Consumer complaint received 2025-05-30 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Wrong amount charged or received — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION

Complaint narrative:
Tried to send the following email to Bank Of America but the email I've got is not in function anymore. Everything is explained in the email below. Email I've used XXXX Subject : Formal Complaint Unauthorized Currency Conversion on International Wire Transfers Dear Bank of America Executive Relations Team, I am writing to formally raise a serious concern regarding multiple international wire transfers initiated from my account ending in XXXX ( XXXX XXXX XXXX ). 

Despite explicitly selecting USD as the sending currency in every transaction this year, the funds have been repeatedly converted to XXXX, applying a significantly unfavorable exchange rate. 

In each case, I clearly instructed that the funds be sent in USD and accepted the {$45.00} international wire fee. Yet, not only was the money converted to XXXX, but the fee was also not charged, which further suggests that the transfer was processed differently than instructed. 
I am attaching one of my recent statements, which clearly shows the funds being transferred in XXXX  instead of USD, directly contradicting my instructions. This practice has caused significant financial loss XXXX just this year due to unauthorized conversions.

I have contacted your support team on numerous occasions without receiving a clear explanation. Most recently ( XXXX, XX/XX/XXXX ), I called four times in one day, spoke with four different associates, and received conflicting answers. One representative claimed the conversion was performed by an intermediary bank and out of Bank of Americas control. However, after confirming with the receiving bank XXXX XXXX  in XXXX I was informed that Bank of America has a direct relationship with them, eliminating the need for any intermediary bank. 

Moreover, support over the phone has become increasingly frustrating long hold times often end with dropped calls, making it nearly impossible to resolve this issue through standard customer service channels. 

I also want to emphasize that the receiving account is fully capable of accepting USD, so forced conversion is unjustified. 
As background : I operate XXXX XXXX XXXX, a U.S.-registered business, and regularly send payments to XXXX XXXX XXXX., XXXX XXXX company based in XXXX. These transfers must be received in USD, as the funds are used to pay suppliers in the same currency. 

I respectfully request the following : - A formal explanation as to why these currency conversions occurred despite my repeated instructions to send USD. 

- A refund or adjustment to compensate for the financial loss caused by unauthorized exchange rates. 

- Written assurance that all future wire transfers from my account will be processed in USD, exactly as ordered. 

Please treat this as a formal complaint and advise on the next steps, including escalation procedures if necessary. I expect a timely and thorough response. 

Sincerely, XXXX XXXX XXXX XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief