Yes ... a rough estimate would be like that. Note that several forummer have posted this info before ... the final amount would not be precisely @ 0.5%, it will be a number between 0.5%-0.8% perhaps. Why and how this occurs ... I have no idea. The actual calculation method/breakdown is only known to the bank. Even calling the CS would not help as they have no visibility over the actual breakdown.

Thanks Hye
MBB is my only choice of CC if I ever to spend overseas via CC. Since it has the lowest admin charge compare to other bank cards that I own.


This post has been edited by Shinichi: Sep 13 2009, 03:01 PM

if you bought things on a website that charges a foreign currency the overseas transaction charge does not apply right ?

This post has been edited by DarReNz: Sep 13 2009, 06:40 PM

Alliance bank 0% charge

it applies if not mistaken
anything in foreign currency will incur the charges

Thanks bro, but too bad I do not own Alliance bank CC.
I'll settle with my MBB Petronas then.

On my Ikea Friends Visa (issued by Alliance) seem to have 1% charge. Notice the exchange rate similar to my Direct Access (1% charge) when spending in AUS

Hi all, anyone know if Prudential accepts Amex CC for monthly premium payment?

To be precise ... anything not in MYR and outside of Malaysia will incur the charges. Anyway I have yet to see any merchant in Malaysia not charging in MYR.

Yes ... Alliance Bank is perhaps the only cc issuer in Malaysia issuing 0% fees for overseas transactions. CIMB went out of the list a few months ago when they started charging 1% fee on top of your transactions.

Pridential do not accept Amex. I think most insurance companies here do not accept AMEX.


When was this? As hye said CIMB only recently started charging 1%.

In 2 weeks time when I get my statements for Alliance Visa Plat, MBB Petronas Gold and Direct Access Visa Infinite (where I should get 1& rebate for overseas transactions) I will post my transactions in US last month for comparison.

Exception will be given to Etiqa insurance.

Just to put up a mention here.
You can actually convert your purchases in SCB to 12 months easy payment inside their internet banking system.

Each retail transaction has to be at least RM500 and transacted in the last 30 days to be eligible for FlexiPay.

How to Apply?
To apply, simply select from the list of eligible transactions below and submit your request via Internet Banking. Your request will be processed within 5 - 7 working days.

Terms & Conditions
1. All FlexiPay Application submitted before 3.00pm (Monday - Friday) will be processed on the same business day. Any application submitted on a public holiday, Saturday and Sunday will only be processed on the next working day.
2. Please note that the Monthly Installment Amount (MYR) shown above are indicative and the amount charged and reflected on the statement may differ due to rounding differences or other reasons, as applicable.
3. Maximum conversion amount is RM40,000 per transaction.
4. The calculation of interest charge will be as follows:-
5. Flat interest of 7.99% p.a. (12 months FlexiPay)

This post has been edited by hye: Sep 14 2009, 09:16 AM

Has anyone used this card to wine and dine in hotel? Even if one doesn't dine in restaurant in the hotel, but he/she orders non-halal drink to be sent to his/her room and charges the bill to the room, can the total hotel room bill be settled by using this card during check out? If the card is so strict to non-halal items only, then it can't be used in most of the hotels. Even 5-star hotels in Middle East also serve non-halal food and drink. But I don't think the card is so "intelligent" in detecting this, especially purchases in overseas.


I look forward to your update. Alliance should be the winner again. If you can post the rates charged by Amex vs others, it would be helpful.

This post has been edited by winner: Sep 14 2009, 09:46 AM

last weekend, im just paid USD 10% booking fee for the hostel in SG.

the exchange rate charged by the Citibank was 3.59, while the exchange rate on 4 Sept was 3.529 and 7 Sept was RM3.513 which im tracking on it.

btw, want to ask, if im using OCBC CC spend in the SG, will the exchange rate is lower compared to other bank?

Although OCBC is a Singaporean bank, it doesn't mean that you will get a lower conversion rate when you use the cc in Singapore, as your OCBC cc is issued in Malaysia. The admin fee on currency conversion will also apply.

That is funny....I called Alliance a few weeks ago and they told me they do not add the 1% charge.

---

Added on September 14, 2009, 10:47 amBank Negara record for 4-Sep was 3.5305. So your 3.529 was even cheaper. Truly excellent.

Bank Negara for 7-Sep was 3.5175. So your 3.513. Again, truly excellent.

While these rates are mere indicative, it is certainly food for thought and may be one reason why I might want to avoid AMEX.

BTW, your citibank is VISA?

If your OCBC is also VISA, then it should be the same. The conversions are done by VISA or MC, NOT the bank itself.




This post has been edited by Optiplex330: Sep 14 2009, 10:47 AM

If you read vin_ann's post carefully, the excharge rate shown in Citi cc was actually 3.59 vs the actual forex rate of around 3.52. Therefore, the rate was in fact higher as the admin fee has been taken into account.

i think wat he meant was Citibank charge him 3.59 but the market rate out there is only 3.5305 .... no?

which rate for bank negara are you using? mid rate? buying or selling?

the rate im quoting are from Reuters.

like now as at 1.43pm the USD:RM are at 3.5000

checking from Bank negara now, the selling rate is 3.5010

Hi,

I have not or never used a cc before,so i am planning to apply a cc soon.

Can anyone here recomend me one which is less hassle and require the lowest mininum income?

Thanks in advance