Consumer complaint received 2025-05-02 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Other transaction problem — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MD

Complaint narrative:
I am a real estate investor currently in the process of purchasing property in XXXX. On XX/XX/year>, I initiated an international wire transfer in the amount of XXXX XXXX XXXX XXXX XXXXXXXX ) from my joint checking account at Bank of America to the developers account at XXXX XXXX XXXX XXXX. This transfer was made as instructed by the developer to cover the initial down payment. ( Please see the attached document labeled XXXX XXXX XXXX. ) As of today, XX/XX/XXXX, XXXX than XXXX months laterthe funds have still not been received by the beneficiary bank. 

Since the transaction, I have made numerous attempts to resolve the matter. I initially worked with XXXX XXXX ( Banking Associate ), then XXXX XXXX ( Senior Banking Associate ), followed by the Branch XXXX XXXX XXXX at the XXXX, MD location ( XXXX XXXX XXXX XXXX ). Subsequently, acting branch managers XXXX XXXX and XXXX XXXX also became involved. 

Despite these efforts, I have repeatedly encountered dead ends. Ive called the wire department multiple times under XXXX XXXX XXXX XXXXXXXX, and was consistently told that the funds were held by an intermediary bankand this bank remains unresponsive. 

On XX/XX/XXXX, XXXX XXXX XXXX contacted me ( see attachment " XXXX XXXX '' ), stating the case had been escalated to the XXXX management team. On XX/XX/XXXX, XXXX XXXX XXXX XXXX, Vice President and Consumer Banking Market Leader, reached out to me. 

Following her investigation, XXXX XXXX informed me that Bank of America does not use any intermediary bank and that the funds were released to the beneficiary bank on XX/XX/year>. She requested an XXXX XXXX from the wire department on XX/XX/XXXX and assured me she would provide full transaction detailsincluding confirmation of the receiving bank, transaction completion date, and any tracking/reference numbersby XX/XX/XXXX ( See attachment " XXXX XXXX '' ). 

However, I did not receive any follow-up. I reached out again on XX/XX/XXXX and XX/XX/XXXX. During the last call, XXXX XXXX assured me she would provide the XXXX XXXX before leaving for vacation on XX/XX/XXXX. Since then, she has not responded to my calls nor to my numerous emails, which I find extremely unprofessional, particularly for someone in her position. 

This unresolved issue has caused significant financial and emotional stress for both me and my wife. In order to prevent the cancellation of our property contract, we were forced to borrow money via credit card to make the payment a second time. 

When I initiated this wire transfer, I expected Bank of America to ensure the funds reached the intended recipient. Instead, the bank has demonstrated a lack of accountability, failed to provide the requested XXXX XXXX, and has consistently passed the responsibility without resolution. Despite my repeated and patient efforts, neither the local branch nor regional representatives have taken ownership of this issue. 

It is unacceptable for a financial institution of such stature to fail in its duty of care, to avoid accountability, and to leave a customer in limbo for such a long periodespecially when the bank has visibility and responsibility over the wire transaction.

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