Consumer complaint received 2017-02-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
Product: Money transfers
Sub-product: Domestic (US) money transfer
Issue: Other transaction issues

Complaint:
On XX/XX/XXXX, I initiated an online electronic fund transfer of {$10000.00} from my account at Bank of America account to my new son-in-law 's account at XXXX as a wedding gift for the new couple. I entered my son-in-law 's name, home address, email address and account number. But without realizing it, I typed a " XXXX '' instead of a " XXXX '' for the XXXX of the XXXX digits of the account. Unfortunately, I did the same thing when asked to confirm the account number. 
On XXXX, my daughter told me they had not yet received the money in their account. I called Bank of America and spoke to XXXX an account supervisor. It was then that I found out about my typographical error and that the money had been deposited into the wrong person 's account. XXXX told me that BofA could ask XXXX to return the money. She requested BofA 's Online Banking department to begin an investigation asking that that it be escalated and expedited. The same day, my son-in-law called XXXX to tell them about the problem. I received a letter form the Electronic Claims Services department dated XX/XX/XXXX that said that since they did nothing wrong, my account would not be reimbursed and that as a courtesy, they were researching the inquiry with the other party and would contact me if additional information was needed adding that the process coud take up to 45 days to complete. 

On XX/XX/XXXX, I received a 2nd letter which said that their investigation had determined that no error had occourred finding that the transfer was initiated in accordance with my instructions. ( I had always stated that I made the typographical error but that I wanted their help in reversing the transfer. ) I was directed to contact the other party directly for further assistance. I wanted more information from Bank of America so I called the phone number that was listed on the letter. But the person who answered said that it was not the right number for this inquiry and that he often gets these calls by mistake. He gave me a different number to call during business hours. My son-in-law then received a call from XXXX as a follow-up to his first call to them and was told that XXXX would contact the erroneouosly credited account 's owner to return the money if Bank of America would send them a request!!! Needless to say, I called Bank of America and spoke with XXXX at the number I had been given but he could only take my information and forward it on. I asked to speak with someone working on inquiries but was told this was not possible. XXXX told me that the records showed that XXXX XXXX had tried to contact XXXX (? ) but did n't get a response from them. There was no indication that this was pursued further. He said he would resubmit my complaint for reconsideration. 

I received a 3rd letter from Bank of America dated XX/XX/XXXX in which I was told that since BofA initiated the transfer in accordance with my instructions, there was no error. I was told to contact the other party directly for assistance. The letter added that XXXX did get back to them and that the funds were not available for return. Based on these reasons, they were unable to credit my account and that the dispute has been closed.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief