Consumer complaint received 2024-05-08 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Money was not available when promised — 
Company: COMMERCE BANK
State: MO

Complaint narrative:
On XX/XX/2024 at the Commerce Bank Branch on at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  I authorized a wire transfer from my business to a counterpart in XXXX, for the amount of {$6000.00}. 

On XX/XX/ my counterparts had still not received the wire transfer. I went in person to the bank branch and was told it could take up to 10 days and to wait until that date. 

I returned on XX/XX/2024 after the wire was still not received and opened an internal investigation at the bank. The money was withdrawn from my account on XX/XX/2024 but that was all they could confirm at that time. I was informed the investigation would take an additional 3-5 business days. 

On XX/XX/2024, after no returned phone calls from the bank regarding this issue, I again went in person to the branch where I was told that instead of wiring directly to my counterpart 's bank, they used XXXX XXXX  as an intermediary bank, and that XXXX XXXX  had in turn wired the money to XXXX XXXX XXXX  XXXX, who had not responded to any requests. They sent an email at the end of the day informing me that it could take XXXX days for resolution. 

I again went into the bank branch on XXXX XXXX XXXX XXXX but no additional information was provided. 

On XXXX I was told that XXXX XXXX XXXX intermediary had returned the funds and XXXX XXXX  then used XXXX XXXX  to make the wire. I asked for paperwork to prove this transaction happened, and they failed to provide it. 

On XX/XX/2024 I was told that XXXX XXXX  had wired the money to the bank in XXXX, as I had originally engaged Commerce Bank to do. I asked for confirmation of this and paperwork. They said they could not provide any paperwork. I asked my counterpart in XXXX to check with their bank. They did so and the bank said nothing had been received. 

On XX/XX/2024 I requested additional documentation to help my counterpart in XXXX receive the allegedly sent funds. 

On XX/XX/2024 through email I was told again that the wire department would not provide any paperwork to prove that what Commerce Bank said was true, nor to help the bank in XXXX locate the transfer for my counterpart. 

Commerce Bank has caused serious disruptions to my business due to their failure to perform the services engaged in. This is a bank worth XXXX XXXX XXXX XXXX XXXX who is unable to perform the services they charge for, unable to provide customer service or resolution, and have made no serious attempts to remedy the problems they are causing. It has cost me significant time and money to find resolution and Commerce Bank has been a horrible partner during this process. 

At the time of this writing, I do not have my {$6000.00}. My counterpart in XXXX does not have the {$6000.00}. Commerce Bank refuses to provide any paperwork or documentation to support their statements about the exchanges between the banks. Commerce Bank has offered no resolutions and no solutions to the problems created by the services they have marketed and sold to me.

Company response to consumer: Closed with explanation