He quoted from another source.
Up to you to decide if the rate is misleading or not.

do you guys know of any multi foreign currency travel card available in malaysia? I found one new launched mobile wallet + card call Youtrip but it's based in singapore and need singapore ID document to register. Would be good for foreign country travel.. can prebuy all the foreign currencies and pay without foreign currency charges.

good sharing, but something important missed out.
see the red color text.

Saviour-V teleports in...

Heya, folks. Just made an online transaction yesterday, for USD 25.00, with my credit card.

Just curious if anyone can figure out the exchange rate used, and any charges that came with it.

Here's what I know:

Card used: Maybank Visa (Ikhwan, maybe? Not sure about that specifically)
Payment (in USD): USD 25.00
Amount charged to my card: RM 104.55

So, can anyone provide the calculations for this? I'd really appreciate that.

Saviour-V bows, and teleports out...

I think USD was around 4.08 thereabout at the time.

So for your bank to charge you at 4.18 is about right.

But if you uses Bigpay, you will be charge around 4.08. That is why, for the time being, Bigpay is the best card for foreign currency.

Is it better than CIMB Cash Rebate Plat? 2.53%-2% rebate = 0.53% fee, please advise tq
Hmm I guess 0.53% fee is the additional cost, whereas BP is 0 fee, close to XE.com rate according to previous post in this thread, so BP is the winner?

This post has been edited by Sumofwhich: Aug 24 2018, 10:27 AM

My experience. Most CC charge about 2+% overall (currency rate + charges + whatever). Some card gives 1% rebate for overseas spending so you ended up with 1+%

I have not come across CC that gives 2%. I Would like to know which one does.

AFAIK, for the time being, I don't know of any card better then BP for foreign currency spending. Sometimes slightly more and sometimes slightly less than xe.com so I consider that to be practically the same as xe.com

The CIMB Cash Rebate Plat gives 2% rebate for foreign currency spend, no?
https://ringgitplus.com/en/credit-card/CIMB...MasterCard.html

Hmm, looks like I'll stick with BP and cancel my CIMB CR Plat with the SST charges coming in soon.

Meaning we shall use cc top BP and use BP for outside?

RM 30 monthly cap.

CIMB used to have 1% unlimited rebate and discount for KLIA duty free shopping. They have stopped all that and that's why nowadays I don't use it.

BP now have 0% fee. Once they start implementing that 1% and we don't know when, may be then look for another deal.

That's what I did. And I like their apps for tracking expenditures.

One slight downside is, mine doesn't have this paywave feature.

So total additional CC charges are 1-1.5% (bank admin fee) + 1% forex rate?

I’m thinking of using monzo (BP equivalent) for traveling in Europe. They said no additional fee on top of master card rate. Trying to figure how much I will save if I use it.

if is bigpay equivalent, basically you are making a topup transaction, making it a prepaid card. so that would be the reason why no additional charges.

CIMB WORLD MASTERCARD
Date: 4 sep 2018
Transaction: USD 10 / MYR 42.19
CIMB Fee: 2%

Sorry off topic...how to calculate fee for atm money withdrawal?

Which bank? Depends on ur bank, normally RM12 per withdrawal

I want to make a purchase online in foreign currency. The site accepts AMEX.

Is it suggested to use BigPay or is the M2C Amex a bit better?

Heard this from a friend who has foreign currency accounts with Citibank. He said the debit card can be switched/linked to to a FCA.

By default, the debit card is linked to MYR current/saving account.
However, you can call customer service to switch the debit card to a FCA , i.e. USD account, just before your travel or online purchase. You need call CS to switch the card back to MYR account later. Need to maintain at least $3000 or equivalent in FCA to avoid monthly fee though.

hi guys, i will be moving abroad for an employment.

However i have fixed cost and housing loan in MYR (Citibank and RHB)

I will be earning Euro with a different foreign bank soon.

Is it recommended to transfer straight from a foreign bank (Euro) to Citibank and RHB in MYR? Any better alternatives to pay my bills and housing loan?

Thanks.

TransferWise could be a better option. There are already many threads on TW here under Finance, Business and Investment section.