XE trade gone wrong - need advice

rae1970

Through a processing error XE.com completed a trade I set up without having received payment from me. They say it was because they received a wire transfer from someone else with a name similar to mine for exactly the same amount I was supposed to send. I was going to let the trade lapse and pay the £100 charge (it's complicated), but now they're chasing me for the full £500 and won't give me three weeks to pay them after I get paid. The customer service agent on the phone said that that wasn't acceptable and said I had two weeks to pay them or they would send me some kind of scary letter (all the way from Canada, mind you).

As the processing error was their fault, can they get away with threatening me in this way?

gordikin

All is as clear as mud! Please explain what XE trade is for example?

rae1970

XE.com is a site where you can among other things send money overseas. I was intending to send £500 to the US, which shouldn't have happened until I paid the site via BACS or wire transfer. However, the company processed it anyway. Now they're chasing me for payment and won't allow me to pay them three weeks from now when I will be able to. They want the money in two weeks and say they won't budge. They are a Canadian company and I am based here in the UK.

gordikin

How did they get a hold of your bank details?