I asked a company to transfer money to another country, but it didn’t give me information about the fees and exchange rates. Why?
- Listed: August 10, 2022 1:31 pm
- Expires: This ad has expired
Description
I asked a company to transfer money to another country, but it didn’t give me information about the fees and exchange rates. Why?
Not all companies that send money to other countries qualify as remittance transfer providers, and may not have to provide fee and exchange rate information.
For example, the federal law does not apply to companies that consistently provide 100 or fewer remittance transfers each year.
You can still transfer money internationally using a company that is not a remittance transfer provider, but you may not receive the same rights and protections, including:
- Up-front information about certain fees and taxes and the exchange rate.
- A receipt that shows how much was sent and when the money would be available to the recipient.
- The ability to cancel your transfer at no charge.
- The right to have errors investigated and fixed.
If you have a complaint and you’re not sure where to turn, submit a complaint to the CFPB online or by calling (855) 411-CFPB (2372). If we find that another government agency would be better able to assist, we will forward your complaint to them
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Listing ID: 16462f3b2fdaadfe
- Listed by: Editor
- Member Since: July 24, 2018
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