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 Credit Card Foreign Exchange Rate

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Victor3010
post Apr 4 2013, 08:18 PM

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Joined: Aug 2007


UOB Platinum Visa
Transaction Date : 2 April 2013
Posted Date : 4 April 2013
Amount charged : GBP 33.55
Converted Amount : RM 161.65
Final Exchange rate: 4.81818

I was always told by the customer service that they only charge 1% from the middle rate of Visa and it clearly shows that it charging a 2.7% charge to me now.

Based on the Visa rate of 4 April 2013 with a 1% transaction fee, the rate today was suppose to be only 4.741033... Called the UOB customer service, and they say they can't do aynthing now... Seriously it shows that they are really not sure about their work, I remember reading somewhere in the credit card T&C only charging 1% fee, does this mean a 1% from Visa + 1% from UOB??


Edit: Found the term saying "The conversion rate will be the prevailing rates of Visa International or MasterCard Worldwide, plus a 1% administrative fee."
http://www1.uob.com.my/personal/useful/fee...ees_charges.pdf

This post has been edited by Victor3010: Apr 4 2013, 08:25 PM

 

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