What happens after I complain to a remittance transfer provider about a problem with an international money transfer?
Under federal law, a remittance transfer provider has 90 days to investigate an error, and is required to notify you of the investigation’s results.
The company is responsible for correcting certain mistakes. These include:
- Payment of the wrong amount
- Mathematic or bookkeeping errors
- Failure to deliver the proper amount of money
- Failure to deliver funds on time
- Failure to deliver funds to the right person
- Failure to deliver the funds at all
If one of these types of errors did occur, you may be allowed to choose between a refund or having the funds resent to the recipient.
If the error occurred because you gave the provider incorrect information – by giving wrong account information, for example – then the company may not be required to refund or resend the money.
You may also have the right to receive copies of documentation relating to your money transfer.
These requirements do not apply to every company that sends money internationally. But other protections may be available to you, depending on how you send the money and the laws in your state. Contact your state attorney general or state financial regulator for more about your state’s laws.