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Credit Card Foreign Exchange Rate
limeuu
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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) 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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ProxMatoR
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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... 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... which I wonder why some banks has wide range of surcharge rate rather than a fixed rate........
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matrix88
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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.
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adele123
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Dec 6 2016, 10:53 AM
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Abit late Citibank Clear Visa Card Transaction Date | Posting Date | Amount in foreign currency | Amount in MYR | Exchange Rate | Visa Rate (posting date) | Fee % | 25/05/2016 | 26/05/2016 | EUR 62.10 | 293.02 | 4.718519 | 4.607408 | 2.41% | 24/08/2016 | 25/08/2016 | GBP 520 | 2862.85 | 5.505481 | 5.375705 | 2.41% | 11/10/2016 | 12/10/2016 | GBP 355 | 1880.44 | 5.297014 | 5.172134 | 2.41% | 11/10/2016 | 12/10/2016 | GBP 238 | 1260.68 | 5.296975 | 5.172134 | 2.41% |
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
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pvateme
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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 Date | Posting Date | Amount in foreign currency | Amount in MYR | Exchange Rate | Visa Rate (posting date) | Fee % | 25/05/2016 | 26/05/2016 | EUR 62.10 | 293.02 | 4.718519 | 4.607408 | 2.41% | 24/08/2016 | 25/08/2016 | GBP 520 | 2862.85 | 5.505481 | 5.375705 | 2.41% | 11/10/2016 | 12/10/2016 | GBP 355 | 1880.44 | 5.297014 | 5.172134 | 2.41% | 11/10/2016 | 12/10/2016 | GBP 238 | 1260.68 | 5.296975 | 5.172134 | 2.41% |
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. looks like the fee from this card is on the high side. pb vs confirm on 1.25% only.
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ProxMatoR
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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 Date | Posting Date | Amount in foreign currency | Amount in MYR | Exchange Rate | Visa Rate (posting date) | Fee % | 25/05/2016 | 26/05/2016 | EUR 62.10 | 293.02 | 4.718519 | 4.607408 | 2.41% | 24/08/2016 | 25/08/2016 | GBP 520 | 2862.85 | 5.505481 | 5.375705 | 2.41% | 11/10/2016 | 12/10/2016 | GBP 355 | 1880.44 | 5.297014 | 5.172134 | 2.41% | 11/10/2016 | 12/10/2016 | GBP 238 | 1260.68 | 5.296975 | 5.172134 | 2.41% |
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. It looks fine to me tho. 1% + 1.4% = 2.414%
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sushix
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Dec 19 2016, 11:51 AM
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New Member
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Transaction Type | Aeon Gold | Transaction Date | 15 Dec 2016 | Transaction amount | ฿ 2,718.00 | Amount charged | RM 346.35 | rate | 0.127428256 | visa rate @ 15/12 | 0.125250 | Difference | 1.7% |
Transaction Type | Aeon Gold | Transaction Date | 16 Dec 2016 | Transaction amount | ฿ 1,189.00 | Amount charged | RM 151.39 | rate | 0.1273254836 | visa rate @ 16/12 | 0.125537 | Difference | 1.4% |
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ProxMatoR
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Dec 19 2016, 10:00 PM
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QUOTE(sushix @ Dec 19 2016, 11:51 AM) |Transaction Type|Aeon Gold| Transaction Date | 15 Dec 2016 | Transaction amount | ฿ 2,718.00 | Amount charged | RM 346.35 | rate | 0.127428256 | visa rate @ 15/12 | 0.125250 | Difference | 1.7% |
Transaction Type | Aeon Gold | Transaction Date | 16 Dec 2016 | Transaction amount | ฿ 1,189.00 | Amount charged | RM 151.39 | rate | 0.1273254836 | visa rate @ 16/12 | 0.125537 | Difference | 1.4% |
VISA RATE should use POSTING date, not transaction date.
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kenjixx
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Dec 22 2016, 09:07 AM
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Transaction Type | Aeon Gold | Transaction Date | 20 Dec 2016 | Posting Date | ?? no longer stated in aeon website | Transaction amount | NT 774 | Amount charged | RM109.89 | rate | 0.14197674418 | visa rate @ 20/12 | 0.140123 | visa rate @ 21/12 | 0.139877 | Difference | (0.14197674418 - 0.140123) / 0.140123 =1.3% | Difference | (0.14197674418 - 0.139877) / 0.139877 =1.5% |
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MAC-tronome
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Dec 29 2016, 03:28 PM
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Getting Started
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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
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pvateme
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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 paypal is a more secured payment gateway. it doesnt charge extra on the amount.
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MAC-tronome
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Dec 29 2016, 05:29 PM
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Getting Started
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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. 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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pvateme
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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.. 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
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adele123
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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
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blogomatic
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Jan 4 2017, 08:58 PM
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Getting Started
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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?
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pvateme
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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? 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.
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limeuu
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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.....
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pvateme
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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..... 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
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ProxMatoR
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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
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ProxMatoR
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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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