Amex plat CC

Transaction Date: 30 December 2011
Posting Date: 31 December 2012
Face to face Transaction Amount: SGD1,027
Amount Billed by Maybank: RM2,576.53
Therefore conversion rate = 2,576.53/1,027 = 2.50879

So much on the high side IMO. BNM rate on the 30th is only 2.4427

This post has been edited by b00n: Jan 2 2012, 11:45 AM

Exchange should be as of posting date which is when the bank remits the money to the merchant. Thus the term "posted".

Still helpful because day to day rate change shouldn't affect that much IMO, posting date and transaction date difference should be roughly only 2-3 days except over the weekends or long holidays.

Then my statement could be wrong after looking at this fact provided.
Although its a fact that posting date is the date the bank remit the merchant. But they could have used the transaction date fx

Thanks for the comparison!

Japan - My cash exchange:
Somewhere between 17 or 18 May
YEN: 157,000
MYR: 5,981.70
Exchange Rate: 38.10

But during my trip in Japan from 22 May - 1 June, exchange had raised to over 40. So basically I lose out by using card.
Still got YEN10,000 which based on FX increased, earned around RM20. But not planning to change, leave for next trip in the future.

Citibank Premier Miles
Transaction date : 24 May 2012
Posted date : 26 May 2012
Amount charged in foreign currency : YEN18,500
Amount billed in MYR : RM747.88
Final exchange rate : 40.42595

Citibank Premier Miles
Transaction date : 24 May 2012
Posted date : 29 May 2012
Amount charged in foreign currency : YEN7,798
Amount billed in MYR : RM315.24
Final exchange rate : 40.424575

Citibank Premier Miles
Transaction date : 25 May 2012
Posted date : 29 May 2012
Amount charged in foreign currency : YEN3,460
Amount billed in MYR : RM139.87
Final exchange rate : 40.42485

Citibank Premier Miles
Transaction date : 26 May 2012
Posted date : 28 May 2012
Amount charged in foreign currency : YEN12,768
Amount billed in MYR : RM516.16
Final exchange rate : 40.426

Citibank Premier Miles
Transaction date : 26 May 2012
Posted date : 29 May 2012
Amount charged in foreign currency : YEN22,793
Amount billed in MYR : RM921.43
Final exchange rate : 40.426


Still puzzled on how the exchange rate was charged. Be it Transaction date or Posting date, also can't seem to reconcile. Or was it based on actual time it got (1)Transacted OR (2)Posted?!....
Seems to me more towards transactions date instead of posting. Because looks more closer.

This post has been edited by b00n: Jun 11 2012, 01:57 PM

Logically it should be based on posting date. But if you look at my statement.... very weird. Should I call and ask them to explain?...

Thailand - Chiang Mai - My cash exchange:
THB: 10,000
MYR: 1,004
Exchange Rate: 0.1007

Citibank Premier Miles
Posted date : 27 Aug 2012
Amount charged in foreign currency : THB2,290
Amount billed in MYR : RM232.17
Final exchange rate : 0.1013843

Citibank Premier Miles
Posted date : 27 Aug 2012
Amount charged in foreign currency : THB8,240
Amount billed in MYR : RM835.41
Final exchange rate : 0.1013847

Exchange rate from Visa: 0.099387

Citibank Premier Miles
Posted date : 28 Aug 2012
Amount charged in foreign currency : THB3,090
Amount billed in MYR : RM315.04
Final exchange rate : 0.1019547

Exchange rate from Visa: 0.099949

Citibank Premier Miles
Posted date : 29 Aug 2012
Amount charged in foreign currency : THB2,990
Amount billed in MYR : RM304.85
Final exchange rate : 0.1019565

Exchange rate from Visa: 0.099949

Seem that I get charged 2.01% instead of 1% bank charges.
What is stated in their website is still 1%:
https://www.citibank.com.my/english/common/...erCode=MYAPSLN3


This post has been edited by b00n: Sep 13 2012, 09:33 AM

Transaction Date : 21 July 2013
Posted Date : 21 July 2013
Amount charged : IDR 569,500
Converted Amount : MYR 184.93
Final Exchange rate: 0.000325

Rate on Visa International: 1 IDR = 0.000317 MYR

Around 2.4% higher using Premier Miles.

Anyway, latest by Citi issued on June 10, 2013:
Effective 10 June 2013:

If a transaction is made in foreign currency, the transaction will be converted into Ringgit Malaysia using US Dollars as the base currency on the date on which the transaction is received and processed by Citibank and/or Visa International, MasterCard Worldwide or the relevant Card Payment Network (“Payment Network”).

The currency conversions will be based on Citibank’s prevailing foreign exchange rate and/or an exchange rate determined by the relevant Payment Network. This currency conversion will include any charges levied by the Payment Network for overseas transactions and a 1% foreign exchange conversion markup by Citibank on the converted Ringgit Malaysia amount, or such other rate as determined by Citibank and notified to you.

This post has been edited by b00n: Jul 26 2013, 01:42 PM

Posted Date : 24 July 2013
Amount charged : IDR 5,048,760
Converted Amount : MYR 1,612.84
Final Exchange rate: 0.00031945

Rate on Visa International: 1 IDR = 0.000312 MYR

1% charge only for this transaction. This one is hotel charge while the other one is shopping.

Online - Amazon:

Posted Date : 14 Aug 2013
Amount charged : USD 68.77
Converted Amount : MYR 229.41
Final Exchange rate: 3.3359

Rate on Visa International: USD 1 = 3.254 MYR

2.5% charge only for this transaction.