Yup..
I just realised its DCC which is a scam...

Remember to mention to the merchant to charge in LOCAL CURRENCY (eg. not RM) before let them take your card to prevent any issues after they swap the card...
Do not agree to pass them you card if they refuse to charge in Local Currency.
So far this worked in Phuket Thailand, where there is no DCC transaction so far for around 10 transactions made over there and by asking the merchant in prior to charge in Thai Bath..

This post has been edited by sjz: Aug 23 2013, 07:28 PM

OCBC MASTERCARD TITANIUM
Transaction date : 22-Aug-2013
Posting date : 24-Aug-2013
EUR 25
RM 112.09
Exchange rate : 4.4836

Maybankard 2 MasterCard GOLD
Transaction date : 22-Aug-2013
Posting date : 24-Aug-2013
EUR 25
RM 112.10
Exchange rate : 4.484

Maybankard 2 MasterCard AMEX
Transaction date : 22-Aug-2013
Posting date : 23-Aug-2013
EUR 25
RM 113.42
Exchange rate : 4.5368

can't believe the rate for M2 Master is now higher than OCBC Master

I already mentioned this few months back

either MBB has increased their rate or OCBC become better

Rate
USD 2.79 Amex MYR 9.40 3.3692
USD 36.66 Ocbc MYR 122.29 3.3358

Been monitoring my spending charged in foreign currency in the past 3 months, it is definitely because MBB has increased their rate/admin charge. Everything was still fine until end of July

Online - Amazon:

Posted Date : 14 Aug 2013
Amount charged : USD 68.77
Converted Amount : MYR 229.41
Final Exchange rate: 3.3359

Rate on Visa International: USD 1 = 3.254 MYR

2.5% charge only for this transaction.

Can shed some light why it is a scam? They charge you higher?

yup...their exchange rate is always about 5% mark up from the prevailing rate...
and the merchant get a share of comision with the DCC fees u pay..
and some credit card issuers still charge 2% (1% by Visa, 1% by bank) even u use DCC!!

The other day I get my card charge in Japan but instead of Yen it was charged in USD. Is this DCC as well? Well on the receipt it showed Yen but then the bank SMS showed USD.

yup...i think it should be DCC...
the receipt does it got some long word like
"i am offered a choice to pay in local currency and i agree to pay in local currency with the Visa/Master reference rate and mark up stated clearly"

I'm not sure as the receipt is in Japanese. Well can't do much but it seems converting to USD is more or less the same

yup...
u won't lose a fortune....since its just less than 5% difference (usual bank charge 2%, DCC won't be more than 7-8%).....
but the figures would add up if every transaction is in DCC overseas..

This post has been edited by sjz: Sep 9 2013, 01:13 PM

Maybankard 2 VISA gold
Posting date : 09-Sep-2013
Transaction date : 08-Sep-2013

Amount charged : US$110.84
Converted Amount : RM374.93
Exchange rate: 3.3826

ffuuuuu

I though MBB Visa/Master CC exchange rate suppose to be visa/master exchange rate + 1%?
( the 1% charges is confirmed by the MBB CS when I call them up to check)
Based on your posting date, the visa rate should be 3.3411 (included 1%)

ah ic.. thanks

While Maybank claims it is only 1%, we all know that it is more than that. That is why the final exchange rate he got is RM3.3826.

hi guys
is it better to use cash(enough for non CC service) + MC at US or all cash at US

Basically since Aug-01 it has been observed that MBB now charges much higher exchange rate fees and prior to that it was 1.25% above the rate @ posting date (modelled from data mining) and not 1%.

Visa rate on Sep-9 = 3.308000
MBB rate = 3.3826

Effective new MBB charge = 2.25%

Edit: Typo - rate should be 2.25%

=(3.38262360158787-3.308)/3.308

This post has been edited by zenquix: Sep 10 2013, 05:14 PM

yeah. it seems like mine was around 1.2%

This post has been edited by 0 Replies to me (BETA): Sep 10 2013, 05:01 PM