Quote:
Originally Posted by StrivetoFit
really appreciate your response. please try your best to get the $ in my bank account as soon as possible (within this coming week). if that is not possible for some reason, please ask global poker if they can send me a check or fast wire to me. I've been waiting impatiently for over a month so think they might understand. thank you
NACHA must return the funds within five days of them being sent. That is the law, period, as far as any incorrect account information used. You are covered under Reg E but only if you file a complaint within 60 days. If you don't, the loss is yours to keep.
Electronic transfers don't go to some vapor-zone. They get sent to a clearing House and then forwarded to the final account for credit. NACHA, the ACH clearing house, has laws they must follow. The account is affirmed and money delivered simultaneously. Of it doesn't match up, the transfer doesn't go through and it sits with NACHA. Federal law says they must return it in five days. They usually hold it overnight to collect Fed funds interest on it. There is no chance they are sitting on it for weeks.
You either gave them wrong information until just recent or the lack of understanding, professionalism, and follow up at Global is crazy. They don't even request the money to be returned. It's all computerized. It is what happens when a wire 'bounces'. The next day you get a credit in your account. For an ACH, the credit hits a day or two later. They'd even be given grief as to why they held it for five days when audited.
What probably has happened if the money was returned and they cannot pinpoint it specifically. It may have come back in a batch. Seems like you're waiting for them to straighten it out. They call your inconvenience 'teething issues'. Meanwhile, as they learn wtf a they are doing, they collect a lot of interest on your monies held in their account. They should compensate people for their inability to complete these simple processes. They rushed this **** out to save some money. Should have understood WTF they were doing first.