Yours is amex, mine is visa, conversion rate is different.

if i want to make transaction from oversea online shop, using hong leong debit card, do i have to inform hong leong, or i just can use straight away?

I just published my article I Earned 15000 FREE Enrich Miles for Purchasing American Airlines Tickets Which Also Earn Enrich Miles where I bought American Airlines tickets using my Maybank 2 Cards Premier AMEX Reserve.

Transaction Date: 30 April 2014
Posting Date: 5 May 2014 (Monday)
USD4,320.64
RM14,342.60
USD/MYR Conversion Rate = 3.3195545
USD/MYR Spot Rate on 2nd May 2014 (based on Friday's Closing Rate) = 3.2661 (BNM website states 3.2690).

Thanks for the article.
It seems Visa do have a higher exchange rate, it's because of admin fees determined by bank itself?

For a foreign transaction, there is a 1% fee charged by visa and a admin fee charged by the issuer. If you felt Visa charge higher forex rate, it is because some banks have a higher admin fee than the others.

Visa has a higher spot rate than Mastercard if you compare them daily at their respective website. But ultimately, it is still up to the banks how much Admin fees they want to charge.

eh, my bad
saw M2 straight away thk of M2Amex only
no wonder urs posted one day later

just booked MAS to LAX yest too, out of 4 flights, only one by MAS, 2 by AA and 1 from JAL
too bad i dun hv M2 Premier

OT -

Bro, MBB2 Card AMEX also good lah, get 5% CB My sis book her return flight KUL > JFK with JAL and she told me she'll be in Narita for few hours and they take her go shopping!!!

This post has been edited by Gen-X: May 6 2014, 08:09 PM

i booked yesterday, no 5%
only got 5X pts, luckily not personal trip
and no Safekey feature for MAS, no verification call from MBB oso even though 1st time booking MAS online

OT
booked from mas coz it's cheaper than JAL for exactly the same flight
i'll be stuck at narita too, 7 hrs going to LA and 19 hrs coming back to KL (have to find transit hotel or comfortable airport lounge)

This post has been edited by alexwsk: May 6 2014, 11:17 PM

M2 Amex - Online transaction
Transaction Date: 05 May 2014
Posting Date: 07 May 14
Transaction amount: USD115.46
Amount charged: RM385.57
Effective rate: USD1 = MYR3.3394

M2 Amex - Online transaction
Transaction Date: 05 May 2014
Posting Date: 07 May 14
Transaction amount: USD72
Amount charged: RM240.43
Effective rate: USD1 = MYR3.3394

Both transactions above at the same time, so gotten same rate.

OCBC Titanium - Online transaction
Transaction Date: 06 May 2014
Posting Date: Not shown, first appeared in OCBC online 08 May 14
Transaction amount: EUR407.21
Amount charged: RM1892.52
Effective rate: EUR1 = MYR4.6475
Bank Charges: Around 2.75%

MBB Amex

Transaction Date: 08/04/2014
Posting Date: 09/04/2014
Transaction amount: SGD 197.00
Amount charged: MYR 525.05
Amex rate: 1 SGD = 2.59137 MYR (08-Apr)
effective conversion rate: 2.665228
admin fee: 2.5%
actual admin fee: 2.85%


PBB Visa

Transaction Date: 08/04/2014
Posting Date: 09/04/2014
Transaction amount: SGD 197.00
Amount charged: MYR 519.76
Visa rate: 1 SGD = 2.605367 MYR (08-Apr)
effective conversion rate: 2.665228
admin fee: 2%
actual admin fee: 2.3%

Amex and Visa diff = RM5.29

This post has been edited by czlee88: May 9 2014, 02:46 PM

IF MBB 2 AMEX, get 5X TP or 2% Cash Back, or about equivalent RM10 for RM500.

PBB, CB starts at 0.3% and max 1% CB (that is if you spend hell of a lot).

So, MBB 2 AMEX better

hi guys,
wanted to share for Alliance VI, not sure below correct or not, please help check.

Date USD MYR Calculated Exchange Rate Visa Published Rate Calculated Admin Fee
21-Apr 6.08 20.07 3.300986842 3.2437 1.77%
22-Apr 5.84 19.35 3.313356164 3.2511 1.91%
19-Mar 6.98 23.33 3.342406877 3.2749 2.06%
29-Mar 16.58 55.26 3.332931242 3.2834 1.51%
30-Mar 39.75 132.48 3.332830189 3.2834 1.51%
2-Apr 43.82 145.48 3.31994523 3.2646 1.70%


btw, Alliance bank recently waived the admin fee or something like that right for overseas transaction?
can't find the link, will look again later.
thanks

the high admin fees nowadays either by bank or visa, making the credit card will be the last options to be used in overseas (at least for me). but it seems Amex 2 now is better than visa considering the 2%-7% cash back we can obtained. slightly off topic but I now wonder, is there any difference for exchange rate in overseas for ATM withdrawal using ATM visa plus (e.g. Maybank) and cirrus/maestro (e.g. CIMB).

For Maybank 2 AMEX, the cash back is based on the transaction date or the posting date? And is it based on Malaysian time?

Transaction date, based on local time, not Malaysia time.

alright thanks. been avoiding using amex overseas but if can get the 5% cashback and 5x points, will give it a try.

yup, after factoring 5% rebate and 5x points is even lower than money exchange rate (of course if it's within cap)

overseas on weekends you can use amex and on weekdays use watami