back XXXX and they state since the transfer automatically reattempted a second time and failed, they are automatically mailing me checks for the balances. XXXX XXXX : I call XXXX to request tracking numbers for the XXXX checks and they say to wait until Monday or Tuesday to call again for the tracking numbers. XXXX XXXX : I call XXXX to request tracking numbers for the XXXX checks, and they say to wait another day or so for the numbers. XXXX XXXX : I call XXXX again to request tracking numbers, and I speak to a supervisor and they say they have no record of checks being mailed and that they do not have a rejection notice from XXXX XXXX that the funds were sent back. I called XXXX and they again confirmed the funds were auto rejected due to XXXX account type miscoding. They provide the XXXX rejection trace numbers for the XXXX transfers ( which are below ). I call XXXX again and talk to another supervisor who then transfers me to a disputes XXXX who then transfers me to another supervisor. That supervisor says that no checks have been mailed and that they have just now that day opened an investigation with XXXX number XXXX. I ask to speak to a case XXXX, or operations team, or back shops personnel. They refuse. They say they have XXXX days, or up to XXXX days, to resolve the investigation which will create undue financial hardship due to their error by preventing me from closing on my home purchase. They are unable to tell me where my funds are or initiate an immediate electronic transfer to resolve the issue. Unaccounted for Funds Cross Reference {$10000.00}, ACH Rejection Trace : XXXX, XXXX Account : XXXX {$15000.00}, ACH Rejection Trace : XXXX, XXXX Account : XXXX {$10000.00}, ACH Rejection Trace : XXXX, XXXX Account : XXXX {$10000.00}, ACH Rejection Trace : XXXX, XXXX Account : XXXX {$31000.00}, ACH Rejection Trace : XXXX, XXXX Account : XXXX

Company response to consumer: Closed with explanation