where's my missing $518 ? (resort charged twice, then refunded once, but exchange rate moved)

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Oct 14, 2015
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#1
recently paid USD$25,000 by credit card for payment for a group of us going to a resort in USA.

Received an email immediately from bank(credit card) saying USD$25,000 had been charged to card & amount in AUD$36,232 (AUD$1 = USD$0.69)

Three minutes later, received another email saying another USD$25,000 had been charged to same card.

Tried to contact resort by phone, but by this time, it was after hours & got voicemail, so I emailed them.

They sorted it out within 48 hours, but, as often happens the exchange rate had moved 1 cent, because of some announcement in China, so now the AUD$1 = USD$0.70) so the refund was AUD$35,714, a difference of AUD$518 (around USD$362)

(FYI - when China sneezes, Australia catches a cold - we export hundreds of millions of tonnes of iron ore, coal + gas, food etc to China every year & if any slowdown in China, it effects our dollar, but any +ve comments & our exchange rate improves as in above)

The resort said there had been a glitch with their credit card processing & refunded reasonably promptly.

Did I do this all wrong ?

Should I have called bank & cancelled the 2nd charge instead of trying to get a refund ?

(have rounded amounts & exchange rate for simplicity)

Have had similar things like this happen in the past, but rather than 2 charges, was an overcharge & amounts involved were small & not worth chasing.

Who do I complain to ? Bank in Australia ? Resort in USA ?
 
Aug 30, 2015
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#4
Since they almost always charge a commission on foreign exchange, you usually lose when a charge is made them refunded. I would ask the resort to compensate you, it was their mistake.
 
Oct 14, 2015
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#5
Since they almost always charge a commission on foreign exchange, you usually lose when a charge is made them refunded. I would ask the resort to compensate you, it was their mistake.
lately have been checking when paying overseas, if the exchange rate is very good & it is excellent with a no int fee mastercard (exactly the same as found on www.xe.com ) & no international transaction fees, but think that might be because of Australian banking rules. So if the refund had been done within minutes there would have been no difference, except maybe a dollar or 2.
 

johnbaker

Verified Member
Oct 2, 2014
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#6
@John Grier If it was me, I'd call your bank and file a chargeback. You won't get the cash out of the resort (from their perspective they gave you back what they accidentally took and the change in exchange rates isn't their issue). You might get something of value but I'm not sure what they could offer that would have an over $500 in value.