WACHOVIA Bank I sent wire with the wrong information. The name and address on wire was correct but the acct # was wrong. Wire ended up in Wachovia Bank. Wachovia will not return funds even though its obviously an Internet

   Wire transfers are very difficult to reverse in most cases.  That is the reason that many payees insist on wire transfers for payment of large sums.  Once the money is in the target account, there are few reasons that a bank can reverse it (unlike credit or debit transactions).  For this reason, wire senders are always encouraged to double check the information before submitting a transfer.

   Wire transfers are governed by the Uniform Commercial Code, section 4A.  There is a section (4A-207) that deals directly with the misdescription of the beneficiary.   Unfortunately for you, that section allows a bank to complete the transfer solely by the account number unless it has positive knowledge that the name and account number refer to different persons.  Here's the exact language :

"if the beneficiary's bank does not know that the name and number refer to different persons, it may rely on the number as the proper identification of the beneficiary of the order. The beneficiary's bank need not determine whether the name and number refer to the same person."

   Basically, that means that you can't go after the receiving bank (Wachovia) for not verifying that the name did not match the account.   Under the rules, it appears that the only recourse you have is to go after the person who mistakenly received your money.   I imagine that this would probably involve a lawyer in order to get Wachovia to hand over the identity of the account holder.

   If you want to read it for yourself, Google "UCC 4A-207". 

The UCC MIGHT help you IF your state or the state inwhich the beficiary reside has adopted this particular portion of the UCC.  NOTE:  The UCC IS NOT LAW.  The States have adopted PORTIONS of the UCC and you should check with your State banking commission or similar government agencies to have the monies recovered.

Good luck.

You MIGHT be able to compell the originator and benificiary banks to recover your funds under provision of UCC 4a-207 C:

(c) If (i) a payment order described in subsection (b) is accepted, (ii) the

originator's payment order described the beneficiary inconsistently by name and

number, and (iii) the beneficiary's bank pays the person identified by number as

(1) If the originator is a bank, the originator is obliged to pay its order.

(2) If the originator is not a bank and proves that the person identified by number was

its order unless the originator's bank proves that the originator, before acceptance of the

originator's order, had notice that payment of a payment order issued by the originator

might be made by the beneficiary's bank on the basis of an identifying or bank account

number even if it identifies a person different from the named beneficiary. Proof of

(d) In a case governed by subsection (b)(1), if the beneficiary's bank rightfully pays

from the originator, the amount paid may be recovered from that person to the

(1) If the originator is obliged to pay its payment order as stated in subsection (c), the

(2) If the originator is not a bank and is not obliged to pay its payment order, the

originator's bank has the right to recover.

Hi Robert,

   I'm familiar with that subsection, but I don't think it applies.  In the OP's case, the originator is the OP's bank, where the transfer originated.  The subsection you quoted refers to originators such as the U.S. Treasury, which is not technically a bank.