Product: Money transfer, virtual currency, or money service

I recently tried to buy an XXXX and sent the {$400.00} as payment through XXXX. I have sent the payment under the impression that Ally Bank has protection if this would be a scam. I sent the amount to the person through XXXX and was waiting on the product on XX/XX/2019. The person never sent it to me and took my money. After that, I reported a problem with Ally with the impression that they will investigate and get my money back. They did not. They say that I sent the money and said that they can't do anything. 

I have written confirmation from the Ally Representative that if the item would not be sent I would have protection to get a refund. Then I spoke with Ally representative to start this investigation and he said that it is out of there hands. NO HELP and Claims not provided. Dishonest practice. 

Chat start time Sat, XXXX XX/XX/2019 XXXX XXXX XXXX Chat end time Sat, XXXX XX/XX/2019 XXXX XXXX GMT Duration ( actual chatting time ) XXXX Operator XXXX Chat Transcript Info : Welcome to Ally 's Live Chat. Thanks for joining us! A Customer Care Associate will be with you as soon as possible. If youve tried to reach us lately, youve probably found our lines to be longer than usual. Were sorry for the inconvenience, and were working on it. 

Chat Log : You are number 1 in the queue. Thank you for waiting.

Info : We'll be right with you. Thanks for your patience! You are number 1 in the queue. Thank you for waiting.

Info : We'll be right with you. Thanks for your patience! You are number 1 in the queue. Thank you for waiting.

Info : We'll be right with you. Thanks for your patience! You are number 1 in the queue. Thank you for waiting. 
Info : You are now chatting with 'XXXX ' XXXX : Hello, this is XXXX from XXXX . Thank you very much for waiting, I greatly appreciate your patience today. We are currently experiencing higher chat volumes than normal, and I am terribly sorry for the delay this has caused. How may I assist you today? 
XXXX : Im trying to buy a phone online and the person wants to send the iphone as delivery. If i send the money through XXXX and he doesn't send the iphone, do i get my money back? 
XXXX : protection using XXXX on Ally. 
XXXX : I can certainly look into this for you, XXXX. XXXX I have XXXX-5 minutes? 
XXXX : yes XXXX : Thank you for waiting. I'll be with you in just a moment. 
XXXX : ok XXXX : I'll be right with you. 
XXXX : ok XXXX : Thank you for your patience. You would be able to dispute the XXXX transaction in this case, yes. 
XXXX : The transaction would then be investigated by our disputes team, who would work on having the funds returned to you once it is determined that you did not receive the merchandise. 
Info : The chat transcript will be sent to : XXXX at the end of your chat. 
XXXX : Was there anything else I could assist you with today? 
XXXX : I have not heard from you for a few moments. Are you still with me? 
XXXX : Im sorry that we're not able to continue our conversation. Since I have not heard from you for some time, I am going to close this chat. If you need any help in the future, please do not hesitate to contact us XXXX via chat, email, or by calling XXXX ( XXXX ).