XE Trade / suspicious banking practices, theft
We attempted to make an electronic transfer with XE Trade of 7500 Euros from a German account to a US account. During that time, unbeknownst to us, our US bank put a temporary hold on deposits due to suspicion over a deposit my husband made while travelling. This was quickly sorted, but when the XE Trade transfer did not appear, we suspected this might be the reason and figured it would also be something we could sort out quickly.
How wrong we were. My husband's online account with XE Trade was suspended so we could not check out the status of the transfer. When we tried to call their customer support, we were told they have no information about the transfer or our account and that they did not want to do business with us anymore. Well after this treatment, we didn't either! But we still wanted to know where our money was! My husband was told he would receive an email with the status of the account but never did. We called three times over the course of a week, each time being treated rudely and being told we would receive no information about our transfer. After threatening to call a lawyer and file a complaint with the BBB, we received a call back being told that the transfer was rejected by the US bank and the money would be put back on our German account. We'll see if it actually happens.
But the plot thickens. I called our US bank and they told me that in fact there was no attempted deposit, but an attempted *withdrawal* for the amount that was supposed to be deposited. This was rejected as being suspicious. Overall the business practices of XE Trade are unprofessional and untrustworthy. We're still not sure if this was an attempt to scam us--one that may yet succeed. I am amazed they still have a strong rating with the BBB. We certainly will never trust them with our business again.