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 1978 Cranberry Twp, PA 16066-0978

• 

  Marcus by Goldman Sachs

  PO Box 45400 Salt Lake City, UT 84145-0400

  

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:04/08/2024

  Type:Service or Repair Issues
  Status:

  ResolvedMore 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 am not able to transfer money out from Marcus account. Started one month ago, I called customer support call and I was told they were not able to verify my phone number or ********** drivers license so they will send an affidavit of identity. I have the letter filled and notarized and sent to ******, **, the address that was provided on the letter. When **** attempted to delivery, the recipient refused to accept but wanted **** to hold until they pick up.(**** status: Held at PostOffice at customer request. No one knows why they dont take the mail at the time of delivery) So the way of affidavit identify doesnt work for me. I called to Marcus later, but no further solution. My desired solution: I want to transfer out all my money from Marcus account and close it.

  Business Response

  Date: 04/16/2024

  BBB Response Luo
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above
  referenced complaint via the ********************** Complaint Portal on April 8, 2024. The Bank
  appreciates the opportunity to address the concerns raised by ***************** (the Customer) related to
  accessing their ************** Account (OSA).
  On February 20, 2024, a Bank specialist erroneously restricted the Customers account. Unfortunately,
  this inadvertent error led to a delay in restoring the Customers account access.
  A??er further review, on April 11, 2024, the Bank restored the Customers online banking access. On April
  15, 2024, the Bank contacted the Customer to assist with the closure of their OSA which the Bank
  successfully processed later that same day.
  Based on the above details, the Bank kindly requests this complaint to be closed.

  Customer Answer

  Date: 04/17/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *****************

• Initial Complaint

  Date:04/08/2024

  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 been trying to cash out a CD (************) for my mother since January 2024. I have verified both my identity and my mother identity many many times. I contacted Marcus 5 days after the CD matured and was told everything was in order. I did not hear back from them for a week so I called again and was told they needed to verify my mothers bank. We got in a three way call with her bank and they verified her information. I was told Marcus would send two small deposits to make sure everything was legitimate. The deposits showed up in her account on February 27, 2024. I called Marcus once again and gave them the information. We were told they money would be deposited into her account within a couple of business days. When the money did not show up I called and was told they would have to mail us a check instead. It is now April 2024 and they still have not paid out the money.

  Business Response

  Date: 04/16/2024

  BBB Response King
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above-referenced
  complaint via the Better Business Bureau Complaint Portal on April 9, 2024. The Bank
  appreciates the opportunity to address the concerns raised by ******************* (the Consumer) related to an
  account held for a third-party.
  For security purposes, the Bank is unable to share any details or account information with a third-party.
  If the Consumer has any questions or requires additional assistance, the Consumer may call the Bank
  toll-free at 1-855-730-SAVE ***************), Monday to Friday, 8 am - 10 pm, or Saturday to Sunday, 9
  am - 7 pm ET.
  Based on the above details, the Bank kindly requests this complaint to be closed.

  Customer Answer

  Date: 04/17/2024

   
  Complaint: 21547633
  
  I am rejecting this response because: My mother still has not received the payout from the CD. We are keeping this complaint open until her money has been deposited into her account as has been requested.
  
  Sincerely,
  
  *******************

• Initial Complaint

  Date:04/08/2024

  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.

  Marcus has blocked me from accessing my funds for over 2 months. I sent them an affidavit of identify but they are not letting me withdraw funds from my saving account.

  Business Response

  Date: 04/16/2024

  BBB Response Gupta
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above
  referenced complaint via the Better Business Bureau Complaint Portal on April 8, 2024. The Bank
  appreciates the opportunity to address the concerns raised by ********************* (the Customer) related to
  accessing their ************** Account (OSA).
  On February 26, 2024, the Customer initiated an outgoing transfer request from their OSA to a linked
  account. During the transfer processing review, the Bank identified security concerns regarding the
  transfer and attempted unsuccessfully to contact the Customer to resolve the security concerns.
  Consequently, the Bank declined the transfer and restricted the account.
  On March 1, 2024, the Customer contacted the Bank regarding the their account access; however, the
  Bank was unsuccessful in authenticating the Customer and the security concerns remained. As an
  alternative verification method, the Bank requested the Customer to complete an Affidavit of Identity
  (***).
  On March 22, 2024, the Bank received the completed *** from the Customer. After further review, on
  April 10, 2024, the Bank approved the documentation resolving the security concerns and restored the
  Customers online banking access.
  Based on the above details, the Bank kindly requests this complaint to be closed.

  Customer Answer

  Date: 04/17/2024

   
  Complaint: 21546035
  
  I am rejecting this response because:

  
  Complaint: 21546035
  
  I am rejecting this response because:
    I called customer service several times and offered to authenticate myself to the bank's satisfaction. The bank refused to send an OTP to my cell phone claiming it is not in my name. Further, it refused to accept a copy of my Driver's License without providing any explanation. Even by their own admission, they received the affidavit of identify on March 22, 2024 yet they did not withdrawal restrictions from my account until April 10, 2024 AFTER I filed a complaint with the *** and CFPB. The bank offers no explanation why it took they so long after the receipt of affidavit of identity to remove withdrawal restrictions. Bank has conveniently omitted mentioning about several calls I made to the customer service until I was compelled to file a complaint.
  
  
  Sincerely,
  
  *********************

  
  
  Sincerely,
  
  *********************

• Initial Complaint

  Date:04/08/2024

  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 disputed this account a couple times and they just keep updating it more wrong than the last time. we did an account combination in may of 2023 and ever since they have reported incorrect information, have disputed through credit bureaus and comes back verified as accurate, opened a case withgoldman sachs and they said they updated the credit bureaus and now they are reporting even more wrong information in regards to my card. now it says credit limit 4000 but credit limit is *****, says balance 1951 but as of last statement close ending marchbalance is zero. i need this resolved asap as i am trying to get a mortgage and they continue to potentially ruin that chance

  Business Response

  Date: 04/15/2024

  Goldman Sachs Bank *** (the Bank) received the above-referenced complaint related to the Apple Card via the Better Business Bureau (BBB)Complaint Portal on April 08, 2024. The Bank appreciates the opportunity to address the concerns raised by *********************** (the Customer) related to Credit reporting for the *********************** conducted an investigation and confirmed no error occurred. The Bank furnishes to ************************* on a monthly basis around the third week of the month for the previous month. The account was reported to the ************************* with a credit limit of $10,000.00 and a total monthly balance of $0.00 in the most recent furnishing in March 2024.The Bank reports the total balance, which includes only posted items as of the last day of the monthly billing cycle. Balances reported do not include pending transactions.
  On April 07, 2024, the Customer contacted the Bank and requested to dispute the information reported by the Bank to the *************************. The Bank confirmed the information reported to the ************************* was accurate, however, during the investigation, the Bank discovered that the Experian credit report did not have updated information. On April 12,2024, the Bank submitted a request to Experian to have the credit report updated with up-to-date account information. The Customer may wish to contact the ************************* directly to validate and potentially dispute invalid information within the credit report.
  Based on the above details, the Bank kindly requests for this complaint to be closed.

  Customer Answer

  Date: 04/15/2024

   
  Complaint: 21541753
  
  I am rejecting this response because:
  now the credit bureaus show incorrect account open date for me and has caused my score to drop, also the co owners equifax still shows their authorized user account with a balance and ************** owned account.  i have since contacted and opened yet another case because information is being reported incorrectly again.
  Sincerely,
  
  ***********************

• Initial Complaint

  Date:04/07/2024

  Type:Sales and Advertising 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 received email about gm cc held by Goldman Sachs bank in my spouses name stating his account was locked I called #given to inquire as to why and was told they had been notified that cardholder was deceased when I asked who notified them of my husbands death they refused to tell me anything until they receive death certificate well I have nit received them yet therefore I had not notified anyone of his death yet I cannot believe someone other than me his wife would be contacting any cc company or bank of his death and then refuse to tell me his surviving spouse who did notify them unconscionable

  Business Response

  Date: 04/12/2024

  Goldman Sachs Bank USA (the “Bank”) received the
  above-referenced complaint related to GM Card via the Better Business Bureau
  (“BBB”) Complaint Portal April 7, 2024. The Bank appreciates the opportunity to
  address the concerns raised by ****** ***** (the “Consumer”) related to a
  restricted GM Card account.
  The Bank conducted an investigation and confirmed no Bank
  error occurred. The Bank conducted an investigation and did not identify a GM
  Card account with the information provided by the Consumer. As the Consumer
  references a deceased account holder the Bank can only provide account
  information to the confirmed estate administrator. The Consumer can send a
  photocopy of documents to confirm the customer is deceased and a document
  verifying the estate administrator through the mail to Goldman Sachs Bank USA,
  Salt Lake City Branch, ** *** *****, Philadelphia, PA 19176-0321.
  Based on the above details, the Bank kindly requests for
  this complaint to be closed.

• Initial Complaint

  Date:04/05/2024

  Type:Customer Service 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 by Goldman Sachs opened not one but two savings accounts in my name. I called them a week ago requesting information on how these accounts were opened and requesting all of my information to be stricken from their database. The customer service representative told me the best they could do at the moment was request the accounts to be closed and mail me confirmation. They advised I was unable to speak with either a supervisor or their fraud department as both were closed after 7pm. I called back once I received the letters of close for both accounts before their 7pm cut off time. The first rep answered the line and demanded I release my protected personal information before they would connect me to a supervisor or their fraud team. I advised the rep on my feelings with my information being already fraudently used twice for two different accounts I don't feel comfortable with releasing my information to them since theyd have to then transfer me anyways to another supervisor who I'd need to provide my information to anyway. During the call I could hear the supervisor in the back coaching the rep on what to say instead of taking my call so I can handle what I was advised already to call back on. I attempted 4 times to advise why I didnt feel safe releasing it to a front line worker but I would release it to a proper level of authority. The rep advised the call was ending and disconnected the call, I cant remember their name when I asked it again before they disconnected for this report they declined to provide it. I immediately called back and was connected with Randy who was extremely helpful and understood why I would be protective of my info. He was able to immediately connect me with the fraud department with the exact same info I was willing and released with the previous rep. Douglas in fraud answered my questions and helped me with tracking my case smoothly.
  
  This company is allowing fraud to occur and actively stopping affected consumers inquiries.

  Business Response

  Date: 04/12/2024

  BBB
  Response ******
  ID
  ********
  Marcus
  by Goldman Sachs, a brand of Goldman Sachs Bank USA (the “Bank”), received the
  above referenced complaint via the Better Business Bureau Complaint Portal on
  April 5, 2024. The Bank appreciates the opportunity to address the concerns
  raised by ******* ****** (the “Consumer”) related to the unauthorized opening
  of multiple Online Savings Accounts (“OSA”).
  On
  January 25, 2024, an individual opened two OSAs with the Consumer’s
  information. On February 29, 2024, the Bank identified security concerns
  regarding the Consumer’s identity and restricted the OSAs.
  On March
  22, 2024, the Consumer contacted the Bank with concerns relating to the OSAs
  and informed the Bank that the accounts opened were unauthorized. Subsequently,
  the Bank opened an investigation into the Consumer’s concerns. On March 25,
  2024, the Bank completed its investigation and closed the unauthorized OSAs.
  Based on
  the above details, the Bank kindly requests this complaint to be closed.

• Initial Complaint

  Date:04/05/2024

  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 took out a consolidation with this company a few years ago and absolutely loved the company. I recommended it to everyone family friends collegues etc. Awhile ago they transferred my loan now down to around $10,00 after having paid it down from sround $22,000. My credit card debt is high again assisting my parents and I started seeking another consolidation loan. Goldman would have been my only choice but they no longer deal with personal loans. I have good credit but kept getting denied the consolidation loan I am seeking. My Dad just passed and my mother has short term memory issues. I need the ability to be able to continue to survive as well as assist. I was being told I had too many loans/debt. I was baffled only to find out the Goldman loan is listed twice on my credit report. It is under Goldman and SST the person they shifted to although not by my choice.After being a faithful customer with several loans with ********************** its disheartening they will not assit with removing this duplicate laon form my credir report. I called again today and was brushed off. I asked for a complaint deparment and was denied. I was told again to call SST after explaining I have multiple times! I am in finanacial hardship and my mother needs many things I cannot afford to provide. I am a teacher witha very low salary and the caregiver who stays with mom is $300 a week out of pocket ..no insurance assistanve. My mom also has a house note and non working plumbling needing $8000 worth of work. The electricity is bad as well. I am drowning in debt trying to grieve dads death and feeling overwhelmed. This blocked my ability to take care of several financial obligations. I keot trying to explain it was a duplicate loan. I have my credit pulled multiple times and taken serious hits to get turrned down over and over my Dads grave has no marker! I cannot believe how callously I am being treated. Im not even being allowed to speal with a supervisor! This is news worthy and criminal!

  Business Response

  Date: 04/16/2024

  Marcus by Goldman Sachs, a brand of Goldman Sachs Bank USA (the Bank), received the above referenced complaint via the Better Business Bureau (BBB) Complaint Portal on April 5, 2024. The Bank appreciates the opportunity to address the issues raised by *********************** related to their personal loan (the Loan)serviced by Systems & ********************** **** (SST).
  The Bank sends our deepest sympathies for your situation.
  
  To confirm, the Bank transferred the servicing of the Loan to SST effective December 11, 2023. The Bank has not reported new account information since December 2023; however, SST has begun credit reporting as of March 2024. Please be advised an open dispute prevented the account status from changing.  SST has updated the account information with one or more *************************** to be accurate as of April 15,2024. 
  
  Please contact SST at ************** if there are any questions regarding the Loan.
  Based on the above details, the Bank kindly requests this complaint be closed. 

• Initial Complaint

  Date:04/04/2024

  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.

  On their website I opened a new CD account in the amount of $600.00. After I completed all the steps a message appeared that said "you have an account that has not been funded" - the amount did not go through so I repeated the process but I changed the amount from $600.00 to $500.00. At the end of the process once again it said "you have an account that has not been funded". I called their office and spoke with very rude representatives. There were no messages that indicated the account had been opened. Nothing said "thank you for opening your account" or "would you like to open another account" not even "thank you for funding your new account". Because of the verbage it gives the impression that you made a mistake and need to start over. I wound up funding two accounts but had only enough money for one. I closed the account. Goldman Sachs charged me an early termination fee and I think they also charged me a wire fee to transfer the money back to my external bank. My bank charged me $10 for an incoming wire fee, $29.00 for an OD fee and another $29.00 OD fee. Marcus Goldman Sachs submitted the transaction for payment twice because AI said "you have an account that has not been funded". These charges would not have occured if the verbage to open an account were CLEAR. I want to be refunded the charges I incurred. Their mistake not mine.

  Business Response

  Date: 04/12/2024

  BBB
  Response *******
  ID
  ********
  Marcus
  by Goldman Sachs, a brand of Goldman Sachs Bank USA (the “Bank”), received the
  above-referenced complaint via the Better Business Bureau Complaint Portal on
  April 5, 2024. The Bank appreciates the opportunity to address the concerns
  raised by ***** ******* (the “Customer”) related to their Certificate of
  Deposit (“CD”).
  On March
  2, 2024, the Customer opened and funded their CD. Later that same day, the
  Customer contacted the Bank to have one of the scheduled transfers canceled,
  however; the Bank specialist advised that they are unable to cancel the
  transfer and to reach out to the external institution.
  On March
  19, 2024, the Customer contacted the Bank requesting to close their CD with the
  Early Withdrawal Penalty (“EWP”) waived, but a Bank specialist advised that the
  Bank is unable to approve the waiver. The following day, the Bank closed the CD
  and transferred the funds to an external account.   
  After
  further review, the Bank is unable to provide reimbursement for the fees
  incurred as well as the EWP applied.
  Based on
  the above details, the Bank kindly requests this complaint to be closed. 

  Customer Answer

  Date: 04/19/2024

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because: Using an incompetent AI with no command of the English language is the primary reason I mistakenly funded two accounts instead of one.  "You have an account that has not been funded" appeared twice.  Just exactly how is a person to preceive that? It clearly stated (twice) that my account had not been funded. Marcus G. is responsible for any and all matters regarding their website.  I didn't build it.  Instead of this bank taking responsibility they didn't even reference what the complaint is about.  I already know what day I called and my request to cancel the 2nd CD after realizing that even though it said "you have an account that has not been funded" the account had actually been funded.  Ghost apologies are useless.  I am charged fees due to MG's poorly constructed website.  This bank is simply another cheating corporation. Its difficult to believe that they cannot referse the fees.  My checking account was $631.00 overdrawn.  I had to pay the late fees, yet GM supports bad grammar on their website "You have an account that has not been funded". GM never in their response to this complaint acknowledged the burden they caused me.  I don't want any ghost apologies. I want to be reimbursed and request they change the wording on their website.  GM is capable of sustaining a small loss better than I can. Cheating customers is not the way to make a profit and keep a good reputation. When responding to this again, please acknowledge the original complaint and how to resolve it to my satisfaction. This matter is not closed.  My next complaint will be with the CFPB, etc.
  
  

  
  
  
  Sincerely,
  
  
  
  ***** *******

• Initial Complaint

  Date:04/03/2024

  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.

  On March 21, 2024 I attempted to make a transfer from this savings account to my checking account. The transfer was blocked with the instruction to call the bank. When I called, they informed that the account was frozen because of some undisclosed issue with my joint account holder (my spouse). On March 22, 2024 both myself and the joint account holder called the bank. The bank then said they could not verfiy the identity of my spouse because "her phone number is not registered to her". Both of our phones are on a family plan and the plan is billed to me. The bank refused to deal with us further and said only that they would open a ticket and call us back within three days. The bank refused to give us even a ticket number. On March 27, 2024 we called the bank again as we had not been contacted. The bank again said they would contact us within three more days and refused to answer any questions or discuss the problem further. As of this writing, April 3, 2024, the bank has not contacted us in any way, we still have no idea what the supposed issue is, and the account is completely frozen.

  Business Response

  Date: 04/11/2024

  BBB Response *****
  21527539
  Marcus by Goldman Sachs, a brand of Goldman Sachs Bank *** (the Bank), received the above-referenced complaint via the Better Business Bureau Complaint Portal on April 4, 2024.  ******** appreciates the opportunity to address the concerns raised by ******************* (the Primary Owner) related to accessing funds in their jointly owned ************** Account (OSA).
  On February 16, 2024, the Bank identified security concerns regarding ************************* (the Joint Owner) identity. On March 4, 2024, the Bank attempted unsuccessfully to contact the Joint Owner to address the security concerns. For the protection of the Joint Owner, the Bank restricted their account access until the security concerns could be resolved.
  On March 21, 2024, the Primary Owner and Joint Owner contacted the Bank regarding their account access; however, the Bank was unsuccessful in authenticating the Joint Owner and the security concerns remained. After further review, on April 9, 2024, the Bank contacted the Joint Owner to address the security concerns,but the Joint Owner declined to authenticate. As an alternative verification method, the Bank requested the Joint Owner to complete an Affidavit of Identity ***** to resolve the security concerns.   
  ******** is currently waiting to receive the completed AOI ************* from the Joint Owner.
  Based on the above details, the Bank kindly requests this complaint to be closed.

• Initial Complaint

  Date:04/03/2024

  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.

  Marcus unilaterally froze my account and prevented the transfer of funds via *** to another financial institution and provided conflicting, invalid and outright false reasons (depending on which representative you were talking to) behind doing so. The *** transfer in question was initiated from the other financial institution where it was instructed to pull funds from the Marcus account using ***. Date of transaction: April 2, 2024 Contact with Marcus associate/s: April 2 and 3, 2024 Explanations provided: Rep ****** *** transfers to Brokerage accounts are not permitted by the Deposit Account Agreement (***) Rep *** Stated *** transfers are ALLOWED from brokerage accounts if initiated from the brokerage (which these transfers were). Reason for the transfer being blocked was due to the receiving institution rejecting the funds and sending them back to Marcus. The rejection reason provided is demonstrably false since the receiving institution got an explicit reason from the rejection from Marcus stating that the funding account was frozen. Rep *** Same story around brokerage transfers using *** are not allowed. Rep *** Same story around brokerage transfers using *** but went further and stated that no third party could do *** pulls from Marcus (guess she has no clue as to what the definition of "third party" is; correct definition is that the account at the ************************ institution is NOT one of the account holder/s on the Marcus account. FACTS: 1. The *** has NO mention of restrictions on the use of *** with brokerage accounts. All of the reps point to clauses regarding "third party" transfers needing to use wire transfers; they obviously have no clue as to what a third party means in this context! 2. The account holder at the receiving institution IS a listed account holder at ******************** (ie: this is NOT a third party transaction requiring the use of wire transfer).Marcus needs to clearly state their processes and restrictions.

  Business Response

  Date: 04/11/2024

  BBB Response *****
  21525034
  Marcus by Goldman Sachs, a brand of Goldman Sachs Bank *** (the Bank), received the above referenced complaint via the Better Business Bureau Complaint Portal on April 4, 2024.  ******** appreciates the opportunity to address the concerns raised by ********************* (the Customer)related to withdrawal requests from their ************** Account (OSA).
  On April 2, 2024, the Bank received withdrawal requests from the Customers OSA to separate external accounts. During the transfer processing reviews, the Bank identified security concerns regarding the transfers and attempted unsuccessfully to contact the Customer to address the security concerns.Consequently, the Bank declined the transfers and restricted the account.
  Later that same day, the Customer contacted the Bank regarding the transfers. A Bank specialist assisted with resolving the security concerns by authenticating the Customer and confirming the Customer authorized the transactions. To protect the Customer and the Bank, a Bank specialist advised the Customer that the withdrawals could currently be returned to the funding account, as all transactions are subject to review.
  On April 9, 2024, the Customer initiated an outgoing transfer request from their OSA to the original funding account which the Bank successfully processed.
  Based on the above details, the Bank kindly requests this complaint to be closed.