GBiT - is it a refund or a new transaction?

So how does Go Back in Time work regarding the original payment?

Does the (1) original payment get refunded, or (2) is a new payment created with the original amount of $ that is sent to the original payment card?

I am asking because I have been charged by my bank in my local currency instead of the €.
In case #1 they would have to return the amount of money in my local currency altogether (the exchange rate is really bad).
But if #2 is the case they might be hesitant since they could just say that the payment and refund are two distinct transactions…

@gordonline Welcome to the community!

GBiT would classify as 1). The original transaction is refunded and the new card gets charged with the original amount.

2 Likes

Exactly. :maple_leaf: