Mistaken wire transfer/payment error

Andrew Martin13 said:He really should have been sitting there by yesterday at the latest. Either you botched the transfer or something else went sideways. Just head down to Bank of America and figure out where the funds landed and if you can actually get them back.

think there's actually a chance to get that money back...

That’s a tough one. Honestly, you aren’t going to get a straight answer from anyone except a banker. It all depends on where that money actually landed. If it got sucked into some frozen account... well, you might as well start packing your bags. If it went to another individual, you're basically stuck trying to negotiate a refund and praying they actually have a conscience. I really hope you at least included the recipient's name so the error can be documented. Good luck 😉

Henry Edwards33 said:That’s a tough one. Honestly, you aren’t going to get a straight answer from anyone except a banker. It all depends on where that money actually landed. If it got sucked into some frozen account... well, you might as well start packing your bags. If it went to another individual, you're basically stuck trying to negotiate a refund and praying they actually have a conscience. I really hope you at least included the recipient's name so the error can be documented. Good luck 😉

I just grabbed the account number and sent the money without even looking at the name, so now I have no clue which specific account it actually hit or whose name is on it

Kyle Sanchez8 said:So, what happens if I sent my buddy some cash via Bank of America last Friday, and he’s just now checking his account only to realize it hasn't shown up yet... even though the money definitely left mine... is there any way to actually get that back...

Were you transferring from one bank to another—like from Chase to Bank of America—or was it an internal transfer within the same bank?
If it was the first scenario, the transaction might not show up until later this afternoon (even though it should have cleared yesterday or this morning). However, if it was an internal transfer, the money should have hit his account instantly.

If the money was actually sent to the wrong account entirely, you'll need to request the recipient's consent to reverse the transaction. They aren't obligated to sign off on it, though. If they refuse to cooperate, your only real recourse would be to file a claim to recover the funds.

Lawrence Cruz said:Were you transferring from one bank to another—like from Chase to Bank of America—or was it an internal transfer within the same bank?
If it was the first scenario, the transaction might not show up until later this afternoon (even though it should have cleared yesterday or this morning). However, if it was an internal transfer, the money should have hit his account instantly.

If the money was actually sent to the wrong account entirely, you'll need to request the recipient's consent to reverse the transaction. They aren't obligated to sign off on it, though. If they refuse to cooperate, your only real recourse would be to file a claim to recover the funds.

I was at Bank of America depositing directly into Bank of America.....

So, the money's gone from my account, and it’s showing his specific number as the recipient on my end... yet when he checks his own statement, there’s absolutely nothing there...

It’s possible the transaction hasn't been officially posted to the account yet—that kind of thing happens more often than you'd think, I suppose.

Bryan Diaz said:It’s possible the transaction hasn't been officially posted to the account yet—that kind of thing happens more often than you'd think, I suppose.

So I went ahead and sent him that money for the junior savings account at Bank of America on Friday...

Can I throw one more question out there... A buddy of mine told me he sent some cash over to my account, but when I checked, there was absolutely nothing there. Now he’s insisting the money left his account and went straight to my info, so we're basically at a standoff, but how on earth is he supposed to actually prove he made the transfer in the first place...

Just provide a payment confirmation—either the receipt they grabbed at the Bank of America or a PDF printout if they handled the transfer via IB.

Nicholas Turner said:Just provide a payment confirmation—either the receipt they grabbed at the Bank of America or a PDF printout if they handled the transfer via IB.

So basically, they just scan the receipt to prove it went through...

Kyle Sanchez8 said:I was at Bank of America depositing directly into Bank of America.....

That money should have hit the account immediately.

Kyle Sanchez8 said:So, the money's gone from my account, and it’s showing his specific number as the recipient on my end... yet when he checks his own statement, there’s absolutely nothing there...

Kyle Sanchez8 said:
So, this past Friday, I deposited money into the Rhythms Junior Savings account at Bank of America.

The Bank of America website lists "Rhythms Account" and "Rhythms Student," but there's no mention of a "Junior" version.
However, for both types, it states:🤷
Account balance reports and interest credits are provided once a year.
* Clients can check their daily balances at a branch, an ATM, or through online banking, even if official statements are sent annually.

He should just head down to a local branch, request a transaction history for the last ten days, and that should clear things up. If the money isn't there, go to the branch with him—bring the receipt—and get it sorted out.

So here’s the deal on this situation... A buddy of mine sent some cash over to my account at Bank of America, but nothing's showing up on my end yet... He says the money left his checking account over at Chase, and since it's already been six days, I'm wondering if it's even possible for the transfer to be lagging this much...

Nicholas Turner said:Just provide a payment confirmation—either the receipt they grabbed at the Bank of America or a PDF printout if they handled the transfer via IB.

You’ve actually already been answered on this one. ☕

It should have landed in your account within a day or two at most.

Henry Edwards33 said:You’ve actually already been answered on this one. ☕

It should have landed in your account within a day or two at most.

I'm not entirely sure, but he did send over the confirmation, even though there's no online banking available... what I'm really wondering is if the transfer just hasn't cleared yet since it was sent from one bank over to another...

Look, nobody—and I mean absolutely nobody—throws around a receipt until they’ve confirmed the funds actually cleared or the job is officially done. 😉 If you ask me, this is just a blatant excuse—or maybe even a flat-out lie—to cover up the fact that he hasn't sent the money yet. His last resort? He could head down to a Bank of America branch and try using those puppy-dog eyes to ask for the exact date and time of the transfer—maybe then some teller will take pity on him and print out a duplicate receipt, which would finally let him track down where the payment went... assuming it ever existed in the first place.

Nicholas Turner said:Look, nobody—and I mean absolutely nobody—throws around a receipt until they’ve confirmed the funds actually cleared or the job is officially done. 😉 If you ask me, this is just a blatant excuse—or maybe even a flat-out lie—to cover up the fact that he hasn't sent the money yet. His last resort? He could head down to a Bank of America branch and try using those puppy-dog eyes to ask for the exact date and time of the transfer—maybe then some teller will take pity on him and print out a duplicate receipt, which would finally let him track down where the payment went... assuming it ever existed in the first place.

THAT’S THE WHOLE POINT!!!!!!!!!I’m pretty sure he never actually sent me anything

I’m using JPMorgan Chase. I try to set up a transfer for Person X, who uses Bank of America. I am absolutely certain I typed in Person X's account number correctly—except for one tiny detail: I accidentally used a JPMorgan Chase account number instead of a Bank of America one. Naturally, JPMorgan Chase pings me immediately saying the details don't match. Fine. I look closer and realize my mistake. I was trying to send money from JPMorgan Chase to Bank of America, but I basically input a JPMorgan Chase routing info by mistake. Thinking the first transfer failed entirely, I go ahead and submit a second order with the correct Bank of America account number. Then, just to be safe, I hit the "cancel/reverse" button on that first bogus transaction.
I seriously had a meltdown when I saw what happened... the payment went through twice. One amount actually reached Person X, and the second amount was processed internally within JPMorgan Chase.
So here's the deal: they told me there was an error, they refused to honor my cancellation request, and instead, they just sucked the money out of my account twice.
What am I supposed to do now? How do I get my money back? Isn't the bank partially at fault here for not catching this mess?

Nicole Jackson9 said:I’m using JPMorgan Chase. I try to set up a transfer for Person X, who uses Bank of America. I am absolutely certain I typed in Person X's account number correctly—except for one tiny detail: I accidentally used a JPMorgan Chase account number instead of a Bank of America one. Naturally, JPMorgan Chase pings me immediately saying the details don't match. Fine. I look closer and realize my mistake. I was trying to send money from JPMorgan Chase to Bank of America, but I basically input a JPMorgan Chase routing info by mistake. Thinking the first transfer failed entirely, I go ahead and submit a second order with the correct Bank of America account number. Then, just to be safe, I hit the "cancel/reverse" button on that first bogus transaction.
I seriously had a meltdown when I saw what happened... the payment went through twice. One amount actually reached Person X, and the second amount was processed internally within JPMorgan Chase.
So here's the deal: they told me there was an error, they refused to honor my cancellation request, and instead, they just sucked the money out of my account twice.
What am I supposed to do now? How do I get my money back? Isn't the bank partially at fault here for not catching this mess?

Wait, what do you mean? You're saying JP Morgan Chase sends you a notification that the data is incorrect? 🤷

Anything you do through online banking is on you. You enter the numbers; you initiate and execute the order. If the order was sent incorrectly, the bank can't just undo it.

As for getting the money back—I've seen similar situations. Usually, the bank contacts the person who received the funds and asks for their consent to return it. That person can refuse. If they do, your only real recourse is to sue them. In those cases, the bank provides the recipient's details. I'm not sure what the current "policy" is, but if they won't release the info immediately, they will have to do so under a court order once you file a lawsuit.

So, I noticed today that someone actually dropped $1333 into my checking account. The transaction description says "child support/alimony."
What on earth am I supposed to do about this?
Should I just head down to the local Bank of America branch and explain the situation so they can redirect the funds to where they actually belong, or will they just realize their mistake and pull the money back out of my account themselves?