Can wire(or ACH) transfers bounce back and go back to sender's account?

[bakaneul]

Originally Posted by CarrJ

I get both ACH and Wire Transfers from my IT Computer clients all the time. ACH payments do take a 1 day done Monday-Thursday. Friday ACH with no holiday on Monday would arrive on Monday....with holiday on Monday then will arrive on Tuesday. Pretty simple. Now the person sending the ACH and state when to process it and perhaps was waiting for watch to return and inspect it before processing. Now Bank Wires typically happen within the hour if domestic and a few hours if international. The guy should have processed a wire so that is just bad customer service. ACH payments are cheaper than a wire is probably why he did it.

I would not have any problem for a next day or two day delay refund. But in this case, he ACHed me when we agreed for a wire refund. I gave him my account number and my "wire" routing number not the routing number that is on the bottom of my check. From this, I could tell he does not know ACH vs Wire. He is telling me I am his only client with BoA with such issues from this.

Anyway, Wednesday will be the last day I will be waiting for this to be sorted out by the seller. As of now though, he still thinks it is my bank, the Bank of America is not releasing the fund which is not true.

[bakaneul]

Update

The seller just emailed me this morning he received the funds back in his account and he will deposit a check today for me at his local BoA.

I told him to take a photo of the check and deposit slip before making deposit just to be sure all the numbers are correct.

[azs.77]

That’s great news. Keep us updated.


Sent from my iPhone using Tapatalk

[CarrJ]

Originally Posted by bakaneul

Update

The seller just emailed me this morning he received the funds back in his account and he will deposit a check today for me at his local BoA.

I told him to take a photo of the check and deposit slip before making deposit just to be sure all the numbers are correct.

That is indeed good news but why a check? I would have made him actually wire the funds even if you had to cover the fee. Now.. its a waiting game for his check and then his check has to clear which I am sure it will. With the delay in your refund he should have wired.... just my 2 cents

[bakaneul]

Originally Posted by CarrJ

That is indeed good news but why a check? I would have made him actually wire the funds even if you had to cover the fee. Now.. its a waiting game for his check and then his check has to clear which I am sure it will. With the delay in your refund he should have wired.... just my 2 cents

I didn't feel comfortable the seller "wiring" me for the second time. I have been telling this seller that he ACHed me not wire but he still chooses not to answer about it. I wish he realizes differences between the two from now on.

[bakaneul]

Originally Posted by azs.77

That’s great news. Keep us updated.


Sent from my iPhone using Tapatalk

The seller made a deposit to my Savings account and it is pending until tomorrow. I am pretty sure at this point it will clear.

[77T]

Originally Posted by bakaneul

The seller made a deposit to my Savings account and it is pending until tomorrow. I am pretty sure at this point it will clear.

That is good progress.


Sent from my iPhone using Tapatalk Pro

[CarrJ]

Originally Posted by bakaneul

The seller made a deposit to my Savings account and it is pending until tomorrow. I am pretty sure at this point it will clear.

Thanks for keeping us updated and sharing your experience. Glad it seems to be coming to an end.

[bakaneul]

Originally Posted by CarrJ

Thanks for keeping us updated and sharing your experience. Glad it seems to be coming to an end.

Thanks to all of you. The pending fund has cleared this morning.

Things I learned from this:

1. To someone wire is not always wire, ACH can be wire too.
2. Double check with sender that he/she has your correct account/routing number.
3. To each and everyone's meaning of "mint" is different. In this case, to me, the watch was in great condition.

[CarrJ]

Awesome. Good luck in finding your watch