Wire transfer to wrong bank account

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I messed up a wire transfer, instead of transferring from the ADP account (pay roll) to my bank of america account.I entered the wrong account number, it was off by 2 digits in the middle, (33 instead of 22). ADP forces you to enter the account to which you want to transfer everytime and has no name to account validation. I contacted ADP (they charge $1.50 for every call after the first call) they said the transfer is complete and cannot be cancelled. I contacted BOA they said the transaction has to be disputed from the point where it started. So i go ahead and dispute the transaction with ADP via their website and also send them a completed dispute form by FAX. They have not acknowledged recieving the fax or the email. Is there anything else that i can do at this point?

Thanks in advance to everybody for their time.

FAQ's
Why do i transfer?
ADP does not give any interest and only 2 ATM transactions per cycle are free.

Why do i use ADP?
My company insists. I am trying get them to issue me a cheque from now on.

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somebody got a nice bonus in their BOA account with 33 in the middle of acct number.

Seriously, just initiate a dispute procedure the proper way - it'd take some work and time, but you'd get your money back eventually.
And it may require you to call them some more times - at nominal charge, most likely - since you'd want to be on the top of the situation.

Yep, that BofA account number with the 33 in the middle was mine... sorry to tell you, I already closed out the account and bought a timeshare. Thanks!

You should be able to dispute. After all, if I noticed $10,000,000 all of sudden appearing in my bank account from a wire transfer I didn't expect, and I took it all out and spent it all, I'm sure the bank would come looking for me with the FBI, once they discovered the error.

No doubt, but the $10 million is gone because you spent it, so it's not there to get back. You don't have it, your bank doesn't have it, the OP's bank doesn't have it, what can be done, and who should suffer the loss?

I don't understand why they don't do name to account # verification. But I don't understand why there isn't any crossing of checks in the U.S. either. I don't see any drawbacks to either of those, and it would seem to me that they would help to prevent theft and errors.

okwiater said: Yep, that BofA account number with the 33 in the middle was mine... sorry to tell you, I already closed out the account and bought a timeshare. Thanks!Nice, now you're both out the money.

Stop calling.
Stop emailing

Start sending snail mail - Certified Mail, Return Receipt Requested.

akacool15 said: I messed up a wire transfer, instead of transferring from the ADP account (pay roll) to my bank of america account.I entered the wrong account number, it was off by 2 digits in the middle, (33 instead of 22). ADP forces you to enter the account to which you want to transfer everytime and has no name to account validation. I contacted ADP (they charge $1.50 for every call after the first call) they said the transfer is complete and cannot be cancelled. I contacted BOA they said the transaction has to be disputed from the point where it started. So i go ahead and dispute the transaction with ADP via their website and also send them a completed dispute form by FAX. They have not acknowledged recieving the fax or the email. Is there anything else that i can do at this point?

Thanks in advance to everybody for their time.

FAQ's
Why do i transfer?
ADP does not give any interest and only 2 ATM transactions per cycle are free.

Why do i use ADP?
My company insists. I am trying get them to issue me a cheque from now on.


To prevent such errors in the future, it might help to use Roboform to do the transaction. Assuming you're doing it from a PC.

If the amount in dispute is large enough, it might make sense to send a copy of the dispute by certified mail.

Thanks will do that today

mikeres said: Stop calling.
Stop emailing

Start sending snail mail - Certified Mail, Return Receipt Requested.



Oh darling that's so unfortunate. I wish you (we all wish you) the best of luck in resolving this.

Tytie

mikeres said: Stop calling.
Stop emailing

Start sending snail mail - Certified Mail, Return Receipt Requested.


Return receipt is not required and only slows down delivery.

Return Receipt is usually needed to proved that Specific Person received the letter. Since this is a company and they have a published address for such service, there is no need to prove who physically opened the letter, only that the company received it at the correct address for such service.

okwiater said: Yep, that BofA account number with the 33 in the middle was mine... sorry to tell you, I already closed out the account and bought a timeshare. Thanks!
This is nothing to joke about. Take the smarmy remark somewhere else and show some compassion NB.

TYTBUDGET

Years ago I had a $400 deposit into my checking account from whereabouts unknown. I just left it alone, and a week later they just reversed the transaction without so much as a courtesy call.

Is your account number more than 8 digits? If so, I doubt anyone owns the account which you mistyped. It will likely come back as undeliverable.

gatzdon said: mikeres said: Stop calling.
Stop emailing

Start sending snail mail - Certified Mail, Return Receipt Requested.


Return receipt is not required and only slows down delivery.

Return Receipt is usually needed to proved that Specific Person received the letter. Since this is a company and they have a published address for such service, there is no need to prove who physically opened the letter, only that the company received it at the correct address for such service.
You're probably right about not needing RRR.

The only reason I suggested it is because the company has so far ignored or been non-reactive to his emails and faxes (possibly because his communications were not delivered to the correct department).
I was just thinking that if this got ugly, the OP would be better off having a postal receipt to prove delivery of his letter.

It probably will come back as undelivable in about a week to 10 days.

Banks have a place to hold un-matchable funds - but it takes time for them to resolve each misplaced transaction. I dont know if you have visited the BofA branch where your account sits, and talked to the branch manager to ask for his/her assistance.

We had some misplaced fund happened before, between Chase and BofA. Chase took the money - a check of $10K from our BofA account, but did not deposit it to our Chase account - instead, it just left our BofA account and disappeared! Our BofA local branch manager was very helpful to retrieve the image of the check from the internal system, verified the money was withdrawn by Chase, provided us copies of the image so we can fax it to the Chase office in another town another state... The manager of the deposit dept at Chase found the money in 2 days, and there were temporary credit to our account, and correction of the credit, and bunch of internal entries, to put the $10,000 back. The whole process took a week but the mistake was acknowledged by Chase on Day 3, thanks to the info supplied by the BofA branch manager.

Search your online account, statements, and any paperwork you ever received for this company. Find the address specifically used for disputes.

Write a very short letter that they sent a wire transfer to the wrong account. I'm willing to bet it was an ACH transfer and these are reversable to correct mistakes.

Don't forget to complain to your employer too. This company operates the same way as Paypal and is trying to skirt the banking laws.

Explain to your employer that this company is blowing you off after they misplaced your money. And on top of it, are trying to charge you a $1.50 per call when you try to get it fixed (which should have been done in a single call).

Tell your HR department, they picked a bad company to handle payroll. Ask them specifically, who is there to protect your money if this company makes a mistake and loses your money, if they go bankrupt, if someone hacks into their system and drains the employees accounts? As far as I can tell, you are afforded the same protection as Paypal customers and we all know what happened to them.

The good news first the money arrived in my account today finally. It took more than 10 days of faxes, emails and calls. Bank of America actually had the other account as valid and open (they did not tell me if the money was indeed posted in to the account). Out of the whole issue i found BoA customer service to be more helpful and courteous though they were not able to do much.
ADP is a large pay roll proccessor, but i think their banking service is relatively new. I am not sure whether we can call it a banking service as all they provide is a Visa card on to which the funds are loaded and charges fees for everything and anything with absymal customer support.
And yes i am working with my employer to ensure that i do not go through this again.
Thanks to everybody who took time and replied.
Hope this thread helps others in future.



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