USD Exchanged for AUD. Currency Exchanger Wants Me to Return So They Can Recalculate

PaperplaneXXX on 10/09/2016 - 14:52
Last edited 10/09/2016 - 15:35 by 1 other user

Dear Oz Bargainers!

I need your opinion.

Yesterday I exchanged USD 3200 at the rate of 0.73 and I got AUD 4340.
I thought such a great rate they have offered!!!

It was in North Lakes Westfield, QLD near Brisbane.
I live in Brissy but my hairdresser moved there that's the reason why I was there.
Money is for my mom - she is visiting brought some USD.

So they guy is calling now and asking me to come back and recalculate at the rate of 0.80
I believe that's 7% down for me! Such a big spread they are having. I believe I got AUD 220 more than I kinda should according to the guy…
But i was not checking and calculating. He did everything.

I have got a valid receipt for the cash exchange. I believe I am legally right?

What to do?

I don't have time to drive to North Lakes its 40 km. 2 hours trip return.
I work full time as well. Maybe in the nearest month i would have a customer visit in that area.
Most weekends I surf as of today driving to the Gold coast.

Any thoughts appreciate.

Financial

Comments

  • stratbargain on 10/09/2016 - 15:01
    +18

    "If he rings just say you cannot come back as the money has already been spent. Have a great day"

    click

  • enzioFirenze on 10/09/2016 - 15:03
    +3

    that's bull, I don't think they can do that!

  • plmko on 10/09/2016 - 15:07
    +13

    Nothing they can do.

    • poboy on 10/09/2016 - 20:18
      +2

      Correct. Offer and acceptance.

  • modsec802 on 10/09/2016 - 15:08
    +25

    Bank error in your favour; collect $220

    • PaperplaneXXX on 10/09/2016 - 15:20
      +2

      collected and deposited into a bank account))))

    • payton on 22/09/2016 - 09:58

      "I don't play monopoly, I live one in real life"
      /likeaboss

  • t_c on 10/09/2016 - 15:13

    What type of business was it, was it one of the big 4?

  • PaperplaneXXX on 10/09/2016 - 15:20
    +1

    no no guys is was a foreign cash small place. like cash converters - when you fly overseas before you can exchange currency and get USD, Korean Won, whatever you want.

    • PJC on 10/09/2016 - 16:56
      +4

      Why does he know your phone number?

  • supnigs super skids on 10/09/2016 - 15:45
    +3

    You are a winner. Don't go back

  • retiredfeline on 10/09/2016 - 15:48
    +7

    He's exaggerating anyway, the median is around 0.75/6 so he's not losing that much. Sounds like he got buy and sell rates mixed up.

    • PaperplaneXXX on 10/09/2016 - 16:17
      +1

      yes he said he sold cash instead of buying it. But i didn't really pay attention. I just wanted AUD asap. I was in a rush.
      Will talk to him again. He called today but i didn't pick up.
      that the point. current rate is 0.76 but they are making profits and applying 0.8 rate) he he not in my case.

      • retiredfeline on 10/09/2016 - 16:54
        +3

        I think a money changer who can't discriminate between buy and sell rates in a split second shouldn't be trading. It's obvious, as a money changer, you look at the rates, and see which one is more advantageous to you: Paying out 3200/0.73 or 3200/0.80? Well, that was a lesson to him. Hope he wasn't an employee and out of pocket.

        • PaperplaneXXX on 10/09/2016 - 16:56
          +1

          probably he is an employee.

        • PJC on 10/09/2016 - 19:30
          +5

          @Furan: So why does he know your phone number?

  • PaperplaneXXX on 10/09/2016 - 16:19
    +2

    thanks everyone for opinion.
    Simply don't have time to go back.
    And not reply in my interest to make corrections and apply worse rate:-)
    hope the guy at the counter would be fine with that.
    cheers,

    and legally i shall be okay too as i have a receipt didn't do anything wrong.

  • holdenmg on 10/09/2016 - 16:28
    +7

    I don't understand your question but my answer is for you to post the receipt here so we can all price match at Officeworks. lol

  • StewBalls on 10/09/2016 - 16:38
    +6

    Hehehe, I love to see the little guy get a win from time to time…well played OP! Every time he calls you just laugh & hang up!!! :)

  • Nutrino on 10/09/2016 - 17:32
    +3

    Wait, you've got the money right?. even if he called, why would you go back?. it's his problem now.

    Same situation from another thread where harveys charged a guy 40 something bucks for a camera/lens.

  • bjdchwr on 10/09/2016 - 17:50
    +7

    All the transactions are final…

    I think this would be what they normally do for us… Now it's the time to fight back!!!

  • Rashed on 10/09/2016 - 19:09
    +2

    He made a mistake, fair enough, we all do, he should call and request you, if he can come and collect part of the money, that way he may not be making money, but he wont be losing too. I dont understand how can he expect you to waste two hours driving plus fuel, to fix his mistake.

  • Ozbargainite on 10/09/2016 - 20:55

    Reminds me of the 2 times I been substantially overpaid by bookmakers.
    I did the right thing both times
    :) :) :) :)

    • capslock janitor on 22/12/2019 - 23:31

      bookies are quick to reverse or suspend your account tho

  • [Deactivated] on 10/09/2016 - 21:02

    Good lesson for him :-)

  • Skramit on 10/09/2016 - 22:30

    He will be calling you because it will have to come out of his wage if he can't get it back. Haha. Or get fired.

  • Lysander on 10/09/2016 - 22:59
    +2

    Sure. Do what he says. However, when he calls, tell him that for your time, driving, and loss of income you will have to charge him $150 per hour. He can then choose what he wants to do - let you keep $220 and learn from it or have you return it and pay $300 for your costs for the privilege. Of course, pre-payment of those costs required.

  • [Deactivated] on 10/09/2016 - 23:25

    Give him a suitcase full of Dumb and Dumber IOUs. Hey, they are as good as money, sir. It's rude for him to even ask for money back. They have one job to get right, and they wouldn't accept a reversal the other way. It's called a transaction and it's done.

  • grasstown on 11/09/2016 - 00:33
    +5

    This is more an ethics question than a legal question. Morally you may prefer to make it right, when you're next at the hairdresser.

  • Peck on 11/09/2016 - 09:20

    To me, there are 3 choices. Go back and get the $USD back (IE cancel the transaction), or do an EFT for the difference, or ignore him. I think that legally and morally, either of the first 2 options.

  • [Deactivated] on 12/09/2016 - 12:33

    I'm sure the trader was simply seeking your good will before his boss finds out the screw up and missing cash.

    That said he is asking for your good will and honesty and there is no hint that you're being forced to return.

    EFT transfer is certainly not a good idea and probably wont help the trader because the original transaction will still not balance.

  • PaperplaneXXX on 13/09/2016 - 21:59
    +1

    hey guys!
    he didn't call anymore.
    Only two times.
    I am crazy busy anyway with work and mum mom visiting from overseas.
    staying on the Gold Coast and working in Brisbane.
    North Lakes ar eon the other side.

    I hope its not too bad for karma))))

    • grasstown on 14/09/2016 - 02:24
      +1

      No worries, no urgency with either decision you end up taking or how long til you return to north lakes.

  • haemolysis on 23/12/2019 - 11:25

    Even for good will (not that you have an obligation) it’s not worth the bother to return for $220. That’s part of your day wasted. For chump change. Tell him sorry, not possible, and move on.

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