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:08/08/2023

  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.

  Last week, I made a transfer from Marcus savings account to my chase checking account. After days not receiving the fund, I logged onto my Marcus account to check what was happening and realized my account has been locked. I called Marcus more than five times stating I need the money in my account urgently. But they told me unlocking my account takes 2 weeks. And the reason they locked my account was they had to verify I am myself. I believe this process should be done at the time I open the account but not at the the time I make any transfers. This caused me great inconvenience especially that I am traveling abroad in two weeks. It’s very irresponsible for a bank to lock accounts so randomly. The only thing I want now is to close my account and get the money back to my original chase account.

  Business Response

  Date: 08/15/2023

  BBB Response *** ID ******** (Rec’d August 8, 2023)
  Marcus by Goldman Sachs, a brand of Goldman Sachs Bank USA (the “Bank”), received the above-referenced complaint via the Better Business Bureau on August 8, 2023. The Bank appreciates the opportunity to address the concerns raised by ***** *** (the "Customer”) related to an outgoing transfer from their Online Savings Account (“OSA”).
  On August 2, 2023, the Customer initiated an outgoing transfer from their OSA to a linked account. The Bank identified security concerns regarding the account and the transfer to a separate external account. As a result, the Bank declined the transfer and restricted the OSA, until the security concerns could be resolved.
  On August 6, 2023, the Customer contacted the Bank regarding their account access; however, the security concerns remained. On August 8, 2023, the Customer contacted the Bank requesting to close their OSA. Unfortunately, a Bank specialist inadvertently informed the Customer that the account could not be closed, due to the ongoing security concerns.
  On August 15, 2023, the Customer contacted the Bank requesting to close their OSA and transfer funds to the original funding account, which the Bank successfully processed later that day.
  Based on the above details, the Bank kindly requests this complaint to be closed.

• Initial Complaint

  Date:08/08/2023

  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'm not liable for this debit,

  Business Response

  Date: 08/14/2023

  Goldman Sachs Bank *** (the Bank) received the above-referenced complaint related to the Apple Card via the Better Business Bureau (BBB) Complaint Portal on August 8, 2023. ******** appreciates the opportunity to address the concerns raised by *************************** (the Consumer) related to credit bureau reporting.

  ******** conducted an investigation and did not identify an Apple Card account with the information provided for the Consumer. The information provided by the Consumer indicates this is related to a debt, but no further information is provided to address the Consumer's concerns. The Consumer may wish to refer this complaint to the correct company or line of business.

  ******** attempted to contact the Consumer on August 9, 2023, and August 10, 2023, but was unsuccessful.

  Based on the above details, the Bank kindly requests for this complaint to be closed.

• Initial Complaint

  Date:08/07/2023

  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 am a natural person and a consumer who resides in Union New Jersey. The corporation, Apple Card/Goldman Sachs Bank has violated multiple federal consumer laws pursuant to Fair Credit Reporting Act 15 USC 1681, 15 USC 1681 Section 602(a) right to privacy, 15 USC 1681 604 (a)(2) furnishing an account without my written instructions, 15 USC 1681a(2)(b) EXCLUSIONS, 15 USC 6802 (b) OPT-OUT, 15 USC 6803 disclosures, Gramm Leach Bliley Act, Defamation of Character, along with contributing to my financial injury and unjust enrichment arising from impermissibly furnished consumer reporting. I put this company on notice numerous times about these consumer rights violations and I intend to pursue litigation along with making a complaint to my Attorney General's office in order to obtain what is fair and equitable to me as a consumer. Please find attached documentation that further support my claims. I thank you for your time, efforts and consideration regarding this serious matter.
  Sincerely yours,
  ***** *****

  Business Response

  Date: 08/14/2023

  Goldman Sachs Bank USA (the “Bank”) received the above-referenced
  complaint related to the Apple Card via the Better Business Bureau (“BBB”)
  Complaint Portal on August 8, 2023. The Bank appreciates the opportunity to
  address the concerns raised by ***** ***** (the “Customer”) related to identity
  theft and credit reporting.
  The Bank conducted an investigation and review of the account. As
  a part of a regular account review process, the Bank placed a restriction on
  the account on April 29, 2023, for additional research to be completed. During
  the review process, red flags related to the account were identified. Based on
  an investigation, and in accordance with the Apple Card Customer Agreement, the
  Bank closed the account and sent the Customer an email informing of the account
  closure on May 1, 2023.
  The Customer notified the Bank of potential identity theft on May
  2, 2023 and an investigation was initiated. Based on the Bank’s investigation,
  as well as the information provided, the Bank determined that the Customer is
  liable for the account. An inadvertent processing error occurred and an email
  was not sent to the Customer on completion of the investigation on May 16,
  2023. The Bank sent the Customer an email informing of the investigation
  outcome on August 9, 2023. The Bank is unable to provide additional information
  related to the investigation.
  According to the Bank’s records, the Customer opened an Apple Card
  and electronically consented to the Apple Card Customer Agreement on February
  5, 2022. As stated in the Apple Card Customer Agreement, the Bank may report
  information about the account to the Credit Bureaus. The Bank confirmed the
  related credit reporting is correct and is obligated to report accurately to
  Credit Bureaus. The Bank is unable to update the Customer’s credit report.
  The Bank sent the Customer documents on August 10, 2023,
  validating the Customer's debt including a copy of the Apple Card Customer
  Agreement and six months of statement history showing records of transactions
  and payments to validate the balance and the debt owed. The Customer is
  responsible for the balance on the account in the amount of $16,709.76 provided
  in the latest statement from July 31, 2023.
  Based on the above details, the Bank kindly requests for this
  complaint to be closed.

• Initial Complaint

  Date:08/07/2023

  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 am not aware of this account. I have reached out to APPLE CARD - GS BANK USA to have this account removed from my file and they are always saying the same excuse, which is no longer acceptable. I have filed this as an outcome of Identity Theft. Regardless of all actions done on my end, there was no action from APPLE CARD - GS BANK USA . Thus, I am reaching out to seek assistance to have APPLE CARD - GS BANK USA confirm that I have no account with them and that the Credit Bureaus can simply remove it from my credit report.

  Business Response

  Date: 08/11/2023

  Goldman Sachs Bank *** (the Bank) received the above-referenced complaint related to Apple Card via the Better Business Bureau (BBB) Complaint Portal on August 7, 2023. ******** appreciates the opportunity to address the concerns raised by ********************************* (the Customer) related to an Apple Card account opened without authorization.
  
  ******** conducted an investigation and confirmed no Bank error occurred. The Bank confirmed the account was booked on February 19, 2021. The account is currently under review. ******** requires additional time to complete the investigation. ******** attempted to contact the Customer on August 8, 2023, and August 10, 2023, but was unable to reach the Customer. If the Customer has any additional questions or concerns, the Customer can contact the Bank directly via chat using the Wallet App and/or via phone by calling **************.
  
  Based on the above details, the Bank kindly requests for this complaint to be closed

• Initial Complaint

  Date:08/07/2023

  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.

  Dear BBB,
  
  I am lodging a formal complaint against Marcus for locking my account without cause, preventing access to my funds totaling $141,268.08 intended for my home closing expenses. Despite repeated attempts to resolve the issue through their customer service, Marcus has not provided a satisfactory response or unlocked my account, even though the transactions involve transfers between the same accounts without any risk. Moreover, unauthorized withdrawals were initiated from my account due to a supposed system error, raising suspicions of potential misconduct. Urgent assistance is required to safeguard my funds and ensure the completion of my home purchase. I have attached pertinent documents to substantiate my claim and request a prompt resolution to this matter. I want Marcus to transfer all my remaining funds back to my Chase bank account.
  
  Account Details:
  Marcus account number **************** transaction:
  8/4/2023-$50,000 unsuccessful(they lock my account on 8/7/2023 my transaction)
  8/2/2023-$50,000 fraud (I didn’t do this transaction agent said its error on their system)
  8/2/2023 -$50,000 successful(it is 8/1/2023 transaction posted on chase)
  7/10/2023 $50,000
  6/29/2023 $50,000
  6/26/2023 $50,000
  6/20/2023 $50,000
  6/16/2023 -$10,000 successful
  6/5/2023 $50,000
  Chase bank account number:*********
  Account Holder Name: *** ***** ****** Account Number: ****************
  Transaction Description: GOLDMAN SACHS BA COLLECTION ****************  WEB ID:**********

  Business Response

  Date: 08/14/2023

  BBB Deposits *****
  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 7, 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. The Bank identified security concerns regarding the account and the transfer to a separate external account, and the Bank attempted unsuccessfully to contact the Customer to address the security concerns. Because the Bank could not clear the security concerns, the Bank declined the transfer and restricted the Customer’s OSA. On the same day, the Customer contacted the Bank, but security concerns remained. On August 10, 2023, the Customer contacted the Bank requesting to close their OSA. Later that same day, the Bank successfully cleared security concerns, for an outgoing transfer to the original funding account, and closed the OSA.
  Based on the above details, we kindly request this complaint be closed.

  Customer Answer

  Date: 08/15/2023

  
  
  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:08/05/2023

  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.

  They refuse to close my savings account as requested.

  Business Response

  Date: 08/11/2023

  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 5,
  2023. The Bank appreciates the opportunity to address the concerns raised by ***** ******
  (the “Customer”) related to accessing their Online Savings Account (“OSA”).

  On July 24, 2023, the Customer initiated an outgoing transfer from their OSA to an unverified
  linked account. On July 25, 2023, the Bank identified security concerns regarding the account
  and attempted unsuccessfully to contact the Customer to address the security concerns.

  Subsequently, the transaction was declined and the Customer’s OSA was restricted. Later that
  same day, the Customer contacted the Bank however, the Bank was unable to verify the
  Customer. As an alternative verification method, the Bank requested an Affidavit of Identity
  (“AOI”) from the Customer to clear the security concerns. On August 1, 2023, the Bank mailed
  the AOI to the Customer.

  On August 7, 2023, the Bank received the AOI from the Customer; however, after further
  review, the Bank was unable to validate the information provided in the AOI. Due to the
  unresolved security concerns, the Bank made a business decision to close the Customer’s OSA.
  On August 9, 2023, the Customer contacted the Bank to initiate outgoing transfers from their
  OSA to the original funding accounts. The following day, the Bank successfully processed the
  transfers and closed the Customer’s OSA .

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

• Initial Complaint

  Date:08/03/2023

  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.

  Marcus Bank is commiting fraud is on the brink of failure.
  
  Fundamentally a bank is meant to hold money and release it upon my request. Marcus Bank failed to do this spectacularly. I needed to purchase a home, and in doing so I needed to wire money that had been sitting idle for months to a third party escrow quickly. I ended up paying a penalty as I needed to source different funds from a different banks and nearly lost my home because funding inside one of my two Marcus Bank savings accounts was denied to be wired. Funding in the other account was delayed beyond a reasonable expectation.
  
  To be very clear Marcus Bank *actively chose* to deny sending *my money* to the same destination for *one of two* accounts. They employed a discriminatory practice by not disclosing the reasoning, citing a case by case basis without even a hint of why or a policy that was clear. I attempted to contact the bank who structured their support agents in such a way that they could do absolutely nothing and I could not speak to anyone. In the course of one day when I was set to close on a house I spent 4 hours in total on the phone getting the same line, money is processing and we can't do anything. At the end of my home closing, they said one of my transactions was denied from progressing and cannot disclose why. Their front office has no mechanisms to speak to the employees that perform the work and cannot inquire what is going on. They are structured for failure.
  
  They left no paper trial while I tried to initiate a wire, but I have recordings of conversations. I also had my lawyer witness it. This opaque structure prevents the support agents and the bank's consumers from finding out issues ahead of time, limits customers from getting their money, and is set up for a dangerous bank run. The FDIC should be aware and ready to step in.

  Business Response

  Date: 08/10/2023

  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 3, 2023. The Bank appreciates the opportunity to address the concerns raised by ***** ****** (the "Customer") related to transfers from their Online Savings Account (“OSA”). On August 1, 2023, the Customer contacted the Bank to initiate two outgoing escrow wire transfers from their OSA to a third party. The following day, the Customer cancelled the wire requests, as the Bank contacted the Customer, informing them they did not qualify for a third-party transfer exception, per the Bank’s policy. Later that same day, the Customer contacted the Bank to re-initiate another outgoing wire transfer to a linked account, which the Bank successfully processed. On August 8, 2023, the Bank provided a credit to the Customer’s account as a token of goodwill, due to their experience. Based on the above details, the Bank kindly request this complaint to be closed.

  Customer Answer

  Date: 08/12/2023

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

  The bank repeatedly rejected money that I had with them. In their response they admit to denying funds sent to a third party but could send funds to my account a day late after hours on the phone where I had to propose options rather than being given ones. Money in possession marked available for months should be allowed to go whenever I want, especially if the place I want to send it is for a home purchase which will never be an account I own. This is not your typical third party, this was a financial institution and a financial instrument that many consumers deal with. The closing company typically issues wiring details a business day before escrow because all banks they interact with understand that a wire is timely, and Marcus does not handle these accounts with the urgency needed.

  Marcus made no attempt to make it clear why the funds can not be sent, nor provided remedies, it made no attempt to be clear or provide timely options causing a delay in my home closing and racking up fines. They are committing fraud, money that they list as available in my account should be allowed to go whenever I want even if it takes time to process. *The fact that they denied should never be an option.* As I attempted to liquidate the remainder of my funds after this debacle, Marcus took over a week to disburse, by rejecting a transfer initiated and forcing me to restart then having agents call each day to confirm and restarting the clock to buy them more time to find my money.

  Marcus Bank is committing fraud, when money is marked available (and especially if it has been in the account for months) it *must* be made available when the customer asks for it, and it should be disbursed to *wherever* the customer wants especially when the confirm it many times over. Banks cannot have the power to choose if they want to give me my own money or deny without being explicit about the reason and the remedy. The Better Business Bureau needs to step in, if consumers can't trust this bank, then it risks collapse as they become aware enmass.

   

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

• Initial Complaint

  Date:08/02/2023

  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.

  On July 19, 2023, I made a payment of $129.23 towards my Apple credit card. The system charged my bank account twice for the same exact amount. My balance due did not equal to two identical payments. I filed a dispute with them. They stated that no error was made and kept my money. I am paying the card off and canceling it but I want my money back that they had no right to take.

  Business Response

  Date: 08/09/2023

  Goldman Sachs Bank USA (the “Bank”) received the above-referenced complaint
  related to the Apple Card via the Better Business Bureau (“BBB”) Complaint
  Portal on August 2, 2023. The Bank appreciates the opportunity to address the
  concerns raised by ******** ****** (the “Customer”) related to a payment
  refund.

  The Bank conducted an investigation and confirmed no Bank error occurred. On
  July 19, 2023, the Customer scheduled an instant payment of $129.23. A second
  payment in the amount of $129.23 also processed to be paid on July 19, 2023.

  The Customer contacted the Bank on July 20, 2023, to cancel the second
  $129.23 payment. Due to the payment already processing, the cancelation
  request was unable to be completed. As a courtesy, the Bank refunded the
  payment in the amount of $129.23 on August 8, 2023. The Bank apologizes for
  any inconveniences the Customer experienced.

  Based on the above details, the Bank kindly requests for this complaint to be
  closed.

• Initial Complaint

  Date:08/01/2023

  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.

  Marcus has refused to transfer money from my account to my linked external account. Their actions have cost me a home purchase and I still do not have access to my funds. Their staff have been worthless on this issue.

  Business Response

  Date: 08/09/2023

  BBB Response ********* ID ******** (Recd August 2, 2023)
  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 August 2, 2023. The Bank appreciates the opportunity to address the concerns raised by ******************************* (the Customer) related to an outgoing transfer from their ************** Account (OSA).
  On July 28, 2023, the Customer contacted the Bank to request an outgoing wire transfer to a linked account. On August 1, 2023, the Customer contacted the Bank, and a Bank specialist reiterated the wire transfer timelines, per the Banks Deposit Account Agreement (DAA).
  On August 2, 2023, the Bank contacted the Customer and informed that the outgoing wire transfer request has been completed. In addition, due to the experience, the Bank specialist informed the Customer that the Bank will be providing a credit to the Customers account as a token of goodwill. On August 7, 2023, the credit was applied to the Customers OSA.
  Based on the above details, the Bank kindly requests the above complaint be closed.

  Customer Answer

  Date: 08/09/2023

   
  Complaint: 20410113
  
  I am rejecting this response because:
  

  The handling of this was extremely unprofessional by Marcus employees. $100 hush money is unsatisfactory. I would like to be given a higher interest rate as would have been given for a referal bonus.

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

• Initial Complaint

  Date:08/01/2023

  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.

  My GM credit card with Goldman Sachs has charged me interest the last two months. Both times my check was sent the day I received my statement. I paid the full balance both times and was still charged interest. I called in and talked to customer service for an hour and never got the issue resolved. Ive talked to other customers who have had the same issue.

  Business Response

  Date: 08/07/2023

  Goldman Sachs Bank *** (the Bank) received the above-referenced complaint related to the ** Card via the Better Business Bureau (BBB) Complaint Portal on August 1, 2023. The Bank appreciates the opportunity to address the concerns raised by ************************* (the Customer)related to interest charges, payments, and customer service.
  
  The Bank conducted an investigation and confirmed an inadvertent communication error occurred.
  
  According to the Banks records, the account was not paid in full for the statement generated on May 24, 2023 by the due date on June 21,2023. A check payment of $2,000.00 was received and posted to the account on June 22, 2023. As a result, the Customer was charged $57.21 of interest on June 24, 2023. As the May monthly balance was not paid in full, the Bank continued to charge interest on the May balance for the days until the balance was paid in full on June 22, 2023. Interest continued to accrue on new purchases made from May 25, 2023 to June 24, ************************************************* full on July 14, 2023. Paying the monthly balance stopped further interest from accruing. As a result, the Bank charged trailing interest in the amount of $43.00 on July 24, 2023.
  
  To avoid interest charges, customers are required to pay the monthly balance in full as of the end of the previous cycle by the due date every month. If the monthly balance is not paid in full on or before the due date, customers are charged interest on the monthly balance for the days until the customer fully pays it off, in addition to interest accrued on new purchases. This is also known as trailing interest. Additional details regarding how the Bank calculates interest can be found in the ** Card Customer Agreement.

  
  The Customer contacted the Bank on July 26, 2023 and was not provided with an accurate billing explanation in relation to statements and interest charged. Interest totaling $50.00 was credited to the account on July 26, 2023. As a courtesy, the Bank backdated a payment of $2,000.00 received on June 22, 2023 to June 21, 2023. As a result, the payment is considered on-time.Interest charges of $57.21 and $43.00 were credited back to the account on August 3, 2023. The Bank regrets the frustrations the Customer has experienced.
  
  Based on the above details, the Bank kindly requests for this complaint to be closed.