A relative sent me a domestic wire transfer from Bank of America around 10 PM PST on Friday, and it’s now Thursday, but I still haven’t received it. I’ve been checking with my bank consistently for any incoming, pending, or rejected wire transfers, but they haven’t seen anything. In the past, a wire transfer between these two accounts arrived within the business day, as expected. I know we need to investigate further, and I’m waiting for a reference ID number from the sender. I’m just wondering if there’s anything else I can do to expedite this process, as I’m worried about missing bill payments. Thanks in advance for any advice you have.
Hello, What is the amount of the wire transfer? For smaller sums, Zelle or other P2P services are usually better options. How was the wire initiated? Did they do it at a branch or online? Ask them to double-check the wire for any errors, such as the beneficiary name, routing number, or account number.
Since you mentioned they’ve wired money before, if it was done online, their payee information should be saved. There’s also a possibility that it might be held for review if something in the wire raised a red flag with the bank.
Hey, When initiating a wire transfer, there’s a section at the end for additional notes or comments. I’ve seen wires flagged over just a single word.
For instance, someone renting their yacht included the yacht’s name in the notes, which caused the bank to flag it because they weren’t familiar with the name.
The sender should contact their bank to open a wire case regarding the missing transfer (trace) so they can determine what went wrong. This is the official procedure.
As for additional steps, it may vary, but the sender should obtain the federal wire reference number. Once they have that, they can try calling their bank to speak with someone in the wire department to see if they have any information. I’m not sure if Bank of America allows customers to speak directly with their wire department, but a branch banker or a phone representative might be able to reach out on their behalf.
Hello there, They typically aren’t processed much outside of that timeframe. A wire sent at 10 PM on Friday wouldn’t even begin processing until Monday. Considering two business days, you’re just on the edge of that. However, I agree that the sender should follow up with their bank.
People often do the same with ATMs, saying, “But I deposited my check on Saturday morning!” Just remember, if it states next business day, that means it will be processed on Tuesday.
Hey, The amount is less than $10,000. I’m currently having some issues with Zelle, but I’m hoping to resolve that soon. They initiated the wire online, and yes, all the account numbers and my information were saved, so they used the exact same details as last time. If it’s being held for review—which I can’t think of a reason for since it’s only a couple of thousand more than the previous wire—what can I do to resolve the situation?