eBay

figuretomodachi · ‎03-28-2023

Sold an item to a buyer for 9.99 bucks, buyer requested refund saying they bought the wrong item immediately and I gave them refund.

But ended up having to pay an extra dollar out of my pocket, how the heck does this work. Have several items i'm selling that are between 500-1000, imagine if the buyer request cancelling for a 500 dollar item. I'd be expected to shell out an extra 50?

See the detail below, I'm actually a little brain fried, how did I end up having to pay extra for a refund 0.0.....

The 9.40 Cnd dollars is how much I made from the sale, shouldn't that be the only thing taken from my account =/

Total refund to buyer

$9.99

Refund summary

Refund summaryTransaction details Transaction amount

Purchase price	$9.99
Fee creditsShow details	-$2.02

Refund amount you owe

$7.97

Converted amount

C $10.59

How you paid

How you paidTransaction date Transaction details Transaction amount

Mar 28	Deducted from available funds	-C $9.40
Mar 28	Paid from VISA ending in 9011	-C $1.19

Outstanding amount due

C $0.00

reallynicestamps · ‎03-28-2023

Looks like your buyer purchased an item listed on dotCOM in US dollars.

But your account is on dotCA and the finances are done in loonies.

The difference is between the two currencies.

Today the mid-market rate for USD/loonies is $1.00Cdn* to $0.735 USD.

* The C$ means the amount is in loonies. If there is nothing before the '$' it is in USdollars.

You may also see "€" or "£" from time to time if you are dealing with European or UK members.

figuretomodachi · ‎03-28-2023

wow that's some serious charges, I mean we already lose 20% in selling fees, and if the buyer wants a refund that's another 10% lost in supposed exchange fees =/

reallynicestamps · ‎03-28-2023

There's no loss.

Well, the 30c eBay service fee is non-refundable.

But currency exchange is not necessarily a loss. If you buy currencies you pay more than if you sell the same amount, but the currencies are not the same thing.

That's why I used dollars for US currency and loonies for Canadian. Too many people get upset when US dollars and Canadian dollars are compared.

The name is not the thing.

For one Canadian dollar you can buy $5.77 Hong Kong dollar or $1.09 Australian dollars.

Just remember that a loonie is only a dollar in Canada.

lotzofuniquegoodies · ‎03-28-2023

@reallynicestamps wrote:
There's no loss.
Well, the 30c eBay service fee is non-refundable.
But currency exchange is not necessarily a loss. If you buy currencies you pay more than if you sell the same amount, but the currencies are not the same thing.
That's why I used dollars for US currency and loonies for Canadian. Too many people get upset when US dollars and Canadian dollars are compared.
The name is not the thing.
For one Canadian dollar you can buy $5.77 Hong Kong dollar or $1.09 Australian dollars.

Just remember that a loonie is only a dollar in Canada.

@reallynicestamps

Does it state anywhere in eBay help with refunds for whatever reason with an international transaction the original (matching) exchange rate would be used for the refund? With PayPal transactions in the past it was. With GSP/MP not so much. had that happen with a purchase I made just after MP was rolled out. The seller realized item was not permitted for GSP so they refunded. The refund was approx. 7 bucks less. Was a challenge to explain to seller, but never did get credited for the difference. On a refund, neither the buyer or seller should be out on funds because of floating exchange rates.

-Lotz

kawartha-ephemera · ‎03-29-2023

What reason for the refund did you select from "Send Refund" menu?

It sounds like the buyer paid then immediately asked for a refund. If that is what happened they were in essence requesting cancellation of their order. If "buyer cancelled" was selected as the reason for the refund I would have expected the transaction to have been simply reversed as if it had never happened, except for the 0.30 transaction fee.

If ebay nabs sellers for currency exchange on "buyer cancelled" orders that would definitely make me think twice about listing high value items in any currency other than my payout currency.

figuretomodachi · ‎03-29-2023

I chose buyer cancelled as the reason for the cancellation. I mean it never existed when paypal was here, this is really ridiculous.

Think of it this way, I make a purchase in foreign currency for 100 USD and immediately the merchant issues a refund. I'm not going to be out any money, same applies for the merchant, the merchant will not have to refund 110 dollar just so 100 dollar would get back to me.

flipistics · ‎03-29-2023

@figuretomodachi wrote:
I chose buyer cancelled as the reason for the cancellation. I mean it never existed when paypal was here, this is really ridiculous.

Think of it this way, I make a purchase in foreign currency for 100 USD and immediately the merchant issues a refund. I'm not going to be out any money, same applies for the merchant, the merchant will not have to refund 110 dollar just so 100 dollar would get back to me.

I'm not sure that's true. I heard somewhere that normally a merchant is charged the processing fees and any conversion fees immediately, even if they refund within seconds. I don't know if that's true or not, but I suspect it may be. It's possible eBay's managed payments may have a way around that though.

reallynicestamps · ‎03-29-2023

I heard somewhere that normally a merchant is charged the processing fees and any conversion fees immediately, even if they refund within seconds.

Yeah.

It's a bank thing.

If you went into your bank branch and gave then $100 US , then immediately bought $100 US, there would be a currency exchange.

Even if the teller gave you back the same bills.