If u can, use cash since cc will impose transaction fees. But do bring along ur MC as a backup.

Card Used : OCBC Titanium
Transaction date : 18/9/2013
Foreign Currency Amount : 1523 PHP (Philippines pesos)
Charge Amount : RM116.19
Mastercard rate : 0.074701
Charge rate : 0.07629
Additional charge : 2.13%

Only thing good on SC is the 5x rewards point

I heard nowaday people withdraw money from oversea ATM instead of change it over here in msia.
Rate is better even after withdrawal fees

Real or Myth?

Of course a myth.... 2 banks will provide "service" how can it be cheaper than standalone money exchanger ?

I got the info from Travel forum

deleted

This post has been edited by Human Nature: Sep 22 2013, 03:43 PM

well
I transacted 3 separated USD amount, $29, $34, $86 on 17-19 Sept
Maybank charged me an extra 2.x% admin fee

This post has been edited by @secret@: Sep 22 2013, 11:10 PM

Thanks for the valuable information

MBB AMEX

14-Sep-2013 GOOGLE *TEEPLAY GOOGLE.COM/CHUS US$5.03 RM16.94

USD1=RM3.2899, exchage rate 2.4%

21-Sep-2013 GOOGLE *TEEPLAY GOOGLE.COM/CHUS US$10.06 RM32.58

USD1=RM3.1642, exchange rate 2.4%

do we have any data that other major banks increase admin fee as well? This will really put Maybank at disadvantage if they're charging higher. especially for customers who do lot of foreign transactions

Then again with the Maybankard credit card (i.e. MBB2 AMEX and VI) we get 5X TP which is better than most cards out there.

I did transactions on 22nd and 23rd Sep and all Posting Date 24th September.

Visa Rate on 24th September 2013 (US Time Zone) : AUD/MYR 3.023114 and Spot Rate hovering around 3.013 to 3.02, to be exact it was about 3.0166 when Visa Currency Converter allowed me to check conversion rate on 24th September.

Maybank VI rate : AUD/MYR 3.091286 that's almost 2.25% on top of Visa's rate.

any idea what is the current admin fee for MBB AMEX?
so lets say AMEX is maintaining around 3%, are we getting better deal using AMEX (factorized 5X TP) since there is already a fee hike for visa/master

No idea on MBB AMEX actual conversion rate but is you read the last few pages I am sure you get some clues.

And yah, with the increase in conversion rate by Visa (I can't confirm on MC because have not use any of my MC for more than a year overseas), with MBB2 AMEX 5XTP, I guess it makes no diff.

If one spend less RM5K a year overseas, seriously no point getting another card and pay RM50 GST (or that's like 1% of RM5K). And Bro, the Free for Life MBB 2 AMEX can earn you up to RM600/year too (and say another card saves you 1% in conversion fee, you need to spend RM60K to break even!!!). Having said this, if one does spend a lot on overseas online transactions, the CIMB Cash Rebate Plat Card offering 5% cash back may be the way to go but second and subsequent years got annual fee of RM190!!!

For my case, MBB VI still better for overseas than MBB 2 AMEX because nowadays I use my Treats Points to convert to Enrich Miles.

This post has been edited by Gen-X: Sep 26 2013, 01:06 AM

And not to mention that effective 1 January 2014, the 5% cash back for E-Commerce will be capped at RM30/month, and online transaction for airline ticket (directly from airline website), insurance, utility and mobile bill payment is not entitled for this 5% cash back. Therefore in this case, the UOB VOX VISA is actually better as the 5% cash back for online transaction is capped at RM50/month (ok for airline ticket purchase directly from airline website, but no 5% cash back for online insurance payment, government utility and bill payment).

Bro, I did not know that, with RM30 cap and annual fee of RM190, that works out to be max cash back of RM120/year (RM360- RM190 - RM50GST) or RM10/month. What is the point of having this card after the first year, hahaha

The clause for it is that each transaction have to be min RM50 only entitled to the 5% online rebates

Yeah. Thought of getting this card when it first came out because i do a lot of online transactions every month. So i scanned through its T&C and decided it wasn't good enough, especially after finding out that UOB VOX VISA has higher cash rebate cap for online transaction.

By the way, i just skimmed through its T&C again and even though airline ticket purchase from airline website is not entitled for the E-Commerce 5% cash rebate, they are actually giving you 20% cash rebate for online airline ticket purchase (MCC 3000-3299, 4511) under this promotion now called "Additional Cash Rebates" and it is capped at RM50 too. This promotion will end at the end of this year.


Ah, for the UOB VOX VISA. I was not aware of this. Thanks for pointing it out.

jus wana ask which is better...for overseas spending is it better to use Amex or Visa/MC (both Maybankard2)? Can the 5xTP by Amex make up for its higher conversion rate?

This post has been edited by seankeith90: Sep 28 2013, 02:24 PM

I just knew that MBB Visa now charges 2.25%. Now that explains my 98 USD became RM326.69.
From the front page, OCBC and CIMB is 1%. Are they still the same? I still have my CIMB and will receive my OCBC Ti soon. Will revert to them if they still charge 1%

This post has been edited by spikey2506: Oct 3 2013, 10:45 PM