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Complaint Details
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Initial Complaint
02/20/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
They took our money and then closed our account. I attempted to use their service to transfer money to the Philippines. They took our money, nearly one thousand dollars, sent us confirmation that it was on its way to our recipients in the Philippines, and then closed our account without sending it, tying up our money and hurting the vulnerable recipients who needed it. Now tell us they will likely have our money a week before we get it back. Here’s what happened: On February 16, 2024, we opened an account and made two transfers one for $544.20 and the other for $398.69. We were assured were SENT and would be in recipient’s hands within a few hours. The funds – total $942.89 -- were debited from our bank account on February 16, and are as of yet STILL unavailable. The next morning wake up to message from very troubled recipient that no funds had arrived. No information over the weekend. Monday, three days later, we receive an email stating only "your amount remains closed." First we heard about the account being closed. I call Xe. They tell me it could likely three MORE days before they return our money. They made zero effort to help resolve the problem, except saying “we’re sorry for the inconvenience.” I asked to be referred to a supervisor or complaint department or anything, only to be refused, but they’re “sorry for the inconvenience.” Horrible, destructive, uncaring company.
Business response
02/27/2024
Please see the attached response letter.Customer response
02/28/2024
Business response
03/15/2024
Please see the attached response letter.Initial Complaint
10/20/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Re: Xe Money Transfer (ID: *******) Setup an international wire transfer in the amount of $10,000. for the first time on Oct 13th Got an email that my account was closed automatically and they will not provide reason. But promised to send my $10000 funds back to original account. As of Oct 18th the money has not shown up in my account. Meanwhile I get emails asking for recipient information, asking me to login and correct the information. My account is closed, I can't login (it is stupid and such an email should not have been sent). Called support and they have no clue either, finally spoke to Lewis (supervisor) and he agreed that the email should have never gone out. Confirmed that my funds were sent Monday (Oct 15th) and they should be in my account Oct 20th. Get an email at 9PM PST that they need proof that shows that I sent $10k, my bank account number and account name. Called support at 11PM PST and they have no clue what is happening with my account. Had to repeat the whole story, they were courteous but say they can't do much, they will escalate to internal department. To me this appears like a fraudulent scheme, holding my $10k and delaying it as long as they can. Why pays for the exchange rate change since Oct 13th? Who pay interest for my money sitting there? It appears that xe.com business practices are fraudulent in nature, We have two days to fund accounts to hold an exchange rate, but they can take however long to return money with no process and consequences. I need my $10k returned along with exchange rate difference and interest. They have all the documentation. Please stop such fraudulent financial business practices. This should go in all social media so that other customers do not get duped the same way and have a penalty for such behavior.Business response
10/27/2023
Please see the attached response letter.Customer response
10/27/2023
Being a financial institution, I feel this response is just a generic response as usual.
It took me a few hours to transfer money, but it took me more than a week to get back my money.
Yes, it is a scam to keep money for this long when you have closed the account.
Multiple phone calls, etc. to get the money back.
Irrespective of the reasons that account was closed (which itself is a scam). Holding money is a bigger scam, who is responsible for the exchange rate promised, the interest of the one week that money was help up. What if this was an urgent need and money is stuck. The company took no responsibility and the reason why I call it a scam. There is no good reason to hold money for a week, period.
Initial Complaint
10/17/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
I write this email with utmost distress and urgency. A recent transaction through Xe the platform has jeopardized the well-being of a family member in Mexico, who is a critical cancer patient entirely dependent on medications, which I am now unable to provide for in a timely manner. While the funds were debited from my account in mere minutes, I am astounded and deeply dismayed to learn that the credit process on your end would take days. What exacerbates this situation is the complete lack of transparency and communication from your side, leaving me in the dark regarding the reasons for the account closure I just received an email saying sorry we had to close your account. No other explanation given I’m attaching that email to this as well. This entire ordeal has not only compromised the health and safety of my loved one but has also led to insurmountable stress and anxiety on my part, to the point that I am on the verge of needing medical intervention myself. This company’s oversight in this matter is not only unprofessional but also deeply concerning, considering the life-and-death stakes involved for my family. I demand an immediate and comprehensive response on why this happened, and most importantly, a swift resolution to ensure the timely transfer of funds. This experience has been traumatic and by far the worst I've ever had with any financial institution. I hope you understand the gravity of the situation and act promptly. Awaiting your immediate attention.Business response
10/27/2023
Please see the attached response letter.Customer response
10/27/2023
Xe i am writing to express my concerns regarding a recent transaction I initiated through your service. It has come to my attention that the funds have not yet been received, and I am quite disconcerted by this development.
In hindsight, I would have greatly appreciated if your system had not permitted me to process a transaction that could not be completed in a timely manner. The assurance of receiving funds is crucial, and this delay has caused significant inconvenience.
I kindly request your immediate attention to this matter. Could you please provide an update on the status of my transaction and any necessary steps to expedite the process? It is imperative that the funds are transferred as soon as possible.
Thank you for your understanding and prompt response.Business response
11/15/2023
Please see the attached response letter.Customer response
11/15/2023
I am writing in reference to the complaint filed under the reference number ******** . I appreciate the time and effort the BBB has invested in addressing this matter. However, after careful review of the response provided, I must respectfully reject it on the grounds that the proposed resolution has not been fulfilled, specifically regarding the disbursement of funds.
As of the date of this letter, I have not received any funds as was stipulated in the resolution plan. This unmet obligation is crucial to the resolution of the complaint and, as such, leaves the issue unresolved from my perspective. I kindly request a re-evaluation of the response, taking into account the non-receipt of the funds that are integral to the satisfactory resolution of this matter.
For your convenience and review, I have attached relevant documentation and communication records that substantiate the non-receipt of funds. I trust that this additional information will aid in your further investigation and facilitate a resolution that aligns with the commitments made.
I understand and respect the role of the BBB in fostering fair and effective solutions. Thus, I am hopeful that with your continued assistance, a fair and equitable resolution can be achieved promptly. I am willing to provide any further information or clarification that may be needed in this regard.
Thank you for your attention to this matter. I look forward to a prompt and positive response.
Sincerely,
******Initial Complaint
10/03/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
On approximately Sep 29, 2023, I created an account (see supporting email) with this company to send a birthday gift to a friend overseas under transaction ********** Their stated business is to provide currency transfers. I successfully validated my checking account and the recipients' checking account information, I submitted the desired transaction amount and received an email receipt that it was in process. My iphone app for the transaction shows it was successfully completed. (see supporting image), but then this morning I received an email from a blind mailbox at the company stating that my account had been terminated (see supporting email) and my transaction was cancelled. Upon further investigation with their customer service department, I was told that they could not provide any information regarding the transaction or the reason for cancellation, nor was there any supervisor or manager who could speak to me about my transaction. I would like the company to complete the transaction as requested and deliver the birthday gift or if I made some kind of error in completing the transaction/documentation, to explain the error so that I may correct it. I offered to provide proof of my identity as it states this is sometimes required to review a transaction but was told that they would not accept a review of the transaction.Business response
10/10/2023
Please see the attached response letter.Customer response
10/10/2023
The subject referenced transaction did not satisfy the "Risk Appetite" of XE? I did not request a refund, I requested my money transfer be completed as requested.
What business is it of theirs whom I choose to send a gift to in regard to risk? Is there a specific law or regulation being violated by completing this transaction as requested? This company should not be in the business they solicit if they choose to randomly close accounts without explanation and without supervisory oversight or customer response. If there is a law or regulation being violated, please provide the appropriate cite, as I can find none at the state or federal level of TN/US law. Using their specified logic, my account might be closed because I gifted money to a homeless person living on a street corner, or used their services to pay a restaurant tab because they are "Risk Adverse" to my ordering a hamburger to eat. They are a money exchange/wire transfer service, and they are being compensated to send money from point A to point B including any currency conversion fees.
Business response
10/17/2023
Please see the attached response letter.Initial Complaint
05/03/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
17 Days have passed and they have still not transferred or refunded my money. I have spoken with multiple associates sent all documents requested and been assured that my transfer is forthcoming. Yet they still fail to send my funds totaling **** AUD. Meanwhile I cant pay my rent, or buy groceries. If this continues I will be homeless. Give me my money back Now!Initial Complaint
04/17/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
On the 6th of April i was about to use their transfer services due to advertising that it would take 0-2 days for all transfers. When i realised that this was not true i called then same day and asked them to cancel the transfer. After that they been lying to Me 2-3 times about when i Will get my money back. First it was 4-5 working days, after this time past it was 7 day. But untill todays date 17th April i havnt recieved my money. They blame the reason is my bank which is ****** biggest bank. So xe have provided Me with alot of useless information and asked Me to present this to my bank which i have done but my bank just laughed and asked if this company even knows what they are talking about. They Said that XE should not be allowed to be in this buisness. *** put in several hours of my working and spare time to get my money bank but it seems i **** never get them. 12 days has past and after talking to my bank today they say nothing changed and there is nothing they can do. Its all up to XE to release my money. This was money to buy food for my children im not a rich man now we dont have food on the table and i need to Ask friend to borrow Me money.Initial Complaint
04/07/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
I tried to make two transfers to ***** through XE, one to my mother of $100 and another to my own bank account in ***** of $500. XE Withdrew this money from my US account but then turned around and closed my XE account without having transferred this to my ********** account.Initial Complaint
04/01/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
I used the ** MONEY TRANSFER COMPANY. I registered with them last night to send a money transfer to *****. After my registration was accepted by them through email, I gave them my ***** ********** Debit Card Number to take $858.81 from my ***** Fargo Checking Account and send this money to a bank in *****, *****. This wire transfer of funds was for the purchase of an antique item at an online store there. This store had written me that they would only accept payment through a wire transfer of money to their bank. Fine - this is the reason I registered with **.I executed the money transfer myself using my desktop computer, using **'s website for money transfers. After it was completed, the ** system stated that everything was satisfactory, and that the money had been sent. I called ***** Fargo and they told me **'s withdrawal of funds from my account was listed as: HiFX (MERCHANT DESCRIPTION MONEY TRANSFER) THEN 10 HOURS LATER I RECEIVED THIS EMAIL FROM **: *********************** (Xe)31 Mar 2023, 11:05 pm BST Dear *****************Thank you for using Xe.Unfortunately, we are unable to assist you further contract C13314809 has been canceled, and your account **MT0440202053 has been closed.- AS OF RIGHT NOW, I CAN NO LONGER LOGIN TO MY ** ACCOUNT TO COMMUNICATE WITH THEIR CUSTOMER SUPPORT PEOPLE TO SEE WHAT HAPPENED.- ** HAS TAKEN MY MONEY AND NOT RETURNED IT. NOR SENT ME ANY EMAIL COMMUNICATIONS WHEN (OR IF) I WILL RECEIVE THE MONEY THEY TOOK FROM MY CHECKING ACCOUNT. I JUST CALLED ***** FARGO AND THEY TOLD ME THE MONEY IS GONE, AND THERE HAS BEEN NO EFFORT FROM ** TO RETURN MY FUNDS. NO CONTACT.They take $858.81 from my bank account - then shut me out of their company so I cannot find out what went wrong... and they stopped me from contacting their ************************ to see WHEN or IF I will get my money back. THIS IS FRAUD. THIS IS THEFT. I am furious.Initial Complaint
03/21/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
Xe offered to transfer money for my son from ** to *****.On 3/15/2023 My son completed all security requirements including providing social security number. passport photo / ID and selfie.Xe confirmed that all security requirements are met and asked him to transfer the funds. He transferred funds at **** pm. Soon after that ** confirmed that they cannot transfer the funds and they are closing his account. Next day, Xe withdrew $15,000 from the account (Xe reference: C13219749) . We called Xe and they said per their community policy they cannot disclose the reason. When asked why they took the funds after closing the account, they had no answer. When asked about returning the funds, they told it may take ***** days. When I checked the Xe website, there are so many customer reviews mentioning the same complaint. It is a fraud that they pull money from the customers, do business with it and return the funds after pulling funds from others. They shouldnot be allowed to do business in ***.Client ref no: XEMT0440186202Initial Complaint
02/07/2023
- Complaint Type:
- Billing Issues
- Status:
- Answered
I opened an account on 02/06/2023 after they did all verifications meaning, SS, ID, and a selfie to verify that was me I sent $6,524.10 to a real estate company in ****** and the next day 02/07/2023 they canceled my account after they collected the money. I appealed but they won't give me any information on why. they said that I should have my money back on the next couple days, but now i have to pay extra interest and fees because this company decide no to send my money.Business response
04/04/2023
Dear ****************************:
Continental Exchange Solutions, ***** dba XE *** XE is in receipt of complaint
number19362115. The complaint noted that XE unjustifiably declined to open your account.
Our investigation determined that you attempted to process a transaction on February 06,
2023. Please note, in order to comply with various internal standards, legal, and regulatory
requirements, all account applications are subject to a series of automated and manual
checks. This specific account application was screened and found to be outside the risk
appetite of Xe.Due to the above reasons, XE rejected the transaction and closed your account. XE
processed the return of funds once the funds had cleared XEs own bank accounts.
XE regrets that as a result of its internal policies you were not able to have a more
satisfactory customer experience.Sincerely,
Consumer ********************* **************
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Get a QuoteCustomer Complaints Summary
45 total complaints in the last 3 years.
16 complaints closed in the last 12 months.