Consumer complaint received 2018-05-31
Company: BB&T CORPORATION
State: SC
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Other transaction problem

Complaint:
To whom it may concern.

I was sending two international wires to purchase a company from my business account through my bank, BB & T ; the first wire went through successfully with no issues ( XX/XX/XXXX ) ; however, the second wire was never delivered ( all information for the recipient, and the same amount was exactly the same ) XX/XX/XXXX. I have requested for the wire to be recalled because recipient can not wait for this situation to be resolved and submitted a new wire on XX/XX/XXXX of {$10000.00} ; however, this wire was delivered past the due date for my agreement in buying the business by XX/XX/XXXX and I incurred a {$5000.00} penalty that I had to pay to the seller from another account and another bank because I can not trust BB & T anymore. I have requested the {$10000.00} be returned to my Business checking account. 

Research that have done by BB & T indicates on XX/XX/XXXX, an international wire for {$10000.00} was sent to XXXX XXXX XXXX and no issues were reported. On XX/XX/XXXX, another international wire for {$10000.00} was sent to XXXX XXXX XXXX ; however, XXXX  XXXX XXXX ( intermediary bank because BB & T is not sending international wires directly ) compliance held the wire due to confusion on recipient of the funds ( wires attached ). Once this was resolved, XXXX XXXX XXXX released the wire and it was sent to XXXX. Due to XXXX never releasing the funds to the recipient, I have decided on XX/XX/2018, to recall this wire and send a new one for {$10000.00}. A new wire was sent to XXXX XXXX XXXX in the amount of {$10000.00} and no issues were reported with this wire. 

According to BB & T, their International Wire department has sent numerous requests to XXXX  XXXX XXXX, who then forwarded the requests to XXXX, requesting the funds back. XXXX has not responded to our requests. Again, based on BB & T responses. All people involved are in screenshots from attachment. 
BB & T stated that until XXXX returns the {$10000.00} back to XXXX  XXXX XXXX to then return to BB & T, they are unable to credit my account. 

The problem is that BB & T never provided a resolution of the problem - what will be the next step? Who is going to do such step? What SOP for this situation? How is it going to be escalated? 

I have wrote a letter to XXXX and received a response and even call from them next business day ( deceiving statement from BB & T that XXXX had been unreachable ). I am stressing this out I did that personally, not like a financial institution who is holding and supposedly protecting my money. The results of this investigation in attachment. 

BB & T did not do enough to recover this money, did not understood an urgency of the situation and acted just like washing their hands after research is done ; we do not know where is your money, we do not know when you going to get them. You are on your own, in other words. 

Totally unacceptable, unethical and unprofessional approach. 

Please, note that I have started with a Branch Manager, XXXX XXXX, to help me resolve this issue, then with SVP XXXX XXXX. I have been following proper chain of commands to resolve this for 8 weeks! 

Official letter had been drafted by XXXX and will be send to me by mail with every step had been taken to recover this money. I still do not have these money on my bank account but hoping to get them soon. 

I have been going through financial and personal distress to recover these money and BB & T refused to take responsibility and resolve this. 

Not sure if XXXX  XXXX XXXX did enough to follow through but certainly not BB & T as supposedly my financial institution and protector of my money. 

Respectfully, XXXX XXXX XXXX

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 explanation