Webster Bank Complaint: Incorrect/missing disclosures or info

#1430343 19 Jun 2015

Money transfers International money transfer

Complaint #1430343 submitted on 06/19/2015 relating to Webster Bank. Complaint relates to Money transfers International money transfer - Incorrect/missing disclosures or info .

Complaint was submitted via Web and sent to the company on Friday 19th June 2015.

Narrative (may be redacted).

On XXXX XXXX, 2015 I initiated an international wire transfer for {$30000.00} from Webster Bank at XXXX XXXX XXXX XXXX, XXXX, CT. The money for this transfer was coming directly from my personal checking account at this bank. On XX/XX/2015, I got word from the intended recipient of the wire transfer that the XXXX number had not been included in the information on the wire transfer and without it the funds would not be available to said recipient. I returned to the branch where a wire investigation form was filled out and faxed to the wire transfer department to send to the recipient 's bank. On XXXX I find out, quite accidentally, that my checking account has been frozen by Webster Bank without my knowledge. I am told that this was done because they suspected fraud. My account was unfrozen, but on XX/XX/2015, when the money had still not reached its destination, I returned to the branch to find out that the fax to the wire department had never gone through on XXXX because their fax machine was out of order, and still not repaired on XX/XX/XXXX! The critical XXXX number was relayed via email, and although I requested an email with a confirmation number that the Iban number had been by the end of business on XX/XX/XXXX, it was n't until XX/XX/2015 I finally received that email. By this time, the XXXX project had been shut down for more than 10 days, and I had no idea when this money might reach its destination. By XX/XX/XXXX we finally get information from the recipient bank that they need information sent from my bank and I need to get a message sent. I call the Webster Bank Help Center. They speak directly to the wire transfer department and I go back to the branch and initiate another wire investigation form to send the necessary message. I asked for an email with a confirmation number ; on XX/XX/XXXX, a full 2 weeks since initiating this, when I still had not heard anything by early afternoon, I called and was told that XXXX was not in today. When I returned to the branch once again, I found out that XXXX had received an email early that morning from the wire transfer department stating the recipient bank needed XXXX additional piece of information from me before releasing the funds. XXXX had asked her manager and another coworker to please contact me because she has to attend to an urgent family medical emergency. Obviously they had not, and again a critical deadline loomed. The task was finally accomplished. I am still waiting for the email confirmation. The money was received on Monday, XX/XX/2015, but the government shut down the work site again and a fine of {$130000.00} has been assessed for delays caused by Webster Bank and also the possible loss of the XXXX. trade license which is necessary to do business in that country if this fine is not paid immediately. Money for this fine is not readily available ; business assets are tied up in the current project. I feel entitled to some sort of satisfactory recourse from Webster Bank for their role in the delay that caused this fine to be assessed.

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