Ryanair - exchange rate
 

Hi,

it's my first post on this forum. I'd like to ask your about the experience in refundation and compensation made by Ryanair due to cancelled flight. I've just got a confirmation that they will process bank transfer for 800EUR as the compensation but I have doubts about rate exchange they are using.

As they want to made that transfer in my local currency (PLN), that amount was calculated by Ryanair and the rate exchange is really unfavorable for me. The calculation made: 3046.56PLN = €800 which means that they are using 3.81 exchange rate while the current PLN-EUR rate is about 4.2-4.25. This mean that with respect to current rate I should get over 300PLN more that they said.

Could someone help me and write if is there any way to point out that the exchange rate is not in line with the bank exchange rate?

Welcome to Flyertalk, lukaszjur, and I hope that we will see plenty more of you here, thank you for your question.

For the EC261 component (which can't be 800€ for one passenger) then you can insist on payment in Euros, and then it will be up to you to pay your bank to get the final payment in PLN. For the fare component, then I would look to get back exactly what you paid at the time, in whichever currency you used. If there is a shortfall then you may have some further recourse, but I suspect that is down to what Polish consumer law and its remedies offers to you.

Something for further research is that every day IATA in Montréal posts a daily exchange rate chart, and for larger airlines this is the basis of inter-currency pricing - it's usually a fair rate of exchange that is used. So that's something you can investigate in terms of deciding an equitable outcome.

Thank you for reply.

800€ is for 2 passengers. Are you able to quote the section which I can rely and used to reply the Ryanair? I can't find it.

I also can't find any values on the IATA website. Are the exact current rates posted there?

EU261 is silent on non-euro currency - however article 7.3 states

"The compensation referred to in paragraph 1 shall be paid in cash, by electronic bank transfer, bank orders or bank cheques or, with the signed agreement of the passenger, in travel vouchers and/or other services."

so I think you can rely on this to insist the payment is made by bank transfer and in Euro

HTH

OB

That's a substantial hit, indeed - in the order of €90 or so.

On the assumption that your bank would charge you nowhere near such a high fee for receiving the transaction in Euros, I would insist that Ryanair transfer the full amount in Euro -€800.

It's probably better to get the full amount sent to a single bank account - rather than them refunding the €400 separately to both passengers - as in such a case you would pay whatever fees your bank might charge twice.

That's why I want to get total amount of compensation to my bank account in one transfer. I've wrote to Ryanair with the request for payment in Euros and I'm waiting for resolving that case.
I'm also considering what to do if they will answer the transfer was already made.

How did you get on?