Why Is My Refund Amount Lower Than the Original Charge?

If you notice that the refunded amount on your card is lower than the amount originally charged, this is usually caused by currency conversion and bank processing fees.

How Morningstar Processes Payments

Morningstar charges all orders in USD (United States Dollars).

If your card is billed in another currency (for example EUR, GBP, SGD, etc.), your bank or card issuer will automatically convert the USD charge into your local currency using their exchange rate.

Why the Refund Amount May Differ

When a refund is issued, Morningstar refunds the full original USD amount. However, the final amount returned to your card in your local currency may differ because of:

• Foreign exchange (FX) rate changes between the purchase date and refund date
• Currency conversion fees charged by your bank or card provider
• International transaction or processing fees retained by the bank

As a result, the refunded amount in your local currency may be lower (or occasionally higher) than the original amount charged.

Example

• Original purchase: USD charged by Morningstar
• Your bank converts it to: 310.24€
• Refund issued: Full original USD amount refunded
• Bank converts refund back using a different exchange rate and fees
• Final refund received: 291.16€

The difference is caused by the bank’s conversion rates and fees, not by Morningstar withholding part of the refund.

Can Morningstar Refund the Difference?

Unfortunately, no. Exchange rate conversions and banking fees are handled entirely by your bank or card issuer, and Morningstar does not receive or control these fees.

What Should I Do?

If you would like a detailed breakdown of the difference, please contact your bank or card provider directly. They can provide information about:

• Exchange rates applied
• FX conversion fees
• International transaction fees
• Refund processing policies

If you need confirmation of the refunded USD amount from Morningstar, feel free to contact our support team.

Updated on: 26/05/2026