@ the current high MBB exchange rate (sry no datapoints for MC yet). the points (0.4% value) will not cover it. Thus I would go for cash if you get a good rate for it.

Consider Amex on weekends with the 5% rebate if it is still available. Would only use CC for the convenience or if the USD rate dropped to below your cash rate.

mean the MBB CS is not updated? I just called them today to check it out

some additional data points

July 2013 = 1.25%
Aug-2013 = 2.25%
Sep-1 2013 = 2.25%

Very clearly they bumped it up in August to 2.25%. Hope they did not just suddenly bumped it on Sep 9 onwards. If anyone have more datapoint, do share it. Need the posting date and rate.

Edit: had a typo in the previous rate

This post has been edited by zenquix: Sep 10 2013, 05:17 PM

Hi,

I am sharing some of the transaction done with MBB Visa :-



and below the exchange rate from VISA with transaction fees of 2.2%.



So what will be the exchange rate for the day if exclusive of the 2.2% transaction fees?


Hi Bro zenquix,

This post has been edited by CP88: Sep 10 2013, 10:08 PM

based on my July transaction statement using my MBB MC

posting date 29/7
Trans date 28/7

THB 1848 -> RM193.47 So the rate would be 1THB = RM0.104691

Based on MasterCard website currency conversion on 29/7 1THB = RM0.102691

(0.104691-0.102691)/0.104691 roughly 2%

This post has been edited by virgoguy: Sep 11 2013, 12:14 AM

MBB Master charge rate 2%
MBB Amex charge rate 2.5%

If really come to the point that for the sake of convenience, might as well use MBB Amex which come with 5X treat point instead of MBB Master(which used to be so call the lowest charge rate for oversea conversion)to cover the lose even though it is not on the weekend

This post has been edited by virgoguy: Sep 11 2013, 12:32 AM

thanks for the data point

Previous analysis showed Mastercard was based on transaction date rates with a 1% markup. However rates for 28/7 not available so we use 29/7. Base is MYR.

1 MYR = 9.625552THB ~ 1THB = 0.1038901457287852

The above transaction was 1 MYR = 9.551868506745232THB ~ 1THB = 0.104691556864047

Thus the rate charged is 0.1046916-0.103890 / 0.103890 = 0.7% (not 1% as it is not based on the rates of 28/7)

So the rate is still low in July for MC. If we can get datapoints for Aug onwards....

i won't be surprised if Amex has been marked up as well

I use the 0% rate on the visa website. One reason is because the admin fee input only takes one decimal point and skews calculations

The MBB rate is based on the posted values in our CC statement, not the TT rate (totally different side of the business). If they charged us TT rates, might as well not use CC overseas

So using your transaction snapshot

I take the 0% exchange rate for 7-Sep at 0%, My Card in MYR, My Transaction in THB:

1 Thai Baht = 0.102818 Malaysian Ringgit

So your transaction is THB3000 = MYR315.41
THB1 = 0.1051366666666667 Malaysian Ringgit

thus admin charge is (0.1051366666666667-0.102818 )/0.102818 = 0.0225511745673585 = 2.25% (or 2.26% to be more accurate)

Edit: my blog post from last year has details on the methodology. Had help from the community for datapoints then.

This post has been edited by zenquix: Sep 11 2013, 01:55 AM

If you based on https://www.mastercard.com/global/currencyconversion/

29/7/13 1THB = RM0.102619

so the end result is ~ 2%

This post has been edited by virgoguy: Sep 11 2013, 08:13 AM

base currency should be set to MYR, not THB.

Noted. Hopefully other can provide input for more data point collection

These are my recent foreign currency transactions (all for online retailers) with Maybank 2 MC.

August definitely showed a more expensive rate

Trans Posting Foreign MYR cc rate trans day rate post day rate Fee
01-Aug 02-Aug gbp43.35 217.83 5.0249 4.9262 4.9013 2.00%
28-Jul 29-Jul gbp29.98 148.75 4.9616 4.9127 1.00%
21-Jul 22-Jul usd22.49 72.44 3.2209 3.1900 0.97%
18-Jul 19-Jul usd22.62 72.72 3.2148 3.1819 3.1899 1.03%
16-Jul 17-Jul usd25.00 80.09 3.2036 3.1719 3.1780 1.00%

Can't figure out why the low rate at end of July
Both weekend transactions 28/7 and 21/7 used the rate for Friday

CIMB Visa transaction on paypal:
Trans Posting Foreign MYR cc rate trans day rate post day rate Fee
19-Aug 22-Aug usd21.18 73.16 3.4542 3.269 3.287 5.67% 5.09%

If this is correct, CIMB Visa is reallly expensive. Can anyone confirm this?



This post has been edited by ccmd: Sep 11 2013, 11:48 AM

thanks

based on available data so far, looks like Maybank increased all their CC forex rates by a flat 1% in August. Won't be surprised if Amex is the same.

Can buy their share.. they cut their TP value (in other words their CC liability) by 20% and increase CC revenue by 1%

If you based on Post #465 @doremon_p

The MBB Amex charge rate still remain the same at 2.5%

if we use the MBB MC rate and put in the following assumptions

Forex fee= 2%
Based on rate on TX date

then we can extrapolate Amex rate to 3.2%

Maybank Visa
10-Sep-2013 09-Sep-2013 HK$107.10 RM46.93
10-Sep-2013 09-Sep-2013 HK$386.10 RM169.19
10-Sep-2013 09-Sep-2013 HK$345.60 RM151.44

I use my Maybank Petronas Visa and UOB VOX Visa to purchase on a china online shopping portal called www.taobao.com, here is the list of transaction and it's rate:



The Visa Forex is base on http://corporate.visa.com/pd/consumer_serv...er_ex_rates.jsp.

I notice that the rate always follow the posting date (1 day after the transaction date) on visa website.

Maybank use to be 1.25% admin fee but increase to 2.25% starting 1-Aug-2013.

UOB VOX is a bit higher at 2.35%, but this card will have 5% cash rebate for online shopping transaction.

This post has been edited by Hornsen: Sep 13 2013, 11:56 AM

since Maybank master card no longer rated as the lowest exchange/admin charges, so which CC between SC Visa, MBB2K and OCBC Master has the best rate?

SC i heard is crap. Someone posted rates that show OCBC is lower than MBB but u only get 1%, and eats up yr RM50 quota