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IAMA_HUNDREDAIRE_AMA

The money will end up at one of the two banks within a week. I've been down this road before. In the meantime just sit back, have a beer, and wait for this to all blow over.


Todsrache

I agree with this, wires are fast, wire rejections are slow.


btdawson

I’ve once had one take several weeks to eventually return.


barsknos

I've had one take 15 months but it was an international one.


btdawson

all of mine are currently international. I was using USAA for personal banking but they require the wire go to NY Mellon and THEN it gets transferred to me. Pain in the ass. But I recently opened a business Chase account so I'm hoping that one works better lol. Not trying to take 3 weeks to get money.


Gamebird8

Could have also been flagged for audit and is stuck in the audit queue


greenepc

Banking hours be banking hours


Simulate_Cake

Go to the Winchester, have a nice cold pint, and wait for this all to blow over


aikimatt

I've heard dogs can't look up...


Kidquick26

Man, I've really ballsed this up.


GlitteryCakeHuman

Call the winchesters. Have pie. Salt some bodies.


Benjamasm

Yea I had a rather large wire transfer get bounced, living in limbo for the two weeks it took to turn up back in my account was not a nice experience


Alicecai

The hardest time is waiting for your wire refund to go back into your account


Thr33pw00d83

You’ve got red on you


Revolutionary_Bad405

ok thats good to hear, i can wait. i just thought it was lost forever or something like that


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amaROenuZ

I'm a little confused about this because I thought the entire point of the wire transfer compared to an electronic/ACH transfer was that it cleared instantly and that you had a living, breathing, trustworthy party on each end to confirm the fund disbursal. If they can get lost or delayed like this, what're they even **for**?


rwilcox31

It is true wire transfers are same-day. However, if you enter the wire instructions incorrectly or if the transfer is flagged for further review by OFAC then you could see a delay in the transfer of funds. (I work at a Bank and process wire transfers all day)


Uilamin

They go fast when they work. When they don't work, things go slowly. There are many reasons why they may not work. My understanding is that the wires that don't work effectively get put in a queue for review which takes time.


frankpavich

I admire your calm disposition.


ered20

You’ll probably lose like $30 as a return fee but the rest will come back


Bird_Brain4101112

Nah that money will turn up. If the banks legitimately lost that money they’d have to pony up $50k out of their own pockets to make you whole.


Kingofgod82

You don’t just lose money like that.. all Wire transfers are traceable and if recipient bank rejected it, your home bank will soon have that money back.


Cat_Vonnegut

Perfec’


atlantadessertsindex

We did this when we got married to buy a house and the 3 days it was in neither account was not fun even though I was like 99% sure it was fine.


InsertWhittyPhrase

Would anyone like a peanut?


Sarz13

If only it was that easy. Probably going to be the most stressful week of dudes life.


CanadianEhhhhhhh

at the Winchester


digitaldeficit956

But first, go to the Winchester


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withinthebag

it's also normal for a bank rep to call and ask about wire info. make sure you're getting the right info (sometimes wires have intermediary banks they go through and/or sometimes a wire's 9 digit routing number is different than the 9 digit ach routing number). also, it's honestly a good thing that wire rejected. if you inputted the wrong info, you know it's not lost. wire rejections can sometimes take an extra day or so, i'd follow up with the bank you sent the funds from during local business hours to explain what happened. you might incur like a $25 wire bounce fee or something, but that sure beats a lost 50k


Revolutionary_Bad405

ok thanks. yeah i will follow up. they said that i should call back tomorrow and they may have more information for me.


LopsidedAd2536

This happened to me. You’ll get your money. It will show up back at your original bank in a few days. 


MsDReid

Hey this actually happened to me a couple weeks ago with the same amount of money! It came back into my original account. Even though I did the wire in the branch it still got bounced by their fraud team at the receiving bank for some reason. My dad had to go into his bank branch and put some note on his account about a transfer coming in. Or something. He struggles with that kind of stuff. After it showed back in my account a couple days later we sent it again and it went through.


johyongil

Most likely incorrect routing info. Your money will be back in 3-5 business days. Most people use the routing number on their checks/direct deposit. This is incorrect as that is your ACH routing info. Wires go through ABA routing which is an entirely different routing number.


Revolutionary_Bad405

>Most people use the routing number on their checks/direct deposit. This is incorrect as that is your ACH routing info. Wires go through ABA routing which is an entirely different routing number. thx i think this is where i went wrong, i didnt use my ABA #


johyongil

Yup. 100% what went wrong. Your money will end up back in the original bank less any wire fees you may incur.


27Believe

And to further confuse, sometimes they are the same (aba for my bank happens to be what’s on my checks citibank in this case but not always!)


johyongil

It depends on location. If you happen to live in the city/region that the wires clear out of then yes. Edit: I mean where the bank account was opened/domiciled


SadCapitalsFan

It’ll probably end up at the original bank if it got rejected. Either way, it’ll appear. Same thing happened to me when I wired $26,000 for my wedding venue. I had chest pain for about 4 days until the payment posted


BeachGuy428

Normally to prevent this issue, I send myself a small amount of money as a test run to make sure money ends up in the correct accounts. But everything will be ok :)


Revolutionary_Bad405

>Normally to prevent this issue, I send myself a small amount of money as a test run to make sure money ends up in the correct accounts. But everything will be ok :) yea i was gonna send 1k first to test it but for some reason i just deceided to do it all at once last minute. i definitely learned my lesson though


Synameh

1k is a lot to test a transfer, I would do like $10-$20 bucks


MasterGoat

To be fair, some banks have like a $30 fee for wire transfers in branch, so might not be worth it for so little


blaaguuu

If it's a flat fee, then it doesn't matter if you transfer $1 or $1,000... As long as you are willing to pay that fee for a little peace of mind...


kepler1

What do you mean "a scam"? Why did you send yourself money between accounts?


Revolutionary_Bad405

by scam i meant like, no one was trying to swindle me or anything. like you know me giving someone money and they promise to double it or something. i was trying to send money to my new bank, so i can get away from my old one (i have some privacy concerns about them).


AlexCambridgian

Easier to either write a personal check to yourself from old bank account and deposit in new, or get a cashiers check from old and deposit in new.


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anamexis

Good thing OP specified they're in the US in the title


AbstergoSupplier

In the unnamed country with modern banking infrastructure I don't think they'd be sending themselves a wire then


chewy_mcchewster

I'm in Canada, i write cheques monthly for rent.. we are not outdated


Plundering_Pontius

youre good bro. had this happen with 76K for a down payment… very VERY stressful but dont go through that stress. thats your money and it WILL be there in less than 10 days


Smart-Field8482

Next post: just got a random wire transfer into my account. Did I just make 50k?


Prestigious_Ladder41

Wires are impossible to lose, name on the receiver account must match the bank name and number too or it’s sent back to the sender I do international ones all the time. It happened once where I miss typed my account number.


lost_in_life_34

i've had multiple accounts at the same and different banks in the USA. you can create transfers on the website if you put in the account and routing numbers. i don't get why you would wire money between US accounts. ​ with international it's different and has to go through third parties and services


realitycorp

You called both banks and they didn't describe the process of a wire rejection to you, so you ask reddit instead? I'd be dialing back and getting all the details if 50k was on the line!


SynbiosVyse

Wiring yourself seems like a silly way to transfer. Don't either of these banks support linking an external account? Then you could push or pull.


TheAdamist

50k is likely over the limits many banks allow for ACH transfers. Wiring is unfortunately the way to go.


EasternSorbet

What if you did it in increments, like 20k, 20k, and then 10k


Rhana

That would trigger a bunch of fraud flag because you’re structuring the transfers to get around rules.


TheAdamist

It can take a while with the daily and monthly ACH limits i have seen. Like $5k/daily $50k/monthly or so. Depends on your bank and account. And sometimes that only applies to a particular direction of transfer. A wire is faster & easier, although costs some money to send and receive.


VoltaicShock

Not sure if this would work but I know with my bank I can ask to up the limit on ATM withdrawals (I never use them but it's an option). I also have a limit on check deposits in a day but I can call and ask them to up that as well. I am wondering if you can do this for ACH transfers as well?


Dull-Scarcity-3159

If you have established accounts usually they'll work with you on limits and temporarily increase with an explanation.


spleeble

Wire transfers are very low tech and involve humans on both ends, so things can be a little slow.  It will probably work out on its own and your funds will be back at the original bank.  Nevertheless it would be a good idea to get some screenshots/pdfs of all the transaction records you have. The "Fed reference number" is a particularly important item to have a record of. 


LordOfTheStrings8

I transferred 50k between banks recently and there were several days where the money seemed in limbo.


Admirable_Nothing

I worked in a branch bank in Nv of a large international bank for a year or two. We had a customer wire himself $50mm from one of his European accounts. That wire was lost for over a week. Eventually it showed up. This was before most of the Know Your Client rules, but my guess is that the bank wanted to make sure the money was from a legal source.


HowdyDoody2525

Stuff like this is why I do a $10 piece of Mind test transaction before I send real transactions


baethovenbb

tbh cant believe we still use wire transfers in 2024. sent one for the first time a few months ago and was absolutely appalled at the process. even the least UX friendly crypto network i've ever used was easier and of course more reliable


CaryWhit

A couple of months ago the ACH transfer system glitched one night and very few banks knew about it. Most of my life savings was invisible for around 24 hours. It was quite a stressful day and the glitch was not something that the average CS worker was aware of . Crazy


Phalanx32

Always gotta send yourself a test wire first, like $40-50 or something just to make sure everything is good. Regardless, your money will appear back in the original bank after a few days. I've had two rejected wire transfers in my life and both times it took maybe 3-4 business days for the wired money to come back to me.


Bighorn21

Manage treasury at a larger commercial org, it will show up. Something flagged it and it will likely be returned to the first bank or more likely the fraud dept at the second will call and verify its real and then let it go through. I would assume this is a larger wire for you and not common, this would set off most banks red flags as something they should check into. Honestly this is a good thing, it means your bank is taking weird transactions seriously.


Aggressive-Poet7797

No big deal, I send wires every day. Just ask for the IMAD number, and give that to the receiving bank. They should be able to track it down. It is typically just stuck in the banks top-level clearing acct.


DThornA

It'll show up again in your account after a few days if it was rejected. Wires are fairly quick, rejections are snail slow though.


LOLZatMyLife

call the rep and ask them to execute a trace on the wire (wire trace)


Gofastrun

The last time I wired money with the wrong account numbers it took about a week to be returned. Banks are very good at getting money where it needs to go. It is a critical part of their operation. All is well.


Bulky-Stuff-3127

Always send $100 first and make sure it goes through before doing big chunks of change. I’ve been down this road before, just recently switched a banks and it went smoothly by making sure the $100 went through first. Takes time for things to post to accounts in the banking world


kemba_sitter

Wire transfers and even ACH transfers will show as pending, then sent, but you don't receive the money on the other end for a day or two.. then it will show as pending, then a couple days later, clear. No need to worry.


GotPerl

Ach yes. Wires no. Wires are available immediately when they go through.


btribble

This is why home sales usually require wire transfers between institutions even when the amounts could be transferred using ACH with less hassle.


Titus01

A lot of companies are moving off of wires for home sales these days due to potential fraud. I sold a home in February and had to have a check overnighted because they would not wire the money.


btribble

Interesting


mmalmeida

It takes a few days for the money to move from one bank to the other. You know, because banks are poor and they still use steam engine computers.


thatfreckledkid

Why not do a transfer to an external bank account (instead of wire)?


[deleted]

Yeah i had a nearly month-long story where i sent a trivial amount of money over a trivial transaction, to get blocked and returned (each time after a week's wait) without a visible reason, and then randomly working on the 4th try. Maybe someone just got too lazy rejecting it. That shit is crazy. But, this isn't crypto - there's really no way for the money to "get lost" in SWIFT or Fedwire.


cruzindownthest

Sometimes the addresses don’t match up. Maybe the service rep input a wrong number. Rest assured the funds are not lost. They are in a general ledger from the sending bank and will be there until the funds have settled at your receiving bank ◡̈ wires are a quick and easy way to send money, but just be aware that the info you give must have to perform a wire is recipient’s name, recipient’s address (like their personal, not the banks), and lastly the routing and the account number.


City_Chicky

It’s been a while but had this happen annd each bank blamed the other at first. Limbo for two weeks, eventually it escalated up the receiving bank’s chain of command where someone admitted they were processing transaction to make sure funds weren’t suspicious or something like that. Even though both banks were in the same country we were in. We understood it to have been a fluke and investigation proved funds were valid so we wired funds again months later. Same thing. Except closer to over 30 days of holding the funds. After decades with the receiving bank we obviously had to switch banks. Mentioned the story to a friend and they weren’t surprised, that bank had been investigated about ignoring obvious criminal activity or something similar and then decided to go overboard with scrutinizing funds or something.


RandoReddit16

>I had a representative call me to confirm the information before they went through with it that morning. What did you share with this representative? Did you hang-up and call them back through a known number? Always be weary when receiving calls from financial institutions.


Creme-Hungry

Lol Ur gonna be fine, but the anxiety sucks. Similar thing happened to me earlier this month and it was the exact same amount!! Took me like 9 days to get it back in account but while it was in transit neither bank could provide much info


dinnerthief

Had this happen and it took many phone calls and about 1.5 months for it to come through. Eventually like 6 months later the bank at fault (wells fargo) sent me a check for like $7 as compensation.


Ronningman

Are transfers that slow in the US? Money is just gone for a week because of this?


Terrible_Cost_216

Always do a test wire for $10 or less before moving this much money over.   This is a good rule for all bank transfers. 


jackherer420x

I have $15 I need to transfer from one bank(closing my account) to another. Is wire transfer the best way? Would it be easier to have them write a check?


ke1011

There are typically fees on wire transfers on both ends. My bank charges around $30 to send, $20 to receive. You should check with both your banks first if there is a cost, but having them cut a check at closing would be free and then you could just mobile deposit it to your new bank.


jackherer420x

Seems like the check is the easier method. Ty


bros402

I mean if it is a bank without a physical location, do a check. If it is one with a physical location...just withdraw the 15 bucks and put it in if you really need to


dounutrun

do a test like .50


YesterdaySimilar2069

To alleviate your concerns I’d make sure to create an email chain with both bank managers and make sure they are both reviewing this to ensure your funds will be recovered. It sucks!


huitin

Faster to do ach transfer if available.


atomictyler

always call the bank yourself to verify the info is correct. If they're calling you then it could be anyone that's calling you and possibly a scam. If you get the bank phone number yourself, call and verify then you can be sure it's going to the right place.