Xoom Money Transfers Complaint

International money transfer Wrong amount charged or received

Xoom Money transfers department,

International money transfer Wrong amount charged or received Texas

On - -, 2017, I accessed -oom.com with the intent of transferring $ - from my - - - account to a - - - - " - '' - account held by a - - After I input all required information for this transfer, I was sent an email notifying me the funds should be available to my - friend on - -. Shortly thereafter on the same day, I was asked to verify additional information, which I did immediately. I received a text message from -oom the morning of - -, stating my " transfer to - was sent to - - -. Transferred - - ''. However, later than morning, I receive a email message from -oom stating " We 're sorry, -oom or our partner has encountered an unexpected problem processing transaction -. We 've cancelled the transaction at this time and sincerely apologize for any inconvenience. '' When I contacted -oom about the " problem '', I was told that - declined the exchange rate which -oom had used to induce me to send the transfer through them, and therefore -oom had to cancel the transfer. I assume this meant - now required a more favorable rate than that which -oom has sold to me. When I pointed this out to -oom, they said they could not reinstate my original transfer for any reason. Based on these facts, it seems clear that even though -oom created a contract with me using a certain exchange rate, they decided not to honor such when their partner increased its exchange rate. This would not only be a breach of contract, but a very unscrupulous means of doing business.

Xoom customer in Texas
Feb 08, 2017

* Source: CFPB Complaint Database

Xoom response to complaint:
Closed with explanation

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