Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #5826561
Complaint Overview
Complaint ID: 5826561
Company: BMO Bank National Association
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other transaction problem
State: California
ZIP Code: 95125
Date Received: 2022-07-30T12:00:00-05:00
Date Sent to Company: 2022-07-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
XX/XX/2022 To Whom It May Concern : RE : Dispute with BMO Harris Bank XXXX name is XXXX XXXX XXXX, on XX/XX/XXXX, I transferred $ XXXX from my account at XXXX XXXX XXXX to my beneficiary, XXXX XXXX XXXX XXXX, XXXX ( XXXX XXXX ) at BMO Harris Bank, XXXX XXXX XXXX XXXX, XXXX, IN XXXX. They have held my funds for nearly a month. I have asked my credit union to have BMO Harris Bank to return the funds to my account. This is serious because the money was for family support. The purpose of the funds was to help a family member whose health and business was affected by Covid. It should be noted that on the original wire transfer the name of the beneficiary was misspelled and that should have triggered an immediate return of my funds. Bank protocol should have returned my money to me the same day since the beneficiarys name was incorrect. Instead, BMO Harris Bank has held my funds for nearly a month with no one contacting me for a reason. My credit union reached out to BMO Harris Bank numerous times and after many attempts they responded with reference # XXXX that the funds were credited to the beneficiarys account. When I contacted the beneficiary, he told me that the funds are in his account but the bank has put his account on hold so he cant transfer my funds. Nobody at the BMO Harris Bank has explained why his account is on hold. This puts my {$70000.00} in jeopardy. I need help! You should note that I have filed complaints with the FDIC, Consumer Financial Protection and Department of Financial Protection. This is a serious situation where BMO Harris is using my funds for a full month for an internal problem they are having with the beneficiary and is unfair to me. This needs to be resolved immediately. XXXX XXXX XXXX has been notified of this situation to intervene immediately to prevent an intense investigation by the FDIC. I can be reached at XXXX or XXXX. My address is : XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX # XXXX, XXXX XXXX, CA XXXX XXXX XXXX, XXXX. XXXX, XXXX # XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX
Frequently Asked Questions
What is Complaint #5826561 about?
Complaint #5826561 was filed against BMO Bank National Association regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2022-07-30T12:00:00-05:00.
How did BMO Bank National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against BMO Bank National Association?
Yes, visit the BMO Bank National Association company profile at readthecomplaint.com/company/bmo-bank-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.