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Am I Right For Expecting To Be Paid Back At The Dollar Rate I Paid For The Product?

Discussion in 'Business & Tax Advice' started by Floopa75, Jul 29, 2015.

  1. Floopa75

    Floopa75 Jr. VIP Jr. VIP

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    Recently I bought a product.

    $37 USD for product #1.

    $17 USD for product #2.

    I'm Canadian so on the day of purchasing, July 19th, the rate on the Canadian dollar to the American dollar was C$1.33 per 1 USD.

    However when refunding me on July 23rd, the company that created product #1 + #2, took the July 23rd rate which was C$1.26 per 1 USD and paid me back that amount.

    So I paid C$71.82 when purchasing, and I was refunded C$68.04.

    That results in a C$3.78 loss on my end. Obviously not a bank breaker, but me personally if it was my company I would make sure things like this didn't happen.

    To me it feels like a cheap tactic and one that could be exploited for large sums of money when currency rates become volatile.

    Let's say for example I paid for the product at a time where it was C$1.50 per 1 USD, and got refunded at C$1.26, it would have a resulted in a C$12.96 loss. Do you see how it adds up quickly? Had I bought a product worth $500 USD @ C$1.33 per 1 USD and got refunded @ C$1.26, it would have resulted in a loss of $35.

    What do other people think? Am I right for expecting them to honor the original price that I paid?
     
    Last edited: Jul 29, 2015
  2. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Odds are they just hit the refund "button" and are not even aware unless someone brings it up to them.

    Shoot them an email and see if they make things even.
     
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  3. KELLOGGS

    KELLOGGS Supreme Member

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    Like BTB says, I'm sure they are completely unaware of the changing exchange rate and have not purposefully tried to profit $3.78.

    Ultimately, if their price is in USD, the exchange rate is not their responsibility and they've refunded the full price in USD.

    Refunding the original amount of Canadian dollars with the current exchange would be a loss for them. Someone has to lose out and unfortunately, I think it is usually the consumer that exchanged their home currency into the currency the price is in.

    Being from the UK with most IM tools priced in USD I've been where you are and just moved on.
     
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    Last edited: Jul 29, 2015
  4. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    I cant believe you created this thread.
     
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  5. Floopa75

    Floopa75 Jr. VIP Jr. VIP

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    It wasn't really about me losing the $3 it was about whether or not this is something that is commonly done when refunding