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 Credit Card Foreign Exchange Rate

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limeuu
post Dec 2 2016, 04:02 PM

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QUOTE(ProxMatoR @ Dec 2 2016, 03:04 PM)
yeah, genx's reader (or iFriend) wrote an article that his AM World MC has just 1% (refer here). But it is unknown on AM VI, but should be also just 1% since both are enjoying equivalent benefits? (since their AM VI Priority is only available in VI, no master)
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Based on experience, the bank surcharge rate is different between visa and mc....

The benefits provided are the same, but that is not the same as surcharges...why they should be different I have no idea...
ProxMatoR
post Dec 3 2016, 02:21 PM

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QUOTE(limeuu @ Dec 2 2016, 04:02 PM)
Based on experience, the bank surcharge rate is different between visa and mc....

The benefits provided are the same, but that is not the same as surcharges...why they should be different I have no idea...
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I guess that's about the corporation within AM and MC/VISA? these years MC is pretty aggressive, maybe that's why giving AM adv compared to VISA? hahaha... rclxm9.gif

which I wonder why some banks has wide range of surcharge rate rather than a fixed rate........
matrix88
post Dec 6 2016, 01:47 AM

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my experience travelling, Citibank gives quite good rate but Stanchart gives bad rates, sometimes higher than Citibank by 0.15 cents.
adele123
post Dec 6 2016, 10:53 AM

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Abit late

Citibank Clear Visa Card
Transaction DatePosting DateAmount in foreign currencyAmount in MYRExchange RateVisa Rate (posting date)Fee %
25/05/201626/05/2016EUR 62.10293.024.7185194.6074082.41%
24/08/201625/08/2016GBP 5202862.855.5054815.3757052.41%
11/10/201612/10/2016GBP 3551880.445.2970145.1721342.41%
11/10/201612/10/2016GBP 2381260.685.2969755.1721342.41%

My calculation is based on posting date. If I use transaction date, a different fee % for transactions of different date. Looks like Citibank I managed to get the transaction fee across 3 dates and 2 currencies. Repost my May transaction for comparison.


This post has been edited by adele123: Dec 6 2016, 11:03 AM
pvateme
post Dec 6 2016, 12:00 PM

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QUOTE(adele123 @ Dec 6 2016, 10:53 AM)
Abit late

Citibank Clear Visa Card
Transaction DatePosting DateAmount in foreign currencyAmount in MYRExchange RateVisa Rate (posting date)Fee %
25/05/201626/05/2016EUR 62.10293.024.7185194.6074082.41%
24/08/201625/08/2016GBP 5202862.855.5054815.3757052.41%
11/10/201612/10/2016GBP 3551880.445.2970145.1721342.41%
11/10/201612/10/2016GBP 2381260.685.2969755.1721342.41%

My calculation is based on posting date. If I use transaction date, a different fee % for transactions of different date. Looks like Citibank I managed to get the transaction fee across 3 dates and 2 currencies. Repost my May transaction for comparison.
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looks like the fee from this card is on the high side. pb vs confirm on 1.25% only.
ProxMatoR
post Dec 16 2016, 10:01 PM

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QUOTE(adele123 @ Dec 6 2016, 10:53 AM)
Abit late

Citibank Clear Visa Card
Transaction DatePosting DateAmount in foreign currencyAmount in MYRExchange RateVisa Rate (posting date)Fee %
25/05/201626/05/2016EUR 62.10293.024.7185194.6074082.41%
24/08/201625/08/2016GBP 5202862.855.5054815.3757052.41%
11/10/201612/10/2016GBP 3551880.445.2970145.1721342.41%
11/10/201612/10/2016GBP 2381260.685.2969755.1721342.41%

My calculation is based on posting date. If I use transaction date, a different fee % for transactions of different date. Looks like Citibank I managed to get the transaction fee across 3 dates and 2 currencies. Repost my May transaction for comparison.
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It looks fine to me tho. 1% + 1.4% = 2.414%
sushix
post Dec 19 2016, 11:51 AM

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Transaction TypeAeon Gold
Transaction Date15 Dec 2016
Transaction amount฿ 2,718.00
Amount chargedRM 346.35
rate0.127428256
visa rate @ 15/120.125250
Difference1.7%

Transaction TypeAeon Gold
Transaction Date16 Dec 2016
Transaction amount฿ 1,189.00
Amount chargedRM 151.39
rate0.1273254836
visa rate @ 16/120.125537
Difference1.4%
ProxMatoR
post Dec 19 2016, 10:00 PM

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QUOTE(sushix @ Dec 19 2016, 11:51 AM)
|Transaction Type|Aeon Gold|
Transaction Date15 Dec 2016
Transaction amount฿ 2,718.00
Amount chargedRM 346.35
rate0.127428256
visa rate @ 15/120.125250
Difference1.7%

Transaction TypeAeon Gold
Transaction Date16 Dec 2016
Transaction amount฿ 1,189.00
Amount chargedRM 151.39
rate0.1273254836
visa rate @ 16/120.125537
Difference1.4%
*
VISA RATE should use POSTING date, not transaction date. smile.gif
kenjixx
post Dec 22 2016, 09:07 AM

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Transaction TypeAeon Gold
Transaction Date20 Dec 2016
Posting Date?? no longer stated in aeon website
Transaction amountNT 774
Amount chargedRM109.89
rate0.14197674418
visa rate @ 20/120.140123
visa rate @ 21/120.139877
Difference(0.14197674418 - 0.140123) / 0.140123 =1.3%
Difference(0.14197674418 - 0.139877) / 0.139877 =1.5%


MAC-tronome
post Dec 29 2016, 03:28 PM

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guys..will the charges same if say i purchase something in USD.

Scenario 1: payment made via paypal using UOB YOLO card

Scenario 2: direct payment using UOB Yolo card

Is it the same? thanks
pvateme
post Dec 29 2016, 04:13 PM

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QUOTE(MAC-tronome @ Dec 29 2016, 03:28 PM)
guys..will the charges same if say i purchase something in USD.

Scenario 1: payment made via paypal using UOB YOLO card

Scenario 2: direct payment using UOB Yolo card

Is it the same? thanks
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paypal is a more secured payment gateway. it doesnt charge extra on the amount.
MAC-tronome
post Dec 29 2016, 05:29 PM

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QUOTE(pvateme @ Dec 29 2016, 04:13 PM)
paypal is a more secured payment gateway. it doesnt charge extra on the amount.
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hi thanks ..but even the forex rate ? paypal will use their own forex rate vs or the credit card bank forex rate? hmph..
pvateme
post Dec 29 2016, 05:54 PM

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QUOTE(MAC-tronome @ Dec 29 2016, 05:29 PM)
hi thanks ..but even the forex rate ? paypal will use their own forex rate vs or the credit card bank forex rate? hmph..
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paypal will only charge based on the amount that the web application sent in. the web application will call the paypal API with the amount, for eg in your case, in USD. the bank that issue the card which you have tied in your paypal account is the one that decide on the final amount in RM.

the final amount in RM, is calculated based on the rate published by AMEX / VISA / MASTER + admin fee / charges imposed by the bank whom issued your card.

This post has been edited by pvateme: Dec 29 2016, 05:55 PM
adele123
post Dec 29 2016, 11:58 PM

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Uob yolo platinum
Transaction date 26/12/2016
Posting date 28/12/2016
Amount SGD34.95
Bank charged rm111.00
Visa rate @28/12/2016 3.098751
Bank charge 3.17597
Bank rate 2.5%

Cimb cash rebate platinum
Transaction date 26/12/2016
Posting date 27/12/2016
Amount sgd34.95
Bank charged 110.29
Master rate @ 26/12/2016 3.093723
Bank charge 3.15565
Bank rate 2%

ProxMatoR based on my observation, cimb consistently charges me 2%. My calculation is based on a previous explanation but a forummer here too.

This post has been edited by adele123: Dec 30 2016, 12:02 AM
blogomatic
post Jan 4 2017, 08:58 PM

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based on this thread, can i safely conclude that mastercard rate is better than visa?

what about banks? cimb mc, maybank mc, maybank visa, hong leong visa or ambank visa?
pvateme
post Jan 4 2017, 11:22 PM

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QUOTE(blogomatic @ Jan 4 2017, 08:58 PM)
based on this thread, can i safely conclude that mastercard rate is better than visa?

what about banks? cimb mc, maybank mc, maybank visa, hong leong visa or ambank visa?
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for your first question:
I did a study for a period of 2 weeks on VISA vs MASTER rate, and, yes, I do think master rate is better.
limeuu
post Jan 5 2017, 08:26 AM

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I don't think MC is necessarily always better than visa....Just that some bank's MC gives good rates....Like ambank's world MC.....
pvateme
post Jan 5 2017, 09:41 AM

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QUOTE(limeuu @ Jan 5 2017, 08:26 AM)
I don't think MC is necessarily always better than visa....Just that some bank's MC gives good rates....Like ambank's world MC.....
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what i mean is, the published master rate by master company, comparing to visa rate. i m purely checking nzd that ime, not sure about other notes. not tie to any bank's admin fee yet.

2017-01-04 Rate of NZD 1 : MYR
Master: 3.11
Visa: 3.135534

This post has been edited by pvateme: Jan 5 2017, 09:48 AM
ProxMatoR
post Jan 7 2017, 11:02 AM

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Local Banks
- Maybank2C VISA/MasterCard : 2.26% (~ 1% + 1.25%)
- Maybank2C AMEX : 2.5%
- Maybank American Express with Maybank logo on top : 2.8-3%
- American Express : 2.8 -3%
- CIMB Bank : (cashback plat) 2.53% (should be ~ 1% + 1.5%)
- CIMB BANK (MC) 2%
- Public Bank : 1.25%, (visa signature) 1.0125%
- RHB Bank : (master plat) 1.02%
- AmBank :
- Hong Leong Bank VISA/MasterCard:
- EON Bank :
- Affin Bank :
- Alliance :
- Aeon: (gold) 1.5% (watami) 0.8-1.2%

Foreign Banks
- HSBC : (visa plat) 2.27% (should be ~ 1% + 1.25%)
- OCBC bank :
- Standard Chartered :
- UOB Bank : (YOLO) 2.5%
- Citibank : 1% + 1.4% (= 2.414%)
(if SGD, it is just 0.5%. surprising)

Wonder if anyone has citibank MC card for us to compare... haha
ProxMatoR
post Jan 7 2017, 11:07 AM

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adele123 surprised that UOB is from SG, but they still charge 2.5% if you spend in SGD, unlike CITI, charge only 0.5%......

This post has been edited by ProxMatoR: Jan 7 2017, 11:08 AM

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