Consumer complaint received 2017-05-17
Company: Comerica
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Fraud or scam

Complaint:
I (   XXXX   XXXX   XXXX   XXXX    )  had a house in   XXXX    (   XXXX   XXXX   XXXX   ) j ointly owned with my  2 brothe rs, it was sold via property agent :   XXXX   XXXX   XXXX   XXXX     XXXX   XXXX   XXXX   XXXX   XXXX   XXXX   XXXX   XXXX  , CA  XXXX  Realtor XXXX  # :  XXXX  Mobile # :  XXXX  Email :  XXXX  XXXX  XXXX  The Escrow is :  XXXX   XXXX  Escrow  Manager    XXXX   XXXX     XXXX   XXXX   XXXX   XXXX   XXXX   XXXX   XXXX   XXXX  , CA  XXXX    XXXX   XXXX   XXXX   XXXX   Phone   XXXX   XXXX   XXXX   XXXX     XXXX   XXXX   Comerica Bank  XXXX   XXXX   ( The banker of the Escrow who wire the fund to me ) The selling of the house w as closed on  XX/XX/2017    and I was informed by Escrow via  XXXX   XXXX  on  XX/XX/2017    that the fund of  USD  XXXX  was wired to my bank account ( Email   XXXX   sent by  XXXX   with Es crows notice dated  XX/XX/2017    as attached ) The fund was wired through Comerica Bank  in   XXXX   XXXX   .       XXXX    XXXX   XXXX   advised me on  XX/XX/2017    that an amount of  XXXX  was credited to my bank account ( attachment :  XXXX   XXXX   ), I  didnt know what is the relation between  XXXX  and  XXXX  as I cant reach the amount with the market exchange rate. I sent email ask  XXXX  on  XX/XX/2017    and  XXXX  replied on  XX/XX/2017    said will check it ( attachment :   XXXX   XXXX   XXXX   )  XXXX   XXXX   XXXX  advised me again on  XX/XX/2017    that an amount of  XXXX  was credited to my bank account, I asked  XXXX   again with    XXXX  bank  advice ( atta chment :   XXXX   XXXX   and   XXXX   XXXX    )   XXXX   XXXX   ( E scrow  Manager ) replied on    XX/XX/2017    that the bank made error and not sending the full amount and   XXXX   wired  XXXX  on  XX/XX/2017     ( Friday ).   XXXX  attached the Wire Approval Notification date   XXXX     from Comerica Bank and also th e 2 Wi re Transaction Detail,  1st Outgo ing Money Transfer {$160000.00} and  2nd Outgoi ng Money Transfer {$3700.00} as per pdf files attached.      XXXX  replied in her email dated  XX/XX/2017    as below : Hi, I have researched this and found that when the rst  2 wir es were sent to  XXXX   XXXX , the amount I wired and the amount actually debited from our account was not the same. I called the bank to nd out why there was a dierence in what I had submitted for wire transfer and the actual amount wired, I was advised that the banks  International Traders,   attempted to save us money and obtained a better rate for transfer. I explained to the bank that this is not our companies money, it is our clients money and the full amount needs to be transferred. I submitted the remaining amount of {$3700.00} for transfer on Friday, at that point our bank did transfer the correct amount. I have attached the emails showing the amount requested to be wired and the proof of wire transfer which is dierent. I have also attached the proof of wire transfer for the  2nd wires for the r emaining balance.      XXXX  replied again on  XX/XX/2017    that Comerica Bank convert the  1st remitt ance into  XXXX  $ with exchange rate of  XXXX , this exchange is far below the normal exchange rate, about 4 % difference. I cant convert back the   XXXX   I received with this exchange unless  Comeria Bank  is willing to do it.     I sent email to  XXXX  &  XXXX  on   XXXX     and request them to ask Comerica Bank to reverse the  1st transa ction or compensate my loss of  XXXX , I only get the nonsense reply from  XXXX   .       XXXX   XXXX  in his email dated  XX/XX/2017    giving me some nonsense reasons and doesnt protect his clients interest. I know he has received his commission and it is no need to deal with me again.     The questions are  : ( 1 ) Why  Comerica Bank did not follow the instruction to wire the full amount of  XXXX  according to the Wire Approval Notification?    ( 2 ) Ac cording to the Wire Transaction Detail, it is an Outgong Money Transfer, Comerica Bank received the wiring fee and should Transfer the amount in  XXXX  according to the instruction.    ( 3 ) I t is very clear that Comerica Bank has made the error during the  1st wire  but  XXXX   ( Escrow Manager ) d idnt ask the bank to correct the error of converting the fund into  XXXX , she just said she has made t he 2nd wire  for the amount short in the  1st wire and  the Escrow has paid the full amount.    ( 4 ) 2nd wire was tran sferred and I received USD with just the wiring fee deducted, that means the  1st wire is  totally unacceptable as  XXXX  quoted that Comerica Banks  International Trader atte mpted to save money for Escrow.    ( 5 ) Comerica Bank must compensate my loss for the error they has made and your Bureau should punish them for doing it again.

Company response to consumer: Closed with explanation