Consumer complaint received 2021-03-30
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Funds not received from closed account
Company: ALLY FINANCIAL INC. (NV)

XX/XX/XXXX I set up an online Certificate of Deposit account with Ally Bank in the amount of {$10000.00} as a start for my XXXX year old daughters college savings. On XX/XX/XXXX the funds were to be electronically transferred from my XXXX XXXX account. 
That evening ( XX/XX/XXXX ), my fianc came home and told me were going to go a different route, for her college savings and told me to close the CD I had just opened. I called Ally Bank that day @ XXXX XXXX and spoke with someone to close this account. As we were closing the account, I asked if I needed to do anything on my end. I asked if I needed to cancel the pending {$10000.00} withdrawal from XXXX XXXX, but she assured me that I didn't need to do anything ; that when the money attempted to be deposited in the closed account it would automatically get rejected and return directly to the originating account. I asked again, just to make sure because it felt off, but she reassured me that it happens all the time and the money would indeed return right back to my account. So I acquiesced. 

I watched to money leave my account on the XXXX as scheduled and then waited to see it return back to my account. I checked daily, and tried to remain patient. By XX/XX/XXXX, I called Ally to check the status. They told me that they never received the money and to contact XXXX XXXX. I contacted XXXX XXXX, they said they never received it back and for me to start a claim. To do so, I was required to file for a stop payment ( which I felt was silly since the money had already been gone for a week at this point ) so I did. XXXX XXXX called to clarified a few things and then by XX/XX/XXXX I received a notice in the mail that they had denied my claim. They claim that they sent the money as directed and had never received it back. I called Ally on XX/XX/XXXX to let them know that I had been denied and to push the issue that they needed to find the money on their end. I spent close to half an hour on the phone and they said they were going to escalate it and I would have more information in a few days. I waited almost a week before calling them back on XX/XX/XXXX. I spent a total of an hour on the phone with Ally that day trying to find some resolution, and another hour on the phone XX/XX/XXXX doing the same, the following day for another 32 minutes ( at this point I believe there was a case number, XXXX ). It was a relentless run around with finger pointing and being on hold while they spoke with " the back office. '' I was again told that things were being escalated and to be patient while they did some digging on their end. I called back XXXX to check the status and was on the phone for another hour [ This is over 5 hours on the phone with them at this point ]. I believe this is when they said that they had figured out the problem and that they were going to have to contact XXXX to get it cleared up. They said I wouldn't need to call back and that it should be resolved in 10 business days. I called a few days later I believe just to check and they again said that I didn't need to call back, that they were working on it. I called again yesterday XX/XX/XXXX and spoke with someone for 35 minutes. They backtracked and told me to contact XXXX XXXX again to try and figure it out, so I explained that the last Ally rep I spoke with said they had traced it and that it was a XXXX issue, not XXXX XXXX. Then they said the same things they have continuously told me and to just wait, that its been " escalated to the back office '' and that I wouldn't be hearing anything for 30-60 days. I am tired of playing the middle man. I just want my funds back so I can use them as intended. Ally needs to own their massive error and return my funds.