Different exchange rate on Refund

[Toad2]

Not sure what to do about this.

On the cruise two weeks ago, we requested that the four adult members of our party each have their OWN credit card assigned to their Key to the World Card. They took all the documentation and we thought all was well. On the night before de-barkation I checked with guest services and found that they had put ALL the charges on my credit card! Yikes!! The CM said she had just sent the charges through my VISA but could not send through the refund until after 2am (not sure about why it had to be after 2am but said OK). She did it and the next day we got 4 invoices with all our charges correctly allocated.

Here is the problem......I just got my credit card bill. The exchange rate on the original charge and the credit were different by 7 cents. When the exchange was completed, I was charged in Canadian funds $700.34 but only credited $672.67.

I realize the difference is only $27, but I didn't make the mistake, DCL did and I am being penalized because the exchange rate differed over the two days. I called Disney this afternoon and the CM I spoke with suggested that the problem was with the Canadian exchange rate and as they only deal in US funds, they did give me a US credit equivalent to the US charge.

I am frustrated by this answer. What would anyone suggest?

 

[grover]

Back when I just could not make my mind up about a resort I made a ressie-paid deposit on visa and then cancelled several weeks later-the exchange was different so I got back less than I paid-at the time I just thought perhaps the exchange rate had varied-but mabey not-any one else have any info on this?

Grover in Winnipeg

 

[CdnDisneyNut]

I think it was just the difference in the US exchannge rate between the two days. Would you be upset if youre credit on your credit card was more than the debit because of the exchange rate. Would you be willing to give back Disney (or whomever) the extra $27

 

[Limmer]

I think this has to do with your credit card company. I would find out the exchange rates for those days from the bank and then call your credit card company. That sounds like a pretty big jump from one day to the next. I believe Disney is correct though, they have no power over the exchange rate. As long as they credited the same in US funds as they charged, it really has nothing to do with them.

 

[disneyvacationmom]

This happened to me once. It was a mistake made by the front desk-they put my room on Visa when I wanted to pay cash. They credited my Visa and the exchange rate had changed. I called them and they fixed the problem right away. Try a phone call-I was pleased with their quick response.

 

[bunnyfoo]

Its happened in the opposite way for me before ... I paid for something and then asked for a refund, except the refund was made at a higher exchange rate. I think that is something that you'll have to speak to the credit card company about unfortunately because they are the ones that set the exchange rate.

Its too bad that Disney isn't willing to compensate you in some small way. After all, you wouldn't have been charged if they hadn't made the mistake in the first place. Maybe try speaking with a manager ... Do you have your request in writing? If so, send them a copy and explain the situation.

 

[cottontail]

Hi:

This has happened to me booking a new reservation and cancelling another in the same conversation and I lost almost 15.00.

I called visa and was told that they give a different rate when we are getting money back than when we are spending in us dollars. It sounds crazy to me, so I had to be real careful about booking hotels after that,

Deb.

 

[Scratch42]

This happened to me last year when I rented a car from Alamo, I told them that I will pay cash for the State Tax, etc., when I return the car. The girl put the charge thru. Alamo credited my card when I returned the car but when I returned home and got my statement, I owed 10 cents.

I called the card company and they told me that they use the current exchange rate of when they receive the paperwork not the day the transaction took place. In our case it's a hit or miss depending on what the Canuck Dollar is doing.

Call the credit card company and see what they say.

Good Luck!

Scratch

 

[minnie56]

Last Christmas my daughter and I 'splurged' at the Spa in the Grand Floridian to the tune of almost $400...
When my Visa bill arrived I had been billed twice! OUCH!
So, I called the Spa, explained the problem and they asked me to send a copy of my Visa statement with 2 billings, which I did.

They reversed the second billing but as exchange rates fluctuate all day long (And by the way...never, never, never in the Customer's favour...that from a bank employee!!) I was credited approximately $10.00 less. However, having already placed one long distance call to bring the problem to their attention I wrote it off, not wanting the additional expense.

That does not however, make it right! I would certainly insist they cover your loss.

 

[Timon]

Most credit card companies have two different exchange rates. One for a credit and one for a debit. So, be forewarned, if you put a deposit or purchase something in US dollars and then you return it or you get your deposit back, it will never be the same value that you started with.

It is the same as with most banks when you exchange money. If you BUY US dollars, the rate is (for example only) 1.58, so you need $158 CDN dollars to get $100 US. But when you SELL your US cash, it will be 1.49, so for every $100 US you sell, you will get $149 CDN back. SO with the SAME $100 US, it cost you $158 to buy it but when you sell it back, they only give you $149 for it.

So, be careful with what you purchase in US $$$!!!

 

[calgarygary]

Timon is quite correct. The main difference of the $27 will be in what a bank sells U.S. dollars at vs. what they buy U.S. dollars at. Armed with this information, Toad2, you should write Disney including a copy of the invoice from both your cruise and your credit card. A letter that is positive where it can be, but firm about the action you would like the company to take will have the best results.

Gary

 

[Toad2]

Thanks for everyone's responses.

Believe it or not, if I had received more and the adjustment went the other way in my favour, then yes I definately would make financial amends to the bank/credit card company. Because I was raised to do the right thing. There are lots of us out there. I do not take what is not mine.

That being said, I have called the bank and received the same responses. I don't expect them to give me an exchange credit.

The bigger issue is that Disney charged me in ERROR . I don't care if it was for one dollar or the $492 (US) that it was. I have all the documentation, as do they, that our four credit cards should have been accounted for on the original bill. They made the error and knew it in as much as the CM said "oh look at that (as she looked at her computer), you're right. I'll fix that up for you right now". Which she did. But I STILL am out $27.

I'll prepare a written communication to Disney (the phone call got me nowhere), and I'll post again with the results.

Thanks again for allowing me to vent and your responses. It is interesting how many of us get caught by this.

 

[rcomputer]

This has happened to me many times - the retailer deals only in a single currency. This is nothing to do with Disney - the differential interest rates are with the credit card company and it entirely their responsibility to refund the difference. My CC companty have resolved this issue many times - just requires a call.

 

[Susan--Ontario]

I had this happen just last year. We were purchasing our renewals on our AP's and she did it twice. She credited my card within 5 minutes of the mistake. Sure enough when I got my statement the difference was around $35.00?? I called Visa and they told me that the rates for buying and selling (charges or credits) were different. She credited my account and told me that it was a one time thing and that they would never do it again. I was furious. I called back and the supervisor told me that the agent was mistaken and that of course they would fix it again because it wasn't my fault. Call the bank. I don't think that Disney will do anything because at the end of the day they get or receive the same amount in their bank account. Btw my Visa card was with TD.

 

[calgarygary]

I still think it is of value to contact Disney. Their CM made the error, and it is that error that has caused your problem. Although Disney may not make the financial correction to you, a well written complaint letter can assist Disney in correcting their problems. Also, the Disney response in writing, will demonstrate what value they place upon you as a consumer.

Gary

 

[CdnDisneyNut]

I think it might be just the way your bank credit card processes their credits. A year ago in May (2001) I had made a reservation in New Oreleans and two weeks later I had to cancel the reservation. I just checked my old credit card statements and there was only a ½ cent difference between them. The sale was processed @ 1.580894 and the credit @ 1.57500