- Credit Card
- Real Estate
An overseas merchant whom I have purchased from before made an erroneous transaction on my credit card bill. The dispute has been resolved and the money refunded. The problem is incurred currency losses as a result of the currency conversion losses. It amounted to a total of 6% of the transacted amount. I could buy several lunches with the loss.
Imagine if an overseas merchant were to make a wrong transaction of USD10k, then refund the amount, the currency conversion losses would amount to USD600. It is also not uncommon for some merchants to charge twice by mistake. I have heard of that happening in hotels when the staff is new and inexperienced.
I have contacted the merchant. They have yet to respond. I wonder what else can I do if the merchant stubbornly refuse to do anything.
What protection do credit card consumers have when this happens to them? Do we have to suck it up?
The credit card is issued in Singapore and the merchant is from the United States.