Consumer complaint received 2024-06-12
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Wrong amount charged or received — 
Company: PNC Bank N.A. (TX)

I am a consultant for industrial clients located worldwide. One of my current clients is an XXXX company. The service contract specifies payment shall be paid in XXXX 

On XX/XX/2024 an original amount of XXXXXXXX XXXX was sent from my clients bank for payment of my professional service. 

On XX/XX/2024 I was assessed by my bank ( PNC Bank ) a {$15.00} US fee for an incoming international wire transfer. This complaint does not concern this {$15.00} US Service Fee. 

On XX/XX/2024 I noticed on my checking account ending in XXXX an amount received of {$31000.00} US The conversion rates observed on the market on XX/XX/2024 were : XXXX ( at XXXX XXXX for XXXX website ) XXXX ( at XXXX XXXX for XXXX website ) XXXX ( all day for XXXX website ) For simplicity, lets take the conversion rate from XXXX to US Dollars at XXXX for XX/XX/2024. 
Then the conversion of XXXXXXXX XXXX  should give {$32000.00} US. 
{$31000.00} US were deposited in my checking account ending on XXXX. 

Hence there is a difference of converted amount of {$1100.00} US between the amount after the conversion made by PNC Bank and the amount calculated with conversion rate observed on the market for that day. 

To my dismay, I could not find on my bank website the currency exchange rate between XXXX and US Dollars for this operation. 
I called customer service, and the employee was also unable to find this information. 
After some time searching online in the PNC Bank website to no avail, I went to a PNC Bank branch and, filed a complaint. 

I received an email from an employee of PNC Bank, named XXXX XXXX. The email reads that my complaint was received, and that I would be called in the coming days. 

During the 10 next days, I noticed 2 missed phone calls from this person. Trying my best, I called 11 times this person and each time left a message hoping to be called back. 

I finally decided to send an email to this person explaining my complaint and requesting answers about XXXXhe exchange rate used and the currency exchange commission charged by PNC Bank. This is now 8 days since I wrote this email and, as for today I received no answer. 

6 days ago, I was called by another person from PNC Bank, naming herself " XXXX XXXX '' and, whose only task was " to ask me if I already have contacted a lawyer ''. I declined to answer because she refused to identify herself further. 

While all this was happening, my client sent me another payment with an incoming international transfer in XXXX  An original amount of XXXXXXXX XXXX was sent on XX/XX/2024. 
A {$15.00} Service Fee charged on XX/XX/2024. 
An amount of {$31000.00} US appeared on my checking account on XX/XX/2024. 

So, to summarize roughly, I paid about {$2200.00} to receive {>= $1,000,000}. 

I have received multiple international transfers these last 10 years. I never paid more than {$200.00} in fees and commissions. I was also notified of the currency exchange rate used. 
Choosing PNC Bank was a mistake. There will not be anymore payment from my client in XXXX until I know for a certainty that I will not pay about 3.5 % of the amount transferred to receive in my bank account the fruit of my work.