you don't have to worry much about Aeon, it's always 1% overseas

Sometimes, i really confuse how they actually calculate the rate. Using the same formula, I got a lower rate on admin fee from PB VS card, on NZD transaction.

Transaction Type	PB VS
Transaction Date	13/10/2016
Posting Date	13/10/2016
Transaction amount	NZD 180.00
Amount charged	RM 540.53
bank rate	3.002944444
visa rate	2.982273
Difference	0.69%

if your "bank rate" refers to what is listed in the bank's forex list, it's a rate with margin already built in, ranging from 2-4%....

the actual reference rate should be the median rate on the day of posting...which you can get from online sites like xe, etc...another way, less accurate, is to calculate the median rate from the buy and sell price in the bank's forex list...simply add the 2 figures together and divide by 2....

the visa/mc rate has already a margin of about 1% built in...

so, say for the nzd today...median rate is 2.98....visa will list as 3.01....you calculation may show 3.06, maybank forex say 3.054....you go klia and change 3.25....you go mvm change 3.00....

i m calculating the % of bank charge on top of the visa / master published rate.
the bank rate refers to the actual bank charge in RM / my NZD amount.

i m tracing these to see which bank has lower bank charge on foreign tx in order to make max saving when swiping in overseas.

the one i m confusing now, is, i dont see the bank always charge the same % on top of the published visa rate on publi bank visa card. unless my calculation is wrong.

This post has been edited by pvateme: Oct 15 2016, 10:40 AM

in which case, it's .69% over visa rate, which is not bad...since visa rate is already about 1% above median rate, the real spread is only 1.69%, which is good....maybank is 3%!!

and yes, the actual spread is not always accurate, for most banks....not sure why...

En. that means that is no formula for us to calculate and decide which bank offer the lowest rate?

The bsnk will have a system of calculation...we don't know their system, and only attempt to guess by calculating based on examples...

In some countries, they are required to tell you exactly how they calculate....eg UK bank are mandated to explain their calculations..... and their statements show that clearly...

tried many times d, PBVS is at 1.25%

This post has been edited by DarReNz: Oct 16 2016, 03:03 PM

thanks for the confirmation.
may be my source of data is wrong. not very sure on that till i get my statement. on other times using pb vs, yes it is 1.25%.

Hi,

Quick question anyone here knows the charges of using Maybank Visa CC when overseas?
Is a 5% discount worth it to use it overseas or will the currency conversion and miscellaneous charges will offset and making it more expensive.

Lets say purchase of;

10,000 Yen & 5% Discount (Visa)
=9,500 Yen (RM380, 100 Yen=RM4)

Thanks.

Hello,

Charged US 14.14 on 15th Oct and cr card amount deducted RM60.29 (manual calculation after deduct from cr limit) via Ambank Visa Platinum. Hows the calculation done? Direct from conversion is 4.26379.

DarReNz limeuu

This post has been edited by CP88: Oct 17 2016, 04:30 PM

is 15th Oct your posting date ?

The maybank rate is generally 3% above median rate....so you are still 2% ahead....

No posting found on Ambank online yet. 15th Oct was my transaction date.

Wait for posting date. The rate is determined by the visa rate on posting date....

MilesandMore

Yeah I have not been following this thread as well.

Maybe the recent contributors can help update the table

Local Banks
- Maybank VISA/MasterCard : 2.26%
- Maybank American Express with Maybank logo on top : 2.8-3%
- American Express : 2.8 -3%
- CIMB Bank :
- Public Bank : 1.25%
- RHB Bank :
- AmBank :
- Hong Leong Bank VISA/MasterCard:
- EON Bank :
- Affin Bank :
- Alliance :
- Aeon:

Foreign Banks
- HSBC :
- OCBC bank :
- Standard Chartered :
- UOB Bank :
- Citibank :

I am going to oversea this week.

I only have
1. Maybank 2 cards, Amex and Master
2. Aeon Visa
3. UOB Vox
4. Public bank visa signature
5. CIMB cash rebate

I have no time to get another credit card now.

Which one should I use?

Appreciate your suggestion.

Noticed recommendations recently are Aeon and PBVS

Okie. Logged into my account and got the following:-



The one posted on 17th Oct was $6.20 while the one posted on 18th was $7.94. Hows the rate determine? Thanks.

DarReNz, limeuu

This post has been edited by CP88: Oct 19 2016, 10:39 PM

check the visa rate from here: https://usa.visa.com/support/consumer/trave...calculator.html

if we look at your transaction posted on the 17/10/16, i presume it's for usd, and usd7.94 was converted as myr34.20...

a myr cc paying in usd is charged by visa (17/10) at 4.221578.

on the same day, a usd cc paying in myr is charged 0.238526, or a usd/myr rate of 4.192415....the median rate is thus 4.206997....giving a spread of 0.3466% both ways...that's visa's "profit"...

you were charged myr34.20, and that gives a rate of 4.307305...

calculating based on visa given conversion rate, the extra you paid is (4.307305-4.221578)....divide by the visa rate, gives you 2.03%....that's what the bank charges....

calculating based on visa median rate (ie the REAL rate on that day). you get 2.36%....that's the REAL extra charges imposed, by all parties involved...