Undercharged on foreign currency

deeLFC

Hi There,

Recently I went into a foreign exchange shop to change money for my holidays. I'd agree'd a value to pay for the euros i wanted, however the value on the chip and pin machine was significantly lower.

A few days after my purchase i received a phone call by the company saying they had noticed their mistake of undercharging me a few hundred pounds.

Are they within their rights to demand the difference back?

Any advice would be great.

Thanks

kebabkiller

If you have paid what was asked at the time of purchase (ie on the chip and pin machine) and you received your good (currency), then there is no recourse for them to attempt any form of recovery.

I could be wrong but it isn't your problem, A clothes shop cant ring you a week after buying a top and say they sold it to you too cheap and want the extra. I would just tell them to get lost in the politest possible way.

tomtontom

You were told the correct amount, you saw they had input the wrong amount on the terminal and chose not to say anything, yes? If so grow a backbone and pay what you owe, someone could easily lose their job over this.

browneyedbazzi

kebabkiller wrote: »

If you have paid what was asked at the time of purchase (ie on the chip and pin machine) and you received your good (currency), then there is no recourse for them to attempt any form of recovery.

I could be wrong but it isn't your problem, A clothes shop cant ring you a week after buying a top and say they sold it to you too cheap and want the extra. I would just tell them to get lost in the politest possible way.

That's not entirely correct. If the only communication of the price was on the chip and pin machine then the above would be correct. If however you agreed a different price and contracted with them for that price (which appears to be the case here) then you owe that amount of money. If you haven't paid the full price due to an error on the chip and pin machine then they can pursue you for the balance.

ETA: your thread title is incorrect, it should read 'underpaid for foreign currency'

deeLFC

tomtontom wrote: »

You were told the correct amount, you saw they had input the wrong amount on the terminal and chose not to say anything, yes? If so grow a backbone and pay what you owe, someone could easily lose their job over this.

No I didn't notice until I received the phone call

marliepanda

You did not pay the agreed to price, so yes you owe the money.

You are only paying the price you agreed to, not more, so what is the problem? You just thought you were gonna get it for cheap?

bris

You owe the money, you knew what you had to pay so the contract was for this amount, a mistake on the chip and pin machine does not absolve you from the contract.

Whether or not they chase you for it is a different matter.

However the big question is will you do the right thing?

daytona0

deeLFC wrote: »

No I didn't notice until I received the phone call

This could be true but to be honest it is unlikely... Only a silly person would not check the charging amount on the machine when entering their pin.

What would happen i they had overcharged you? You would never have known. By the same virtue would you assume that you had accepted an amended contract o sale which included overpaying them the advertised price? Like hell you would.

Just as you would chase up a reund when overcharged, they are going to chase you 4 one too...

I hope they take you to court or I hope you pay them the balance owed.

tomtontom

deeLFC wrote: »

No I didn't notice until I received the phone call

In which case you'll be more than happy to pay what you thought you already had paid?

ThumbRemote

If they'd overcharged you, do you think they'd be chasing you to give the difference back?

If yes, pay them back. If no, tell them to stuff it.

halibut2209

Surely you will have been given 2 receipts. One from the chip and pin machine, and one from them. Do they tally? If not, then they are quite entitled to pursue you for the difference.