ComplaintsforXE.com

• Initial Complaint

  02/01/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Requested transfer of 600USD to bank in ******** on 1/18. $600 was deducted from my U.S. bank account.Received an email on 1/19 that my account was closed with no reason stated.Funds have yet to be returned as of 2/1.

  

  Business response

  04/04/2023

  Dear ***********************:

  Continental Exchange Solutions, ***** dba XE *** XE is in receipt of complaint number
  18965656. The complaint noted that XE unjustifiably declined to open your account and 
  requested a refund.

  Our investigation determined that you attempted to process a transaction on January 19, 
  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 ********************* ************** 

• Initial Complaint

  01/31/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I tried opening an account with XE.com so that I can transfer remittance to my employee and sub contractor in *****. I submitted all the documents that XE.com needed. For over 10 days, the account remained under review. And after calling support (thru chat option on their web site), no one could help me. Finally after so much frustration, I called again to close my account. I chatted with representative ********* and got disconnected in the middle. I also chatted with agent **** ******************* ***********************, he too could not close my account. He says his system is 'updating'. I just ended up wasting my time just to close my account. Account never got fully setup. And now I cannot close my account either. Sorry state of affairs.

  

  Business response

  04/04/2023

  Dear *******************:

  Continental Exchange Solutions, ***** dba XE *** XE is in receipt of complaint number
  18962445. The complaint requested for XE to close your account.

  Our investigation determined that you attempted to open a business account. The
  application went through a review process and XE requested for additional information.
  While the application was still being reviewed, XE received your request to close the
  account.

  On February 01, 2023, XE closed your account, and an email was sent to you confirming the
  account closure.

  XE sincerely apologizes for the inconvenience caused by the delay in review.

  Sincerely,

  Consumer ********************* **************

  Customer response

  04/04/2023

  I closed the account out of sheer frustration. I called them several times and each time the response was 'my application was under review'.  This business is a joke.  No business can function if XE takes weeks to review a simple application. I gave them everything they needed - my bank statements, my company information and much much more.  They still could not get beyond the review process. 

  I am not asking for any damages or any recourse.  I want my complaint to be known to all so that they are aware how sluggish is XE in its operations.

  If this is their customer service on opening a new account, heaven help those that need help when an issue occurs during a money transaction.

• Initial Complaint

  01/18/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Jan 4, 2023 Your reference #C12825360 I have sent the money on Jan 4 and till now the recipient did not have the money

  

  Business response

  04/04/2023

  Dear *************************:
  
  Continental Exchange Solutions, ***** dba XE *** XE is in receipt of complaint number 
  18831188. The complaint noted that XE failed to timely process your transaction.

  Our investigation determined that you processed a transaction on January 04, 2023. 
  However, XE contacted you because additional information was required to release the 
  transaction. It was noted that you provided the requested information on January 17, 2023.

  Once the requested information was received, XE released the transaction for payment.

  XE regrets that as a result of its internal policies you were not able to have a more 
  satisfactory customer experience. 

  Sincerely,

  Consumer ********************* ************** 

• Initial Complaint

  12/07/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I opened an account and sent a small test amount to a contractor and they shut down my account immediately. I appealed but they won't give me any information on why. They also did deduct my payment out of my bank and refuse to release it. They have all my personal information AND MY MONEY but won't let me appeal the decision to shut down my account. I've read the documentation and I can't figure out what I could have done to trigger a closure. Waste of time, incredibly frustrating and downright FRAUDULENT.

• Initial Complaint

  11/18/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I intend to transfer money to ***** so i went to xe.com site , Registered and put all my bank account information and tried to do the transfer . Transfer did Not took Place and They Closed the Account for NO reason .NOW THEY HAVE ALL MY BANK ACCOUNT INFO. AND I AM NOT ABLE TO USE THEIR SERVICES I AM WORRIED ABOUT MY BANK INFO. THIS COMPANY IS NOT TRUST WORTHY AND READING REVIEWS IT LOOKS LIKE SCAM

• Initial Complaint

  09/22/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Xe.com claimed it could offer wire services to other countries. On 9/4/2022, it received $1000 U.S. dollars from me, but until 9/22/2022, it did not wire my money to my bank account in another country. Their customer service refused to refund my money and used an excuse that they needed to wait for their branch in another country to respond (which has not in 18 days).

• Initial Complaint

  09/14/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  So, I get this letter from ************************** stating that they have unclaimed funds (amounting in total to $4000 dollars). The letter, dated July 25, 2022, states that if I do not return the completed letter by August 15, 2022, I will need to file a claim with the State Treasurer Unclaimed Property. Well, I signed it and sent it on-time (as the enclosed certified mail receipts can attest to). I have yet to be updated on the status of my claim, despite frequent attempts to call/email Continental Exchange

  

  Business response

  02/15/2023

  Re: Transaction No.: US1857492292, US1858690892

  Dear ***************************:
  
  Continental Exchange Solutions, **** dba ************* Services ***** is in receipt of complaint number
  18027257. The complaint requested for *** to refund the above-referenced unclaimed transactions.

  Our investigation determined that you processed the above-referenced transactions on August 04, 2016. You
  received a letter indicating that your transactions remained unclaimed and provided instructions on how to
  claim the funds. The letter indicates that the funds need to be claimed by October 2022, or the funds will be
  sent to the state.

  Our investigation also determined that your request to claim the funds were received. On September 23,
  2022, *** mailed the unclaimed funds to you via check numbers ****** and 559468.

  Please contact us should you have any questions.
  
  Sincerely,

  Consumer ********************* **************

• Initial Complaint

  06/20/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I initiated a transfer of ****** on May 28, *********************************************** ****** (contract number: C11720224). The money was withdrawn from my bank account on June 3, 2022, and was supposed to be delivered on June 9, 2022. However, as of today, June 20, 2022, the recipient has not received the sum despite multiple follow up calls that I made to ensure delivery.

• Initial Complaint

  06/03/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I tried to transfer $58000 using xe.com to *****. The transfer failed as the bank in ***** rejected the transfer due to wrong recipient details.Since then, I have tried multiple times to get this $ returned back and it's taken Xe.com more than *************************** the first call after I was informed that the transaction was declined, they told me they have all the details needed to return the money. After 5 days of no activity, I followed up repeatedly and it took until now to get them the details I offered to give them in the first call. Now, the money is being returned as I type this. I am asking for a prorated interest of 5% on the full amount since Xe had the $58K until now. Their behavior has been completely unacceptable.

• Initial Complaint

  05/19/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  This complaint involves Xe.com as on April 5th 2022 at **** PM. I used Xe.com to make a transfer #********* for $329,000 ********** dollars from my ********** Account to my US Account at an exchange rate of ****** / **** which would have paid me $249,393.. As requested by Xe I transferred the money the following day on April 6th from my ********** Bank who told me it usually takes 5 days to transfer the fund to an overseas account because of all the regulations involved. I contacted XE.com everyday from April 9th through the 11th for updates and to check on the funds arriving in their account and on April 11th I received a written notification from my Bank that the funds did reach their account on that day! I contacted Xe.com on the 11th and 12th through their customer service representatives, sent them my bank confirmation of the funds arriving on the 11th of April, and they all kept saying that my funds had not reached their account. Then I called again on the 13th and there customer service representative checked their account and said yes the funds had arrived on the 11th of April just as my back had told me per their confirmation notice. Then then very next day, after the ********** dollar had dropped from **** to ***** they automatically with my knowledge or consent or talking to me put in a reversal exchange number ********* and said they cancelled my transaction and were in the process of returning my initial funds to my ********** Bank at the original exchange rate of **** and not the ***** daily rate at that time on April 14th. This means that Xe.com pocketed $5407 ** dollars or $7291 ********** dollars from my transaction by cancelling this transaction when they already had the money in their account 3 full days prior to the cancellation. To me this not a company to do business or one that can be trusted as they say on their advertising as I would call them the "most dishonest and not to be trusted name in currency exchange!

  

  Business response

  02/14/2023

  See Attached 

  Customer response

  02/28/2023

   The response from XE.com for my complaint filed with the BBB does not address any of the most important facts of what occured during this transaction being:

  
  

  The money was sent from my bank and arrived in their account within the specified time required.

  I called XE on the phone when they told me they could not locate the funds, and their customer service representative located the funds in their account by the exact amount sent and my name and immediately forwarded that i formation to their transaction unit. At the same time I had my bank send a copy of the money wire again to XE with the confirmation number clearly stated at the top of the page.

  THREE days later not one but three business days later, xe does not contact me or say anything, they automatically cancelled my transaction and notified ne they were sending my money back to the my bank from which it came. I never approved or agreed to this decision as they said in their letter!

  Inquisitive, I went online and started reading reviews and I found this had happened to many many other customers as well.

  I am sure that if the Australian dollar would have dropped significantly during those 11 days, XE would have completed the transaction. But since the Australian dollar gained on the US dollar significantly, they chose to cancel my transaction and steal, yes I said steal those gains from me to the tum of just over $5000 US.

  Theft is theft, when someone takes something that is not rightfully theirs to take! And XE's dealings goes against The Implied Covenant of Good Faith and Fair Dealing in that a business will stand true to their dealings with a customer and not let their own greed deter them from good judgement or fair dealings! XE stole from me  and I do not accept their letter or rationalization. Please keep my complaint active for the full three years with the BBB until they contact me and make full restitution. 

  Thank you,

  ******* ** ******

  

  Business response

  08/23/2023

  attached

  Customer response

  08/23/2023

   The response they sent is a lie. In the previous documents and letters I sent in I documented correctly that their female employee located the funds (by exact transfer amounts and location of transfer) in their London account and sent an immediate notification to their exchange division notifying them of the funds arriving on time and deposited in the account 6 days ago! (thats 9 days they already jad the funds in their account). To say they had no knowledge of the arrival of the funds is a complete lie and I do not accept their response and please keep my complaint posted for the full three years until they make me a financial offer for the full amount they stole from me as indicated in my innitial complaint! Thank you!

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩