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 Credit Card Foreign Exchange Rate

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Wongchoy
post Mar 22 2014, 05:39 PM

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Hong Leong Wise Card

Transaction Date : 19 March
Posting Date : 20 March
Transaction Amount : SGD 21.95
Amount Charged : MYR58.14
Exchange Rate : 2.648747
Visa 0% Rate : 2.596662
Admin Fee : 2.04%
Wongchoy
post Mar 23 2014, 10:49 PM

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QUOTE(nothingz @ Mar 23 2014, 05:23 PM)
CIMB Cash Rebate Platinum Mastercard

Transaction Date : 19 March
Posting Date : 22 March
Transaction Amount : SGD 18.5
Amount Charged : RM48.83
Exchange Rate : 2.63946
Visa 0% Rate : 2.596662
Admin Fee : 1.65% (include 0.8% cross border fee)

much lower than yours even with cross border fee 0.8% (note sure whether HLB has it). Anyway, mine got 5% rebate due to online transaction

UOB Vox Visa Card

Transaction Date : 19 March
Posting Date : 21 March
Transaction Amount : SGD 55
Amount Charged : RM146.18
Exchange Rate : 2.657818
Visa 0% Rate : 2.596662
Admin Fee : 2.355%

again it is online transaction with 5% rebate. therefore the effective rate is much lower than the visa 0% spot rate

i think i should move my overseas online transaction to CIMB Cash Rebate Platinum Mastercard due to its lower admin even with 0.8% cross border fee
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If you have a transaction in SGD then there won't be any cross border fee. This fee exist only when your transaction overseas is made in ringgit rather than local currency. As for wise card, the rebate will be 10% so my exchange rate will be much lower! But as a past user of CIMB CC, their forex rate is one of the most competitive.
Wongchoy
post Apr 27 2014, 02:34 PM

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Hong Leong Visa Infinite

Posting Date : 26 April
Transaction Amount : SGD203.50
Amount Charged : RM541.85
Exchange Rate : 2.6629
Visa 0% Rate : 2.6106
Admin Fee : about 2%
Wongchoy
post May 6 2014, 01:08 PM

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QUOTE(Without @ May 6 2014, 12:11 PM)
Thanks for the article.
It seems Visa do have a higher exchange rate, it's because of admin fees determined by bank itself?
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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.
Wongchoy
post Jun 1 2014, 04:06 PM

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QUOTE(oneeleven @ May 31 2014, 09:35 PM)
In Taiwan, every bill must choose if card to be charged in Ringgit or $NT. Does it make any difference?
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Of course it make a different, if you choose ringgit , the conversion rate is very unfavourable (about 3% higher ) and you might be charge a cross border fee as well! Always pay in the local currency and enjoy the lower rate offered by visa/ mc.
Wongchoy
post Jul 24 2014, 10:45 PM

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Maybank 2 Premier Visa

Posting Date : 24 July
Transaction Amount : SGD1180
Amount Charged : RM3066.87
Exchange Rate : 2.599
Forex Spot Rate : 2.556 - 2.559
Admin Fee : about 1.5%
Wongchoy
post Aug 4 2014, 09:25 PM

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Public Bank Visa Signature

Posting Date : 03 August
Transaction Amount : SGD100
Amount Charged : RM260.94
Exchange Rate : 2.6094
Forex Spot Rate : 2.577
Admin Fee : 1.25%
Wongchoy
post Aug 4 2014, 09:26 PM

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QUOTE(Human Nature @ Aug 4 2014, 02:17 PM)
Public Bank Visa Signature

Transaction Date: 1 Aug 2014
Posting Date : 2 Aug 2014
Transaction Amount : GBP80
Amount Charged : RM439.07
Exchange Rate : 5.4884 (439.07 / 80)
Forex Rate : 5.4227 on 1 Aug 2014

Fee: 1.211?  icon_question.gif
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Yup... Lower charge than Maybank rclxms.gif
Wongchoy
post Aug 4 2014, 09:35 PM

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QUOTE(Human Nature @ Aug 4 2014, 09:27 PM)
Nice, mine is an online transaction so get the 6% cash back too  rclxms.gif
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Lower foreign transaction fee + 6% cash back = What a great deal biggrin.gif
Wongchoy
post Aug 19 2014, 08:53 AM

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QUOTE(- JaY - @ Aug 19 2014, 03:33 AM)
MBB have diff rates for premier/infinite/m2c?  rclxub.gif

i am currently holding 3 CC, if were to use for foreign transaction, which would be the better choice?

a) OCBC Ti (Master)
b) M2C Visa + AMEX (dont take 5% cashback into account as I will maxed it every month via bills)
c) SC Plat (Master)

Never use for foreign transaction before..  icon_question.gif
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Maybank's rate should be better.
Wongchoy
post Aug 20 2014, 09:52 PM

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QUOTE(- JaY - @ Aug 20 2014, 02:17 AM)
AMEX or Visa?
Does that mean the 5x TP alone will offset the rest of my cards?
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This time around, AMEX foreign trnx cost 2.7%, Visa is 1.5%. 5x TP = 2% so unless you use your AMEX on weekend, you have to pay foreign trnx fee.
Wongchoy
post Oct 23 2014, 11:17 AM

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Maybank 2 AMEX Plat

Posting Date : 21 OCT
Transaction Amount : SGD59.90
Amount Charged : RM158.27
Exchange Rate : 2.6422
Forex Spot Rate : around 2.57
Admin Fee : about 2.8%
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This post has been edited by Wongchoy: Oct 23 2014, 11:18 AM
Wongchoy
post Oct 25 2014, 05:03 PM

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QUOTE(DarReNz @ Oct 25 2014, 04:21 PM)
guyd can I check whether we can use our cc at australia as it seems you need to use pin code there ? and they don't allow you to sign ?
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It would be tough to persuade the merchant to accept cards without PIN though. Non Aussie card is exempted from this requirement but the merchant enforce it anyway.
Wongchoy
post Nov 16 2014, 10:41 PM

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QUOTE(beyond86 @ Nov 16 2014, 08:41 PM)
last time i remember MBB visa is lowest, 0.5% for admin fee, how about now?
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Based on my last trnx, spot rate + 1.5%.
Wongchoy
post Nov 16 2014, 10:54 PM

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QUOTE(kinabalu @ Nov 16 2014, 10:47 PM)
I have New Aeon Gold CC and MBB2 Amex

Which one is better to spend? going to America soon.
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AEON rate is lower. AMEX rate for my last trnx is +3% !! shocking.gif
Wongchoy
post Nov 18 2014, 11:17 AM

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QUOTE(Darkmage12 @ Nov 18 2014, 10:39 AM)
When you mentioned Visa rate it means the rates published by Visa? Some banks have their own rates instead of using those by Visa, but I guess Aeon is not a bank so they follow it?
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As per formality, all Visa card foreign trnx will follow visa rate of the day the trnx is posted eventhough banks have their own set of forex rate . Anyhow, most bank will add admin fee to the trnx, in addition to the 1% added by Visa itself. On AEON scenario, i reckon they do not add any extra charge on foreign trnx. The 1% add on is paid to Visa Intl
Wongchoy
post Apr 12 2015, 11:11 AM

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Guys. Just went thru hlb.com and saw a new no frills, Hong Leong I'm Card. They claimed there is no foreign exchange markup on that card !
Wongchoy
post Jun 15 2015, 10:43 PM

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Ambank World MasterCard

Trnx Date : 10 June
Transaction Amount : SGD2140
Amount Charged : RM6045.95
Exchange Rate : 2.8252
Forex Rate from MasterCard : 2.8063
Admin Fee : about 1.15%

The best card for overseas usage! icon_rolleyes.gif
Wongchoy
post Jan 4 2016, 11:27 PM

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Maybank 2 Premier Visa Infinite
Trnx Date : 31Dec
Posting Date: 01Jan
Transaction Amount : SGD124.50
Amount Charged : RM388.11
Trnx Exchange Rate : 3.1173
Actual exchange rate on posting date : 3.05
Admin Fee : about 2.2%

Maybank Amex Reserve
Trnx Date : 31Dec
Posting Date : 01Jan
Transaction Amount : SGD39.90
Amount Charged : RM124.50
Trnx Exchange Rate : 3.1203
Admin Fee : about 2.3%

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This post has been edited by Wongchoy: Jan 4 2016, 11:28 PM
Wongchoy
post Aug 13 2016, 04:11 PM

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Hong Leong Wise Visa Gold

Trnx Date : 11 Aug
Transaction Amount : SGD26.10
Amount Charged : RM80.00
Exchange Rate : 3.065
Forex Spot Rate of the day 2.987
Admin Fee : about 2.6%

Maybank 2 Premier AMEX Reserve

Trnx Date : 11 Aug
Transaction Amount : SGD59.80
Amount Charged : RM183.27
Exchange Rate : 3.0647
Forex Spot Rate of the day : 2.987
Admin Fee : Marginally above 2.6%
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