I mean I paid £550 for this card, the collatral payment should of been £550 {and I should of got 550 GBP back} not 550 euros I didn't pay in euros, anyone from EVGA comment on this?

the_Scarlet_one
I have never understood the exchange rate changes with collateral because I don’t directly deal with them personally. You would think that they release the funds at the exact amount you sent, not in a different currency that fluctuates.

Yes this seems very wrong to me, I mean do they deal with american colleteral payments in £ no they use their local currency of $, I knew something would go wrong with this cross ship collateral thing but I didn't want the down time, they should of requested the amount in pounds not euros

the_Scarlet_one
I understand that they only have offices in specific region, but I would think releasing the payment as the same exact funds they were received would be easy.

Thats the problem they received 550 euros cause thats what they asked for, then they just refunded the 550 euros back with no consideration about the fluctuating exchange rates or currency conversions

Sorry to hear that, and it is great PayPal helped you out.

Hello swany2,
 
I apologize for any confusion about how the collateral charge and refund are processed. We operate in a country that transacts in Euros, so all charges and refunds are done in Euros. Because of the exchange rates, there's always the potential for the amount refunded to convert at a lower, or even higher, rate. Some financial institutions are willing to match the refund conversion rate to the original purchase rate, which it looks like Paypal did for you. 
 
As the conversion rate happens in the background when performing transactions online, it can be a bit confusing. It can be easier to understand in a more traditional brick and mortar transaction. For example, you travel Germany, and go to a currency exchange to get €100. You hand over £95 and receive €100 due to the current conversion rate. You spend that €100 at a local store, but a week later before you return home decide to return what you bought and get your €100 back. You go back to the currency exchange and hand back the €100, but only get back £90 due to a fluctuation in the exchange rate. That is essentially what is happening online as well, but in the background.
 
I see we received your faulty video card back on 31/10/17. The collateral should have been refunded in 1-2 business days of that. If it took longer than that, I apologize for the delay in getting that processed back to you. From the date of your initial contact with us on 15/10/17, to the date we received your product back, you should have been refunded by 11/2, or about 14 business days. I will be working with our EU department to make sure they are processing collateral refunds in a timely manner.
 
I hope this helps to explain what's happening when currency is converted back and forth during transactions, and again I apologize for the confusion and delay!

EVGATech_JaesonW
Hello swany2,
 
I apologize for any confusion about how the collateral charge and refund are processed. We operate in a country that transacts in Euros, so all charges and refunds are done in Euros. Because of the exchange rates, there's always the potential for the amount refunded to convert at a lower, or even higher, rate. Some financial institutions are willing to match the refund conversion rate to the original purchase rate, which it looks like Paypal did for you. 
 
As the conversion rate happens in the background when performing transactions online, it can be a bit confusing. It can be easier to understand in a more traditional brick and mortar transaction. For example, you travel Germany, and go to a currency exchange to get €100. You hand over £95 and receive €100 due to the current conversion rate. You spend that €100 at a local store, but a week later before you return home decide to return what you bought and get your €100 back. You go back to the currency exchange and hand back the €100, but only get back £90 due to a fluctuation in the exchange rate. That is essentially what is happening online as well, but in the background.
 
I see we received your faulty video card back on 31/10/17. The collateral should have been refunded in 1-2 business days of that. If it took longer than that, I apologize for the delay in getting that processed back to you. From the date of your initial contact with us on 15/10/17, to the date we received your product back, you should have been refunded by 11/2, or about 14 business days. I will be working with our EU department to make sure they are processing collateral refunds in a timely manner.
 
I hope this helps to explain what's happening when currency is converted back and forth during transactions, and again I apologize for the confusion and delay!

ok thanks for the reply, maybe some kind warning about this at the collateral payment page would be good?