Complaints

This profile includes complaints for Marcus by Goldman Sachs's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Marcus by Goldman Sachs

  11850 S Election Rd Draper, UT 84020-6887

  
• 

  Marcus by Goldman Sachs

  PO Box 45400 Salt Lake City, UT 84145-0400

  
• 

  Marcus by Goldman Sachs

  PO Box 1978 Cranberry Twp, PA 16066-0978

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:05/20/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I noticed I had late payments from APPLE CARD/GS BANK USA on my credit report. During these months I did not receive anything stating I was late. As you can see, majority of my payments have been on time so I am requesting the removal of these late payments from my account. I am trying to increase my score to purchase a home and would greatly appreciate if you guys can submit a request to the credit reporting agencies to remove the late payments.

  Business Response

  Date: 05/26/2023

  Goldman Sachs Bank *** (the Bank) received the above-referenced complaint related to Apple Card via the Better Business Bureau (BBB) Complaint Portal on May 20, 2023. The Bank appreciates the opportunity to address the concerns raised by ********************************* (the Customer) related to credit reporting for Apple ************************ conducted an investigation and confirmed no Bank error occurred. The Customers account did not receive the required minimum payment due for the months of June 2022, July 2022, September 2022, October 2022, and November 2022. The Bank sent Payment Due Reminders, Missed Payment Reminders and Eligible for Bureau Reporting reminders to the email address associated with the Apple ID provided by the Customer when the Apple Card account was opened. As a result, the Bank reported the account to the credit reporting agencies as past due. The Bank confirmed the credit reporting is correct and accurate, the Bank is obligated to report accurately to the credit reporting agencies. The Bank is unable to remove the Customers past due credit reporting.
   
  Based on the above details, the Bank kindly requests for this complaint to be closed.

• Initial Complaint

  Date:05/20/2023

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Om May 2, 2023 and on May 6th 2023 I attempted to pay off my loan using funds from my Marcus savings account. Both times the transactions were "reversed." The first time I spent an hour or so being transferred from the savings department to the loan department and no one could tell me why the transaction was "reversed." The second attempt on May 6th I spoke to a person named ****** appeared to complete the transaction of transferring funds from my saving to pay off the loan. He gave me a confirmation number#********* and told me that the transaction would actually post on Wednesday, May 10th. I went out of town and returned today to check only to see that this loan is still not paid off. Why?

  Business Response

  Date: 05/31/2023

  Marcus by Goldman Sachs, a brand of Goldman Sachs Bank *** (the Bank), received the above-referenced complaint via the Better Business Bureau (BBB) Complaint Portal on May 20, 2023. We appreciate the opportunity to address the issues raised by *********************** (the Customer) and the ******************** related to the processing of recent payments.
  
  The Bank conducted an investigation based on the information provided as well as our own records and confirmed no bank error occurred. According to our records,on May 2, 2023, the Customer scheduled an authorized payment in the amount of $2,119.46, which was returned due to No Account/ Unable to Locate Account. ********************* received an authorized payment from the Customer on May 8, 2023, and May 22, 2023, in the amounts of $2,122.94 and $2,131.06, which were also rejected due to No Account/ Unable to Locate Account. The Bank confirmed the Customer did not provide the full account number for the account they were trying to use for payment.
  
  In addition, we received an authorized payment from the Customer on May 26, ******* the amount of $2,133.38. Contingent on the successful processing of this payment, the Customer has paid off all obligations related to their personal loan (PL01012169117) in full.
  
  Based on the above information, we kindly request this complaint be closed. 

• Initial Complaint

  Date:05/18/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Goldman Sach by Marcus has had a billing error on my credit card since December 20, 2022. They say it's a technical error. Below is the email they have been sending me. They will not delete the $40.00 late fee each month and my card are locked out informing me I'm delinquent. Hi ********,We've received your feedback about the ** Extended Family Card.Thank you for being patient while we continue to work on the technical problem with your account. Were committed to getting this issue resolved and you will be notified once a resolution is reached.We appreciate you reaching out about the ** Extended Family Card. If you have further questions, please contact a ** Extended Family Card Specialist at **************.

  Business Response

  Date: 05/25/2023

  Goldman Sachs Bank *** (the Bank) received the above-referenced complaint related to the ** Card via the Better Business Bureau (BBB) Complaint Portal on May 19, 2023. We appreciate the opportunity to address the concerns raised by *************************** (the Customer) related to the ** Extended Family Card account being in a past due status.

  The Bank conducted an investigation and confirmed an inadvertent system error occurred. According to the Banks records, the Customer had a minimum balance in the amount of $300.00 due by January 20, 2023. A check payment in the amount of $350.00 posted to the account on January 17, 2023. On December 27, 2022, a check payment in the amount of $350.00 that had previously posted on December 20,2022, reversed off the account. In the Banks system, the two payments canceled each other out registering it as no payment made by the due date of January 20,2023, and a late fee in the amount of $29.00 was assessed on January 23, 2023.The new minimum balance due by February 20, 2023, was $605.00. The Customer has continued paying $350.00 each cycle resulting in a $40.00 late fee to post on the 23rd of February, March, April, and May 2023.

  The Bank is currently working on resolving the underlying system error and the estimated resolution date is by the end of May 2023. The Bank will contact the Customer with any further updates and apologizes for the frustrations the Customer has experienced.

  Based on the above details, we kindly request this complaint to be closed.

  Customer Answer

  Date: 05/29/2023

   
  Complaint: 20077319
  
  I am rejecting this response because: it's been since 2022 and I don't understand why they can't fix this error. Each month I get late fee notes and emails like this: Account ending in:  2310
  Hi ********,
  As of May 28, 2023, your GM Extended Family Card is past due. As a result, we have suspended your spending privileges. Spending privileges may be restored once you pay the past due balance of $219.00.
  If you havent done so already, log in to your account at marcus.com to immediately make a payment online.

  The issue is not resolved.
  
  Sincerely,
  
  ***************************

  Business Response

  Date: 06/05/2023

  Goldman Sachs Bank *** (the Bank) received the above-referenced complaint related to the ** Card via the Better Business Bureau (BBB) Complaint Portal on May 30, 2023. We appreciate the opportunity to address the concerns raised by *************************** (the Customer) related to the ** Extended Family Card account being in a past due status.

  The Bank conducted an investigation and confirmed an inadvertent system error occurred. According to the Banks records, the Customer had a minimum balance in the amount of $300.00 due by January 20, 2023. A check payment in the amount of $350.00 posted to the account on January 17, 2023. On December 27, 2022, a check payment in the amount of $350.00 that had previously posted on December 20,2022, reversed off the account. In the Banks system, the two payments canceled each other out registering it as no payment made by the due date of January 20,2023, and a late fee in the amount of $29.00 was assessed on January 23, 2023.The new minimum balance due by February 20, 2023, was $605.00. The Customer has continued paying $350.00 each cycle resulting in a $40.00 late fee to post on the 23rd of February, March, April, and May 2023.

  The Bank has remediated this system error as of May 30,2023. The late fees were reversed which also provided partial interest credits for a total credit amount of $163.22. The account was manually re-aged which removed it from the delinquent status and the account now shows as current. The Customer owes a minimum due of $345.00 by June 20, 2023. A Bank representative attempted to contact the Customer on May 30, 2023 but was unsuccessful. The Bank apologizes for any inconveniences the Customer may have experienced.

  Based on the above details, we kindly request this complaint to be closed.

• Initial Complaint

  Date:05/18/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I called Marcus to initiate a wire transfer for my down payment for my home purchase. When I called, I was asked a few questions, put on hold for at least 10+ minutes, and then was told they can't do a wire transfer for me. They told me that I cannot transfer my OWN money for my house. I believe this was because they have a terrible, error-prone system for detecting fraud and they believed I was trying to commit fraud. I believe this was because:- the customer service rep had trouble understanding words for some reason. For example, i said "January" and she thought I said "June."-the customer service rep asked me for a secret word. I had no recollection of a secret word and she just moved on without saying anything else. However, when I called back a second time later that day and said the same thing in reference to the secret word to a different customer rep, that customer rep gave me the hint to my secret word, and then I was able to remember what it was. Their company is so incompetent that you can't even withdraw your own money when you need it. They can't even verify if you are yourself, and that is really terrible.This has caused an immense amount of stress as I was force to instead transfer my money to another account and then transfer it for my down payment, and obviously we are on a time crunch.

  Business Response

  Date: 05/24/2023

  BBB Response ********
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above-referenced complaint via the Better Business Bureau Complaint Portal on May 18, 2023.  The Bank appreciates the opportunity to address the concerns raised by ******************************* (the Customer)related to requesting a wire transfer for an ************** Account (OSA).
  On May 18, 2023, the Customer contacted the Bank and initiated an outgoing wire transfer from their OSA to an escrow company. However, the Customer did not meet the criteria for an escrow wire at the time of the transfer request. The Bank specialist informed the Customer that a standard wire could be sent instead. Subsequently, the Customer requested to close their account and have their funds transferred to the funding account.
  On May 19, 2023, the Customer contacted the Bank requesting an update on the wire, and a Bank specialist confirmed the wire was approved and provided the processing timeframe.The Bank can confirm that the wire was successfully processed the same day and the Customers OSA was closed.
  Based on the above details, we kindly request this complaint to be closed.
  

• Initial Complaint

  Date:05/18/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have qualified for a $100 bonus from Marcus Goldman Sachs.I am being denied because I did not keep my complete funding balance of greter than $10 in my **** online savings account.I DID keep the required amount ($10000 minimum + account balance at 12 am on enrollment date) as defined in *********************************************************************************** much longer than the required period. "After enrolling, you must deposit $10,000 or more in new funds from an external account into your Account within 10 calendar days of enrollment (the Funding Period). The Account balance plus a minimum of $10,000 in new funds (the Required Dollar Amount) must be maintained in your Account for 90 consecutive days from the end of the Funding Period. The Account balance is based on the starting current balance reflected on your account at 12 am ET the day you enroll. "I am requesting the $100 bonus.

  Business Response

  Date: 05/24/2023

  BBB Response ******
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above referenced complaint via the Better Business Bureau Complaint Portal on May 18, 2023. The Bank appreciates the opportunity to address concerns raised by ************************* (the Customer) related to the eligibility for a promotion for an ************** Account (OSA).
  The Bank is offering a $100 bonus to OSA customers who enroll between January 18 to February 15, 2023. The promotion terms and conditions required customers to enroll in the promotion during the offer period; deposit $10,000 or more in new funds into an OSA within 10 days of enrollment and maintain at least $10,000 of the new funds, in addition to the existing account balance, for 90 consecutive days
  On January 24, 2023, the Customer enrolled in the promotion and funded their OSA with $10,000.83. The Bank identified a technical issue that caused the promotion status to fail. On May 23, 2023, the Bank informed the Customer that they have met all the promotion requirements and the Bank will be providing the $100 bonus.
  Based on the above details, the Bank kindly requests that this complaint be closed.
  

• Initial Complaint

  Date:05/18/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have qualified for a $100 bonus from Marcus Goldman Sachs.I am being denied because I did not keep my complete funding balance of $10347 in my **** account.I DID keep the required amount ($10000 minimum + account balance at 12 am on enrollment date= $0.71) as defined in *********************************************************************************** much longer than the required period. I spoke to marcus rep ******* and marcus supervisor ***** on a very lengthy recorder call 5-15-2023 case # ************. Though both repeatedly read to me , as I read to them directly from *********************************************************************************** "After enrolling, you must deposit $10,000 or more in new funds from an external account into your Account within 10 calendar days of enrollment (the Funding Period). The Account balance plus a minimum of $10,000 in new funds (the Required Dollar Amount) must be maintained in your Account for 90 consecutive days from the end of the Funding Period. The Account balance is based on the starting current balance reflected on your account at 12 am ET the day you enroll. "They repeatedly agreed with me, on the recorded call, that there was NO WHERE in any document that there was a requirement of keeping the full deposit amount in the account. The requirement is clearly stated to be the starting current balance reflected on theaccount at 12 am ET the day of enrollment ($0.71) + a minimum of $10,000.I am requesting the $100 bonus.

  Business Response

  Date: 05/24/2023

  BBB Response ***********************
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above referenced complaint via the Better Business Bureau Complaint Portal on May 18, 2023. The Bank appreciates the opportunity to address concerns raised by ***************************** (the Customer) related to the eligibility for a promotion for an ************** Account (OSA).
  The Bank is offering a $100 bonus to OSA customers who enroll between January 18 to February 15, 2023. The promotion terms and conditions required customers to enroll in the promotion during the offer period;deposit $10,000 or more in new funds into an OSA within 10 days of enrollment;and maintain at least $10,000 of the new funds, in addition to the existing account balance, for 90 consecutive days.
  On January 24, 2023, the Customer enrolled in the promotion and funded their OSA with $10,347.99. On May 18, 2023,the Customer contacted the Bank inquiring about the promotion, and a Bank specialist informed the Customer they did not maintain the promotion requirements. However, after further review, the Bank identified a technical issue that caused the promotion status to fail.
  On May 23, 2023,the Bank informed the Customer that they have met all of the promotion requirements and the Bank will be providing the $100 bonus.
  Based on the above details, the Bank kindly requests that this complaint be closed.
  

• Initial Complaint

  Date:05/16/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I made a transfer of $2000 to an existing linked account and didnt receive it after the estimated time, so I logged in to check the transfer status, the balance was already reduced though the linked account hasnt received the money. When I logged in again after only a few minutes with correct username and password, it suddenly said my account is temporarily locked. I called customer service to ask for a reason why my account is locked, but Marcus refused to tell me why. I asked for the transfer status, but Marcus also refused to tell me, even if the transfer happened before my account is locked. I asked to close my account and refund the balance to my currently only one linked account, ******************** still refused to close my account. I asked for other methods to verify my identification in order to unlock my account, ******************** again refused to give me an option besides mailing affidavit of identification which actually takes weeks when I need my own money in an urgent. Now the situation is missing $2000 transfer, freezed balance and locked account without any reason or explanation, dictatorial command.

  Business Response

  Date: 05/23/2023

  BBB Response *****
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the "Bank"), received the above-referenced complaint via the Better Business Bureau Complaint Portal on May 16, 2023. The Bank appreciates the opportunity to address the concerns raised by *********************** (the "Customer") related to accessing an ************** Account (OSA).
  On May 12, 2023, the Customer initiated an outgoing transfer from their OSA to an unverified account. On May 15, 2023, the Bank identified security concerns with the account, declined the transfer, and restricted the Customers OSA, per the Banks Deposit Account Agreement. The next day, the Customer contacted the Bank regarding their account access, and the Bank was unable to verify the Customer by phone. As an alternative verification method, the Bank requested an Affidavit of Identity (AOI).
  On May 22, 2023, the Bank was able to verify the Customer via alternative phone number to remove the restrictions and advised the Customer the funds need to be sent back to the funding account. The Customer initiated another transfer; however, the funds were not sent to the funding account and the Bank restricted the account. The Bank request the Customer to call the Bank at ************** ***************), Monday to Friday, 8 am - 10 pm, or Saturday to Sunday, 9 am - 7 pm ET to initiate the transfer back to the funding account.
  Based on the above details, the Bank kindly requests this complaint to be closed.

• Initial Complaint

  Date:05/16/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I attempted to transfer funds out of my Marcus account and into an external account. I had previously established a link to this external account from my ******************** account. I thought that the transfer was complete.Three weeks later I checked my external account and found that no funds had been transferred. I then checked my Marcus account and found that it was locked. I called Marcus and was told that my identity could not be verified because my name and phone number did not match up when entered into their identity verification system. I ultimately spent from 1:15 to 7:45 pm on the phone with Marcus. The supervisors whom I demanded to speak with could not assist me and I was hung up on several times. They would promise to call me but never did - leaving me helpless to get any resolution.They ultimately informed me that I had to fill out a letter of identity which they would send me and which I must have notarized and return to them for review. I am leaving the country for three months in a few days and this account is our only source of funds to assure that our bills are paid while we are away and to pay our expenses while on our trip. We will not be able to complete this new identity process before our departure date and will therefore be left without funds.We are retired and this account is our only source of funds for all our needs.No attempt was made to identify me with the phone number that I had given Marcus and placed in my profile. I have owned this account for three years and have transferred funds in and out of it several times with no problem. It is vincerbing to me that this is happening now when I am attempting yo move a large amount out of the bank.I am beyond amazed and appalled that they refuse to give us our money and have locked my account for no good reason.

  Business Response

  Date: 05/23/2023

  BBB Response *********,
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the "Bank"), received the above-referenced complaint via the Better Business Bureau Complaint Portal on May 16, 2023. The Bank appreciates the opportunity to address the concerns raised by *********************************** (the "Customer") related to transfers from their ************** Account (OSA).
  On May 1, 2023, the Customer initiated an outgoing transfer from their OSA to an unverified account. The same day, the Bank identified security concerns regarding the Customers identity. The Bank attempted unsuccessfully to contact the Customer to address the security concerns; therefore, the Bank reversed the transfer and restricted the Customers OSA, per the Deposit Account Agreement. On May 15, 2023, the Customer contacted the Bank, and the Bank was unable to verify the Customer via phone and requested an Affidavit of Identity (AOI).
  On May 19, 2022, the Bank made an exception to verify the Customer via alternative phone number and conducted a 3-way call with the Customer and external institution to verify the linked account. On May 22, 2023, the Bank successfully processed the outgoing wire transfer.
  Based on the above details, the Bank kindly request this complaint to be closed.

• Initial Complaint

  Date:05/16/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have a personal credit card with GM Marcus by Goldman Sachs, therefore they have all of my information on file. I have had no issues. Application process went smooth, no problems.
  I have applied for the GM Business Card by Goldman Sachs a minimum of ten (10) times. 1/5/23, 1/10/23, 2/21/23, 3/10/23, 3/13/23, 4/2/23, 4/3/23, 4/4/23, 4/8/23, 4/10/23
  The scenario is this; 1. Fill out a pre-qualification. 2. I am APPROVED. 3. Accept or do not accept. I ACCEPT. 4. They respond that they need identification verification. Please upload drivers ID. I UPLOAD my ID. 5. 1-3 days later, I expect my credit card information but instead I receive this: “Unable to verify identification information”. I have called customer service, and each time they CANNOT HELP. They cannot help my situation, tell me what to do differently nor send me to someone who can. I’ve tried to make sure all information on my application is exactly the same as on my ID, and on my credit reports.
  ** I would like for a real person with GM business credit card department to take a personal interest and complete my application. And if needed, tell me what exactly they need to complete this transaction. I don’t want to fill out any more applications.

  Business Response

  Date: 05/23/2023

  Goldman Sachs Bank USA (the “Bank”) received the
  above-referenced complaint related to the GM Card via the Better Business Bureau
  (“BBB”) Complaint Portal on May 16, 2023. We appreciate the opportunity to
  address the concerns raised by ***** ****** (the “Customer”) related to
  declined applications for the GM Business Card.

  
  The Bank conducted an investigation and confirmed no error
  occurred. As part of the Bank’s application process for the GM Business Card, a
  review is conducted to research any red flags identified and to verify the
  identity of all applicants. Subsequently, the Bank declined the application as
  a result of the inability to verify the Customer’s identity and/or business
  information. The Bank is unable to provide additional information related to
  the investigation.

  
  Based on the above details, we kindly request this complaint
  to be closed.

  Customer Answer

  Date: 05/24/2023

  
  
  Complaint: 20064622
  
  
  
  I am rejecting this response because: with all due respect to disclosing information”, the information needed is not a big secret.  To process the application, a “government ID” was needed, and a “government ID” was supplied.  The response was, “unable to verify identification information”.  Which is obvious in referring to the ID.  No details were provided. Which I’m sure we’d gladly supply the information, and you’d have a new customer.

  The best business practice for this situation is to allow real representatives to handle these situations instead of relying on a 3rd party computer database.
  
  There are many on-line who have experienced the same experience and feel the same way.
  
  Sincerely,
  
  
  
  ***** ******

• Initial Complaint

  Date:05/15/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Marcus (Goldman Sachs Bank) encourages customers to refer friends to open savings accounts with the Bank. It rewards referring customers with referral bonuses equal to a 1% interest bonus for 3 months. Customers can earn up to 5 bonuses per calendar year; the maximum bonus for any period is 1%, so additional subsequent bonus periods are added when multiple referrals are made if a referral bonus is then active. For joint accounts, the rules says each joint owner can earn up to 5 bonuses per year; but the bonuses for joint owners also cannot be stacked, so the maximum that can be earned per 3-month bonus period is 1%. So, again, if bonuses are earned by either joint owner when another referral bonus is active, then additional subsequent bonus periods are supposed to be added. My husband and I have a joint high yield savings account. He has referral bonuses, one currently in effect, and others that extend to July ****. I just received a referral bonus----my first---but the referral bonus period runs from May 14 through August 14 (2023). So my bonus has been made effectively worthless, since it overlaps with our current bonuses. My bonus period should have commenced when my husband's previously earned bonuses expire in July ****. We have chatted with Marcus customer service, and also called them; we wasted a lot of time, and got nowhere. Marcus created the referral bonus program, and wrote the rules; they should honor their promises. It would be difficult for us to continue referring friends or even keeping our account open, if ******************** cannot be trusted.

  Business Response

  Date: 05/23/2023

  BBB Response Minato
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above-referenced complaint via the Better Business Bureau Complaint Portal on May 16, 2023. The Bank appreciates the opportunity to address the concerns raised by ******************* (the Customer)related to referral bonus on their Online Saving Account (OSA).
  The Bank is offering an additional 1% *** referral bonus for 3 months for existing OSA customers. The Marcus Referred Rate terms and conditions require OSA customers to provide a unique referral link to individuals that are not OSA or CD customers for the past 12 months and the individual must open an OSA. The existing customer and new customer will receive an additional 1% *** for a period of 3 months. The referred rates may only be combined with other non-referral promotional offers. Customers can earn a maximum combined total of 5 referred rates under these terms and conditions per each calendar year.
  On July 7, 2022, the Primary Owner opened their OSA.On May 13, 2023, the Customer referred a new customer. The following day, the Primary Owner contacted the Bank to report the *** increase for the applicable 3-month period was not reflecting correctly. On May 17, 2023, the Bank informed the Primary Owner the Bank was investigating the issue. After further research, the Bank identified a technical issue that provided incorrect dates on the Customers profile. The Bank's internal systems reflect the Marcus Referred Rate for the applicable 3-month period will occur July 20, ****, until October 20, ****.Once the technical issue is resolved, these dates will also reflect in the Customers profile on Marcus.com and the mobile app. On May 19, 2023, the Bank attempted unsuccessfully to contact the Primary Owner to inform them that due to the experience, the Bank will provide a credit to the account as token of goodwill.
  Based on the above details, the Bank kindly requests this complaint to be closed.