XE.com account closed

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JohnnyDoe

Mentor Group Gold
After 2 years and about $1m moved through it:

We are unable to make the payment and have refunded your funds at no loss to you. We have taken this action in order to maintain our duty of care towards you as our customer and to ensure we do not breach our regulatory obligations.

Unfortunately, we are unable to continue to offer you our international payments service and have closed your account. We will not be able to provide any further information as to the reason why.

Ps. The payment was to a big UK law firm. I had already sent money to it twice before.

So we can add XE.com to the list of clown banks/EMI/money transfer services or whatever they are.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Sounds like you went beyond their risk tolerance in terms of total transactions value perhaps.

I use XE literally everyday.....but just their mobile app currency converter smi(&%
 

NicolasMaduro

Entrepreneur
I'm pretty sure OP is in a high risk industry, and I think it would be nice to disclose? Cause many EMIs you are banned from didn't really support your business model?
 
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Sols

Staff member
Mentor Group Gold
I wonder why it is that this keeps happening to some people and almost never to others.
 

JohnnyDoe

Mentor Group Gold
He must be high risk with all the accounts he get closed.
It was a personal account which I used to pay lawyers and Amex monthly statements…

Isn't it the second account they close of yours!
No it’s the first time, I was actually happy with them

I wonder why it is that this keeps happening to some people and almost never to others.
I have no idea. I moved some money but not huge amounts, and all sent to big firms like law firms and Amex.
XE is just another shitty company
 

KDX

OffshoreCorpTalk Addict
Entrepreneur
Crazy how you can't even bank in todays world.. complete shitshow. And then there's the EU calling for more regulation!
 

daxbr

Entrepreneur
I wonder why it is that this keeps happening to some people and almost never to others.
Would it be because some people took time to establish a personal acquaintance with a bank official rather than surrendering a video with xxx samples?
 

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