The senior guys here have compiled and posted all the information when using cc overseas. And when people share the rates here, it is defined quantitatively - readers can judge/calculate for themselves the additional percentage the bank charge vs the prevailing market rates. Now, please note that even you change your money at the money changer, someone has to make a profit. So whatever exchange rate you obtained is always higher than the interbank rates.

You posted a subjective answer (questionable) vs. a quantitative answer which cannot be disputed. Your definition of "expensive" can be misleading for newbies browsing in this thread. People who are sensitive to even 0.1% extra would define the charges as expensive if follow your method of categorization the term "expensive".

This post has been edited by hye: Apr 30 2011, 06:57 PM

@chunglern ... your attachment does not contain the 1% cashback information although the website does. Better you point to the website rather than to the PDF which does not contain that information.

If you are using the card then please provide the reference information. FYI, Maybank even uses a different forex rate vs. other banks thus their conversion is very attractive. HSBC uses a different forex rate which is higher than MBB but hypothetically the final number could be close but I'd prefer if someone make an actual comparison and not just provide the info here with proof of actual conversion in action.

You forgot to also mention that HSBC Amanah is strictly rebates with no points vs. MBB rebate+points system.
Please don't omit anything in the future ya ... let's try not to mislead our readers.

If it is that urgent and you are not being "pressed" to use your credit card, does it matter ? I take it this is your first time using your credit card overseas.
The bank will charge a reasonable exchange rate and not to suddenly charge you like a loan shark. If they do, you'll hear complaints long time back.

Sharing info obtained recently

Methodology - Rate obtained via making reference to VISA or Mastercard Currency Convertor Calculator
Total indicate the final transaction value after adding the bank fee percentage in the calculator.

AmBank 25/07/24 Enrich VI USD 10 = RM47.22, Bank Fee 1.00%
OCBC 24/07/24 Titanium MC USD 10 = RM47.83, Bank Fee 2.25%
OCBC 24/07/24 Voyage MC USD 10 = RM47.83, Bank Fee 2.25%

The fact says otherwise.
You can test it yourself if you have access to Voyage.

Probably. If you have the OCBC 90°N Visa then maybe you could help to test it out. Visa currency calculator will reveal how much bank fee is being applied.

All cards can be universally referenced via the respective VISA / Mastercard forex calculator. Tweak the bank fee value to find the closest to what is being charged to you.

Voyage is touted as 0% foreign exchange mark-up which in a way true as it is not a forex mark up. Probably some other fees that is being applied here.
Have seen CIMB TWE having the same 0% claim but at the end members reported seeing some bank fee applied. My own testing, I saw 1.23% applied to TWE. While another member reported 0.93%, whatever it is - it is not 0% as claimed by the bank. Even the CIMB CS defended this 0% as probably they rely on the bank script. Real world testing reveals the actual fact.

This post has been edited by hye: Jul 31 2024, 09:23 AM

Updating the forex info for CIMB TWE based on new information received -

240129 JPY 1.23%
240415 USD 0.93%
240407 KRW 0%

One member mentioned several post back that the bank fee rate was 0.93% and this confirms that data. What's interesting here is that it appears that depending on what's the forex, different bank fee will be applied.

This post has been edited by hye: Aug 5 2024, 08:20 PM

Update:

OCBC 24/07/24 Voyage MC USD 10 = RM47.83, Bank Fee 2.25%

Seems OCBC will return a rebate after around 45 days for Voyage. After this rebate, the adjusted bank fee % value to the transaction above would only be 1%.
Still not 0% as advertised though.

This post has been edited by hye: Sep 13 2024, 12:36 PM

2.20% on top of whatever VISA/Mastercard forex rate at that point of time.

I tested UOB overseas rate before and it is the same as what you experienced - 2.2%. (Posted this info and some members insist it is 1%, :sweat:)
It all lies in how the bank writes the T&C - they are not wrong in the interpretation. So far UOB has been consistent in charging 2.2% on top of your charges for foreign expenses. (Other than RM dominated)

I believe there is a bank which varies this rate depending on the country but since I don't have enough sampling, will not post unverified info.
And there are banks who charges exactly as what they claim in their T&C.

This post has been edited by hye: Nov 12 2024, 05:50 PM

Yes, for the card AmBank card mentioned. And the figure will tally with what you see on the VISA currency calculator.