Consumer complaint received 2025-11-04 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Money was not available when promised — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: PA

Complaint narrative:
On Friday XX/XX/year> I closed on a refinance of a property that I own and the proceeds of {$64000.00} were wired to me by the title company. The title company also made other wire transfers- to the loan officer and to pay off the existing loan- that were received the same day, however the funds to my account were never received. The wire transfer was initiated in the afternoon and, according to Bank of America, should be received same day if initiated before XXXX. I was planning to use the proceeds of this refinance to pay off credit card debt, among other things, which needed to be done by XX/XX/year>. Since I didn't receive the funds on Friday, in order to avoid some of the interest, I decided to pay off a personal credit card using the cash in my account, trusting that I would receive the {$64000.00} within a day. I made XXXX payments to my credit card in the amounts of {$23000.00} and {$61.00} to bring my account to zero so as to avoid interest on at least one account ( confirmation attached ), using the last funds in my accounts. Unfortunately, Bank of America lost the wire transfer for the proceeds of my refinance. I used my last remaining funds in my account to pay one of my credit card bills, expecting to have the {$64000.00} shortly, but since it was not received, now I can't pay my obligations. The whole purpose of this refinance was to use the proceeds to pay off a good portion of my personal and business credit card debt, but is instead going to cause me to ruin my credit and not be able to pay my workers. 

I called Bank of America several times and they kept insisting they did not have a record of this wire transfer. I continued calling and messaging them through the online portal regarding this and they gave me conflicting information over the past few days. Several told me there was no evidence of a wire transfer, another person told me they saw it but that there was " information missing '' ( even though we checked all of the wiring instructions and they were correct ) but they couldn't tell me what, then they told me they saw the wire but that it was in some sort of compliance department and they didn't know when it could be released and there wasn't any information missing. When I called again this morning, the agent said they saw these issues and would transfer me to the wire department, which just gave me an automated message that they " can't talk to me right now '' and then it hung up on me! I tried again through the online portal and they are now saying they have no record of a wire transfer. I have been asking since Friday for a manager to call me, however nobody has called me back. 

In the interim, I can not make my credit card payments, I can not pay my mortgages, and I can not pay my workers and I am defaulting on my obligations and incurring thousands of dollars of additional interest. And Bank of America simply does not care nor can I speak to anybody who can actually resolve the issue! I tried tracing the wire through the sender ( the title company uses XXXXXXXX XXXX ) and they said the wire was not returned to them and is at Bank of America. I have been unable to resolve this any other way and am receiving conflicting information from Bank of America. I am concerned because this is going to affect my credit since I can not pay my obligations, which will severely affect my business since I rely on loans to buy, rehab, and sell real estate. The whole purpose of this was to pay off my personal debt and increase my credit score- and it took me so long to get hr- and is instead going to destroy it. 

I am attaching the wire transfer confirmation, the executed settlement statement from the refinance showing the funds I was supposed to receive, and proof that I paid off a personal credit card on XX/XX/year> expecting to have these funds in my account. Please help me!

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