Wire/ACH Recall and Bank Escalation
You sent a wire or ACH transfer to a scammer. The clock is ticking, but there are steps you can take to attempt a recall.
1. Call Your Bank's Fraud Department Immediately
This is a race against time. Call your bank's fraud hotline (not the general customer service number) immediately. State that you have sent a fraudulent wire/ACH and ask them to initiate a recall or reversal. Provide the transaction details: amount, date, recipient name, and account number.
2. Know the Terminology
For a wire, ask for a 'recall.' For an ACH, ask for a 'reversal.' Be clear that the transaction was fraudulent. Under Regulation E, banks have specific obligations for unauthorized electronic transfers.
3. Contact the Recipient's Bank
If your bank provides details about the recipient's bank, call their fraud department as well. Inform them that they have received a fraudulent transfer into one of their accounts. This can help freeze the funds before the scammer withdraws them.
4. Escalate and Document
Keep a detailed log of every call: who you spoke to, when, and what they said. Get a case or reference number. If your bank is unhelpful, ask to escalate to a manager. File a complaint with the CFPB and the FBI's IC3, and include your case numbers.