My client transferred USD from the US to my USD currency account in Ireland. Their intermediary bank converted the funds to Euros so it hit my USD account in Euro, was converted back to USD by my bank and I lost $450.

My client's invoice was issued in USD and it clearly stated that my account was a USD currency account.

My bank says it’s not their problem. It happened again today with another transaction and I lost another $200. I had asked the client to make sure their intermediary bank didn’t convert mid transaction. Who should take responsibility?

1 Answer 1


The client should lead on this, because they never paid their bill. They transferred you a number of Euros that was not sufficient to cover the bill (because their bank converted with some spread).

The source bank should end up paying for this mistake if they were told to transfer USD, but your client should do the legwork as they were responsible for delivering a certain number of US dollars to you and did not do so. In the end your client may need to pay some foreign transaction fees, even if not conversion fees, to get USD in the USA to USD in Ireland.

If your client eventually sends you an amount of Euro equivalent to the bill, you might pay your own bank's fee as a goodwill gesture to your client. But you aren't responsible for what their bank deducted.

  • +1. The contract might also have provisions for such issues.
    – Lawrence
    Dec 21, 2018 at 7:51

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