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THE CHANGE GROUP NEWYORK INC

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THE CHANGE GROUP NEWYORK INC Reviews (9)

on 10/**/my friend used "the change group" to exchange euros for US dollarsInstead of using the dollars per euro rate ($1.10) they used the euro per dollar rate ($.9513)Therefore instead of getting approximately $he got $To add insult to injury they then deducted another 14.94% service fee plus an additional $charge leaving him with just $After reviewing the result of the transaction he immediately demanded his money back but the teller refusedReading other patron's reviews of this business it is clear that this is common practice against unsuspecting visitors to our country

*** ***, Thank You for choosing The Change Group to exchange your foreign currencyI understand that an employee would not give you your money back per your request after you found out
about the commission feeI empathize with your feelings as I understand that when you wanted your money back, you did not receive it and it’s frustratingOur company policy states and all staff have been trained to ensure if a customer is unhappy for whatever reason to get manager approval to renegotiate or cancel the deal and refund customer moneyI apologize for the inconvenience and experience this has caused you and would like to make it rightAll corporate/local transactions are eligible for a no fee transaction on either buy or sell and we would like to extend that deal out to youI thank you for your feedback givenPlease do not hesitate to contact The ChangeGroup directly on any future business transactions that may have an issuePlease note you will have you all fees charged will be returned back to youPlease email me the receipt of transaction, so I can go forward in calculating amount of money which should be refunded to youThank you once again

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me and the matter has been resolved The receipt dated 1/**/shows the total amount that I paid when I purchased the Chinese Yuan The receipt dated 4/*/shows my refund which is significantly less
Sincerely,
*** ***

Hello [redacted]
[redacted]
Per our conversation on Friday,...

we have resolved the issue with the customer as he came back in we refunded the service fees, he was unhappy with. Though he had sent a compliant to Revdex.com, he had also emailed us and we were working on resolving the problem. 
 
I have attached a copy of the acknowledgement letter he signed, confirming we waived our fees and gave him the difference back. He was at our branch on Friday at 6:30pm. 
 
 
[redacted]
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Revdex.com:
I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:
I would like to state the [redacted] has not been truthful in his response to my complaint.
He states that I asked his employees for their personal cell phone numbers...
I have the cell phone numbers of 3 employees...and all 3 were given to me VOLUNTARILY by those employees, at no time did I EVER ask any employee for their cell phone numbers! Perhaps [redacted] should ask his employees WHY they gave me their cell phone numbers?
Could it be because he never responded to my calls or emails in a timely manner?
His employees actually APOLOGIZED to me several times for his lack of response to me...
Also, I have the business cards and/or receipts where the said employees voluntarily wrote down their cell phone numbers...
As far as calling employees at home and harassing them, I NEVER did that; the ONLY times I called or text employees on their cell phones was AFTER I called the store FIRST, and was advised MANY TIMES to do so...
 
As far as [redacted]'s claim that they NEVER overcharged me, I have receipts that can document several times when I was charged excessive fees on small trades...
I have several other vendors and they ALL charge me ONE FLAT FEE for my transaction!
A for the custore service provided by [redacted], I stand by my rating of very poor, in fact clearly stated he was NO LONGER DOING BUSINESS WITH ME...
HOWEVER, in his response he states something very different...
In closing, I will not be satisfied until [redacted] is truthful and admits the problems within the Change Group and takes corrective action to ensure these problems do not happen to any one else...and perhaps he should begin by being more transparent and truthful in his response to customer complaints...
 
 
  
In order for the Revdex.com to appropriately process your response, you MUST answer the question above.
Sincerely,
[redacted]

The Change Group received the above-referenced customer complaint and appreciates the opportunity to respond. We have had business relations with [redacted] for several years and have assisted him with his specific requests until recently. In the past, [redacted] would send us a list of...

exotic, rare, or new notes he wanted for his collection. We would devote time to locate what he is asking for and set it aside for him to pick up. We also are not charging his the service fees that normal customers pay. Under normal procedure, we charge $7.95 per currency we are selling, but for [redacted] we have waived the fee as a courtesy to him. With respect to being “overcharged”, this is not accurate. In certain situations, some consultants charged him as they are not aware of our relationship with [redacted], but the charges were still in line with our prices on display in our office.[redacted]’s assertion of poor customer service it is misguided. He has been given the points of contact for the company who he needs to contact for his requests. He has chosen on his own to not use the appropriate channels for the service he is requesting. He should not be asking our union-represented sales consultants for their personal cell phone numbers to contact them at home. This is also not their job requirement to personally respond to his business demands via their personal cell phone lines outside of business hours.The majority of his request we don’t carry, however this leads to him becoming demanding. He is very persistent about getting his desired currencies which then results in staff complaints of feelings of harassment. Staff members have also complained about feelings of being harassed and threatened when his requests cannot be met when he comes into the branch. Here is a text message which was sent to one of our salespeople (emphasis his): “I am going to give you guys another chance to prove yourself and make things right with me… I would like to make it VERY CLEAR that if I have another experience like in the past, I GUARANTEE you that I will end my business relationship with Change Group…no exceptions or excuses!”As a company, we take care of the rights and privacy of our staff. Again, [redacted] knows the appropriate business contacts information such as the business email and business phone number regarding currency requests, but refuses to follow the procedure and continues to contact staff via non-business phone lines.The Change Group strives the best in delivering excellent service not just for [redacted] but for everyone. We are not turning away his business, but we are no longer doing favors for him because of his actions. [redacted] is still able to visit our locations and able to still buy currency just anyone else and will receive the same service our other customers receive.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
[redacted]

Review: My wife went to the Change Group Location at 2 Times Square on 01/**/14 to exchange 450,000 Korean Won to U.S. Dollars. When she met the teller at the Change Group, the teller informed her that there would be a service fee of 14.95%. At no time did my wife see or was she informed of the exchange rate from KRW to USD. The exchange rate that the Change Group offered was in fact 1321.51 KRW to 1 USD. When she reviewed her exchange after leaving the location, she wondered why they had ended up taking so much of her money (what amounted to about a third of the total). The highest exchange rate that she could find offered by banks was 1090 Won per 1 U.S. Dollar. She assumed that most reputable financial services offered similar exchange rates, and she assumed that the Change Group was one such reputable service.

When I spoke to tellers on the phone (I was not able to reach a manager), I was informed that the service fee is separate from the inflated exchange rate, and that the exchange rate is higher because it is a service offered to consumers. There is no explanation of why there is BOTH a service fee which is a set percentage AND a higher than normal exchange rate. Based on other online reviews of this company, it seems that many visitors to New York City are similarly shocked by how much money they lose simply to change one currency to another. I wrote an e-mail to the Change Group and recently received a reply:

"Thank you for choosing The Change Group New York for your currency needs. All of our branches are located in the most expensive streets. Our branches are open 7 days per week and operate longer hours than the banks for the convenience of our customer to change money and providing them consistently with high standard of customer service. The rates and service fee are clearly posted on the board so the customer is not misinformed.

"We apologize for the inconvenience that it causes you. If there’s anything that we can do for you please let us know."

So, I have requested that my wife get her Korean Won back in return for the Dollars she was given, minus the service fee. She is willing to give up the 14.95% service fee if she can. She just feels that she was misinformed about the exchange rate.Desired Settlement: I have requested that my wife get her Korean Won back in return for the Dollars she was given, minus the service fee. She is willing to give up the 14.95% service fee if she can. She just feels that she was misinformed about the exchange rate.

Business

Response:

Hello [redacted]

Per our conversation on Friday, we have resolved the issue with the customer as he came back in we refunded the service fees, he was unhappy with. Though he had sent a compliant to Revdex.com, he had also emailed us and we were working on resolving the problem.

I have attached a copy of the acknowledgement letter he signed, confirming we waived our fees and gave him the difference back. He was at our branch on Friday at 6:30pm.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

Review: I went to change Chinese Yuan and they charged the highest service fee I have ever seen (14.95% Service Fee). I asked them to give me my money back and they said sorry to late we completed the transaction

This is the Biggest RIP OFF EVER. Please let the public knowl; Do not go here....go to [redacted] they are much better and reputable.Desired Settlement: Want them to charge me a fair service fee of 5% or less or give me my Yuan back and I will give them back the USD they gave me. I have the receipt.

Business

Response:

[redacted], Thank You for choosing The Change Group to exchange your foreign currency. I understand that an employee would not give you your money back per your request after you found out about the commission fee. I empathize with your feelings as I understand that when you wanted your money back, you did not receive it and it’s frustrating. Our company policy states and all staff have been trained to ensure if a customer is unhappy for whatever reason to get manager approval to renegotiate or cancel the deal and refund customer money. I apologize for the inconvenience and experience this has caused you and would like to make it right. All corporate/local transactions are eligible for a no fee transaction on either buy or sell and we would like to extend that deal out to you. I thank you for your feedback given. Please do not hesitate to contact The ChangeGroup directly on any future business transactions that may have an issue. Please note you will have you all fees charged will be returned back to you. Please email me the receipt of transaction, so I can go forward in calculating amount of money which should be refunded to you. Thank you once again.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved. The receipt dated 1/**/15 shows the total amount that I paid when I purchased the Chinese Yuan. The receipt dated 4/*/15 shows my refund which is significantly less.

Sincerely,

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Description: MONEY ORDERS & TRANSFERS

Address: 1568 BROADWAY NEW YORK, New York, New York, United States, 10019

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