Consumer complaint received 2022-08-06
Company: PNC Bank N.A.
State: TX
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Confusing or missing disclosures

Complaint:
I placed an International consumer money transfer in the amount of {$4000.00} XX/XX/2022, from PNC Bank XXXX XXXX Bank in XXXX, XXXX, XXXX Bank XXXX XXXX. The {$4000.00} was received in XXXX Bank headquarters, but could not be assigned to beneficiary account due to incorrect beneficiary account name and number. I was advised by PNC to file amendments for beneficiary account name change and account number change, in person through PNC bank XXXX XXXXXXXX, and then through PNC Wire Disputes XXXX XXXX directly, XXXX XXXX refused to call, stating this was the same number he would call anyways. Similarly, a request to the PNC bank XXXX was unhelpful. He told me to call the same number. I did call this number and file several amendments for beneficiary name and account number, however, according to the abundant emails provided by my beneficiary, XXXX Bank stated that they did not receive any amendments. 

When I brought his matter to PNC attention, through this Dispute line, it became clear to me that there was no process to investigate or counter this claim. PNC simply said " we are waiting for confirmation from XXXX Bank ''. When I asked " how long do you wait? what if confirmation does not come? what is the next step? '' " can you not just pick up the phone and call the bank XXXX in XXXX whose name is on the XXXX? '' they could not answer me. When I asked " XXXX Bank says they did not receive the amendment, PNC says they sent it ... so where is the amendment? they could not answer. Nor could they provide sufficient information to me to counter XXXX Bank 's claim. 

Such complete lack of transparency and a lack of direction from PNC undermines its credibility with its consumers and with other banks in the international banking system. 

The issues are as follows : XXXX. I am in need of a process to investigate, dispute or initiate further action on XXXX Bank 's claim that they did not receive the amendments. Simply refiling an amendment that the beneficiary bank state they never received in the first place is futile action. Furthermore, I initiated a recall of this wire on XX/XX/XXXX. However, if XXXX Bank repeatedly states they have not received the previous amendments, then how are they to receive the recall request???? This situation must be addressed. 

XXXX age, unresponsive communication on the American side. Despite my beneficiary providing me with reams of XXXX chains from XXXX Bank documenting the problem, and suggesting a resolution of the problem, PNC simply provided me, in writing, XXXX weeks after my request for more information, a deliberately nebulous and unsettling " we have updated your transfer as requested ''. Why is it done via regular post? Particularly since wires are time sensitive. Is this tiny, tiny response the best you can do to convince me and XXXX Bank that you are trying to resolve the issue? 

XXXX. Complete lack of transparency. PNC did not inform me of any activity on my wire. I initiated all discovery because I had received information from my beneficiary. Why is it that XXXX can provide me reams of XXXX  documentation, with bank XXXX XXXX  and contact information, documenting the problem clearly, and documenting path to resolution, whereas PNC bank provides a letter in writing XXXX weeks after the request, that simply states that I filed an update. This affects my credibility and the credibility of American banks. Furthermore, XXXX Bank initiated a return of my wire on XX/XX/XXXX, but I was not informed of this by PNC Bank. Again, I discovered this through my beneficiary. Why is my bank not working for me??? 

XXXX. The timelines are not protective for consumers. XXXX tells me they are obligated to return an unclaimed wire within XXXX XXXX due to interest charges. PNC tells me that my amendments to the wire XXXX take up to XXXX days to go through. I propose that the amendments need to go through before the wire is returned. You need to align the amendment time to less than XXXX days, or this is a useless amendment. 

I am happy to provide additional, specific information, upon request.

Company response to consumer: Closed with explanation