Jeremy T.

This review is about the XE sold last year to a bunch of Yahoo's. Prior to this sale, I had transferred hundreds of thousands of dollars with XE without a single problem until yesterday... Mid-transaction, after receiving my trade confirnarion, XE's "verification team" decided that I was a risk, and cancelled the order. They then proceeded to not contact me about this issue, close my account, and not refund the money that was sent to them to fund the exchange a week earlier.

After a couple days of not seeing the funds in my Aussie account, I called XE to see what was up. Talking to their Canadian and New Zealand office was pointless as they 'had no access to help and could not offer me details". Finally on the third try, I got their US office who gave me their twisted tale, refused to tell me why I was deemed a risk (as per their policy), and told that I needed to request my bank to do a "charge-back" on an ACH transaction. They also were unable to escalate me, and informed me that no contact between clients and their mysterious "Verification Team" was allowed.

Finally after calling back every hour for a whole afternoon, reminding them that they were stranding my wife and young children in a foreign country, threatening to contact the media for help, and flat out accusing them of stealing, they finally got the point and refunded the money. I can only imagine how many people less familiar with banking and foreign exchange have been caught up in their terrible BS...

Bottom line, post sale, this is not the efficient pain-free Foreign Exchange company of past. Now they are a rude, questionably competent company, that does not honor their deals nor communicate with customers willingly. They hide behind their onerous terms of service and have trained their staff to confuse and obscure instead of assist. Please do not do business with them to save yourself a lot of time and effort if things go wrong...