For a project we are doing in Singapore, my company did a wire transfer to a company in Singapore. All of the funds were not expended, and when I asked the Singapore company to wire back the difference, they indicated that they 'preferred' to put the refund on a credit card.

Today I received the credit on my Citibank MasterCard. The conversion rate was what the rate was for that day. On the line below that, I received an additional credit. The credit description was: FOREIGN PURCH*FINANCE CHARGE*ADJUSTMENT which was 3% of the 'refund.' (actually is 2.99978%).

I'm guessing the 3% is the vig that the ripoffs charge to handle your foreign transaction. Has anyone had the experience where it was listed as a finance charge? And I am guessing that Citibank is assuming I originally charged this amount to THAT card and 'refunded' the foreign exchange vig. Hey. I'm not complaining. I made $101.61 ^