Consumer complaint received 2024-06-13 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: PENTAGON FEDERAL CREDIT UNION
State: FL

Complaint narrative:
This complaint is against Pentagon Federal Credit Union ( hereafter PenFed ).

Summary of complaint : I requested a wire transfer be made from my checking account to a moving company, XXXX XXXX XXXX XXXX, whose bank is XXXX XXXX. PenFed informed that the funds had to be held for five business days before the transfer could be completed. I then canceled the transfer the next day, PenFed acknowledged cancelling the request, and then sent the money anyway. I have requested the money be returned to my account numerous times and PenFed has failed to do so. The moving company has acknowledged the funds should be returned. 

Detailed complaint : On XX/XX/XXXX, I transferred {$2300.00} from an external account to my PenFed checking account ( XXXX XXXX Pymnts on the bank statement ) in order to pay a moving company, XXXX XXXX XXXX XXXX. On XX/XX/XXXX, I called PenFeds customer service to request the wire transfer in the amount of {$2300.00} to XXXX XXXX XXXX XXXX via their bank, XXXX XXXX ( see enclosed email for XXXXXXXX XXXX XXXX XXXX wire information ; see also my outgoing call on XX/XX/XXXX at XXXX ). Then, I received a call back from PenFeds customer service ( see the incoming call on XX/XX/XXXX at XXXX ) informing me that, as I had moved the funds for the transfer into my account on XX/XX/XXXX, the wire would need to be held five business days, until XX/XX/XXXX, in order to verify the external funds. I asked if I would be able to cancel the transfer before XX/XX/XXXX, if necessary, and the agent responded in the affirmative. Then, on XX/XX/XXXX, I learned that my moving company would be arriving on the morning of XX/XX/XXXX, and because the wire transfer needed to be completed prior to drop off, I called PenFeds customer service to cancel the wire transfer ( see the outgoing call on XX/XX/XXXX at XXXX ). XXXX customer service informed me that the wire transfer had been canceled and that *no funds would leave my account*. I asked the agent to confirm this and she said that yes, no wire would go through unless I called back and re-requested a transfer. Satisfied with this response, I went to the Post Office and ordered enough postal money orders to pay the moving company the entire balance for the move ( {$5300.00} ) the next day. However, on XX/XX/XXXX, I checked my account to see that the wire transfer had gone through and I immediately called PenFed ( see outgoing call on XX/XX/XXXX, at XXXX ). The customer service agent at first said that she would request a wire reversal, but, if XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX did not approve the reversal that there was nothing we [ PenFed ] can do. At this point I became extremely frustrated and the agent looked at her companys internal notes system and confirmed that the error lay with PenFed. After not hearing anything from PenFed, I called again on XX/XX/XXXX ( see outgoing call at XXXX ) and had a long discussion with their customer service agent. At this point I asked the customer service agent to pull the recordings of my prior conversations for review. She said that she would pass me on to a supervisor, and at XXXX on XX/XX/XXXX ( see call log ) I received a call from one of PenFeds customer care supervisors. He said he would escalate the complaint, and look into temporarily crediting my account while they work to reverse the wire. On XX/XX/XXXX, seeing no credit, I called again, and PenFeds customer service has continued to acknowledge that *they are at fault* and that I did nothing wrong, but they still will not credit me the funds. To make matters worse : 1. They have also not credited the wire transfer fee of {$25.00} back, which is quite absurd, and XXXX. The moving company, XXXX XXXX XXXX XXXX, has acknowledged that I made full payment and that I am due back {$2300.00}, and they are not fighting the wire reversal at XXXX fact I have spoken with their main customer service agent multiple times and she has been very helpful and understanding. Imagine a small moving company having better customer service than a national credit union! 

Desired resolution : Immediate reinstatement of the {$2300.00}, a reinstatement of the {$25.00} wire transfer fee, and an apology from whoever oversees banking products at PenFed.

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