CRT overcharge cost me $$ on my VISA!

[pjpoohbear]

The refund is generated in american currency. Disney is an american company, and does not have to account for a currency exchange between it's vendors (visa) and it's customers.

IMHO - you paid $50 american, and were refunded $50 american (dont know your amounts). Disney has no part of the currency exchange situation.

IMHO - VISA does not owe anything as well. It's an international market and rates fluctuate every day or even hour some times. Just part of doing biz abvroad.

Problem with that statement is ..... that is was not a refund, but should have been processed as a purchase correction. Disney processed the correction in an improper manner. There should not have been a refund for this mistake, but a void of the entire transaction. The customer should never have seen any lines posted on their statement at all.

This has nothing to do with exchange rates or fees, it has to do with proper voiding procedures as per the merchant.

The merchant made a mistake and the customer is now paying extra on their balance because of it. There are procedures set up by Visa/Amex/ MC for what happened here, and disney did not follow those procedures.

 

[pjpoohbear]

Example....I was in toronto this summer. I exchanged $500 american for like $590 in canadien (like 18% dont remember exchange rate) Wen I left the exchange rate was only like 15%, so I lost money. No big deal...just part of the forun exchange market.

This has to do with the cost of buying and selling of hard currency at an exchange centre. You will always pay more to buy money and will get less back when you sell it back, that is how currency exchange businesses make their money.

The OP's issue with disney is about CC procedures. The OP is not upset because she missed out on some $ due to a refund, but that Disney charged her when they should not have and then processed the correction improperly costing her money. Disney needs to correct the processing errors in their method of fixing these type of mistakes.

 

[Tiger926]

Thanks PjPoohbear for all of your great info - you know your stuff!

Again, this shouldn't have been processed as a refund but a voided transaction as mentioned by Pj and VISA. Obviously I know that Disney doesn't control the exchange rates, but they do control how they process debits and credits, and that is where the issue lies. It doesn't matter that it was for a small amount - millions of small amounts adds up to lots of extra costs to customers.

Never had the opposite happen, but I did ask VISA about it as I am a very honest and ethical person, and she said that in that case VISA lets it go - don't worry, I am just as honest and fair if the opposite situation were to happen. In fact, I've made mistakes in online ordering, shipping before and offered to pay each and everytime and those merchants didn't want me to pay anything - but the point is that I asked and didn't assume it was the merchant's responsibility at all. In this case, the CM had no clue about what I was talking about and couldn't see that I as a customer have incurred fees due to their error - she didn't offer anything to me in the way of an apology at all, just an ignorant tone (IMHO she is very ignorant about exchange rates and credit card procedures to be working in guest accounting services!) and a goodbye.

I'll post for those few people who seem interested if and when I get a response from Disney.

Tiger