Jul 27 2017, 12:11 AM
QUOTE(Tsting @ Jul 20 2017, 10:09 PM)
Noob Question.
Did a transaction last week, on a world master card.
Using https://www.mastercard.us/en-us/consumers/g...t-currency.html
IF I set the bank fees to 1.9%, it will match the cost of item and what is shown on my statement.
Does this already include the 1% foreign exchange charge by mastercard?
So it is 1% + 0.9% bank charge?
Seems decent enough? (Not as good as ambank WMC i know)
Basically 1% is typical admin charges by bank. then, there is another bank forex rate charge, which varies from bank to bank... can be 0.5% to 1.5%...Did a transaction last week, on a world master card.
Using https://www.mastercard.us/en-us/consumers/g...t-currency.html
IF I set the bank fees to 1.9%, it will match the cost of item and what is shown on my statement.
Does this already include the 1% foreign exchange charge by mastercard?
So it is 1% + 0.9% bank charge?
Seems decent enough? (Not as good as ambank WMC i know)
So, usually we don't just add up like that, because that forex charge also included that 1% admin charge, but that doesn't differ much by direct adding (e.g. 1+1.5=2.5)
QUOTE(pisang @ Jul 21 2017, 05:47 PM)
i think we take the
online mastercard rate+ bank charges= amount shown in statement.
in your case, the bank charges is 1.9%.
Pls correct me if i'm wrong.
usually mastercard/visa rate is just the base rate.. we need to add admin fee/charge, then forex charge of the bank... so yeah, you are right, bank charges in this case is 1.9... and assuming it is 1% admin fee + 0.9% forex charge...online mastercard rate+ bank charges= amount shown in statement.
in your case, the bank charges is 1.9%.
Pls correct me if i'm wrong.
QUOTE(KeSToN @ Jul 22 2017, 06:37 PM)
hmmm
i made a transaction on 19 July for USD $ 50.39 on aliexpress using CIMB CR MC
today i check cimb clicks -> 21-Jul-2017 19-Jul-2017 WWW.ALIEXPRESS.COM LONDON GB RM220.27
21 july is the posting date
19 july is the transaction date
https://www.mastercard.us/en-us/consumers/g...t-currency.html
using the above website
for transaction date of july 19, bank fee of 2% USD50.39 = RM220.27 (exact amount charged to my cc)
if i use July 21 posting date,
bank fee of 2% amounts to RM220.50
bank fee of 1.89% amounts to RM220.26
bank fee of 1.90% amounts to RM220.28
cant get the exact amount of 220.27
did i get the calculations right?
so the calculation should be based on the posting or transaction date?
edit : typo
yeah, usually there is minor ups and downs, few cents diff based on my experience (most of the time is lower). we shall follow posting date, as that is the date where bank officially post this transaction..i made a transaction on 19 July for USD $ 50.39 on aliexpress using CIMB CR MC
today i check cimb clicks -> 21-Jul-2017 19-Jul-2017 WWW.ALIEXPRESS.COM LONDON GB RM220.27
21 july is the posting date
19 july is the transaction date
https://www.mastercard.us/en-us/consumers/g...t-currency.html
using the above website
for transaction date of july 19, bank fee of 2% USD50.39 = RM220.27 (exact amount charged to my cc)
if i use July 21 posting date,
bank fee of 2% amounts to RM220.50
bank fee of 1.89% amounts to RM220.26
bank fee of 1.90% amounts to RM220.28
cant get the exact amount of 220.27
did i get the calculations right?
so the calculation should be based on the posting or transaction date?
edit : typo
QUOTE(francistcc @ Jul 26 2017, 07:16 PM)
Recently just found out bank rakyat cc don't have any admin or oversea charge for oversea transaction.
which card?This post has been edited by ProxMatoR: Jul 27 2017, 12:14 AM
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