S O S! Davy Jones & The Phantom Wire Transfer?

Question

I recently completed a yacht delivery across the Atlantic.

It was agreed that payment for the passage would be made by wire transfer.

The details given to the sending bank to initiate this transfer included my name, address & account number and the receiving banks' name, address & routing number.

There was an error in the account number used by the accountant of the sending bank - it was one digit short of the full number.

Now the sending bank is saying the funds were sent to the receiving bank, and have left the sender's account, and that the incorrect account number would not matter because the receiving bank accepted the transfer. Again, they are saying the funds have left the account of the sender, and have not been returned.

The receiving bank has stated emphatically it has received no such wire, and especially BECAUSE of the incomplete account number, the attempted fund transfer will have been immediately rejected and SENT BACK TO THE SENDING BANK.

Effectively, my payment lies in limbo somewhere, with both bank's now shrugging their shoulder's and pointing their fingers, through myself in the middle as message relayer, at each other.

This leaves me in the unwanted position of not being paid for my time and energy delivering the yacht.

The people I am dealing with on the sending bank's side ( captain and boyfriend ) are leaving the vessel in 2 days, refuse to put me in direct contact with the accountant responsible for initiating the transaction, and are telling me ( and I quote ) - " there's nothing more we can do for you ".

How shall I go about chasing this up? The receiving bank are aware of this situation, and keep telling me the same thing - "we did not receive this wire." The receiving bank has suggested I ask the sending bank to put a trace on the wire. I passed along this suggestion, and have had no reply, and time is running out.

What options do I have? Are there authorities I can contact to investigate this further? Is it possible in this day and age for funds to leave a bank and disappear into space without a trace? Is one digit missing from an account number reason enough to make this sorry affair develop into what I have christened The Phantom Wire Transfer? Shall I begin to entertain the possibility that I will never be paid for this salty misadventure?

What's a sailor to do?

Answer 1

A sailor is to sue. They are lying to you.

I know from experience that if you send money to an incorrect or closed account, the bank will return the money to the sender, usually within a week. They will not accept the transfer. Period. The sender admits that he sent the money to the wrong account. He won't win in court.