Checking or savings account -- Managing an account -- Complaint #9166063
Complaint Overview
Complaint ID: 9166063
Company: Goldman Sachs Bank USA
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: California
ZIP Code: 912XX
Date Received: 2024-06-03T12:00:00-05:00
Date Sent to Company: 2024-06-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Opened Marcus Savings Account XX/XX/year>. Transferred funds XX/XX/XXXX and account showed funds were cleared XX/XX/XXXX. XX/XX/XXXX made a transfer request of {$3000.00} to an external checking account and transfer was successful. XX/XX/XXXX made a transfer request of {$5000.00} to the same external checking account. XX/XX/XXXX received phone call from Marcus Bank Representative stating the transfer of {$5000.00} could not be completed. When I inquired the reason it was stated because the account was just opened the funds would be held for an indefinite period of time. They stated it was on page 7 of the DDA, but when I asked them to read it to me, it was not clearly stated. But they informed me if I transferred it back to the original account that funded my Marcus Savings account that would be possible. I stated that made no sense that I could transfer to one account but not another. I asked to speak to a supervisor. Supervisor told me because it was a high-yield savings account funds should be kept long-term. I asked why I was able to make the first transfer without any issues and she stated because the computer did not catch it. Then she asked multiple times what I thought would happen if I was transferred to a supervisor when it was already explained to me that the supervisor would not be able to do anything. A completely irrelevant and rude question. MARCUS BANK FAILED TO PROVIDE IN WRITING WHY MY TRANSFER COULD NOT BE DONE AND REFUSED TO GIVE ME A DATE WHEN MY FUNDS WOULD BE ABLE TO BE TRANSFERRED. THEY ARE ESSENTIALLY HOLDING MY FUNDS HOSTAGE WHICH I AM CERTAIN IS NOT LEGAL. THEY MARKETED THEIR SAVINGS ACCOUNT AS IF WITHDRAWALS/TRANSFERS COULD BE MADE AT ANY TIME BUT DID NOT DISCLOSE THAT THEY CAN HOLD ONTO MY FUNDS FOR HOWEVER LONG THEY WANTED WITHOUT LEGITIMATE REASON.
Frequently Asked Questions
What is Complaint #9166063 about?
Complaint #9166063 was filed against Goldman Sachs Bank USA regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-06-03T12:00:00-05:00.
How did Goldman Sachs Bank USA respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Goldman Sachs Bank USA?
Yes, visit the Goldman Sachs Bank USA company profile at readthecomplaint.com/company/goldman-sachs-bank-usa to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.