Consumer complaint received 2023-06-15
Company: DISCOVER BANK
State: OH
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Money was not available when promised

Complaint:
I attempted a domestic wire transfer with Discover Bank on Thursday, XX/XX/XXXX for a house closing. The wire was submitted to Discover at XXXX ET. For context, the cut off time for same-day processing provided by Discover is XXXX ET. 
I was told by a Discover Wire Specialist that a federal tracking/reference number would be provided to me, and if I didnt receive one 2 hours post receiving the processing confirmation email, that I could call them for one. I received the processing confirmation email at XXXX ET. 
Over the next 30 hours, I contacted Discover 10 separate times for an update on tracking to which most of my concern was dismissed by their wire specialists and I was told to just wait as the Federal Reserve is sitting on the money and hasnt released tracking to them yet, so there is nothing [ Discover ] can do to help. 
After contacting Discover additionally multiple times on Monday, XX/XX/XXXX, as the Federal Reserve is closed on the weekends, I was finally told that the money was never sent to the Reserve at all. My wire was now sitting with Discovers intermediary bank, the XXXX XXXX XXXX XXXX XXXX. And still, there was absolutely nothing Discover could do to help. This is now almost XXXX business days later and I have not received any update on where my money is in addition to constantly receiving conflicting messaging from Discover wire specialists, including that this whole process shouldnt take longer than 2 business days. 
On Tuesday, XX/XX/XXXX, the wire was sent back to my account after following up additionally on my own. I inquired about the reasoning for the wire not being processed and was told there wasn't any specific reason, only that they would not be processing it. They told me that reason is left to interpretation as they do not have to give me any additional information on the matter. This was incredibly frustrating as now I am late to closing on my first home, as well as now being back to square one with no information on what went wrong, or any offer of assistance to make it right. 

After countless calls to Discover, the Federal Reserve, XXXX XXXX, and even a real estate lawyer to chase down my own money as Discover refused to help me, I am left feeling the utmost lack of confidence in Discover as a financial institution. Discover has put me and my family through extreme emotional distress during this process. Distress that we are still under, as we face penalty from our seller and lenders for Discovers careless ride with our hard earned first home funds. 

If you're reading this and debating using Discover for something as standard as a domestic wire transfer, I urge you to rethink. Unless of course you enjoy giving your money to an online bank that will happily take it and then sit on it for their own financial gain through earning interest on it and then dispose of you without any concern to help with the mess they created for you. Just my two cents.

Company response to consumer: Closed with explanation