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Battling Two Banks

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I placed an order to transfer money from my Chase bank account to my Wells Fargo bank account, the transfer order was placed with my Wells account.  After the transfer was started but before it was completed Wells Fargo closed my account.  Now the two banks are playing pass the buck on who should track the money down and give it back to me.  I remember reading here some people suggesting an agency or something to file complaints about banks but I don't remember what it was called or how to go about filing a complaint.  Any help would be greatly appreciated.

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did you try to get them on three way call

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You initiated an ACH, with Wells, to take money out of your Chase account, Wells sent the ACH request to Chase then Wells closed your account while the transaction was in progress?

That sounds like Wells' problem to me.

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taxmantoo said:   You initiated an ACH, with Wells, to take money out of your Chase account, Wells sent the ACH request to Chase then closed your account while the transaction was in progress?

That sounds like Wells' problem to me.


Wells closed the receiving account.
Chase account I think is still open

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You'd be surprised at how fast these banks will resolve your issue when you submit your inquiry to the state's AG.

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OCC?

https://en.wikipedia.org/wiki/Office_of_the_Comptroller_of_the_C...

So, do tell, why did they close the account?

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You down with OCC?
CFPB!

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Initiate the complaint with whichever bank's system you used to make the transfer.

An OCC complaint will just be forwarded to the CFPB, so might as well just submit it with them directly.

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Glitch99 said:   Initiate the complaint with whichever bank's system you used to make the transfer.

An OCC complaint will just be forwarded to the CFPB, so might as well just submit it with them directly.

  
Why not both?  

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ZenNUTS said:   OCC?

https://en.wikipedia.org/wiki/Office_of_the_Comptroller_of_the_Currency

So, do tell, why did they close the account?

  I can't remember the exact wording and their system is down, which has been happening a lot lately, but it was something along the lines of, I had a zero balance at the time of the monthly service charge.  I didn't check the dates but I think they're wrong. 

Thanks everyone for the responses and the information.  I plan on hitting both banks with every agency I can to make them work a little.  Both banks say it's the other banks problem so I'm going to try to make it both of their problems.

PS.  Before anyone asks, I still have access to my account for 90 days.  That's why I was trying to check the message they sent me.

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Would not this been smoother if initiated from Chase not WF? From origin of funds to destination I'd think.

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I started with Wells Fargo because that's where the request to transfer the money was placed and because they're the geniuses that closed the account. They told me to contact Chase, which I did. Chase told me to contact Wells Fargo. There's been a couple other exchanges back and forth, basically they're just screwing me around. It's time they answer to someone else.

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Sorry I'm talking 20/20 hindsight.

For the future from origin of funds to destination I'd think would be easier.

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I don't think some of you are understanding. Neither bank is willing to do anything, they just want to pass it off to the other bank. Hence the reason I'm filing complaints against both banks.

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cannondalemt said:   I don't think some of you are understanding. Neither bank is willing to do anything, they just want to pass it off to the other bank. Hence the reason I'm filing complaints against both banks.
  Understanding what you've written thusfar, the complaint should be against Wells Fargo - you used their system to pull the money from Chase, the money is still in that system, Chase simply honored the request.  If you go after Chase, about the only angle that'll get anywhere would be disputing the transaction as an unauthorized withdrawal from your account.  But Wells Fargo has all the ability to trace the funds.

I wouldnt do both complaints at once, because at minimum you want to be able to present bank#2 with the results of the complaint against bank#1.

How long ago did this happen?  It can take over a week for a rejected ACH deposit to work it's way back to the source account.  Or Wells may have accepted the deposit and is in the process of sending you a refund check for the balance of the closed account. 

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You are right, it can take up to a week for the transfer to clear. The money was pulled out on April 11 and I waited a week before I started asking what happened. I also agree that Wells Fargo is the bank that should straighten this out but from the beginning they told me to contact Chase. Thank you for the advice on going after one bank at a time, what you said makes sense. If Wells Fargo is in the process of sending a check they aren't letting me in on the secret.

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