An update on admin charge on forex for retail transaction in overseas. I used both SCB MC and Alliance MC to pay hotel bill on the same day in Middle East. I purposely split the bill into 2 so that I can monitor the disparity for purchase made on the same item and same day. To my surprise, SCB MC charged 3.7% higher than my Alliance MC for the conversion! Assuming Alliance didn't charge admin fee on currency conversion, SCB charged 3.7% for its admin fee. It's much higher than the 1% as indicated in its T&Cs. Fortunately I'll get reimbursement from my company.

I guess you questions were too tricky for a fresh graduate who works as a CS officer to handle.

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Added on August 4, 2009, 3:22 pmLuckily I made the payment on Friday (5% rebate). Or else I would have suffered loss as 2% rebate couldn't cover the 3.7% conversion fee.

This post has been edited by winner: Aug 4 2009, 03:22 PM

Yes. I paid about RM9k in one receipt using SCB Just1 and I've so far spent >RM15k on this card. Good enough for auto waiver of AF next year.

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Added on August 5, 2009, 11:10 amCorrection:
I have received the final statement from Alliance. The final rate it charged is different from what the CS officer told me before they issued the statement last week. Also, I have compiled the currency conversion on the SAME ITEM purchased (hotel bills) made on the SAME DAY and SAME TIME. I used Alliance MC and SCB MC while my colleague used CIMB MC and HSBC VISA. On the assumption that Alliance did not charge admin fee on overseas transactions, the results are as follows:

Alliance MC = 0%
SCB MC = 2.76% higher than Alliance MC
CIMB MC = 1.80% higher than Alliance MC
HSBC VISA = 2.01% higher than Alliance MC

Conclusion: Alliance is the clear winner for overseas transactions.


This post has been edited by winner: Aug 5 2009, 11:10 AM

I don't think you can use the cc when the current acc is closed. The current acc is a requisite alongside the Titanium cc. Not only that, the bank also forces Just1 customers to have a cheque book when the current acc is approved. I don't mind to have another current acc but I don't need the cheque book. But SCB told me that I must have one in the beginning, and keep/destroy the cheque book forever if I don't issue any cheque.

Since I obtained SCB Just1 cc and acc, I have begun using SCB current acc and stopped using my HLB current acc. Reason being SCB current acc offers one of the highest interest rate in town. If I don't have an existing home loan with HLB, I should have already terminated my HLB current acc as the interest rate is much lower than what SCB offers me now.

However, I am not satisfied with SCB acc processing department who sent me the cheque book from Kajang branch. I applied Just1 through SCB CS main line and my house is not located near Kajang. There are quite a number of SCB branches in PJ and KL. In fact, there is an SCB branch located less than 2km from my house. I may encounter some difficulties if I want to cancel the current acc in future as I need to personally go to Kajang to cancel the acc and take back the acc balances.

So, the conclusion is that MBB gave empty promises of issuing CCs within 2 hours upon application approvals during Treats Fair.

In fact, MBB has never impressed me. Unfortunately, Amex has now associated with MBB, and I am planning to get an Amex cc soon.

If your information is correct, it is to assume that, SCB, indirectly, forces its Just1 customers to hold their current accounts. It is because Kajang is not in close proximity to other major towns of the Klang Valley, and its Kajang branch has a small customer base.

OMG! The rate has been reduced! The rate is now similar to Alliance Hybrid Acc but it is STILL much higher than my HLB current acc.

The problem is I may need to get a new cheque book if I really wanna use SCB Just1 acc as my main current acc. Also, I have already put some money into the current acc. In future, can I withdraw all the money from the current acc making it "0" balance? If not, I have to go to its Kajang branch to close the acc and get the balance back.

Ok, you experience 1st and let us know the outcome. If it only functions as Cr, the Cr/Db problems will basically be solved. However, card recognition from all terminals is still unsure.

You need to wait 3-5 working days to have your online acc activated. I experienced this. It wasn't efficient. But once you have activated, you'll find that its online payment system is better than M2U.

You can't get instant approval for SCB online banking. I was also in a puzzle when SCB told me I had to wait for at least 3 workings upon request. Perhaps it is a new policy of SCB. SCB isn't as efficient as what you think.

I need to clarify this. What I mean is making payment online using SCB cc at SCB online. You need to wait for 3 working days or more to get the system activated.

This post has been edited by winner: Aug 7 2009, 08:17 PM

As usual, my online statement only shows a lump sum and doesn't show the details of conversion. I called SCB to inquire about how the bank undertook the currency conversion but the CS staff couldn't give me an answer. It seems that SCB charged more than 1% as indicated in its T&Cs on overseas transaction. Luckily I can get reimbursement from my company.

HLB CCs are not free, but you can request to get AF waiver. I owned HLB cc many years, and I usually called them asking for waiver 2 months in advance of the AF due date every year, although I was having a home loan with HLB. It was indeed very troublesome. Finally I cancelled the cc few months ago as its cc promotion and benefit were not that great lately. Nevertheless, HLB CS is quite good.

Is the rebate promotion on overseas transactions for unlimited period or temporary in nature? On top of the rebate, does DA/CIMB VI give reward points too?

I am planning to write to SCB by attaching the statement from Alliance. The 2.76% difference is really too much!

Yes, after calling, I still needed to wait for another 3 working days.

As mentioned by some forummers, SCB no longer promotes Just1 cc. Don't know the suspension of new card issuance is temporary or forever.

Exactly the same problem I faced last time. It took 3-5 working days. What to do...you have to pay your bills using other cc and miss the 5% rebate.

Even though SCB has slashed its interest rates for savings and current accounts, I thinks its rates are still very competitive or the highest in town. Btw, why do you need to activate your Just1 current ac in Kajang since you have the Just1 cc?

It's so inconvenient! Like what I mentioned before, I don't like the way SCB issued Just1 ac which was from Kajang branch. The location is at Prima Saujana at the end of Cheras-Kajang Highway / Kajang Bypass. Didn't SCB know that Kajang is some 40km away from KL.

In general, most of the established banks would nowadays review their customers' CLs periodically based on the payment record and spending pattern. Just have to be patient awaiting the adjustment. If you don't spend that much, why do you need such CL in the 1st place?

Most customers were given instant approvals. How about issuance of cards? I heard until now some applicants still haven't received their cards.

Under certain circumstances, you can call and request for a temporary increase in CL. This would normally happen when the cardholders travel abroad, need emergency fund for hospital bills, etc. In your case, you need extra CL to purchase luxury item like LCD TV, the bank may or may not consider your request. Anyway, it is no harm to have a try.

As mentioned by some forummers numerous times, it is not the max. Having World MC or VI could easily ensure a CL of RM100k and more!

I do agree that voice of CS officers plays a major role in neutralising customers' mood. I always like to hear sexy lady voice.

Going back to SCB Just1 cc topic, my latest statement doesn't show the 3x choice points for overseas spending, even though my transactions in S'pore, Indonesia and Middle East are recorded in the statement. I inquired SCB CS about this, but the staff seemed not familiar with the promotion. He called me back, informing that the additional points will only be reflected in my next month statement.

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Added on August 12, 2009, 12:46 pmIt depends on product. My Citi Plat requires 24 swipes of any amount per annum for auto waiver of AF.

This post has been edited by winner: Aug 12 2009, 12:46 PM

1st year is FOC. Unless Citi has changed its policy.

If the points aren't shown in my next month statement, I'll write to SCB again. FYI, I've just lodged a complaint to SCB yesterday regarding the super high conversion rate they charged on my overseas transactions.

Wake up and forget about the Longines watch.

Once IN, no OUT! If you take out the money from the cc, you'll be charged an interest of 18%/annum immediately. People use cc as future money, but you use your own money 1st and lend it to cc FOC.

Do bear in mind that cash rebates from PBB also exclude utility bills payment via www.pbebank.com.