Consumer complaint received 2023-07-10
Company: DISCOVER BANK
State: PA
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other transaction problem

Complaint:
I am writing to file a formal complaint against Discover regarding a recent experience involving two failed Automated Clearing House ( ACH ) transactions and the subsequent challenges in retrieving the funds. I am seeking your assistance in facilitating a resolution and the return of my funds. The details of the events are as follows : On XX/XX/XXXX, I initiated two ACH transactions, each for {$20000.00} and {$30000.00}, from my Discover savings account to two joint XXXX CD accounts held by my wife and me. Regrettably, on XX/XX/XXXX, we received notifications from XXXX XXXX stating that both transactions had failed. Naturally, we anticipated that the funds would be promptly credited back to my Discover savings account. However, to our dismay, the funds did not reappear even after several days had passed. 

Upon contacting XXXX XXXX for clarification, I was informed that due to the joint CD accounts being associated with my wife 's profile, only she was authorized to make deposits into them. Consequently, my funds were rejected for deposit. XXXX XXXX attempted to return the funds ; however, their policy prohibited them from doing so, as I, being the sender, did not match the intended receivers ( my wife and me ). They advised me to contact Discover and request an ACH return accordingly. 

Taking their advice, I promptly reached out to Discover and initiated a dispute regarding the failed ACH transactions. To my disappointment, after conducting their investigation, Discover concluded that the ACH transactions were successful and asserted that they had no grounds to request an ACH return. I relayed this information to XXXX XXXX, but they remained firm in their stance that only Discover could initiate the ACH return. Despite numerous attempts to resolve the matter with both Discover and XXXX XXXX, neither party has been able to provide a satisfactory resolution. 

This ordeal has left me in an immensely frustrating situation where my funds remain trapped between the two institutions, with neither party accepting responsibility or offering a viable solution. To address this issue comprehensively, I have filed a separate complaint against XXXX XXXX through the Consumer Financial Protection Bureau ( CFPB ). Following their investigation, XXXX XXXX informed me that my funds are currently being held by XXXX, reinforcing the need for Discover to facilitate their return. Consequently, I am now seeking the CFPB 's assistance once again, this time to help facilitate a resolution from the Discover side and ensure the prompt return of my funds. 

For your reference, I have attached the following supporting documents : 1. XXXX XXXX XXXX response to the issue 2. The email notifications received regarding the failure of the ACH transactions 3. My Discover account statement illustrating the two transactions I kindly request your attention and intervention in this matter to help rectify the situation swiftly. I am hopeful that your involvement will bring clarity to the responsibility for the funds ' retrieval and lead to a satisfactory resolution.

Company response to consumer: Closed with explanation