Visa refunds when abroad?

[ButtermilkJa]

I am currently on holiday in Canada and I bought something on my Ulster Bank visa card. I was charged €24.10 after exchange rate. I had to return it 30 minutes later as it was faulty and the refund went through 30 minutes later for €23.15.

I understand that foreign purchases are subject to exchange rates but this is not the first time I have had to refund something abroad and the difference in refund and purchase is ALWAYS roughly €1 less. I've searched for an answer on the Ulster Bank website but didn't find anything.

Are there extra fees for refunds that I'm not aware of? I am sure that the exchange rate does not change that much in 30 mins.

 

[defiantshrim]

They charge commission on the currency conversion. That won't be refunded when you get the money back.

 

[Joe Q Public]

The buy and sell exchange rates are very different which accounts for the difference.

 

[Blackberry]

Purely down to exchange rate spreads.