Customer paid USD but settlement shows CAD is not equal.

[rainysia]

Hi there,

We use authorize.net as our international credit card payment method, 

customer paid $952.62, and that day is May 16th.2019, USD to CAD exchange rate is lower than: 1.3399,  so the transferred CAD amount should less than CDA 1276.40,  now customer shows us the screenshot said his settlement is CAD1317.18.

so we want to know is any exchange fee in authorize.net? 

(1317.18 - 1276.40)/1276.40 ≈3.20% is too high.

Gateway:  https://secure2.authorize.net/gateway/transact.dll

Please contact me with my email rainysia#gmail.com

Thanks

[RichardH]

Hello @rainysia 

This is not a question we can answer here in the community.  Please contact customer support by phone at 877.447.3938.

Richard

[rainysia]

OK, let me call them later. Thanks anyway.

[Renaissance · Accepted solution]

@rainysia

I’m going to break the rules and answer this, as I just looked it up on my phone (hamburger taking too long to get here). From what I just looked at online, ~ 3% is typical and the fee your customer was charged has zilch to do with auth.net. This FX fee occurs when a customer in one country uses his/her cc in another country. It is a fee charged to the customer and not the merchant. Auth.net only charges the merchant, from my understanding. So the fee wouldn’t hit your customer if it is an auth.net charge. The charge is between the card brand and the issuer. So Visa may charge 1% and then Citibank, Chase, etc. may be responsible for the other 2% or 2.2%. As a side note, I do not know how fine tuned Visa, Chase, et al get in their conversions, but the FX rate fluctuates all day long.

Please mark this question solved.