Home Bad Business Partners Review of XE Corporation / Currency Company

XE Corporation / Currency Company  -  Illegal practices, unprofessional service!

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12:00 am EST
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Beware of unethical practices in, a company who is dealing with currency conversion business. I had applied for membership which took more than 15 days to go through, i provided them every detail, including my personal details, company details, bank details, personal verification, password hints etc.

A rude lady by name Fiona harassed me at the last stage, if I do not give SIN number, my account activation will be canceled, however this was not covered in their earlier request. I told them it is not mandatory and non of your documents ask for that. She reiterated and told me that If i don't give my activation will be canceled. I asked her to send me relevant documentation which states that it is mandatory. However She sent me email without any link of said information, which stated that Since I did not provide bank information or Because i did not fax company information, my membership activation is canceled, In this email there was no such claim what she asked me for SIN over phone. Her rant was harassing and painful which struck on SIN number over phone. Had she been little honest, she could have documented whatever she requested.

This experience was quite disturbing and worth reminding forum. Another person Mike called at repeated same thing - Since I did not give required information my membership is canceled, however at no point of time he said that SIN is mandatory unlike fiona.

Later I got email from Lee sperry, who said that it was a mistake on the part of above said agent of
but still my membership was considered to be canceled as he claim I opted for that, it was a complete lie on the part of xe and they made a bogus claim. He did not answer my question , as why she demanded SIN number when it was not necessary by

Please be aware that is seeking some sort of information which is not legally required. Their working system is total unprofessional, I wonder if they are running some sort of scam and unethical business practices. Be careful , I find them fishy because in any of their communication , they do not write their contact information of phone number. Even the calls I got from them were blocked id.

They run their shop from no where, from unknown location. However their domain is registered in New market outside toronto. Be careful, this is what is my opinion with the bad treatment I faced. They literally harassed me for their illegal demand and my account was canceled. Probably they are scamist.

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Feb 04, 2018 1:11 am EST
Verified customer This comment was posted by a verified customer. Learn more

UPDATE: It has been 3 weeks since they stole my money. I went to the police station to file a police report. I hope the police can help get my money back! GIVE ME BACK MY MONEY YOU EVIL CROOKS!

Jan 24, 2018 8:52 pm EST
Verified customer This comment was posted by a verified customer. Learn more stole my money and refuse to give it back! agreed to convert USD6024.75 to CAD7500 for me. They took the USD6024.75 out of my USD bank account, and never deposited the CAD7500 to my CAD bank account. Instead they sent me an email saying that they decided to cancel the transaction and close my account. When I asked them to send me back the USD6024.75 they took, they told me to contact my bank to get my money back. My bank says I need to tell to send me my money back. is refusing to send me my money back. When I called on the phone and asked why they don't just send me my money back, they just hung up on me. In emails, they continue to tell me that my bank would do it for me, but my bank says they need to send me my money back. are evil crooks! They stole USD6024.75 from me and REFUSE to send it back to me! NEVER USE!

Jul 24, 2017 9:08 am EDT

Disgusting and very unprofessional . Website shows a rate and they quickly take your money then they start their nonsense with demanding more and more documents. Eventually they start fibbing you off a week later still no transfer and still no refund. Then they demand a large deduction of fees if you cancel. Damned if you cancel and damned if you dont because they will not transfer. Its a scam organisation FCA should close them down i still have not had my refund or my transfer and its over a week. All calls are simply given a standard reply someone will call you back and 4 days later no calls no nothing. DO NOT TOUCH THIS COMPANY !. They tempt you with a nice exchange rate and quickly take your money then they ask for a 100 things and if you dont they deduct a large amount in fees and make you beg and cry for your money back. SOMEONE SHUT THIS COMPANY DOWN!

Dec 11, 2016 12:41 pm EST
Verified customer This comment was posted by a verified customer. Learn more

Avoid this company at all cost. I used to transfer small amount of money to Europe. After October 31, 2016 my recipient was charges almost 20 dollars for a 300 dollar transfer. When I called, I was told that they had received similar complaints and that they would be making "changes" in the coming 2-3 weeks. No official statement from the company apologizing and no offer of compensation. Avoid, avoid, avoid.

Aug 30, 2016 10:52 pm EDT

Avoid this company - very painful to activate a/c.. they ask for every bit of info imaginable, including on the recipient! You need to provide recipient's passport and bank statement to transfer a couple of $100 to them!

Jun 07, 2015 12:25 am EDT

I had a security scare with About an hour after I spoke to a XE. com representative about a transaction, I received a call from xe security clarification department. The guy had my phone number and name and knew I had talked to some one at XE. com. He told me that he wanted to do security check about the transaction. However, Instead of asking typical security questions, he asked me to provide him the debit card number associated with my bank account that I had used during the transaction. I refused. He then asked my log in information in to By now I was sure he was a scammer. I told him that I will call and if they confirm he was in fact from security department I will call him back. He offered to connect me via three way to reps. I refused this and told him that I will call and will ask them to connect me to him. He informed me that did not have a way to three way connect him. I hung up on him and called . They had no idea who this guy was. What is worrisome is how did he know I had done transaction with xe.come? with in that hour? . Some one from the customer service must have given him my information. The number used to call me was [protected], which is a land line in Rialto California. Another curious thing was when I called back to xe customer service, after a wait of few minutes, some how they connected me to the same rep who had handled my transaction before. This never happens when I call other banks or western union before reps are so busy that you never get the same person. Obviously there were no supervisors available to talk to me. Did I mention that the customer service rep was sitting in Philippines (which she confirmed ) and the scammer most definitely had a philippino accent. I requested a supervisor in USA or Canada who was not available obviously. I don't think I will use this company and will delete my account asap. They probably are legitimate company but this is definitely a serious breach of confidence.

Feb 27, 2015 2:56 pm EST

totally agree with the above - I've just spent 3 days of hell trying to get basic wire transfer information of them - there is no customer service, they drive one to frustration, and can give no clear answers to straight forward questions on proceedures and timings. I had used this company some &yrs ago when they were based in Canada, it was a smooth seamless and easy operation dealing with transfer for a apartment purchase. My current transfer is also for a property purchase, but from rubbish treatment todate, and having read the above I'm pulling the plug on this method and will bite the bullet and stick with my rubbish bank rate I'm offered by Lloyds.

Thanks to everyone who posted you helped me make a decision guys.

Dec 23, 2014 5:13 pm EST

I agree that services have gone down the drain. It has become one of the worst company on the planet. Their agents in Easter Europe are rude and can not read and speak English propely. They drop the calls and have no respect for the customer. This was a good company when they were based in Canada. It seems that the management of this company became greedy and moved the operation to oversees location. I think that every one should stop dealing with this company to hurt the bottom line so that they get a lesson. They ask the same documents again and again many times in a year in the name of law. If they do not want to provide the service why they do not just tell the customer. Their review department is also worst as they never respond. I tried to reach out to Executive managment of this company but they are sleeping in their cabins. I am pretty sure that this kind of service will hurt their business over period of time.

Dec 23, 2014 12:07 pm EST
Verified customer This comment was posted by a verified customer. Learn more

I would also like to add support to poster conjob's comment. During our third phone call, we spoke with representative Justina Jovaifaite, who would not provide us with any information on our pending transfer or our account. We asked to speak with a manager and were told first that the manager was not there. Then that the manager was there but not available. Only after threatening legal action and vowing to not get off the phone until we spoke with someone who could actually provide us with information were we promised a return call about our transaction.

Dec 23, 2014 11:32 am EST
Verified customer This comment was posted by a verified customer. Learn more

We attempted to make an electronic transfer 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 be something we could also 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 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 suspicious and untrustworthy. I am amazed they still have a strong rating with the BBB. If I had seen reports like these before making this transfer, we never would have done it. And we certainly will never trust them with our business again. is a scam company
i also went thru a million hoops to sign up with them
then i tried to transfer 500$ test transaction to china...
after 1 month later my reciever didnt get the funds
they gave every excuse in the book..why not
first they said, that i didnt provide the "reason for the transfer" which was not a field or question in any part of the process.
then they said, china is slow-to-pay country..
i spent more than 3 hours on the phone dealing with them trying to resolve and they just going in circles
can anyone advise me who to report this to, and how to get back the $$ ?

Jan 11, 2011 9:46 pm EST

I wished I saw your posting before using I used their service to wire Chinese currency to our China bank account.. I sent close to $39K USD, to convert to CNY. Then we got call from bank in China that an incoming wire of $38xxx USD! WTF?
they took close to $900 USD for what? I paid the wiring fee... now their customer service lead Brendan Moniz is trying to deny accountability on their part...

Sep 21, 2010 1:16 am EDT

I have a similar experience as the poster conjob. has withdrawn money from my Candian Dollar account and it has been over 30 days that they have not deposited the currency exchange into my US Dollar account. They can not give me a clear answer why and what is going on with my money. This is my first transaction for a large amount of money and I am regretting taking the advise of posters on online boards to use

I should have known that this is not a professional organization because of the many discrepancies they have with the types of information they require. At this time I am contacted my attorney and he will be contacting them for my money including all attorneys fees and related damages and also to remove all my personal data from their database. I do not trust this organization and the people that work there.

Aug 05, 2010 1:21 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

On 23 July 2010 I initiated a funds transfer of $5000.00US from my Chicago bank account to my German bank account using my account at The transfer was an exchange of $5000US for EUR 3, 796.80 at an exchange rate of EUR 0.7594 for $1.00 US. funds transfer policy is 5-7 business days.
I called XE at [protected] and spoke with Brendan Moniz. Mr. Moniz assured me my funds would be deposited by 3 July 2010. They were not. I again called Mr. Moniz who said he would institute a Wire transfer for my EUR 3, 796.80 and that the money would be deposited by 4 July 2010. It was not. I again called Mr. Moniz on 5 July and asked to speak with his manager. Mr. Moniz said that all managers higher than him “were on vacation” and that I could not speak with anyone other than Mr. Moniz. refuses to process my transaction. has withdrawn $5000US from my bank account and refuses to release that money.