Consumer complaint received 2025-05-27 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: FIRST COMMONWEALTH FINANCIAL CORPORATION
State: PA

Complaint narrative:
Summary of Events : Wire Transfer Complaint First Commonwealth Bank XX/XX/year> ( XXXX  ) At XXXX PM, you initiated a {$16000.00} ACH transfer from your First Commonwealth Bank checking account to your XXXX investment account. 
After realizing the XXXX would take up to XXXX  days, you decided to visit the bank in person to initiate a wire transfer instead. 
XX/XX/year> ( XXXX  ) Around XXXX AM, you visited the First Commonwealth Bank branch in XXXX XXXX. 
You made a {$4600.00} cash deposit and inquired about wiring {$20000.00} instead of proceeding with the XXXX. 
You were informed by a staff member ( XXXX ) that a {$32.00} stop payment could be placed on the XXXX. 
You initially declined but then changed your mind after being reassured that the wire would process that afternoon and the stop payment would cancel the XXXX. 
You authorized the {$20000.00} wire to XXXX through a staff member ( XXXX XXXX ), who used a signature pad to capture your authorization. 
You were told the funds would be available the same day. However, no activity occurred on your account that day for either the wire or the XXXX. 
XX/XX/year> ( XXXX  ) You returned to the bank at XXXX AM after seeing no transaction activity. XXXX told you there had been an issue but assured the wire would process that afternoon. 
At XXXX PM, you called the bank ; XXXX mentioned a meeting was taking place and he would call back. You received no follow-up. 
At XXXX PM, you returned to the bank. XXXX said there were insufficient funds due to both transactions being attempted. 
At XXXX PM, you called the wire transfer department and spoke with XXXX. She said no wire had been received on XXXX  and that insufficient funds prevented processing. 
XXXX added XXXX to the call. XXXX said the stop payment would process overnight and the funds would be available the next day. 
At XXXX PM, you called XXXX again. She confirmed no wire was received XXXX  and that shed contact the branch XXXX. 
At XXXX PM, branch XXXX XXXX XXXX called. He admitted to issues with the electronic signature pad, which prevented the wire from being received by the wire department. He mentioned the pad had previous issues on XX/XX/XXXX or XX/XX/XXXX, and acknowledged potential accountability issues, though he claimed he needed to investigate further. 
XX/XX/year> ( XXXX  ) By early morning, the {$16000.00} ACH transfer had been withdrawn from your account, leaving a balance of approximately {$21000.00}. 
At XXXX AM, XXXX XXXX called to confirm the {$20000.00} wire had finally been processed. 
At XXXX AM, you received confirmation from XXXX that the transfer was completed. 
At XXXX PM, you met with XXXX at the bank. He confirmed the signature pad had failed to transmit the request, causing the delay. 
He stated he was unsure how the issue was fixed but admitted there had been known issues with the device in prior days. 
He acknowledged partial responsibility but also suggested you attempted a wire with insufficient funds, which you refuted by noting the account balance at the time of the request. 
XXXX reviewed the wire records and confirmed he approved it on XXXX. He offered contact information for the banks legal counsel and market leader for filing a formal complaint. 
Consequences and Claim The delayed wire transfer prevented you from investing in XXXX XXXX XXXX, which XXXX over 30 % on XX/XX/year>, representing a missed opportunity of approximately {$7000.00} in gains. 
You assert this loss resulted from the bank 's failure to process the transaction promptly and failure to disclose known issues with their signature pad equipment. 
You referenced the banks stated liability in their terms, asserting they failed to complete a transaction on time despite having knowledge and control over the equipment failure. 
XX/XX/year> XXXX from consumer customer service calls me and informs me that the issue was not with the keypad. It was actually an issue from whoever processed my wire transfer. I have requested a written statement from the bank, but have not gotten anything. It is over a month later, and I still have not received anything.

Company response to consumer: Closed with explanation