Originally Posted by
christep
It's absolutely standard practice in HK. I'm surprised that it isn't elsewhere.
Actually I'm really surprised by this because I'm supposed to get the full amount I paid back since the credit card issuer hasn't paid the merchant yet.
Also I checked with Visa and I don't see they have a buy-sell rate for foreign currency like this - so far I have around USD 250 of various refunds and I'm shocked that banks can grab money like this.
What about AMEX/Mastercard in Hong Kong? Same thing?