Refunding Zoom Events tickets purchased in a foreign currency
Zoom Events offers events for an international audience. Depending on the country or region you are located in, you can purchase tickets to join events that are hosted in a country that is different from yours.
This article covers:
- What is a local currency?
- What is a foreign currency?
- What is a foreign transaction fee?
- Does Zoom Events refund foreign transaction fees?
- Is there a charge for purchasing tickets in foreign currency?
- How are ticket purchases made in foreign currency refunded?
What is a local currency?
A local currency is the currency most commonly used within a country. This is usually the national currency.
Example: The U.S. dollar is the local currency in the United States.
What is a foreign currency?
A foreign currency is any currency not normally used in a particular region or country.
Example: The U.S. dollar would be a foreign currency in the United Kingdom.
What is a foreign transaction fee?
A foreign transaction (FX) fee is a surcharge that is 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. Foreign transaction fees can also apply to purchases made online from your home country where the vendor is foreign and processes the transaction in its local currency.
Example: If you use a U.S. dollar-issued credit or debit card to purchase an online item sold in British pounds by someone in the United Kingdom, you could be subject to a foreign transaction fee.
Does Zoom Events refund foreign transaction fees?
Zoom Events does not provide refunds for any incurred foreign transaction fees. The user is responsible for any foreign transaction fees incurred.
Is there a charge for purchasing tickets in foreign currency?
If you purchase a ticket that is sold in a foreign currency, you may be charged a foreign transaction fee from your card or bank issuer.
How are ticket purchases made in foreign currency refunded?
If you pay for an event in a currency that is different from what your credit or debit card was issued in—normally the currency of the country where you opened and/or registered the card—and your refund is accepted, the amount that you receive may be more or less than the original amount you paid. This is a result of the refund being issued in the same amount and foreign currency that you paid in, but which will then need to be converted to your card's issued currency. Due to the daily fluctuation of foreign currency exchange rates, the foreign currency rate at the time of the refund will most likely be different from the foreign currency rate at the time of purchase.
The refund amount that you receive for a ticket purchased in a foreign currency may be more or less than the original amount that you paid.
Example: You have a USD-issued credit card and purchase a ticket that is sold in Euros (EUR). The ticket costs €9 EUR and the exchange rate at the time of purchase is $1.00 USD = €0.90 EUR. At this current exchange rate, your credit card statement will show the cost of the ticket as $10 USD*. If you request a refund, the refund will be sent to your credit card in the ticket’s original currency and amount at purchase, in this case, €9.00 EUR. However, if the exchange rate at the time of refund is different than the exchange rate at the time of purchase, which was $1.00 USD = €0.90 EUR, your credit card statement will most likely show a refund in an amount that is more or less than $10.00 USD. For example, if the exchange rate at the time of refund was $1.00 USD = €0.85 EUR, your credit card statement would show a refund of $10.58 USD.
Note: In the scenario above, if at the time of refund the exchange rate was $1.00 USD = €0.95 EUR, then your credit card statement would show a refund of $9.47 USD.
*If you purchase a ticket that is sold in a foreign currency, you may be charged a foreign transaction fee from your card or bank issuer.
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