Reviews

This profile includes reviews 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

  
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  Marcus by Goldman Sachs

  PO Box 1978 Cranberry Twp, PA 16066-0978

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  Marcus by Goldman Sachs

  PO Box 45400 Salt Lake City, UT 84145-0400

  

Review Details

• Review fromCarson J

  Date: 08/23/2024

  It's unbelievableIve had an account here for four years and never had any issues transferring money. However, when I recently tried to make a transfer, I received an error message. I called the support number and, after a lengthy verification process, was informed that my account has been closed. They said they might be able to provide more information in 3 to 5 days, but they're not sure if or how my money will be returned to me. I'm now considering whether I need to get an attorney involved. This is incredibly frustrating, especially since this account was just my savings for an emergency fund. I strongly advise against opening an account hereit's not worth the potential hassle or risk.

• Review fromMiriam B

  Date: 08/23/2024

  Six months ago I had identity theft. Because of this I was told by the ***resentative at Marcus that I could stop outgoing online transfers, and Marcus would allow transfers I make by phone ***l. Now I need make a transfer Marcus is not letting me saying there is a hold on my account and it needs to be review. they said it to ***l and chech about it in 5 to 7 days. She wouldnt make the transfer because there was a hold on my account. I was put on hold while she transferred me to security. After a long wait they answered. The *** said there was a hold on my account and she would lift it. I went through he identity confirmation steps again and was told that they also needed to ***l me to confirm my identity (again - I had done this before). They ***led. I was put on hold so she could go over my account. When she got back to me she said the hold could not be lifted and it would have to be reviewed. She said I should ***l back in 5 to 7 days for an update. I asked cant I be notified by Marcus or get a *** to fix this problem she said no, I have to ***l them. I couldnt believe I was treated with such a lack of any kind of concern at this bank. How can a customer be left without any way to access their own money for 5-7 days or indefinitely. I asked to speak to a supervisor and was transferred and no one answered. The ***resentatives, as another reviewer said, are great at reading the same lines over and over again thanking me for my patience and apologizing, wasting time, but not helping. After this horrible experience I ***led another high yield savings account, Amex, at which I had also put a hold on online transfers, to see if I would have the same problem. After I was identified, the hold was lifted - on the same brief phone ***l! Marcus is keeping my money with no legitimate reason. My identity was verified by multiple steps, multiple times. This should be illegal. This company is a must to avoid!

• Review fromLouAnn S

  Date: 08/22/2024

  ZERO STARS for Marcus by GS 07.24.24 sent in large withdrawal request for my regular savings account, which was rejected. ***** called to ask why it was denied. They said account was under review but would NOT tell me why. Said I couldn't access the money for 3-7 days. NO explanation. ***** email from Marcus stating to call them. Upon giving my personal information to identify myself (birthdate, SS, who I live with, and previous address), they said I 'failed the authentication test'. Impossible, as these are FACTS of my life! Wouldn't tell me what I supposedly got 'wrong'. Said only way to authenticate me is to send me a packet that I have to fill out, notorize and send back. I should receive it within 7-10 days. (couldn't they email the packet?)08.17 Still NO packet. I called stating I want access to my money and now want to CLOSE my entire account. ****** said no supervisors were available until Monday, and repeated what had previously been said. Said she'd try to reauthenticate me another way; by sending a code to another phone number (I only have one cell phone number, like most people), and then asked what state my driver's license was issued in. When I said, **********, she said, 'no, that's not a state that we work with. Said she could see the packet was sent to me, but again I told her I never received it. Said when I do receive it and send it back, it'll take another 10 business days for them to process it. They have hijacked my money for almost a month now!Note: I did a search for similar complaints against Marcus through the BBB and CFPB; found dozens of complaints about Marcus holding people's money hostage with false claims that they didn't pass the authentication. Too many to be a coincidence.08.17 I accessed my account online and tried to make small withdrawals/transfers, but all were denied; then they completely froze my account so I cant even access it.08.22.24 Still NO packet from Marcus Goldman in the mail (14th business day now).

• Review fromStephanie L

  Date: 08/20/2024

  Marcus froze my account against my will two times within the span of four months. In both cases, it was due to an error on their part.The first time, Marcus called me to check on a scheduled transfer from my account. I approved the transfer over the phone with a Marcus ***resentative. I was told the transfer would occur as usual since I had approved it.Several days later, I was notified that my mortgage payment was late. I discovered that the transfer was reversed after all, even though the Marcus *** told me they would approve it on their end and that it would go through.Since the transfer was reversed against my instructions, my mortgage payment did not go through and I incurred an overdraft fee on top of that. I called for an explanation of the situation and was told I could submit a claim. Even one of the Marcus ***s I spoke with acknowledged that it was curious that Marcus had even done a verification check on that particular transaction since it was an automated, monthly transaction that had been going on for over 3 years; it was anything but suspicious. Marcus finally unfroze my account, but refused to reimburse me for the overdraft fee.Several months later, I got a voicemail from Marcus. I called one minute later. After waiting on hold and being transferred to various ***s, I was connected with a *** who asked, Do you have an alternate phone number? I said, no this is my only phone number. She put me on hold again. Then she said that since they cannot authenticate my phone number, someone will call me again in three to five business days. She was ready to end the call, but I asked if she could explain what was going on. She simply ***eated over and over again that they could not authenticate my phone number. I asked if talking to them from that exact phone number was enough; it wasnt. Now my account is frozen again and my planned auto transaction was reversed. Currently waiting for them to call me so I can beg them to unfreeze my account.

• Review fromLynette P

  Date: 08/19/2024

  I think Marcus by Goldman Sachs is a scam. I have had a GM card for 23 years.About a year ago my GM card was replaced by GM Marcus by Goldman Sachs by no decision of mine!!!Since Goldman Sachs took my card over I have NOT been able to use my rewards!!!! I have $5400.00 in rewards that are worthless.So beware!!!

• Review fromATINC S

  Date: 08/19/2024

  I've started using "Marcus by Goldman Sachs" for my business as Amazon recommended them for business line of credit. Application was straightforward, my business got approved quickly and started using the line of credit. After a few months later, one of my withdrawal requests for declined. I contacted customer support and was told that "there is a delinquency warning on my credit reports, by Equifax" and need to wait for 30 days to re-try; which didn't make sense. I contacted ******* and purchased credit reports to make sure, one for personal and one for my business. As I expected, there was no delinquency on any of the reports. I contacted Marcus customer support and escalated the issue but no action was taken even after 2 months. Do not work with this financial institution, they are not professional.

• Review fromEfrain R

  Date: 08/16/2024

  Stay away. Had this for a year with no issues, once I tried to take out cash it became a problem. My bank is "verified" and even funded this account in the first place. Made a transfer with no issues. Tried a second one and then my bank was unverified and needed to call in to clarify this issue. They just don't want to give up the cash once they have it. For this reason I'm closing the account. Long call wait times and seems like they are unorganized. App is slow and the chat feature *****. They lack the basics that other banks have. Only joined because they had a good rate but Sofi is higher and better so will be going with them instead. Thought goldman slacks would have been better but hey you live and you learn.

• Review fromZakkery T

  Date: 08/16/2024

  I am working with the investigation team, but so far the experience has not been great. My card through Marcus has been declining charges and I can't get them to go through after approving the charges. When you contact support they say it's because of the merchant reversing charges. The merchant blames the bank and recommends a different card. I try my other card through ************ no problem. I try my wife's credit card no problem. Yet, Marcus support still blames the merchant. I read another review on here from July. I think their fraud protection is too strong even after approving charges. It would be nice if they actually offered to dig more and see the problem lies with them as a card service.

• Review fromBrittany H

  Date: 08/15/2024

  IF I could give 0 stars I absolutely would!! Recently opened up a HYSA with this company based on reviews and recommendations which is my go to before I make any decision. This was probably the worst decision made. I opened my account last month & recently went to go withdraw some funds from the account. Logged in online to make the transfer & received a notification that I had to call in. Okay not a problem as Im thinking this may be a protocol for a first time transfer. **** nope that wasn't the case. When I called on August 15th, I was told that my account was being forced closed by the company and that they could do so at their own disclosure. Never provided a reason as to why & just stated that its their call to do so. At that point I got frustrated because my money was in there and an investigation was underway so I couldn't even get an answer as to when my money would be released. Spoke with a manager named ***** and she told me I could call back everyday for an update. First of all, don't play with me or my money. Oh I didn't mention the tedious phone verification process you have to go through before a representative can authenticate your account. A NIGHTMARE. Called back today to get an update on my account. For the first time I got to speak with someone named ****** who seemed very helpful in assisting me with answers. That is, until the phone disconnected & I couldn't get him back. Called again and spoke with someone named **** and she may as well not even be employed. ABSOLUTELY NO HELP AT ALL!! IF YOU DON'T WANT TO WORK AND HELP PPL, FIND ANOTHER JOB!!! Finally got connected to a gentleman named ****** and he was the most helpful. Funny how he never stated my account was getting closed or anything. He lifted some type of restriction off the account and told me I was able to transfer my funds now. I stayed on the phone with him while doing so and sure enough I was able to move my funds back to my account. Long story short...find ANOTHER bank to use!

• Review fromMassoud S

  Date: 08/13/2024

  Opened an account on Aug 12, 2024, log-in doesnt work on Aug 13, 2024, account is locked on my end but shown active of Marcus end Called and spoke four times including with a supervisor and a tech-person, NO solution. Lousy service in my caae. Except corruption, no idea how Marcus in ranked no. 1 on JD Power