How do I refund an over payment?
I have charged a guest by mistake in US funds instead of Canadian. I need to refund the extra amount paid. How do I do this? will there be a charge from Stripes?
My first question would be how would you charge in Canadian dollars vs. US dollars to begin with? I wasn’t aware that we had the ability to change that, even within our merchant account.
Was your quote in US dollars or Canadian dollars?
Based on what I know, you need to work in only one currency (US dollars). So your Canadian guest would need to understand that your quote is US dollars, and they would need to do the conversion to know how much that means in CA $. Then their bank will convert it, as they probably did.
If you’re just refunding in US dollars to make it work out right for the guest, then you should just be able to create a new quote (for the US dollar equivalent of what you should have charged - and now will receive), set it as your reservation terms, and then once accepted, it will automatically refund any overpayment - in US dollars.
For you to manually calculate the exchange, it’s about $1US - $1.35CA today, but it’s not an exact conversion and always changing. Banks also add their conversion fees. I’d strongly recommend just agreeing to a US dollar amount, and leave it to them to agree to accept the “then-current” conversion rate. That’s what I do with all of my Canadian guests.
Hope that helps.
There is a way to change the currency you charge in, I have already done it since over site was pointed out. It would not fly to be charging US funds for a Can company doing business in Canada, if the site did not offer different currancies would be a deal breaker for me. A Canadian made an inquiry which I assumed we were discussing in Canadian Funds.
I am not sure if I can issue the refund of the overage now, then after the stay still be able to refund the damage deposit. I’m new to Stripe and charges on my site
yes you can.
If you adjust the quote to reflect the NEW NET AMOUNT that you need to collect in the currency in which you originally charged, then when the terms are accepted (or you accept them) then the refund should automatically process. This does NOT refund the security deposit. You will still be able to refund that as you normally do.
Now, that said, if you are changing the currency mid-transaction, it might be better to refund 100% in the US dollars, and the switch and re-charge them in Canadian dollars? Otherwise the deposit refund will also be tricky.