Issues › Money transfer, virtual currency, or money service
Who is complaining aboutIncorrect exchange rate?
When looking at complaint volume about a company or product, consider company size and/or market share. For example, companies with more customers may have more complaints than companies with fewer customers.
The CFPB does not verify every allegation in a complaint before publishing it.Consumer Financial Protection Bureau, Consumer Complaint Database. A complaint is a consumer's account of a problem; it is not a finding against the company.
19 complaints in the 12 months to 30 Sep 2026 carry the CFPB issue label “Incorrect exchange rate”, down 34% on the 29 of the 12 months before; 195 since 2014.
88.7% of them were filed under the product “Money transfer, virtual currency, or money service”, where the issue makes up 0.1% of that product's complaints.
Company responses on this issue: 81% closed with an explanation, 0.5% closed with non-monetary relief, 17.4% closed with monetary relief. 96.4% were timely.
Which products
| Product (CFPB label) | Complaints | Share |
|---|---|---|
| Money transfer, virtual currency, or money service | 173 | 88.7% |
| Other financial service | 22 | 11.3% |
Which companies, with their size
Ordered by the number of complaints carrying this issue since 2011.
| Company (as named by the CFPB) | Complaints, all years | Share | Company size |
|---|---|---|---|
| JPMORGAN CHASE & CO. | 25 | 12.8% | $4.09tn assets |
| BANK OF AMERICA, NATIONAL ASSOCIATION | 20 | 10.3% | $2.65tn assets |
| WESTERN UNION COMPANY, THE | 19 | 9.7% | no public measure |
| Paypal Holdings, Inc | 18 | 9.2% | no public measure |
| WELLS FARGO & COMPANY | 14 | 7.2% | $1.92tn assets |
| CITIBANK, N.A. | 11 | 5.6% | $1.98tn assets |
| PNC Bank N.A. | 6 | 3.1% | $610bn assets |
| U.S. BANCORP | 6 | 3.1% | $706bn assets |
| CAPITAL ONE FINANCIAL CORPORATION | 6 | 3.1% | $662bn assets |
| CITIZENS FINANCIAL GROUP, INC. | 6 | 3.1% | $233bn assets |
| HSBC NORTH AMERICA HOLDINGS INC. | 6 | 3.1% | $173bn assets |
| AMERICAN EXPRESS COMPANY | 4 | 2.1% | $214bn assets |
| TapTap Send Inc. | 3 | 1.5% | no public measure |
| MONEYGRAM PAYMENT SYSTEMS WORLDWIDE INC | 3 | 1.5% | no public measure |
| TransferWise Ltd | 2 | 1% | no public measure |
| HUNTINGTON NATIONAL BANK, THE | 2 | 1% | $283bn assets |
| Ria Envia, LLC | 2 | 1% | no public measure |
| TD BANK US HOLDING COMPANY | 2 | 1% | $375bn assets |
| KEYCORP | 2 | 1% | $189bn assets |
| Northern Trust Company, The | 2 | 1% | $179bn assets |
| BMO BANK NATIONAL ASSOCIATION | 1 | 0.5% | $255bn assets |
| BOK FINANCIAL CORP | 1 | 0.5% | $53bn assets |
| ALLY FINANCIAL INC. | 1 | 0.5% | $188bn assets |
| REGIONS FINANCIAL CORPORATION | 1 | 0.5% | $160bn assets |
| First Technology Federal Credit Union | 1 | 0.5% | $28bn assets |
| All other companies, including those not listed by name | 31 | 15.9% | — |
CFPB: “When looking at complaint volume about a company or product, consider company size and/or market share. For example, companies with more customers may have more complaints than companies with fewer customers.” The CFPB does not verify every allegation in a complaint before publishing it. 19 of the 25 companies in this table have a public size measure. “No public measure” means the company could not be matched by name to a single institution in the FDIC, NCUA or HMDA files, not that it is small.
How companies responded
- Closed with explanation158 · 81%
- Closed with monetary relief34 · 17.4%
- Closed with non-monetary relief1 · 0.5%
- Untimely response1 · 0.5%
- All other categories1 · 0.5%
| Measure | This issue | All issues |
|---|---|---|
| Closed with monetary or non-monetary relief | 17.9% | 31.6% |
| Closed with monetary relief | 17.4% | 0.5% |
| Responses marked timely | 96.4% | 99.6% |
Trend
Questions and answers
What does the CFPB issue “Incorrect exchange rate” mean?
It is one of the options a consumer selects on the CFPB complaint form to describe the problem. The label is the consumer's choice and is not checked by the Bureau.
How many complaints carry this issue?
19 in the 12 months to 30 Sep 2026 and 195 since 2014.
Which products does it apply to?
“Money transfer, virtual currency, or money service” (88.7%), “Other financial service” (11.3%).
Does the CFPB verify complaints?
The CFPB does not verify every allegation in a complaint before publishing it. Counts on this page show what consumers reported, not what was found.
Provenance
Source: Consumer Financial Protection Bureau, Consumer Complaint Database, bulk file downloaded 30 Sep 2026, complaints received through 30 Sep 2026. Only coded fields are used (company, product, sub-product, issue, state, dates, company response, timeliness); complaint narratives are never read, stored or shown. Complaints are published once the company responds or after 15 days, so the most recent two to three weeks are incomplete. Size measures: FDIC BankFind (report date 30 Jun 2026), NCUA call reports (30 Jun 2026), HMDA transmittal sheet (2025), Census Bureau population estimates (2025). All are US government works. Search the CFPB database · Methodology · Report an error.