Consumer complaint received 2024-06-11 00:00:00
Product: Checking or savings account — Savings account
Issue: Closing an account — Can't close your account
Company: GOLDMAN SACHS BANK USA
State: WI

Complaint narrative:
-I opened the account on XXXX XXXX  2024 with {$14000.00}. 
-I called on XXXX XXXX 2024 and added my spouse to the account. 
-He added {$9500.00} to the account on XXXX XXXX 2024. 

We had agreed this joint high-yield savings was to be long-term. 
-A few days prior, he had submitted a request to his student loan management company to finish paying his student debt in full. The loan company attempted to withdraw that money on XX/XX/scrub>XXXX XXXX, 2024. 

-I missed a call at XXXX pm from a ( then ) unknown number on XX/XX/XXXX. I received it again on XX/XX/XXXX and confirmed I authorized the transfer. The withdrawal did not go through and the transfer was later reversed on XX/XX/XXXX. This had never happened before ; it was a XXXX company. 
-Because this hadn't happened before with the loan company, we tried to withdraw the {$10000.00} loan funds on XX/XX/XXXX. There had been no issue transferring the funds in from his account with the receiving bank. I received another call that same day verifying it wasn't fraud. I confirmed it wasn't. 
-The {$10000.00} transfer was reversed on XX/XX/XXXX. 

By this point, we decided this was not what we wanted in an emergency fund. By definition, you keep your assets liquid in order to easily access them. We'd never had so many difficulties getting a bank to coordinate with other institutions. We decided to close the account. 

-I spent XXXX minutes on the phone on XX/XX/XXXX. You can not close the account online. Plus there were XXXX people and I doubted whether I could close it unilaterally. In that time I spoke to XXXX representatives. I was connected with a member of our other banking institution in a XXXX call to verify our information for transfer purposes, I was told my address was incorrect and that I needed to wait XXXX days for a confirmation email which never came and that I'd need to wait for the current transfer to complete before being able to close the account. I don't believe they ever spoke with my spouse. 

-On XX/XX/XXXX, I attempted to transfer out the entirety of the balance ( {$23000.00} with interest ). If the transfer went through and the address was wrong, we wouldn't lose much. If it didn't go through, I could have them cut me a check. I also called customer service back to confirm that 'Yes, this is me. No, it is NOT fraud. ' During this call, I learned they have a cap for the amount that can typically be transferred out at around {$14000.00} and that it's their discretion what they will and will not place a hold on. Of course, it's in the paperwork we signed. Fine, I just want the funds out. They also mentioned the funds being somewhere in the {$23000.00} mark. Higher than expected. 

-On XX/XX/XXXX, {$23000.00} were transferred back to the Marcus account. 
-On XX/XX/XXXX, I immediately searched for the 'close account ' button. Although I'd never received a confirmation email, I had to try and it worked. I had a screen which said the account was closed. Only, the account had no records of my transfers, I had no receipt, no further information of account closure and no trust in this institution. I called and asked for a receipt to be emailed to me with account closure and the quantity. I was told to expect it by XXXX. I did not receive it and called around XXXX pm. I was told to expect it once the money was deposited. That made sense. 
-On XX/XX/XXXX, I received a receipt of account closure. When I went to verify, I could not only log into my account, but all the prior information was still there. I will undoubtedly be calling again.

Company response to consumer: Closed with explanation