Flight cancelled – airline said “full refund” but I received £98 less. Is this normal?

Hi everyone,

My flight from Islamabad to London was cancelled by Emirates, so I requested a refund instead of rebooking.

I received an email confirming that I would get a “full refund for the unused ticket.” The ticket was completely unused because the flight never operated.

However, when the refund came through, it was £98 less than what I originally paid.

I haven’t contacted the airline yet because I’m not sure if this is normal or if I’m misunderstanding something. I know sometimes there can be currency conversion differences, but £98 seems like quite a big difference for that.

Has anyone experienced something like this before?

Is it worth contacting the airline to question it, or do airlines sometimes deduct things even when they say “full refund”?

Just trying to understand if this is normal before I start chasing them.

Thanks in advance.