You should calculate based on the official rate at posting day, not transaction day...

Official visa rates already has a spread of .8 to 1.2% over the median rate...

There are 2 visa sites to check exchange rates, one in the USA and another for visa Europe....the rates are slightly different.... which one will process msian cards?...

Always put the currency of purchase....it's always work out cheaper than having them convert to myr, which in my experience is a 5% charge over base rate...

not sure where you get the rate from, but based on what you posted, it's 2.73 and 2.15% above...

normally maybank charge 2% on top of the visa/mc rate...which is also 1% over the median rate...

If you use maybank cards, it will still work out to 3%....

I think there is some issue with the basis for calculation....some people use visa/MC rate....some median rate from exchange sites like xe/onda....

Note that if you exam the visa/mc rate, it already includes a spread of about 1% from the median...

You need to check the median exchange rate and the amex rate for the posting date, and calculate the margin...

if your "bank rate" refers to what is listed in the bank's forex list, it's a rate with margin already built in, ranging from 2-4%....

the actual reference rate should be the median rate on the day of posting...which you can get from online sites like xe, etc...another way, less accurate, is to calculate the median rate from the buy and sell price in the bank's forex list...simply add the 2 figures together and divide by 2....

the visa/mc rate has already a margin of about 1% built in...

so, say for the nzd today...median rate is 2.98....visa will list as 3.01....you calculation may show 3.06, maybank forex say 3.054....you go klia and change 3.25....you go mvm change 3.00....

in which case, it's .69% over visa rate, which is not bad...since visa rate is already about 1% above median rate, the real spread is only 1.69%, which is good....maybank is 3%!!

and yes, the actual spread is not always accurate, for most banks....not sure why...

The bsnk will have a system of calculation...we don't know their system, and only attempt to guess by calculating based on examples...

In some countries, they are required to tell you exactly how they calculate....eg UK bank are mandated to explain their calculations..... and their statements show that clearly...

The maybank rate is generally 3% above median rate....so you are still 2% ahead....

Wait for posting date. The rate is determined by the visa rate on posting date....

check the visa rate from here: https://usa.visa.com/support/consumer/trave...calculator.html

if we look at your transaction posted on the 17/10/16, i presume it's for usd, and usd7.94 was converted as myr34.20...

a myr cc paying in usd is charged by visa (17/10) at 4.221578.

on the same day, a usd cc paying in myr is charged 0.238526, or a usd/myr rate of 4.192415....the median rate is thus 4.206997....giving a spread of 0.3466% both ways...that's visa's "profit"...

you were charged myr34.20, and that gives a rate of 4.307305...

calculating based on visa given conversion rate, the extra you paid is (4.307305-4.221578)....divide by the visa rate, gives you 2.03%....that's what the bank charges....

calculating based on visa median rate (ie the REAL rate on that day). you get 2.36%....that's the REAL extra charges imposed, by all parties involved...

key in card in usd....then payment in myr....and you will get the exchange BUYING myr...usd0.238526 per myr....recipocate that you get the rate...

Ambank cards...

payments in sgd and aud...

visa yields about 2.0 to 2.2% on top of visa rates....

mc yields a consistent 1%....

i should drawer the visa and just use the mc....

Based on experience, the bank surcharge rate is different between visa and mc....

The benefits provided are the same, but that is not the same as surcharges...why they should be different I have no idea...

I don't think MC is necessarily always better than visa....Just that some bank's MC gives good rates....Like ambank's world MC.....

Ambank wmc has the lowest bank charges, but if online payment, you only get 1 point per RM...

Generally, the spread by other banks/cards are 1-2% more....So for 200 pounds, it's maybe rm20 to 40 more....For small amounts, it's not significant....

There is a bank imposed charge which amount up to 2% of transacted amount....