- Edwina Greene mistakenly transferred $1,000 to an old Bank of America account.
- Despite quick action, Greene struggled for months to recover the lost funds.
- Under the Electronic Fund Transfer Act, banks aren't required to refund user errors.
MIDVALE — Paying bills online is easy — maybe too easy. When money moves at nearly the speed of light, mistakes can get expensive.
Such is the experience of Edwina Greene.
"I sent by mistake, $1,000, transferred to the Bank of America, which was where I had an old credit card," she told the KSL Investigators.
Greene said she accidentally sent that money to her former bank using Zions Bank's bill pay system when trying to pay a different bill. She caught the error fast. But trying to get it fixed has proven to take more time — much more time.
"For the first seven or eight months, I was really persistent until I got a letter finally saying the account didn't have all the money in it anymore," Greene said. "And that case was closed."
She recognizes it was her mistake, but should that mean her money is just gone?
"I just think a big corporation should have a better answer for me than no answer," she said.
Greene decided it was time to call Matt Gephardt.
The KSL Investigators reached out to Bank of America repeatedly. In emails, a spokesperson said they reviewed Greene's case and later helped connect her with someone internally.
But the spokesperson also told us what had been told to Greene: The money was no longer fully available in the account. As to where the money landed, the bank didn't say.
Bank responsibility
So, what does the law say? Well, under the Electronic Fund Transfer Act, banks are required to do certain things, including to "promptly" investigate. In cases where fraud is determined to have happened, they're also required to refund money.
But when it's not fraud – when it's a bill pay mistake made by the user – that's considered an "authorized payment." And while banks have some methods to claw back mistaken payments, it's not an automatic guarantee you'll get reimbursed.
As for Edwina Greene, she's angry that the mistaken transfer could not be reversed. After all the time she spent trying to get it fixed, she's also out $1,000.
And that is the dark side of digital convenience. Electronic payments are terrific until they're not. But when you make a mistake, often there is no magic "undo" button.
