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 Credit Card Foreign Exchange Rate

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jchong
post Nov 11 2017, 10:01 PM

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QUOTE(eeeglow24 @ Oct 19 2017, 09:35 PM)
Transaction Type: Maybank2 Visa Gold
Transaction Date: 16/10/2017
Posting Date: 18/10/2017
Transaction amount: USD 53.75
Amount charged: RM 232.31
Visa US Rate @ posting date: 4.226577
Bank Fee : 2.26%
Calculation based on posting date, confirm the fees was ~2.26 as per page 1.
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I recently did some transactions in EUR and Maybank Visa fees was also 2.26%
jchong
post Jan 23 2018, 09:46 AM

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QUOTE(rainbird @ Jan 22 2018, 01:54 PM)
Just charged 100usd to my maybank visa cc today, I'm trying to understand how maybank calculate the 2.5% forex charge. Based on the table in the link, which usd rate does maybank take to calculate?
https://usa.visa.com/support/consumer/trave...alculator.html/

http://www.maybank2u.com.my/mbb_info/m2u/p...ntKey=BTRE04.01
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It's based on the rate on Visa's website as at the posting date. For Visa, Maybank would add 2.26% I think (not 2.5%).
jchong
post Mar 10 2018, 10:19 AM

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QUOTE(Human Nature @ Feb 22 2018, 12:41 AM)
what if we have the option to select currency for online payment, eg. airbnb?  hmm.gif
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I think still better to choose the foreign currency rather than RM.

QUOTE(SamD @ Feb 27 2018, 08:45 PM)
Transaction Type        BankRakyat Platinum Mastercard
Transaction Date        20/2/2018
Posting Date                21/02/2018
Transaction amount        USD 936.48
Amount charged        RM 3,661.54
Mastercard rate @ 0%       US 1 = RM 3.901955
Bank rate                        US 1 = RM 3.901955
Difference                        0%   rclxms.gif  rclxms.gif  rclxms.gif
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Your bank rate of 3.901955 is not correct. It should be 3661.54/936.48 = 3.90989 (or 3.9099 if you round to 4 decimal places).

This would match back with the Mastercard rate @ 0% as at the posting date (not transaction date) of 3.9099.

End result is still same, BankRakyat Platinum Mastercard does not charge any forex fees. rclxms.gif
jchong
post Mar 12 2018, 11:24 AM

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Anybody know if there is another card like the Bank Rakyat one which has 0% markup on forex?
jchong
post Apr 29 2022, 11:21 AM

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One card I like to use for overseas transaction is Public Bank Visa Infinite Credit Card, since it gives 2% cashback for overseas retail purchases (cap at RM80 per month).

PBB does charge 1.25% fee above the Visa rate, but with the 2% cashback the net rate is actually below the Visa rate and even a bit below XE rate.

So this card is quite good for overseas spending up to equivalent RM4k per month.

But I'm still looking for another card to cover overseas spend above 4k. Bigpay is looking quite attractive for this. Used to be that Bigpay charged 0% fees but I saw on another thread some users said lately they have a small fee like 0.5%. Any BP users can confirm?

This post has been edited by jchong: Apr 29 2022, 11:25 AM
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