I tried out the GXBank Mastercard and found that it indeed has no fees, same to the SCB JumpStart. Both offer the Mastercard rate without any fees, making them equal.

The RHB MCA's exchange rate closely aligns with the Mastercard rate, though slight variations may occur due to currency fluctuations.

Considering the cashback benefits, I'd prefer using either SCB JumpStart or GXBank for payments.

gx should be superior with the 1% cashback

Scb got 5% CB on online transactions.

haha true, but i have other purposes for that d.

hello, planning to buy something online in yen. taking into account of 8% cashback using amex islamic, it should be worth taking the 2.5% extra fees right?

You need to make sure the payment transaction go through Online verification, not the Japanese merchant direct debit your Amex-i account.

hmmm i see. will check it out. thanks.

Use Maybank Amex (5% weekend CB) is safer.

Please be aware that the forex rate offered by Amex is the worst compared to all other card networks.

it is highest. therefore never use amex when oversea or use for other foreign currency purchase

AMEX is under maybank. i assume maybank has pretty high exchange rates as well?

just an update.

made a 7220 yen online purchase on sunday.

google rate = 230.01, xe.com = 230.29

amex ikhwan = 236.88

so markup total about 3% , covered with the 8% card cashback

American Express sets its exchange rates, and Maybank applying additional fees on top of it.

walao wei. thanks for sharing. gonna make another overseas payment today. probably will use my aeon credit card instead.

Though AMEX may charge higher, but you may get 5x Treatpoints (worth 1%) vs. 1x Treatpoint (or 0.2% CB) for using Visa/MC.

TNG Visa & Wise (TransferWise) Visa Debit can give cheaper rate, better than using Visa/MasterCard credit card.
e.g. S$2
TNG Visa RM7.06
Wise Visa Debit RM7.09
Public Bank Visa Credit RM7.15

CC - confirmed higher 2% -2.5%
debit card - depend.
gxbank - zero fees + give u 1% cashback
wise - some 0.xx% fees

This post has been edited by ericlaiys: Mar 14 2024, 12:07 PM

thanks for sharing the figures.

If you check out the replies here, you'll see that SCB JumpStart and RHB MCA have the best forex rates going, and now GXBank has just stepped up to offer rates as good as SCB JumpStart's.

These three currently offer the most competitive forex rates in the market.

gxbank better as got 1% cashback. dont forget u get 3% pa - daily bank in for saving money inside
SC jumpstart - no 3% pa interest. very low interest if put money inside

This post has been edited by ericlaiys: Mar 14 2024, 08:27 PM

Gxbank is promo until 31st Dec. After that got charged 1.2%