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What to do if things Go Wrong with your Money Transfers
fxcompared.com provides answers to the most common questions asked when something goes wrong when you are sending money overseas
The most important point to make is that you should always keep a receipt of your transaction. If things do go wrong, you should go back to the outlet where you sent the money from and present this receipt, or alternatively contact their customer services number which should be available from the outlet where you sent the money from. Most providers of money transfer services do have a customer service charter or something similar in place, which will enable you to get you a refund or at least provide an explanation of the difficulties and how they are going to be resolved.
If things go wrong when sending money overseas, please use the following links for who to contact for help and advice:
When sending money from the the UK
When sending money from the USA
When sending money from Switzerland
When sending money from Canada
When sending money from Germany
When sending money from Greece
When sending money from Austria
In the UK
If something goes wrong and the money transfer company you used is unable to resolve the problem to your satisfaction, you should contact the Financial Ombudsman for help. The Financial Ombudsman can be contacted in the following ways:
The Financial Ombudsman
Consumer helpline - 0845 080 1800
E-mail - complaint.info@financial-ombudsman.org.uk
Post - Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR
Telephone - +44 (0)20 7964 1000
Fax - 020 7964 1001
The table below shows a step-by-step way of how to resolve a complaint (courtesy of the Financial Services Authority (FSA):
How to complain about a firm
I have a complaint: what can I do?
Follow this diagram to see what steps you can take:
"This diagram is reproduced by kind permission of the Financial Services Authority (FSA). General information about financial services is available from theFSA which is an independent watchdog set up by the government to regulate services and protect your rights. It provides free and independent information about financial matters on its website at www.fsa.gov.uk
Further information
All the UK's high street banks and building societies are regulated by the Financial Services Authority (FSA) and subscribe to the Banking Code Standards Board (BCSB). MTOs are regulated by Her Majesty's Revenue and Customs (HMRC). These organisations will not be able to assist with individual complaints, but you can check with them to see if the provider you are using is operating legally and is regulated by the UK government.
Contact details
Financial Services Authority
FSA Consumer Helpline - 0845 606 1234 (minicom/textphone - 08457 300 104). Call rates may vary.
The FSA does not deal with specific consumer complaints, recommend firms or give legal advice. However, the Consumer Helpline can answer general queries about financial products and services. It can also tell you if a firm is authorised and help 'signpost' you if you have a complaint and don't know who to contact.
The Helpline is open between 8am and 6pm Monday to Friday offering both an automated publication request service and advisors to take your call.
HM Revenue and Customs National Advice Service
The national enquiries help line is open 8am to 8pm Monday to Friday.
If you have a question about MTOs, please call 0845 010 9000 then select option 3 on your telephone handset (+44 208 929 0152) outside UK.
To enquire about a specific MTO you will need to provide them with a Money Services Business (MSB) number or the company's registered name and address which HMRevenue and Customs require before they can help.
In addition, if you believe that a provider is operating illegally, HM Revenue and Customs provide a Customer confidential free-phone number, 0800 595000, where you can leave information concerning the provider in question.
Banking Code Standards Board
The mission of the BCSB is to ensure that the Banking Code and the Business Banking Code deliver their promises of fair dealing and standards of good banking practice to the customers of UK banks and building societies.
If you have a specific query on a bank, you can contact the BCSB through the enquiry form on their website, or by post, email or telephone.
Phone - 0845 230 9694
Fax - 020 7600 6914
Email - helpline@bcsb.org.uk
Post The Banking Code Standards Board, 6 Frederick's Place, London, EC2R 8BT
Although the BCSB cannot resolve matters directly, they may be able to point you in the right direction.
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In the USA
Again, the most important point to make is that you should always keep a receipt of your transaction. If things do go wrong, you should go back to the outlet where you sent the money from and present this receipt, or alternatively contact their customer services number, which should be available from the outlet. Most providers of money transfer services do have a customer service charter or something similar in place, which will enable you to get you a refund or at least provide an explanation of the difficulties and how they are going to be resolved.
Who to contact:
Money transmitters are not regulated at a Federal level, rather, by state financial regulatory bodies. However, there are a number of Federal organisations that may be able to help:
Consumer Action, Federal Citizen Information Center
Federal Financial Institutions Examination Council's (FFIEC)
‘Promoting uniformity and consistency in the supervision of financial institutions’
www.ffiec.gov/
For more information on money transfer companies:
National Information Centre
www.ffiec.gov/nicpubweb/nicweb/NicHome.aspx
MTRA Administrator
Money Transmitters Regulatory Association
587 James Drive
Harrisburg, PA 17112-2273
Phone: (717) 545-9991
Fax: (717) 545-9247
sshermer@shermer-assoc.com
http://www.mtraweb.org/
http://www.mtraweb.org/links.shtm for contact details of state financial regulatory bodies or see below
Individual State and disctrict bodies
Idaho Consumer complaints: www.hawaii.gov/dcca/areas/dfi/consumers_help/complaint/ Idaho - Department of Finance 800 Park Boulevard, Suite 200
|
Illinois Department of Financial and Professional Regulation Division of Financial Institutions Currency Exchange Section www.idfpr.com/ |
Indiana Department of Financial Institutions |
Iowa Division of Banking |
Kansas Office of the State Bank Commissioner 700 Jackson Street, Suite 300 TopekaKS 66603-3714 Tel: 785-296-2266 Toll free: 1-877-387-8523 (Consumer Helpline) www.osbckansas.org |
Kentucky Department of Financial Institutions 1025 Capitol Center Dr., Suite 200 Frankfort, KY 40601 Tel: 502-573-3390 Toll free: 1-800-223-2579 E-mail: kfi@ky.gov www.dfi.state.ky.us |
Louisiana Office of Financial Institutions PO Box 94095 Baton Rouge, LA 70804-9095 Tel: 225-925-4660 E-mail: ofila@ofi.louisiana.gov www.ofi.state.la.us |
Maine Bureau of Financial Institutions 36 State House Station Augusta, ME 04333-0036 Tel: 207-624-8570 Toll free: 1-800-965-5235 TTY: 207-624-8563 www.maine.gov/pfr/index.shtml www.mainebankingreg.org |
Maryland Commissioner of Financial Regulation 500 North Calvert Street, Suite 402 Baltimore, MD 21202 Tel: 410-230-6100 Toll free: 1-888-784-0136 (MD) TTY: 410-767-2117 E-mail: finreg@dllr.state.md.us www.dllr.state.md.us/finance |
Massachusetts Consumer Affairs and Business Regulation |
Michigan Office of Financial and Insurance Services 611 W. Ottawa Street, 3rd Floor P.O. Box 30220 Lansing MI 48909 Tel: (517) 373-0220 or (877) 999-6442 E-mail: ofis-info@michigan.gov www.michigan.gov/cis/0,1607,7-154-10555---,00.html |
Minnesota Financial Examinations Division |
Mississippi Department of Banking and Consumer Finance |
Missouri Department of Finance |
Montana Division of Banking & Financial Institutions |
Alabama Superintendent of Banks |
Alaska Division of Banking and Securities |
Arizona Department of Financial Institutions 2910 N. 44th Street, Suite 310 Phoenix, AZ 85018 Tel: (602) 255-4421 Toll-free: (800) 544-0708 E-mail: consumeraffairs@azdfi.gov http://azdfi.gov/ http://azdfi.gov/CAD/Intro.htm |
Arkansas State Bank Department |
California California Department for Corporations |
Colorado Division of Banking Department of Regulatory Agencies |
Connecticut Department of Banking |
Delaware Office of the State Bank Commissioner 555 E. Loockerman Street Suite 210 Dover DE 19901 Tel: (302) 739-4235 or (302) 577-6722 Licensing/consumer complaints fax: (302) 739-2356 http://banking.delaware.gov/ |
District of Columbia - Department of Insurance, Securities and Banking 810 1st Street, NE, Suite 701 |
Florida Office of Financial Regulation |
Georgia Department of Banking and Finance |
Hawaii Division of Financial Institutions Department of Commerce and Consumer Affairs P.O. Box 2054 Honolulu, HI 96805 Phone: (808) 586-2820 Residents on the neighbor islands may call the following numbers followed by 6-2820 and the # sign: Kauai: 274-3141 Maui: 984-2400 Hawaii: (808) 974-4000 Lanai & Moloka: 1-800-468-4644 (toll free) dfi@dcca.hawaii.gov www.hawaii.gov/dcca/areas/dfi |
Nebraska Department of Banking & Finance |
Nevada Financial Institutions Division |
New Hampshire State Banking Department |
New Jersey Division of Banking |
New Mexico Regulation and Licensing Department |
New York New York State Banking Department |
North Carolina North Carolina Commissioner of Banks |
North Dakota Department of Financial Institutions |
Ohio Division of Financial Institutions Department of Commerce 77 South High Street, 21st Floor Columbus, OH 43215-6120 Tel: 614-728-8400 Fax: 614-644-1631 www.com.state.oh.us/ODOC/dfi/ Consumer complaints: http://www.com.state.oh.us/dfi/ccmain.htm |
Oklahoma State Banking Department |
Oregon Department of Consumer & Business Services Division of Finance and Corporate Securities 350 Winter Street, NE, Room 410 Salem OR 97310 Tel: 503-378-4140 Toll free: 1-866-814-9710 (Fraud/Complaint Investigation) TTY: 503-378-4100 E-mail: dcbs.dfcsmail@state.or.us dfcs.oregon.gov |
Pennsylvania Department of Banking |
Puerto Rico Department of Financial Institutions |
Rhode Island Division of Banking |
South Carolina State Board of Financial Institutions |
South Dakota Division of Banking 217 1/2 W. Missouri Ave. Pierre SD 57501-4590 Tel: 605-773-3421 E-mail: drr.banking.info@state.sd.us www.state.sd.us/banking Consumer complaints: www.state.sd.us/drr2/reg/bank/consumer/complaints.htm |
Tennessee Department of Financial Institutions |
Texas Department of Banking |
Utah Department of Financial Institutions |
Vermont Department of Banking, Insurance, Securities and Health Care Administration |
Virginia Bureau of Financial Institutions |
Washington Department of Financial Institutions PO Box 41200 Olympia WA 98504-1200 Tel: 360-902-8700 Toll free: 1-877-RING-DFI www.dfi.wa.gov Consumer advice: www.dfi.wa.gov/consumers/moneytrans.htm Consumer complaints: www.dfi.wa.gov/consumers/complaint.htm |
West Virginia Division of Banking State Capitol Complex - Building 3, Room 311 1900 Kanawha Boulevard East Charleston WV 25305-0240 Tel: 304-558-2294 Toll free: 1-800-642-9056 (WV) E-mail: klawson@wvdob.org www.wvdob.org Consumer complaints: www.wvdob.org/consumers/complaints.htm |
Wisconsin Department of Financial Institutions 345 West Washington Avenue, 4th Floor Madison WI 53703 Tel: 608-264-7969 Toll free: 1-800-452-3328 (WI) TTY: 608-266-8818 E-mail: askthesecretary@dfi.state.wi.us www.wdfi.org |
Wyoming Division of Banking
|
In Switzerland
The Federal Banking Commission, also known as EBK is an independent agency of the Swiss government within the Federal Department of Finance, supervises most banking-related activities as well as securities markets and investment funds. Regulatory authority is derived from several statutes. Furthur information on it can be found at http://www.ebk.admin.ch/e/
Swiss Federal Banking Commission
Schwanengasse 12
P.O Box
CH-3001 Berne
info@ebk.admin.ch
+41 (0) 31 322 69 11
The office of the Swiss Banking Ombudsman, founded in 1993, is sponsored by the Swiss Banking Ombudsman Foundation, which was established by the Swiss Bankers Association. The ombudsman's services, which are offered free of charge, include mediation and assistance to persons searching for dormant assets. The ombudsman handles about 1,500 complaints raised against banks yearly
http://www.swissbanking.org/en/home/allgemein.htm
Swiss Bankers Association
Aeschenplatz 7
CH-4052 Basel BS
Switzerland
Tel: +41 (0)61 295 9393
Fax: +41 (0)61 272 5382
E-Mail: office@sba.ch
In Italy
If you experience problems with money transfer providers, please use the contact details below as a starting point or click here to go directly to their web site
BANCA D'ITALIA
Customers of banks and other financial intermediaries may ask the Bank of Italy to intervene in questions arising under specific contractual relationships when they are not satisfied with the response they have received from the intermediary’s complaints office.
Via Nazionale, 91
00184 Rome
Italy
Tel.: +39 06 47921
CERTIFIED E-MAIL
1. E-Mail
email@bancaditalia.it
2. Certified e-mail
bancaditalia@pec.bancaditalia.it
Language: Italian, English
In Greece
Always keep hold of your receipt/proof of sending, which you should take to the same agent or bank branch that you used to send the money. If you still experience problems, please contact the Bank of Greece by clicking here to go directly to their web site
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In Germany
Always keep hold of your receipt/proof of sending, which you should take to the same agent or bank branch that you used to send the money. If you still experience problems, please use the contact details below as a starting point or click here to go directly to their web site
Ombudsman Scheme for Public Banks
German Association for Public banks
Schlichtungsstelle Bundesverband Öffentlicher Banken Deutschlands
Lennéstraße 11
D – 10785 Berlin
Tel. +49 30 8192 0
Fax +49 30 8192 222
E-mail: postmaster@voeb.de
Language: German, English
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In Austria
Always keep hold of your receipt/proof of sending, which you should take to the same agent or bank branch that you used to send the money. If you still experience problems, please use the contact details below as a starting point:
Financial Market Authority (FMA)
Praterstraße 23
A-1020 Wien
Tel. +43-1-24959-0
Fax +43-1-24959-4499
www.fma.gv.at
Austrian Banking Ombudsman
Gemeinsame Schlichtungsstelle der Österreichischen Kreditwirtschaft
A-1045 Wien, Wiedner Hauptstraße 63
Tel: +43 (0)1 505 42 98
Fax:+43 (0)1 505 44 74
E-Mail: office@bankenschlichtung.at
Internet: www.bankenschlichtung.at
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In Canada
Who to contact:
If a Money Transfer Operator fails to carry out the transaction agreed to, there are various places one can turn to. To begin with, follow the same procedure as you would with a complaint in a bank. Speak with the branch manager and keep a copy of all documents and what was said during the meetings. If this proves unsatisfying ask to speak with the head of customer relations for the company.
If the matter remains unresolved and a third party need be brought in speak with the Financial Consumer Agency of Canada. They can be found at http://www.fcac-acfc.gc.ca/ and will be either provide aid or direct you to the appropriate contact. Their details are below.
Telephone
Information officers are available from Monday to Friday, between 8:30 a.m. and 6:00 p.m., Eastern Time.
Below are the toll-free numbers to call.
| For services in English: | 1-866-461-FCAC (3222) |
For services in French: |
1-866-461-ACFC (2232) |
For calls from the Ottawa area or |
613-996-5454 |
TTY
Toll-free: |
1-866-914-6097 |
For calls from the Ottawa area or |
613-947-7771 |
Fax
Toll-free: |
1-866-814-2224 |
For calls from the Ottawa area or |
613-941-1436 |
Financial Consumer Agency of Canada
427 Laurier Avenue West, 6th Floor
Ottawa ON K1R 1B9
If the Financial Consumer Agency of Canada is unable to put you in contact with the appropriate outlet, the police can be approached as well as your region’s
Better Business Bureau at http://www.ccbbb.ca/ . As well, you can contact your province’s Ministry of Government Services.
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