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Originally Posted by EightLarge
More weirdness from Global. Just rec’d an email regarding my previous post from a redemption request back on 3/11. It states I was paid out on 3/19 and to check my bank account (obv not true). This was after receiving an email on 4/1 stating there was an issue on their side with the payment processor and they would follow up with me. My redemption history on the global side even says “processing“ instead of “paid”.
That is probably an error on the transmittal. Once an ACH is sent, you will see it in 3 days or less. If they sent it amd you have not received it, there is likely an input error. A wire transfer can be done with as little as ABA and Acct#. The ACH has a lot more info. If your account is titled William Smith but it was sent Bill Smith and all the other info was correct, it will probably bounce.
When they are not affirmed, they go to the error account and then returned within days. The likelihood is your money was sent, your bank dk'd the info and was sent back to WorldPay. You need to get the transmittal number amd take it to your branch. Have the manager call the wire room and give them the tracking info. They can tell you the error code and where it is at.
Sadly, you're going to get the jerk job for a bit. Global will tell you to check with your bank, they have e to do it. Your bank will say Global has to do it. Laziness is everywhere.
The good news is, the money is not lost. ACH is easily tracked and will get corrected. You will probably experience a fair level of aggravation in the process.
Feel free to PM me if you have questions. I ran a hedge fund and we did dozens of wires/Ach/eft a day. I can walk you through the tracking process.