Consumer complaint received 2024-10-14 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: GOLDMAN SACHS BANK USA
State: CA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX by Goldman Sachs left me a voice message asking me to call back the XXXX customer service ( CS ) number to verify a withdrawal transaction from my online savings account. I was in a work meeting and was unable to pick up the call. 

XXXX. I called XXXX XXXX at XXXX ( XXXX ) and was told there was a withdrawal attempt for {$1800.00} out of my online savings account to a XXXX XXXX account ending XXXX which had not been validated ( i.e., not linked to my savings account ). I immediately reported to the rep that I did not authorize the withdrawal and notified that my e-mail address had been recently hacked. Rep transferred to a Fraud Department rep who advised me to ( i ) close out my savings account ending in XXXX, ( ii ) open and transfer all my funds to a new savings account ending in XXXX, ( iii ) and switch my e-mail on file to a different e-mail address. I agreed to do as advised. The Fraud Dept rep assured me that {$1800.00} withdrawal will be declined and reversed back into my account within XXXX business days. My call ended around XXXXXXXX XXXX XXXX XXXX XXXX 

XXXX. On XXXX at XXXX ( XXXX ) I received an e-mail from XXXX XXXX call the CS asap. I called at XXXXXXXX XXXX XXXX XXXX XXXX  and was connected to a Fraud Dept rep named XXXX. He asked me to verify additional security information and told me that I would have to speak to Customer Service ( CS ) to get the {$1800.00} reversed back into my account. Upon transfer to XXXX, I was told by the XXXX XXXX XXXX XXXX XXXX that she couldn't help me because the account ending in XXXX ( where the funds were withdrawn from ) had already been closed and that the funds can not be reversed back into my new account ending in XXXX. CS rep did not know what to do and transferred me back to the Fraud Dept. Upon transfer back to Fraud Dept for the second time, I was asked to reverify my security information ( e.g., telephone number, address, XXXX, XXXX, security word, pin code via mobile phone, etc. ). I was put on numerous holds for over XXXX min. After the unreasonable holds, I was told by the Fraud Dept supervisor that I had called back too late on XXXX  and that {$1800.00} had already been transferred to XXXXXXXX XXXX. To get the {$1800.00} back into my account, she told me that I would have to complete and submit a debit-dispute form via mail and that XXXX will need to approve the forms upon review. I was told the entire dispute/review process would take a minimum of XXXX to XXXX business days. 

I find this fund reverse process unreasonably long and unfair. On XXXX, I called XXXX XXXX min after getting the initial voice message to report the withdrawal as a fraudulent transaction. I was initially informed that {$1800.00} withdrawal will be declined and reversed back into my account ending in XXXX within XXXX business days. Further, this withdrawal made to an account at XXXXXXXX XXXX was not linked to my XXXX savings account and should never have gone through.

Company response to consumer: Closed with explanation