Marcus by Goldman Sachs Reviews

My brother passed away and I'm the administrator for his estate. I needed information from his account to file his taxes. I uploaded documents they requested. It took them a 6 weeks to verify the documents!! I spent many hours on the phone with them and just got the runaround. They went past their deadline and claimed they can just add additional processing time as much as they needed to. This process was very stressful. Marcus Goldman Sachs seems to be OK with how long it took. I've contacted many other businesses my brother had and no one else even came close to this processing time they took.

When buying the Lyriq Cadillac, there was an offer to apply for the GM Marcus Credit Card from Goldman Sachs. I purchased a few things on the card and paid right away. This week we are making plans for a trip to Greece and with a large credit limit I decided to put my hotels, and travel plans on the CC. I received a text asking tom to approve of the charge and I replied yes. Then I received an email to approve the charges and again replied yes. Then both charges were denied, so I called up and spoke to several reps. First said it was an error and sent me to 3 different departments and had at least a 45 minute call. I was advised all is good to go. I reached out to the vendor and they put the charge thru again and it was denied.

I enjoyed this credit card for a while until I had a fraudulent transaction. It was for an online item for which I never received. I disputed the transaction 3 times. I provided proof that the online company had shut down their website, falsified the tracking number they provided, and provided claims from other victims. Despite these efforts Goldman Sachs sided with the online retailer each time. I have never had a credit card company with such bad support of their customers. With so many other options out there I don’t see any reason to stay with Goldman Sachs Bank. Best to stay with companies that support their customers.

On 2/12/2025 I made two transfers from the available balance of my savings account to my external checking account. Later I was informed by Marcus that my transfer was denied dispute the funds already being removed. The representative was unable to provide me any information on why this happened. I then decided to close my account and transfer my remaining balance. I received the remaining balance the very next day on 2/13 but the not two transfers I made originally. I called and was assured my transfer would be sent to my bank. I was advised that the funds was already withdrawn and there were no issues. I called again in 2/14 to make sure that the funds were still being transferred to my external bank and I was assured that it was coming and I needed to wait 1-3 business days.

I stopped using my Marcus/GM Rewards card at some point in the past, but maintained the card account because I have a significant credit limit and the account has been open for approximately 30 years under the GM brand. The card has been invaluable to my family, but several years ago it somehow ended up with Marcus/Goldman Sachs. The problems began immediately and after a few months, I just stopped using it.

I filled out information they required to open a CD. Put my Social Security number as well as all my information. Never heard back from them and now afraid my SS number could be in jeopardy. How do I know if I am safe? After reading many negative comments on reviews?

I have never had a credit card company allow fraudulent charges, over $6,000, and not catch them. Once identified, they disputed if the charges were actually fraudulent, though looking them up online, it is clear that they are fraudulent. After closing my account with Goldman Sachs in September 2024, two months later, a new charge from another fraudulent actor showed up and they allowed the transaction to be processed and are now trying to bill me for this charge. I would like to hold this company accountable. My family has spent days working through all of this only to get additional charges for an account that is closed is unacceptable. Please help!

I had a cd with Marcus that matured on 12/14/24. I wanted the money transferred to an external bank. Marcus claims they sent the money to my credit union on 12/16/24. It is now 1/3/25 and the money still has not arrived. I called Marcus several times asking where my money is and for a tracking number for the transfer. They said they do not have a tracking number and were no help. Supposed to receive a call back from a supervisor. That never happened.

Tried to wire money to an escrow account. It got escalated to a supervisor who said that I wouldn’t be able to from my account but they couldn’t tell me why. They were able to say it had nothing to do with the amount of funds I had and that I would never be approved to wire transfer to an external account. My partner has the same kind of account and was approved for a wire transfer to the same escrow account a few hours prior. I commented that it was race or gender based, and based on their response, I’m not convinced it’s not.

My daughter has had more than one savings account with Marcus for several years. She decided to take advantage of their Referral Program and sent me the link provided by Marcus to open a new savings account. It's been over three months since I opened the account and neither of us has received the promised referral fees. We have called separately and jointly and spoken to their customer service representatives numerous times. We have received many apologies and promises and told our case is "in the queue". It's ridiculous that they continue to offer a Referral Program but refuse to pay the promised referrals. I would not recommend opening an account with this bank.

I am having the same experience as countless others regarding Marcus by Goldman Sachs. The joint account I have opened with my daughter has been locked for no legitimate reason whatsoever. I've had numerous phone calls with representatives and supervisors and the problem still has not been resolved. What is even more disturbing is there are countless online complaints, social media posts, and even Youtube videos of people all having the same issue of their accounts in essence being seized with no recourse, yet this practice is continuing, apparently, with no repercussions at all for Goldman Sachs. These are not isolated incidents, there are many and they seem calculated and deliberate. I cannot even believe this is being allowed to happen! A lot of Americans are being harmed by this institution and we need a Federal Agency, a States Attorneys General or our elected officials to step in and put a stop to this outrageous practice.

Awful. Wish I could give no stars. The only word to describe them is awful. We have had a GM card for 25 years and a couple years ago Marcus by Goldman Sachs took it over and nothing but issues. They have posted payments received on time late and charge fees. Documentation shows the payment received on time but their “internal processing” delays it and then they charge late fees and interest which then they have to correct. Then a lost card reported and they cancel the wrong card.

Two days ago discovered my account was compromised, and of the 7 customer service agents I've worked with so far to report, only 2 seemed knowledgeable and competent. Surprising terrible customer service for Goldman Sachs. A similar situation with Chase was far superior.

My 100+ year old aunt died this year after having a GM Rewards Card for many years. Because she did not drive for the last ten years of her life she did not own a car. At her death the many years of points went away because Goldman Sachs said they cannot be transferred to her estate. Thanks for nothing GS.

Horrible at customer service and customer experience. This bank has refused to return my funds back, extremely long wait times and their representatives are by far the worst by far. They’re just trying to read scripts. They lie about their APY rate too. They never offer a solution or have a resolution.

I am having horrified experience with Marcus by Goldman Sachs. Company hold mine check for 2 months. I make 13 phone calls and 4 email but no action has been done and every time You talk to different person and None of Supervisor can provide correct info.

Got Screwed. Opened a 5 year CD to lock in the 4% rate. It was quite difficult to link my external bank (Betterment). I made a $500 deposit to the CD to make sure everything was working before transferring the full amount. It worked fine. Next, I made a much larger transfer. I get an email from Betterment the next day that the transfer was reversed. I called Marcus and they said everything is fine and to check tomorrow. They notated my account. I checked every day for the next few days and my balance on the CD was correct with the full amount. Fast forward a week and a half. I log in to check my account and see my CD balance is down to the original amount and not correct.

It's okay when things work, but the moment there's a conflict expect time wasted on their customer service. I wanted to close my account and transfer my funds. I confirmed my identity and made the request through their customer support, only to have a restriction placed on the matter. Missed a call from them the next day with, called back and the representative is unaware of why I received a call. Informed them of my intent the previous night and it took 2 hrs of being placed on hold and their representatives trying understand what is going on to simply transfer my funds. Their service agents were nice enough to try to resolve my issue, but there is so much internal chaos within their system of accessing notes - the details of when, how, why, who that it took so much digging to resolve. Not a service I'd recommend.

This has been the worst banking experience I’ve had in 40+ years. I opened an online savings with Marcus for the favorable interest rate. Two weeks after opening it, they lowered the interest rate drastically. I requested to transfer my funds ($50k+) to another bank, provided the routing and account number, and even did a 3-way phone call with my other bank and Marcus per Marcus’s request, but Marcus is refusing to send me my money. The first phone rep I spoke with there actually told me “you cannot withdraw money from this account because it’s a savings”. What?? Now they’re saying the account is too new to close it.

I am completely disenchanted by this company. I opened a high yield Savings account, transferred $300K from one bank account, and $40K and $36K from two other personal bank accounts into my new Goldman Sachs Savings account. They advertise "Flexibility", "add or withdraw money at any time", "Same-day transfers of up to $100,000 or less to/from other banks". Each Deposit to my savings account from all three outside banks went through without a glitch, happening within a day. However, when I attempted to transfer money out of the savings account back into one of my bank accounts, it was "cancelled/Reversed" without any notice or explanation.

Warning!! If this bank restricts your account for any reason it will take literally months to clear it up. After making a transfer to a new bank account the bank called to talk to my mother who was 99 years old. I believe they called to verify the transfer. She answered 3 security questions but could not answer what color her hair was on her driver's license so they restricted her account. Note she does not have a drivers license. My mother is losing her past memories but is present and logical in the moment. They had us both on the phone for over 40 minutes. She was so worried that she began to have a panic attack.

Wire transfer with Marcus especially large amounts is too difficult. Even after they approved the transfer through phone they later rejected my transfer. This happened to me two times. To add to it, they do not allow a wire transfer of money to an account other than an account under your name. I left my money with them for a down payment of the house and when it was time to close the house purchase, Marcus told me they could not transfer the money to the title company. They said they could transfer it to my personal account at another bank but they rejected that transfer too. The online account tells me that my full balance is available to cash out but they said you can send the money back to the account it came from.

Marcus is the worst. I had a Marcus account for years with nearly $1M total. Twice now, when I made a withdrawal I would get confirmation that the withdrawal was released and electronic funds were sent. Days later, they would call me to confirm the withdrawal, and if I did not pick up their message would say that they reversed the funds. I don't mind them taking time to do their due diligence, but that is before you release the funds. I almost lost a property because my escrow payment was reversed. DO NOT USE MARCUS. You can get a competitive savings rate through Morgan Stanley or E-Trade instead. And Morgan Stanley and E-Trade are a far better run company that is far more customer centric.

I have had the worst experience with this bank. Not only are their employees incompetent, but the bank is a scam. A couple of weeks ago, I accidentally made a payment from a bank account that I previously used to fund an account, but I no longer use it. My payment was returned, and I Instantly called them and made the payment in full. The representative told me that all the fees and interest for those two days were waived, and I thought the problem was rectified. To my surprise, I received an email update to me about my account which I had not use my credit card for this month, so I was a bit surprised to see that I had $11:85 charge on it. So I called them, and they told me that they charged me $11:85 from the previous statement that I had Rectified. But the interest carries over to the next month even though it was paid in full two days later.

On Aug 5, 2024, I opened a CD with Marcus by Goldman Sachs, and transferred 10,000.00 from my savings. Aug 8, 2024, I transferred 10,000.00 from another Goldman Sach account. Aug 14, 2024 I inadvertently transferred 10,000.00 from an account, which held earnings from my business. I was not aware at the time of the restrictions as I had not yet received any documents regarding them from the bank yet. I was later advised that the transfer from the business account was not possible, and that the funds would need to be withdrawn. I contacted Marcus, whose representative advised the transfer would need to be done on their end, which I authorized. I then received a call from Marcus advising the transfer was denied, and that the account would have to be closed, and all the deposits returned. I agreed, and authorized the closing of the account and return of the deposits.

I wish I had read many of these negative reviews before giving money to Marcus. How have they not been shut down? How is it possible that I transferred money to Vanguard and Marcus snatched it back with no notification? I have called every day for the last week to see why the funds were reversed and why there is now a hold on them. I talk to reps, supervisors, but am not given access to the review team. I filed a complaint with CFPB today and we’ll see if that gets my money back.

I’m almost certain scammers clones the customer service number. Husband lost wallet and we wanted to cancel a GM rewards card. Got phone number off a statement. It was nightmarishly bad and so many things happened that led me to believe they are scammers looking for credit card number or social security number. In the end nothing happened except we got two phone numbers that might be helpful. One was for DIRECTV and the other Citibank. I made a fraud complete with the FTC and suggest others do the same.

My total dissatisfaction with my experience with opening CDs with Marcus.com. On 7.24.2024, I opened 3 CDs and sent $2,500.00 from my online bill. Pay from my Bank to Marcus Goldman Sachs PO Box 4571 Carol Stream, IL 60197. Marcus cashed my check. Took the funds from my account, never deposited them into the 3 CDs I opened and today 8.16.2024 they closed the 3 CDs saying I never funded them. I have called them so many times that I have now taken to writing to the BBB, the CEO, COO and owner of Marcus of the unfair treatment they have bestowed upon me for a month now.

Absolute worse experience! Tried for 1 1/2 hours to open an account, not take money out and they make it impossible to add a joint owner to a CD. Never ever again will I ever try to give them money....They just want your SS # and who know what they do with it, just terrible.

Have been using Marcus for high yield savings account, regularly transferring funds in for several months. When it came time to withdraw funds four months ago, they blocked the transaction without giving me any reason and then allowed the transaction (which led to my incurring fees/interest for a late payment). Today learned that they blocked withdrawal for my school payment because account was still frozen from the prior transaction. Customer service could not provide rationale for why it was frozen. When I requested details about their attempts to contact me about the account, they indicated that there was an attempted phone call, no message left and no other contact made.