Transactions re-processed at different exchange rate

I am not sure I understand the point of the card if they re-process transactions at a different exchange rate at a later date?

Made two payments on 22/12/17 for them to be “reverted” and re-processed on 1/1/18 at a different exchange rate. The amounts are small, but it could could happen at any time again with larger mounts?

The original purchase:
Screenshot from 2018-01-02 12-14-40

The re-proceseed purchase:
Screenshot from 2018-01-02 12-15-04

Hi there.

As I can see the merchant didn’t settle the transactions within 7 days as required, therefore both transactions reverted. When the merchant finally settled the transaction the rate changed.

Hi

That has nothing to do with me. The point of your card is you recieve the exchange rate at time of purchase. Please correct without further delay, of if you will not then please provide me with the complaint escalation procedure.

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You must be joking or still not back to reality after the New Year’s Eve or something.

The merchant you made purchases with messed it up. They haven’t settled their transactions on time and so charged again later.

There’s no way Revolut could have handled it differently.
Details aside- the way transactions and completed or reverted is beyond their control, per card industry regulations.

This is merchant’s “fault”, but really nobody’s “fault” and probably just some bad luck. Someone forgot to run a daily charge “job” on the terminal or your merchant’s acquirer had a technical issue.
Stuff like that happens very rarely, but it sometimes does and you just have to live with it.

So a piece of good advice for future- educate yourself first. Escalate and complain later.

@revofan is right. At the end of the day you paid 90Kr & 360Kr in a slightly different rate because the transactions reverted. It’s not Revolut’s fault.

really? Because we were informed this happens in the FAQ?

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Pretty much. Really. Educate yourself and do your research first. Ask, if needed, next.
Escalate, complain and b*tch about stuff only when you’re absolutely sure you have a valid point. It’s that simple.

Imagine it’s quite hard to put all the card processing technical nitty-gritty and data out there in the FAQ.

This particular situation would look exactly the same in any other bank / card issuing institution out there and it’s strictly related to card processing technicalities. End of simple story.

There you go again :slight_smile: Nothing more to contribute other than insults?

How about sending the link to it in the FAQ as I must have missed it
before I used the card?

The way card transactions are handled has been described in Revolut’s Terms and Conditions- a separate document to FAQ.
I deeply trust you still are able to google it up yourself.

With just a little hope for further fact-based discussion, I also truly believe it is possible to understand that what happened here was the merchant’s (place where you actually made a purchase) action.
Merchant did not properly settle your transactions and so the pre-authorization charge from Dec/22 timed out, according to Mastercard/Visa regulations (7 days).
Later, having caught their error/miss, merchant re-initiated these transactions again on Jan/01 and sent out a separate/new charge that was no longer related to your initial pre-authorization charges. It couldn’t have been related anymore, because of the timeout elapsed.
With that, the new exchange rate has been applied as these were technically new transactions initiated by the merchant.

This kind of worked similarly to a hotel charging you for the room mini-bar use a couple days after you’d left. Technically a new/separate charge, though “formally” related to the initial one. Or airline purchases, charging your card without authorization at all, at any time after the purchase. Happens a lot with Lufthansa, for example.
You would see your charge only after a week, or two, or a month with no initial authorization at all.

Does this make sense?

This is really all I can help with. This is the way it has been implemented in all payment card systems across the world.
This is the way it works. And as you can see, all the possible functionalities of card payments, including reverting / re-charging / CNP / fallback type of transactions is no trivial stuff so it is not feasible to include all of that in FAQ.

Now, honestly, please. Do you believe there still is a room to escalate?

Side note- I am not professionally related to Revolut in any way and I’m an ordinary user on this community forum.

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Hi

I have read your discussion with great interest because I am facing a similar situation. The question here should be: why was at the day of purchase (22 December) pretty much the interbank rate NOK to GBP (from that date) applied but then in the final settlement a much worse exchange rate is applied (interbank +3% from that date). When you check with e.g. oanda.com you will see that Revolut‘s applied rate was never near the real exchange rate…