I need some advice on what steps I should take here. I'll try to be brief:
Situation
- On 11/5 I submitted a $35,000 Wire Transfer from my own checking account at USAA to my own investment account at Merrill Lynch which is part of Bank of America. The funds left USAA on 11/5, but never arrived in my investment account
- I have made numerous calls to both USAA and Merrill Lynch. My own name was on the wire transfer as the beneficiary, but USAA didn't put my personal investment account number in the wire transfer info - just the generic routing number to Bank of America (They didn't ask for this, and I've never done a wire before so I thought they had all the information they needed). Merrill Lynch says that the routing number that was on the wire is a "holding account" at Bank of America, yet they have no way to actually locate it. USAA says the funds are gone from my account and they don't know where it went.
- USAA has initiated a 'wire trace' but they said it may take up to 5 business days.
Questions
- Is there anything else I can do besides wait for the wire trace to finish? It's already been 3 days and I find it really hard to believe that my money just disappeared. I was thinking of sending a claim or email of some sort to USAA, but I don't really know if it's appropriate or what information I should include.
- Is there any chance my money will just be gone? Or that somehow I will be held at fault for not giving USAA more information and ensuring it goes to the right account? I'm trying to be level-headed and not lose sleep over this, but neither bank gave me any assurance that this will be resolved or that they will get my money back.
TIA for any assistance.
Submitted November 08, 2018 at 10:02AM by ThrowAway_WTML https://ift.tt/2FkIxjY
