Reuters

Millions of people use money-transfer services, like Western Union or MoneyGram or smaller competitors, to send cash in the United States or outside.

Now, if you use transfers and are unhappy about the service you received, you can turn to the federal government. The Consumer Financial Protection Bureau this month added money transfers — including international transfers, commonly known as “remittances” — to its list of financial services it is accepting complaints about.

Complaints may include instances in which money was not available when promised, cases in which the wrong amount was charged or received because of unexpected fees or taxes or incorrect exchange rates, other transaction problems or outright fraud or scams.

Money-transfer firms are largely regulated by states, but new financial rules have given the bureau oversight of the companies.

The agency has been studying whether money transfers can be used to help calculate credit scores for some consumers. Now, it is seeking consumer feedback about the services.

“Every complaint we receive helps us understand the challenges facing consumers, and they inform and shape our priorities,” Scott Pluta, the bureau’s assistant director for consumer response, wrote in a blog post on the bureau’s Web site.

To submit a complaint, go to the bureau’s Web site to fill out an electronic questionnaire.

To file a complaint, you’ll need the name and address of the sender and the recipient, the date of the transfer, a receipt or transaction number, the name of the transfer company or bank and the location where the transfer was sent, like the address of the store.

Have you ever encountered a problem when using a money-transfer service?

Article source: http://bucks.blogs.nytimes.com/2013/04/17/complaints-about-money-transfers/?partner=rss&emc=rss