Consumer complaint received 2018-02-18
Company: Deutsche Bank
State: NY
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Unexpected or other fees

Complaint:
In USA the transfer fees is {$15.00} This XXXX bank abuse the system and each month I pay 11 % or Euro XXXX and this is an abuse after colecting another Euro XXXX in XXXX So far the own me over Euro XXXX Deutsche Bank that now is involved in laundering money legal cases try to recuperate the penalties fees with massive transfer fees and very low excenge rate. My name is XXXX XXXX and since XX/XX/XXXX I am collecting my pension from a XXXX Company XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ; XXXX XXXX, XXXX XXXX XXXX XXXX XXXX ( XXXX ) My pension from XXXX is Euro XXXX. In XXXX there is collected a commission of Euro XXXX. Deutsche Bank XXXX transfer to NY Euro XXXX. Deutsche Bank will take in NY another commission of Euro XXXX so the amount received is only Euro XXXX. The rate used to exchange it in US is XXXXEuro = {>= $1,000,000} so for Euro XXXX I got {$270.00}. In XX/XX/XXXX the payment is very late and I can never count on it but there is an exchange rate of XXXX Euro = {$0.00} OR 26 % COMMISSION. For XX/XX/XXXX the real and official exchange rate was Euro XXXX = {$1.00}. The rate used by Deutsche Bank NY is Euro XXXX = {$0.00} and this is another abuse. Today XX/XX/XXXX the rate is Euro - {$1.00} and the rate used for my transfer after all fees taken is XXXX   Euro - {$0.00}!!!!!!! I consider that the abuses of Deutsche bank with no respect for the fact that operate inside USA. collects illegal In my situation Euro XXXX that is a lot of money taken from my pension. Now a commission of 26 % of my monthly payments of Euro XXXX taken by Deutsche Bank XXXX and Deutsche Bank USA!!!!!. If all banks in USA used only a flat fees of {$15.00} why Deutsche Bank NY is allow to abuse people from XXXX. When you call them they ignore you. When my banks called them they ignore them too. Deutsche Bank abuse inside USA the transfers to American People by charging 11 % commission for international transfer fees. Since they take a commission in XXXX of Euro XXXX and another one in USA. of Euro XXXX for each XXXX   International Transfer. In USA the legal transfer fees commission is {$15.00} for all Institution except for Deutsche Bank NY that collect 11 % commission which is illegal and abusive. What is interesting is the fact that the XXXX regulator XXXX has released a damming report into regulatory and compliance failures regarding benchmark rate rigging. Also it is not clear if this Abuse has anything to do with Deutsche Bank scaling back US operation???? Also is not clear if this is in retaliation to Department of Justice seeking a XXXX XXXX settlement amount that is bigger then Deutsche Bank market capitalization???? Lets take a transaction from XX/XX/XXXX and I will explain what is going on. XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXXXXXX : DEUTSCHE BANK XXXX, XXXX XXXX XXXX XXXX : XXXX XXXX , XXXX XXXX NY XXXX XXXX US*XXXX : XXXX/XXXX. XXXX USDXXXX : /XXXX/XXXX   IXXXXTIME:XXXXXXXX REF : XXXX REF :XXXX On the US {$290.00} and on top there is another {$15.00} and the left over amount is only {$270.00}. This extra commission of Euro XXXX started on XX/XX/XXXX.

Company response to consumer: Closed with explanation