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Refund currency

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  • 30-11-2014 2:29pm
    #1
    GabbyJay
    Registered Users Posts: 49 ✭


    If I make a payment to a European company, they have a presence both in France and in USA. They accept payment either by USD or by EUR. I make the payment by USD.

    They realise they over charge, and need to refund part of the payment. But they say the refund can only by bank transfer and in EUR. I don't have an EUR account, it is awkward for me to receive the payment (I don't even know how I can do it) and I will lose on the currency fluctuation (this is 3 months after payment).

    Are they allowed to do this, or are they required to make the refund in the same currency?


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    #2
    johnmurph01
    Registered Users Posts: 58 ✭✭johnmurph01


    GabbyJay wrote: »
    If I make a payment to a European company, they have a presence both in France and in USA. They accept payment either by USD or by EUR. I make the payment by USD.

    They realise they over charge, and need to refund part of the payment. But they say the refund can only by bank transfer and in EUR. I don't have an EUR account, it is awkward for me to receive the payment (I don't even know how I can do it) and I will lose on the currency fluctuation (this is 3 months after payment).

    Are they allowed to do this, or are they required to make the refund in the same currency?

    Different countries - hard to regulate. Depends as well on nature of company (financial services or std bricks/motar company selling widgets). You might find that a tough one. Could you use currencyfair here I wonder or ask them to?


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    #3
    keithclancy
    Registered Users Posts: 9,208 ✭✭✭keithclancy


    GabbyJay wrote: »
    If I make a payment to a European company, they have a presence both in France and in USA. They accept payment either by USD or by EUR. I make the payment by USD.

    They realise they over charge, and need to refund part of the payment. But they say the refund can only by bank transfer and in EUR. I don't have an EUR account, it is awkward for me to receive the payment (I don't even know how I can do it) and I will lose on the currency fluctuation (this is 3 months after payment).

    Are they allowed to do this, or are they required to make the refund in the same currency?

    What was your method of payment.

    If it was a Credit Card they can refund the card.
    If it was bank transfer they can refund via Bank.
    If it was paypal then they can put it on your USD Paypal account.

    Basically whatever method you paid with, its usually possible to put it back on that way.


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