Quote:
Originally Posted by MrDaniel
This is nothing the processor can control, in your case you have a Canadian issued card and buys things i USD, then in the authorisation a booking is made on the account with a higher exchange rate to cover for exchange flucturations between the auth and the postings on the account. This is something that is done after the procossor has forwarded the transaction to the issuer.
When the final transaction is settled the exact exchange rate is determined and is often less than the auth exchange rate, in rare cases of high flucturation in exchange rates it could be higher and the issuer stands the risk that there is not enough money on the card to cover the transaction.
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Maybe you are missing what happened, i essentially got double billed. if i was buying something for $800 and i have $1400 on my card it wont go thru, that seems pretty simple. In order for me to buy something for $800 , i basically need $1600+ to cover the purchase, because they pend 2 charges, 1 goes thru one pends for 2 weeks.
The original pend was in USD the actual charge was in CND, seems pretty simple , do the auth in the same dollars as the charge, i dont see how the processor can't accomplish this. the risk of a couple cents on the exchange rate seems paltry compared to the massive amount of people that don't have enough to cover a double purchase.