Consumer complaint received 2024-02-15 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Other transaction problem — 
Company: WorldRemit Corp.
State: AZ

Complaint narrative:
This week the requests I received from WorldRemit and the somewhat " XXXX '' position they put me in as they requested my privacy-protected information appears to be illegal and a violation of U.S. Constitutional rights of residents of the USA as well as a likely a violation of federal and state financial regulations. 

Monday, XX/XX/2024 : I sent {$2500.00} through WorldRemit to a resident of XXXX. As a result, WorldRemit initiated the international money transfer and the payment was charged to my personal checking account. WorldRemit simultaneously notified me via email that the transfer was created in their system for transmission. 

On the same day, WorldRemit sent me an email indicating that my transactions will be held unless I provided some information. This information included my employer and title, the reason for sending my WorldRemit transactions and my relationship of each of my beneficiaries, and my intended use of WorldRemit in the next 12 months. That information appears to make sense to me. I provided that information including the fact that my wife and I own farming businesses with contracts with organizations like the government of XXXX XXXX XXXX, the XXXX XXXX XXXX  XXXX, and XXXX XXXX. For my beneficiaries, here 's an example of what I listed for each beneficiary. 
" Family Support : Mom : XXXX XXXX '' " Family Support/Funeral : Cousin : XXXX XXXX '' It did seem redundant to send this information because the WorldRemit system every time asks me to submit a reason for each of the transaction. Their system would have the information. Nonetheless, I provided it anyway. 

However, they also asked for " a full copy of your most recent bank statements '' that shows, among other things, " deposits on the account '' which I used for my WorldRemit transfers. In addition, they asked for " an explanation of the deposits on the bank statement ( proof of deposits may be required ). '' I couldn't imagine why they need all that information and what law in the USA or XXXX gave them such a sweeping right to request such information into a citizen 's privacy. 

Therefore, before WorldRemit provided more clarification on this request, I refused to provide them my bank statements and " explanation '' of ALL my deposits. I asked them to provide me an explanation of the specific laws and regulations that provide them a basis for such an overreach into my personal finances. In addition, I asked for them to share where in their company policy documents it states they would ask for a customer 's bank statements and explanations of ALL the deposits on the customer 's bank statements. I did inform them that this appears illegal to me. 

As of this moment, WorldRemit has declined to process my refund and cancel my transaction citing a need for this additional information. They have not responded to my email with my request for an explanation on the legal basis of their request. I sent that email on Tuesday, XX/XX/2024. As a result, I gave them a full 48 hours after I sent my email for WorldRemit to respond and disappointingly WorldRemit has not yet responded at all. 

Thank you for your consideration and your assistance in this matter!

Company response to consumer: Closed with explanation