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Exchange rate difference on refund?

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  • Exchange rate difference on refund?

    We are US based and a donor from Canada recently made a $500 donation and asked us to credit this transaction. We credited the transaction and she wrote back saying she was charged $698.12 (Canadian dollars) originally but only received $662.66 (Canadian dollars) in her credit. We just want to check and make sure this is correct as we've never done an international refund before.

    thanks!

  • #2
    franharrington

    The challenge is what credit card companies use as Exchange Rate. This is nothing we can possibly control, as I am sure you see the issue.

    When a donor donates in a different currency, the credit card companies do the conversion and settle in the currency the account is set with. The only amount you can possibly reverse is what the credit card company has deposited in your account. So there is a conversion and fee that they charge for converting to US$ and then when you issue credit their credit card company charges for converting US$ to C$.

    This happened to us when we ordered something from a EU company and then was refunded the money due to availability. It was amazing how much money was lost in just back and forth payment and refund.

    Sorry for your trouble and that of your donor. If we can help let us know but perhaps the card holder can contact their credit card company and ask why the refund was deposited as a different amount given you have credited the full amount.
    Regards,
    Click & Pledge Support Department

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    • #3
      That makes sense. Thank you for the explanation!

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