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Discussion in 'Scam Alerts' started by conned, Aug 5, 2010.

  1. conned

    conned Recruit

    Aug 5, 2010
    Likes Received:
    On 23 July 2010 I initiated a funds transfer of $5000.00US from my Chicago bank account to my German bank account using my account at XE.com. The transfer was an exchange of $5000US for EUR 3,796.80 at an exchange rate of EUR 0.7594 for $1.00 US. XE.com funds transfer policy is 5-7 business days.
    I called XE at (250) 412- 1669 and spoke with Brendan Moniz. Mr. Moniz assured me my funds would be deposited by 3 July 2010. They were not. I again called Mr. Moniz who said he would institute a Wire transfer for my EUR 3,796.80 and that the money would be deposited by 4 July 2010. It was not. I again called Mr. Moniz on 5 July and asked to speak with his manager. Mr. Moniz said that all managers higher than him “were on vacation” and that I could not speak with anyone other than Mr. Moniz.
    XE.com refuses to process my transaction. XE.com has withdrawn $5000US from my bank account and refuses to release that money.
  2. Pharaoh

    Pharaoh Colonel

    Oct 3, 2007
    Likes Received:
    Not forex trading, but more of a direct foreign exchange.

    I'm less than happy to hear this. I use XE.com all the time to check rates for currencies that aren't in my brokers' platforms, and have considered using their exchange services.

    My recommendations:

    1. Tell Brendan Moniz that he's got until Monday to get the money into one or the other of your bank accounts. Otherwise, you will . . .

    2. Contact both of your banks and ask them how to best start a fraud investigation. Enough complaints like this to banks and they'll stop doing business with XE.

    3. Since the funds originated inside of the USA, go to IC3.gov and follow their procedures for filing a complaint.

    No matter what happens, please post a followup here.

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