r/Banking•
nyx__

Unexpected international wire intermediary charges - any recourse?

Advice

Hi there!

The situation: My mom did an two international wires from their bank in Cyprus to my bank in the US. Their bank allows for sending USD and acting as an intermediary, but my mom accidentally selected EUR instead. My bank has no intermediary and cannot accept euros.
One of these wires failed as expected. The second, however, succeeded, with some unknown bank acting as an intermediary and charging a really unfavorable exchange rate + additional fees (I'm out $1350).

I've asked my bank for more information about who the intermediary was and they've said they don't know, all they can see is the name of the bank in Cyprus. My mom has a meeting at her bank branch on Tuesday, but I wanted to get ahead of things to arm her with as much info as possible because she's elderly and doesn't completely understand the process and what might have happened.

Do I or her have any recourse here? Surely the money shouldn't have been silently converted along the way without her permission?

Is there any EU legislation to prevent this sort of thing?

Any suggestions or advice is welcome. Thank you!

Posted Jun 14, 2025, 8:58 PM UTC

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