Consumer complaint received 2023-05-04
Product: Money transfer, virtual currency, or money service — Foreign currency exchange
Issue: Confusing or missing disclosures — 
Company: BANK OF NEW YORK MELLON CORPORATION, THE ()

INFORMATION LETTER regarding the return of funds on an unexecuted money transfer. 

On XXXX, we, XXXX XXXX XXXX XXXX XXXX ( hereinafter referred to as the Payer ), sent to XXXX XXXX XXXX XXXX XXXX XXXX ( hereinafter XXXX XXXX XXXX ) a payment order bank transfer request XXXX dated XXXX XXXX, XXXX to transfer the funds in the amount of USD XXXX from Payer 's account XXXX to the recipient XXXX XXXX XXXX and XXXXXXXX XXXX XXXX  XXXX to the XXXX XXXX XXXX and XXXXXXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX 

According to the information provided by XXXX XXXX XXXX, this payment order was transmitted for execution to your intermediary bank, The Bank of New York Mellon ( BONY ), which is the principal dollar correspondent bank of XXXX XXXX XXXX and our funds were transferred to your ( BONY ) account. 

On XXXX XXXX, XXXX, your bank The Bank of New York Mellon ( BONY ) sent a request to XXXX XXXX XXXX  for providing additional details about the Payer, and the said details were provided in full on XXXX XXXX, XXXX, by XXXX XXXX XXXX to your BONY Bank via the SWIFT system. Despite the provision of the requested information, the payment has remained in your BONY Bank. No further messages were received from your BONY Bank. 

On XXXX XXXX, XXXX XXXX XXXX XXXX reported on its inclusion in the U.S. sanctions lists. 

Since our money did not reach the recipient, we decided to cancel the money transfer operation and demanded the return of our funds from XXXX XXXXXXXX XXXX 

According to the response of XXXX XXXXXXXX XXXX  dated XXXX XXXX, XXXX and the response of BONY, your bank The Bank of New York Mellon ( BONY ) is still keeping hold of our funds in the amount of XXXX intended for the recipient XXXX XXXX XXXX and XXXXXXXX XXXXXXXX XXXX  XXXX to the XXXX XXXX XXXXXXXX and XXXXXXXX XXXX XXXX  XXXX XXXX XXXX XXXX XXXX 

No responses to the further requests from XXXX XXXXXXXX XXXX to your BONY Bank have been reported. 

Please note that we ( the Payer ) are not included in the U.S. sanctions lists, there are no special related requirements or restrictions stipulated by the laws of any country, including the U.S. We have not committed any illegal actions ; with the above payment order we have paid for goods, the circulation of which is not restricted or prohibited. Our transactions were also in compliance with legal requirements. The XXXX XXXX XXXX  has provided you with detailed related information. 

We are understanding about the situation, and in this regard we kindly ask you to return to us ( XXXX XXXX ) our funds in the amount of USD XXXX by transferring the amount to our bank account at XXXX XXXXXXXX XXXX  or , if necessary, at another bank that is not included in the sanctions list. 

The failure to get our money funds back shall have a negative impact on the company and ordinary public, as we can not provide them with necessary items of goods because of lack of funds for purchasing thereof. 

Taking into consideration standards of international law, we as the legal owner of the said funds in the amount of USD XXXX have decided to refuse to transfer the funds to the recipient and return the said amount to us, and therefore WE HEREBY REQUEST : To return to us XXXX XXXX XXXX XXXX money funds in the amount of USD XXXX transferred from the account XXXX under the bank transfer request XXXX dated XXXX XXXX, XXXX and intended for the recipient - XXXX  XXXX XXXX and XXXXXXXX XXXX XXXX XXXX to the XXXX XXXX XXXXXXXX and XXXX XXXX  XXXX XXXX XXXX XXXX XXXX XXXX 
The specified funds should be returned either to the bank account of XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX or to an account in another XXXX XXXX XXXX XXXXXXXX XXXX as may be agreed with us. 

Please do not hesitate to contact us by email : XXXX, and by phone : XXXX ( XXXX ) XXXX, XXXX. 
On XXXX, we, XXXX XXXX XXXX XXXX XXXX XXXX to the adress your bank The Bank of New York Mellon ( BONY ) sent to XXXX XXXX XXXX XXXX XXXX XXXX LETTER to return transfer the funds in the amount of USD XXXX from Payer 's account XXXX a payment order bank transfer request XXXX dated XXXX XXXX, XXXX to the recipient XXXX XXXX XXXX and XXXXXXXX XXXX XXXX  XXXX to the XXXX XXXX XXXX and XXXXXXXX XXXX  XXXX XXXX XXXX XXXX XXXX XXXX 
To date, no response has been received to this letter ( on XX/XX/XXXX ), in this connection, please inform, when will you be able to transfer the specified money to XXXX XXXX XXXX XXXX XXXX XXXX : XXXX. Bank transfer request XXXX. 
XXXX. SWIFT message ( attachment to Bank transfer request 3 ) XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX with The Bank of New York Mellon ( BONY ) THE BANK DOES NOT RESPOND TO OUR MESSAGES!!!! HELP US TO RETURN OUR MONEY, PLEASE!!! 
Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX