Refunds for Zoom Events tickets purchased in a foreign currency
You can buy tickets for events taking place in countries other than your home country, depending on the country or region you are in.
This article covers:
- What is local currency?
- What is foreign currency?
- What is an international transaction fee?
- Does Zoom Events refund foreign transaction fees?
- Is there a fee to buy tickets in a foreign currency?
- How are foreign currency ticket purchases refunded?
What is local currency?
Local currencies are the most commonly used in a country. National currencies usually fall into this category.
Among the local currencies in the United States there is the US dollar.
What is foreign currency?
Foreign currencies are those that are not common in a country or region.
UK exchange rates are based on the US Dollar.
What is an international transaction fee?
A foreign transaction fee (FX) is a surcharge charged by many credit card issuers to a consumer who uses an electronic payment card (credit or debit card) to make a purchase in a foreign currency. International transaction fees may also apply to online purchases from your home country if the seller is overseas and settles the transaction in their local currency.
For example, if you use a US dollar credit or debit card to purchase an online item that is being sold in British pounds by someone in the UK, you may incur an international transaction fee.
Does Zoom Events refund foreign transaction fees?
Zoom Events will not refund any foreign transaction fees incurred. The user bears any foreign transaction fees incurred.
Is there a fee to buy tickets in a foreign currency?
Your card issuer or bank may charge you a foreign transaction fee if you purchase a ticket in a foreign currency.
How are foreign currency ticket purchases refunded?
It is possible that the refund amount you receive may be less or more than the amount you originally paid for an event if you pay in a currency different than the currency used on your credit or debit card issued – generally the country where you opened or registered the card. You will need to convert the amount and currency of your refund into the card’s issued currency as the refund will be in the currency in which you paid. As exchange rates fluctuate daily, when the refund is processed the exchange rate will likely be the same due to daily fluctuations in exchange rates from the purchase rate at the time of the refund.
Depending on whether or not you purchased the ticket in a foreign currency, you may be refunded more or less than the original amount for a ticket purchased in a foreign currency.
A simple example would be if you had a credit card issued in USD that you used to purchase a ticket that was sold in Euros (EUR). This ticket costs 9 EUR, and at the time of purchase, the exchange rate was 1.00 USD = 0.90 EUR, so the ticket price was 9 EUR. The cost of the ticket will appear on your credit card statement as $10 at this current exchange rate. It is important to note that if you request a refund, we will transfer the refund to your credit card or PayPal account in the currency and amount used at the time of purchase. However, if you receive a refund for an amount less than or greater than $10.00 at the time of the refund, your credit card statement will likely show a refund of more or less than $10.00 at the time of the refund, depending on the exchange rate . It’s likely that your credit card statement will show a refund of $10.58 on your account if the exchange rate at the time of the refund was $1.00 = €0.85.
In the example above, if you received an exchange rate of $1.00 to €0.95 at the time of the refund, you will see an amount of $9.47 on your credit card statement attached to the refund.
If you purchase a ticket that is sold in a foreign currency, your bank or credit card company may charge you a foreign transaction fee.