Does an International Transaction Fee on a Citibank Signature Card Get Refunded if The Purchase Is Refunded?

saxlady on 06/05/2016 - 16:48

I have a Citibank Signature card (which has high international transaction fees). We're going overseas in a few months and the hirecar has a $7500 bond on it. If we use the Citibank Card for that (we won't be using it for anything else while we're overseas) will the transaction fee get refunded when the bond gets refunded as well?

We have another card we'll be using while we're away which has no fees but I want to leave plenty of room on it for any expenses etc and not have it all tied up in the bond.
My income isn't high enough to raise the limit on the other card without getting rid of the Signature card, which I'll do if I have to, but would rather not have the hassle.

Financial

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Comments

  • retiredfeline on 06/05/2016 - 16:52

    I think it depends on how the bond is taken. If they've placed a hold on the amount, then no transaction has happened until you pay. If they do a chargeback, the transaction fee is not charged by the seller so you don't get it back.

  • GLO on 06/05/2016 - 18:04

    I have the same card and used it in Hawaii last year.

    If they take a holding Bond is US Dollars, just be aware that if its processed, then you have a refund, they will refund you at the US Dollar rate, but either the rate has changed.

    Another way to look at it is:

    If you buy something in US Dollars, then refund it later, even the same day, you are charged base on the rate at that moment. (Its not a rate that stays the same all day if you know what I mean)

  • saxlady on 07/05/2016 - 07:09

    Thanks for the replies. Is it unreasonable for me to contact them and ask exactly what their process is? Any other suggestions?

    • GLO on 07/05/2016 - 15:37

      Definitely give them a call.

      Their customer service is pretty good (Philippines based)

      I'd still say that a refund gives you close to the debit amount but you may have a couple of dollars difference. (think when you exchanging foreign currency), where the rates are different)

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