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:08/22/2023

  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 opened an online savings account. After funding the account an unexpected expense occurred and I attempted to make a withdraw. It was stopped by Marcus by Goldman Sachs. They stated that there were restrictions on the account and I could not make a withdraw of my own money. I advised them to cancel the account after arguing with them for over 20 minutes. They then advised that they could remove the restrictions and send my withdraw amount back to my funding bank. I agreed and the funds were never sent. I called back a third time and requested my account be closed and my money sent back to my funding bank. I was told the transaction would be completed within 1 to 3 business days. On 08/22/2023 I have not received the funds back and they locked my account. I called the bank and the representative advised that my account is locked and the last person did not do it correctly. I was on hold for over 20 minutes and she advised that my wife and I both needed to call to transfer my money back. At this point, 3 weeks in, they are refusing to close the account and provide me with my $4400. I just want my money returned to me.

  Business Response

  Date: 09/08/2023

  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 September 2, 2023. The Bank appreciates the opportunity to address the concerns raised by ****** ****** (the "Customer”) related to their Online Savings Account (“OSA”).
  On August 7, 2023, the Customer initiated an outgoing transfer from their OSA to a linked account, but the Bank identified security concerns regarding the transfer. On August 8, 2023,the Bank attempted unsuccessfully to contact the Customer; consequently, the Bank declined the transfer and restricted the account due to the identified security concerns. Later that same day, the Customer contacted the Bank and a Bank specialist advised that the funds needed to be transferred to the respective funding account to resolve the security concerns.
  On August 16, 2023, the Customer contacted the Bank to close their OSA; however, the request to close the account was not submitted properly as a Bank specialist inadvertently transferred all funds from the account to one of the funding accounts.
  Subsequently, the Bank declined the transfer. On August 22, 2023, the Customer contacted the Bank to re-initiate the closure request and submit outgoing transfers to the respective funding accounts. Later that same day, the Bank successfully processed the transfers and closed the OSA.
  Due to the experience, the Bank will be providing the Customer with a credit to the account, as a token of goodwill.
  Based on the information listed above, the Bank kindly asks that this complaint be closed.

  Customer Answer

  Date: 09/12/2023

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:  It does not adress the issue of them refussing several times for me to withdraw my funds.  They only wrote what occured but did not address why.  They can say all day security concerns, but there were none.  They just refused to release my money.  They are a horrible business to deal with and I would not recommend the company. 
  
  
  
  Sincerely,
  
  
  
  ****** ******

• Initial Complaint

  Date:08/20/2023

  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.

  Marcus by Goldman Sachs PO BOX ***** ************, ** ***** Account #: **************** Hello, my name is ****************, and I currently hold a credit card from Marcus by Goldman Sachs, which is my favorite of all the credit card I own. I mailed Marcus by Goldman Sachs several letters informing them of my financial hardship during this COVID-19 health crisis and recession. In the year of 2023 due to extreme financial hardship and medical problems, I became seriously behind on several of my bills. Although I made a mistake by becoming behind, I have since maintained a clean track record of making payments on time, and I intend to keep doing so because I don't want to damage my relationship with Marcus by Goldman Sachs. I am currently trying to buy a house, but I am finding it difficult to get an affordable interest rate because of the negative impact this late payment has caused on my creditworthiness. I'm requesting an Accommodation under the Cares Act.I'm requesting an Accommodation under the Cares Act. Please update the late payment associated with the following account below to "Paid as Agreed" on my credit report, so I can get qualify for a mortgage with a low-interest rate & continue building my relationship with Marcus by Goldman Sachs. Account #: **************** ; Late payments June 2023 and July 2023 15 U.S. Code 1681s2 - Responsibilities of furnishers of information to consumer reporting agencies (a)Duty of furnishers of information to provide accurate information (1)Prohibition (F)Reporting information during COVID19 pandemic

  Business Response

  Date: 08/25/2023

  Goldman Sachs Bank *** (the Bank) received the above-referenced complaint related to the ** Card via the Better Business Bureau (BBB) Complaint Portal on August 20, 2023. We appreciate the opportunity to address the concerns raised by **************** (the Customer)related to covid relief and credit reporting.
  
  The Bank conducted an investigation and confirmed no error occurred. According to the Banks records, the Customer opened a ** Card account and consented to the ** Card Customer Agreement on May 24, 2022. As stated in the ** Card Customer Agreement, the Bank may report information about the account to credit bureaus. The Customer has not satisfied the minimum amount due since March 19, 2023. As a result, the Bank reported the Customers account past due to the credit reporting agencies.
  
  The Bank successfully delivered Statements, Payment Due Reminders, Missed Payment Reminders, and Eligible for Bureau Reporting reminders to the email address on file for the Customer. The account was reported accurately to the credit bureau reporting agencies. The Bank is obligated to report accurately to credit reporting agencies. The Bank is unable to remove the late payment reporting from the Customers credit report.
  
  Currently, the Bank is not offering any accommodations due to the ******19 pandemic. If the Customer would like to discuss financial assistance options, the Customer is encouraged to contact the Bank directly.
  
  Based on the above details, we kindly request this complaint be closed.

  Customer Answer

  Date: 08/26/2023

   
  Complaint: 20496795
  
  I am rejecting this response because: Under the fcra you are not required to report late payments and under the fair credit reporting act i was affect by covid at the time and i request that you remove and make those late payment current.
  
  Sincerely,
  
  ****************

• Initial Complaint

  Date:08/18/2023

  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 opened an online savings account with **************************** on February 13, 2023. The account was funded with monies from my savings and checking accounts at ************ the external links to which were approved and utilized by Marcus. On or about August 7, 2023, I requested the amount of $25,000 be withdrawn from my online Marcus account and transferred back to my Truist checking account. On or about August 9, 2023, I received a phone call from Marcus indicating that there was a problem with the Truist account to which I was attempting to transfer the $25,000. Specifically, I was told that Marcus does not recognize business/trust accounts. I was at no point aware of my error or notified by Marcus of a problem prior to making attempts to withdraw money to be transferred back to these same accounts.That same afternoon of August 9th, I called Marcus to request the account be closed since I would be unable to make unfettered transactions, and I was told that the account would be closed and I would receive a check in 7 to 10 business days. That same day, I received a call from the **************** indicating that although there was no fraud, the requested monies would not be received. I called back to seek clarification and was told that the remaining funds ($166,531.00) would be send to my ************** account. On or about August 11th, that transaction was reversed. I spoke with a Marcus representative who indicated that $24,000 would be transferred to my Truist checking, and the remainder $142,531 would be transferred to my **************. On August 14, 2023, Marcus transferred $24,000 to my Truist checking account, but there was no indication on the website that any transfer of the remainder was scheduled. So, I called Marcus on August 16, 2023 to ask about the closure and transfer of the remainder ($142,531), and I was told that I never gave consent for such transactions (which is false). I consequently gave such approval again and was told that on August 16, 2023, the remainder would be transferred to my ************** account and that the process would take 1 to 2 business days. As of the 17th, there was no indication on the Marcus website that any such transaction was being undertaken.I made a call on the afternoon of the 17th to seek resolution and was told that the transfer of $142,531 to my ************** account should show by no later than the 18th. On the evening of the 17th, I looked at the Marcus website and found a withdrawal scheduled for August 17th under Scheduled Transactions. Unfortunately, the amount listed for the transfer was $0.00 rather than the requested $142,531.00. A call to Marcus left me with assurances that the monies would be transferred by the next day, the 18th. As of the morning of the 18th, when I sign on to my Marcus account, the screen welcomes me by name but has ZERO informationno account number, no balance, no history of transactions. Which leaves me filing this complaint in the hopes of reaching a resolution in this matter. Since early August, and to this day, all I am seeking is (1) return of the balance held in my Marcus savings account ($142,531.00); and (2) subsequent closure of the account.

  Business Response

  Date: 08/25/2023

  BBB Response **** ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above referenced complaint via the Better Business Bureau Complaint Portal on August 18, 2023. The Bank appreciates the opportunity to address the concerns raised by ******************* (the Customer) related to closing their ************** Account (***).
  On August 8, 2023, the Customer initiated an outgoing ACH transfer from their *** to a linked account. On August 9, 2023, the Bank identified security concerns regarding the transfer, and declined the transfer. Later that same day, the Customer contacted the Bank requesting to close their ***; however, a Bank specialist inadvertently took instructions to close the *** for the remaining funds to be delivered via check.
  On August 11, 2023, the Bank contacted the Customer informing them of the Banks Deposit Account Agreement (DAA), pertaining to business accounts, and that the funds needed to return to the respective funding accounts. Additionally, the Bank specialist offered to assist processing new transfers, but the Customer declined, and requested a call back instead.
  On August 12, 2023, the Customer contacted the Bank requesting outgoing ACH transfers from their *** to the two respective funding accounts; however, due to a processing error, the Bank specialist inadvertently submitted transfers for the wrong amounts. On August 16, 2023, the Customer contacted the Bank to re-initiate the transfers and close their ***. The following day, the Bank successfully closed the *** and processed the transfers.
  On August 24, 2023, the Bank contacted the Customer and advised that due to the Customers experience, the Bank will be providing a token of goodwill to the Customer via check; however, the Customer declined.
  Based on the above details, the Bank kindly request this complaint to be closed.

  Customer Answer

  Date: 08/28/2023

   
  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:08/17/2023

  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 have been a customer of *********************************************************************************************** since February 2020. On 01/17/23, I transferred $75K to marcus.com, In May 2023, I tried to access my online accounts (saving and CD) and found out that my online access was being denied and there were no email notifications or any signs before they decided to lock my accounts. There was no clear reason why they locked my accounts and they didnt give any explaination for doing that.So since that date, I tried to call them numerous times and try to solve the issue but the first time I called their rep told me the house number was the only number that their internal system identified. Very soon I noticed she was lying, I have always used my cell phone as the primary number whenever I forgot the password their system would automatically send me the passcode to my cell phone. I told her I have never set my house number as the primary, and I asked her about where on the website had that setting and she said it was their internal system that identified the house number instead of the cell phone number. I then was promised that someone will be in contact with me no later than 48 hours to verify and provide the passcode. 2 days passed I did not get a single call from them, I then made several follow-up calls about this, and every time I was promised the same things and I still never got the call then I continued making several calls until someone finally said I can send them the notarized documents to prove my identity so I did it then I called again to follow up and make sure they got my documents. They told me they have received the documents and they are currently in the queue for review. I was told to call them back in 3-5 days to follow up on the status. It has been almost a month, I have made a total of 6 calls at different times and I was always been told the same BS. Until today, MARCUS still locks my accounts.

  Business Response

  Date: 08/24/2023

  BBB Response Chu
  ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above-referenced complaint via the Better Business Bureau Complaint Portal on August 17, 2023. The Bank appreciates the opportunity to address the concerns raised by *************** (the Customer) related to related to accessing their ************** Account (OSA).
  On February 3, 2023, the Bank received a withdrawal request from the Customer OSA to an unverified linked account. The Bank identified security concerns regarding the transfer to the external account and restricted the Customers account until the security concerns could be resolved. On June 28, 2023, the Customer contacted the Bank regarding their account access but, the security concerns remained. On July 7, 2023, the Customer contacted the Bank, and the Bank requested an Affidavit of Identity ***** from the Customer to clear the security concerns. On July 28, 2023, the Bank received an *** from the Customer, but after further review, the *** was declined by the Bank. However, the Bank was able to authenticate the Customer over the phone on August 18, 2023, clearing the security concerns and restoring the Customers online banking access.
  On August 24, 2023, the Bank attempted unsuccessfully to contact the Customer, informing them that due to the experience, the Bank is providing a credit to their account as a token of goodwill.
  Based on the above details, the Bank kindly requests that this complaint be closed.

  Customer Answer

  Date: 08/29/2023

   
  Better Business Bureau:
  
  I am pleased that I was able to finally be granted access to my on-line banking account.  However, as a Marcus customer, I am very frustrated with the way I was treated throughout this entire process.  Resolution took nearly three months after multiple, repeated requests.  Quite frankly, I find it extremely odd that Marcus finally decided to assist me ONLY after I filed a complaint with Better Business Bureau on August 17th.    Regardless of Marcus claim of goodwill gesture on August 24th,  I will consider taking my banking business somewhere else at the next opportune time.  
  
  Sincerely,
  
  ***************

• Initial Complaint

  Date:08/16/2023

  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 put ***** into savings after about four months I began withdrawing as I needed it and it's my money... They locked my account suddenly when I tried to do a transfer to my external bank ... It's been two months and I've done everything they asked ... I have had no money in two months and they keep saying call back fill out this we will call u ... It's my money I don't have food or gas for my car .. I haven't paid my bills and I have a ticket that is past due and have to go to court for and can't pay. It's destroying my life and they just keep pushing me off

  Business Response

  Date: 08/23/2023

  BBB Response ******* ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above referenced complaint via the Better Business Bureau Complaint Portal on August 16, 2023. The Bank appreciates the opportunity to address the concerns raised by *************************** (the Customer) related to accessing their ************** Account (***).
  On July 5, 2023, the Customer initiated an outgoing transfer from their *** to a linked account. The Bank identified security concerns regarding the transfer and attempted unsuccessfully to contact the Customer. Subsequently, the Bank declined the transfer and restricted the Customers ***.
  Between July 7,2023 and July 19, 2023, the Customer contacted the Bank; however the security concerns could not be cleared during those calls. As an alternative verification method, the Bank mailed an Affidavit of Identity ***** to the Customer. On August 8, 2023, the Bank received the *** from the Customer, however the *** did not have the appropriate notary stamps and seals, resulting in the *** undergoing further investigation for proper verification.
  On August 21, 2023, the Bank approved the *** and was able to verify the Customers external account, restoring the Customers account access. Additionally, the Customer requested to close the *** to the linked account; however, due to an inadvertent error, the Bank specialist completed the withdrawal request without processing the account closure. On August 22, 2023, the Bank unsuccessfully attempted to contact the Customer to complete assist the closure request. Due to the experience the Bank has applied a credit to the Customers *** as a token of goodwill.
  The Bank request the Customer contact the bank to assist with the closure of the *** at 1-855-730-SAVE ***************), Monday to Friday, 8 am - 10 pm, or Saturday to Sunday, 9 am - 7 pm ET to complete the closure of the ***.
  Based on the above details, the Bank kindly request this complaint to be closed.

• Initial Complaint

  Date:08/12/2023

  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 a cd that matured on 7/29/2023 as was to be transferred to another bank via an ****** have contacted customer service and supervisors for help. I have been told that the cd is to be closed. The transfer has yet to be completed and customer service provides a different answer each time I contact the number provided. I have spoken with a supervisor who offered a ****** compensation for my trouble. I need the money for the cd more than the ******. I am requesting my cd to be closed and sent to my designated bank set up in the Marcus Goldman online account. Thank you, ********

  Business Response

  Date: 08/22/2023

  BBB Response ********************** ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above-referenced complaint via the Better Business Bureau Complaint Portal on August 12, 2023. The Bank appreciates the opportunity to address the concerns raised by ********************************* (the Customer) related to closure of their Certificate of Deposit (CD).
  On July 22, 2023, the Customer updated their CD instructions to close at maturity. On July 29, 2023, the CD account matured and the Bank attempted to close. However, the closure failed to process due to an inadvertent Bank error.
  On August 14, 2023 The Customers CD was successfully closed and the funds transferred to the Customers external account. Due to the delay in account closure, the Bank has provided a credit to the Customers OSA as a token of goodwill.
  Based on the above details, the Bank kindly requests this complaint to be closed.

• Initial Complaint

  Date:08/11/2023

  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 received an email on 6/13 while travelling that my savings account had been blocked because I withdrew $1500 dollars my linked account I use abroad. Ok, fraud alerts happen. What is unacceptable to me is the length of time it took to resolve, the number of calls I had to make, the complete lack of clarity and communication, and the incorrect information I was given.I called on the 6/20 when I returned to ****** for an hour, confirming my info, the amounts, liaising with both banks, only to be told they couldn't unblock my account instantly like they manage everywhere else in the world. An online account in 2023, and I had to print out and send 3 months of statements. I was assured it would take 2 weeks after they receive this, which I said was important as the account had my rent money in it, and I would need to close the account if it couldn't be done quickly. I did as requested when I got back to ******** on the 7/5, gave them a week to receive and 2 weeks to process, but called back on the 5/27 as the account was still blocked. I was shocked to discover they had been sitting on the statements for 2 weeks and hadn't even begun the process! I was assured the review would be expedited, and to call the following week. Again nothing, called on 8/4. They STILL hadn't begun the process. The person told me it would be done by the weekend for sure, to call back Saturday, and I explained how ridiculous this all was, how much I needed to pay my rent, how much time I had wasted on the phone. Asked why couldn't they just notify me when it was done, but no, apparently I have to keep calling in. They can email me that my account is blocked, but not unblocked apparently. I try again on 8/8, same old story, still not done, the representative assures me it's a priority and "notes" the massive headache this is all giving me.Then, on the 8/10 I in fact DO get a voicemail that the account has been unblocked. Over a month to do this, and it turns out they can notify me. No apology, no explanation, no remuneration for lost interest and time for the 2 months my account was blocked, and for the incorrect information I was given.

  Business Response

  Date: 08/21/2023

  BBB Response Socrates ID ******** (Recd August 14, 2023)
  Marcus by Goldman Sachs, a brand of Goldman Sachs Bank *** (the Bank), received the above-referenced complaint via the Better Business Bureau on August 14, 2023. The Bank appreciates the opportunity to address the concerns raised by ***************** (the "Customer) related to an outgoing transfer from their ************** Account (OSA).
  On June 12, 2023, the Customer initiated an outgoing transfer from their OSA to an unverified account, via the Banks website. The Bank identified security concerns regarding the account and attempted unsuccessfully to contact the Customer to address the security concerns, thus the Bank restricted the Customers OSA.
  On June 20, 2023, the Customer contacted the Bank regarding their account status. The Bank conducted a 3-way call with the Customer and external institution to verify account ownership; however, the external bank did not allow account verifications via phone. Subsequently, as an alternative method, the Bank asked the Customer to mail in bank statements to verify the account ownership.
  On July 13, 2023, the Bank received the bank statements from the Customer. After review, On August 17, 2023, the Bank attempted unsuccessfully to contact the Customer to advise their account status has been restored. In addition, due to the delay, the Bank credited the Customers OSA with a token of goodwill on August 18, 2023.
  Based on the above details, the Bank kindly requests this complaint to be closed.

• Initial Complaint

  Date:08/09/2023

  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.

  I’ve had a terrible experience with customer Service at Marcus. I reached out to the chat and was told after waiting for 10 minutes that they couldn’t help me over chat and that I would need to call. When I did call, one person answered and asked what they could help with but then closed off the call and sent it straight to the survey. When I called back and went through the automated service again, I had a similarly unhelpful customer service agent explain that the automated service put me to the wrong department and said they would transfer me to the correct department. Instead, they transferred me back to the automated service. I was then transferred to a different department and the agent there was also unhelpful. All these agents refused to understand the issue and were eager to transfer me away. The issue was simply that the app was displaying transactions from external accounts twice – once with the correct external account listed and once with no account listed. Each agent either wanted me to be transferred to a different department or to reach out to my external bank, but the issue is with the Marcus app, not with them. I asked multiple times if there was a way to get in contact with app support or IT or any department like that. One agent told me there was no IT department – extremely uninformed and unhelpful staff. I still have not reached any resolution and am now considering closing my account and moving my savings out, but I’ve already wasted months of service with Marcus when I could have used another bank with higher rates.

  Business Response

  Date: 08/17/2023

  BBB Deposits *******
  ********
  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 August 10, 2023. The Bank appreciates the opportunity to address the concerns raised by ******* ******* (the “Customer”) related to a transfer reflected on Insights - a feature offered by Marcus by Goldman Sachs.
  On August 9, 2023, the Customer contacted the Bank and informed about duplicate transfers appearing on their Marcus app. On August 14, 2023, the Bank contacted the Customer to apologize for the experience and walked them through troubleshooting steps to attempt to remove the duplicate external account and re-link it to Insights. The Customer informed they would attempt these steps at a later time and contact the Bank in case assistance is required.
  The Bank can be reached at ************** (###-###-####), 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: 08/18/2023

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:

  This disingenuous response downplays the repeated issues I’ve had with customer service dealing with this issue. On my first call, the customer service rep dropped the call as soon as I mentioned  my issue. On my second and third calls, I was transferred to the wrong department.  One agent explicitly told me that there was no IT or app support department to transfer me to. Each agent I spoke to was rude, curt, and unhelpful until the last one I spoke to, who was kind but ultimately entirely unhelpful. Due to the lack of help, I decided to transfer the bulk of my account balance to another bank offering a higher rate, but I received this message from said bank (Wealthfront) after initiating: “GOLDMAN SACHS BANK USA has canceled the link to Wealthfront that you previously created” – therefore missing out on the increased interest and never even receiving a notification from Marcus about the cancellation. I stand my my previous requests on this complaint and I urge BBB to keep the case open until acknowledgement of the poor customer service on these calls is provided and a resolution is provided.

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

• Initial Complaint

  Date:08/09/2023

  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 just took $5000 from my account. They locked my account for no reasons. When I called they decided to close my account for no reason as well. Im ok with it but I need they to pay my back my money. I need my $48300 back. I asked them when. They said they didnt know. Just let my call again and again. Its been 2 weeks. They can just steal my money in this way.

  Business Response

  Date: 08/16/2023

  BBB Response **** ID ********
  **********************, a brand of Goldman Sachs Bank *** (the Bank), received the above referenced complaint via the Better Business Bureau Complaint Portal on August 9, 2023. The Bank appreciates the opportunity to address the concerns raised by ********************* (the Customer) related to accessing their ************** Account (***).
  On August 2, 2023, the Customer initiated an outgoing transfer from their *** to a linked account, however the Bank identified security concerns regarding the transaction and the Customers identity. As the Bank could not clear the security concerns, the Bank declined the transfer and restricted the *** until the security concerns could be resolved. Later that day, the Customer contacted the Bank but the security concerns remained. Due to the unresolved security concerns the Bank made a business decision to close the Customers ***.
  On August 11, 2023, after further review, the Bank determined the Customers funds could be returned to the original funding account. Later that same day, the Customer contacted the Bank, requesting to initiate an outgoing transfer from their *** to the original funding account. On August 14, 2023, the Bank successfully processed the transfer and closed the Customers ***.
  Based on the above details, the Bank kindly request this complaint to be closed.

  Customer Answer

  Date: 08/17/2023

   
  Complaint: 20446697
  
  I am rejecting this response because: First, I just wanted to get some money from my account to see if it worked or not. Unfortunately they locked my account immediately without a reason. I called. They told me that they closed my account already. They told me a long policy but still didnt explain why. They told me it took 5 business days that my money would be back to my account. This never happened.
  I accepted the result. I knew it would not be so easy so I kept calling them to make a reminder of it. Every time I called I got a different story. 

  On the 7th business day, I called and the associate said my account was not been closed, which means they told me they made a transaction back to my BOA account was a lie. They said it would take 5+7 business days to view my account. 

  Then I realized they wouldnt unlock my account or give me back my money if I didnt take any action so I decided to complain to BBB. 

  BBB is really helpful. They finally made a transaction and I get my money back after 16 days. Im not sure what would happen without a complaint. They locked my account just for avoiding me to make any transaction from their bank. Made me to call at least 4 hours total. It was wasting my time. Made me last for my payment. They dont even feel sorry for this.

   

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

• Initial Complaint

  Date:08/08/2023

  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 was enrolled a promotion program via clicking on a link that was sent to Marcus back in Jan 2023. The promotion was about depositing $10,000 in a saving account and maintain it for 90 days, the bonus is $100. The email content is below:
  
  Here’s how to get your $100 Cash Bonus:
  
  1
  Enroll in the offer at
  marcus.com/savingsbonus
  by 2?/15?/23?
  2
  Deposit $10,000 or more in new funds into an Online Savings Account
  Funds must be deposited after enrolling and no more than 10 days after enrollment.
  3
  Maintain those funds plus your existing balance for 90 days after
  the 10-day Funding Period
  
  I followed each of the 3 steps in the email above and was waiting for the cash bonus to be put into my account. Today I chatted with customer service and they told me I was not enrolled. I would like to understand which of the steps that I missed? Was the promotional link effective at all?
  
  I would like to get the cash bonus of $100 because I have followed all the steps in the advertised email that was sent by the bank.

  Business Response

  Date: 08/15/2023

  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 August 08, 2023. The Bank appreciates the opportunity to address the concerns raised by *** *** (the “Customer”) related to the eligibility for a promotion offered by the Bank to customers with an active Online Savings Account (“OSA”).
  The Bank offered a $100 bonus to OSA customers who enrolled between January 18 to February 15, 2023, and deposited $10,000 or more in new funds within 10 days of enrollment. In addition, the promotion terms and conditions required customers to maintain at least $10,000 of the new funds, in addition to the existing account balance, for 90 consecutive days.
  On January 18, 2023, the Customer opened and funded their OSA with $10,000; however, per Bank records, the Customer did not enroll for the $100 bonus on the Bank’s website. On August 8, 2023, the Customer contacted the Bank to inquire on the status of the promotion, and the Bank specialist informed the Customer that the Bank had no record of the Customer enrolling for the promotion. Unfortunately, the Bank is unable to honor the Customer’s request to retroactively apply the $100 bonus to the OSA.
  Based on the above details, the Bank kindly requests this complaint to be closed.