Refunding Zoom Events tickets purchased in a foreign currency
There are Zoom Events events that are open to international audiences based on which part of the world you are located in. You will be able to purchase tickets to attend events that are hosted from countries that are different from your own.
This article covers:
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What is a local currency?
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What is a foreign currency?
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What is a foreign transaction fee?
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Does Zoom Events refund foreign transaction fees?
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Is there a charge for purchasing tickets in a foreign currency?
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How are ticket purchases made in a foreign currency refunded?
What is a local currency?
Local currencies are the currencies that are most commonly used within a given country. It is usually the national currency that is used in this situation.
Example: In the United States, the dollar is the official currency of the country.
What is a foreign currency?
Generally speaking, a foreign currency is anything that is not used in a certain country or region on a regular basis.
Example: In the United Kingdom, the U.S. dollar would be considered a foreign currency.
What is a foreign transaction fee?
Often consumers are charged a foreign transaction fee (FX fee) when they use their electronic payment cards (credit or debit cards) to make a purchase in a foreign currency. The foreign transaction fee is a surcharge that is often charged by many credit card issuers. A foreign transaction fee can also be charged when you purchase goods and services online from a foreign country, even if the vendor is based in your home country and the transaction is conducted in the foreign currency of that country.
You could be charged a foreign transaction fee if you use a U.S dollar-issued credit or debit card to purchase an online item sold in British pounds by a company in the United Kingdom while using a credit or debit card issued by the United States.
Does Zoom Events refund foreign transaction fees?
The foreign transaction fees incurred in the course of participating in Zoom Events will not be refunded. In the event that foreign transaction fees are incurred, the user will be responsible for them.
Is there a charge for purchasing tickets in a foreign currency?
You may be subjected to a foreign transaction fee by your card issuer or bank if you purchase a ticket that is sold in a foreign currency.
How are ticket purchases made in a foreign currency refunded?
In the event that you pay for an event using a credit or debit card that was issued in a currency other than what your credit card was issued in, which is usually the currency of the country where you opened and/or registered the card, and your refund is accepted, you may receive a refund that differs from what you paid originally. It is important to note that this is due to the fact that if you do receive a refund, it will be in the same amount and foreign currency that you paid in, but it will then need to be converted to the currency associated with your card. As a result of the daily fluctuations in foreign exchange rates, it is highly likely that the foreign exchange rate at the time of refund will differ from the foreign exchange rate at the time of purchase, due to the daily fluctuations in foreign exchange rates.
If you have purchased a ticket in a foreign currency, the amount you receive for a refund may be different from what you initially paid for the ticket.
Example: If you have a credit card that is issued in the United States and you purchase a ticket that is sold in Euros (EUR). Tickets cost €9 EUR and at the time of purchase the exchange rate may be as follows: $1.00 USD = €0.90 EUR at the time of purchase. Depending on the exchange rate at the time of writing, you will receive an invoice in your credit card statement for the amount of $10 USD for the ticket. As a result of a refund request, the money will be credited back to your credit card at the time of purchase in the original currency and amount of the ticket. In this case, the amount is €9.00 EUR. The credit card statement will likely show a refund as an amount, more or less than $10.00 USD, 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 at the time of purchase. You would receive a refund of $10.58 USD on your credit card statement, if the exchange rate at the time of the refund was $1.00 USD = €0.85 EUR, for example.
The exchange rate would have been $1.00 USD = €0.95 EUR at the time of refund in the scenario above, and therefore your credit card statement would show you a refund of $9.47 USD if you had received the refund at that time.
There may be a foreign transaction fee charged by your card or bank if you purchase a ticket that is sold in a foreign currency. If this happens, you should contact your card provider or bank.
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