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 Credit Card Foreign Exchange Rate

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mimi1986
post May 30 2013, 05:07 PM

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Hi everyone,

Just saw this from Citibank

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.

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Just wondering if i m better off to pay for my oversea transaction before 10/June/2013 ?

This post has been edited by mimi1986: May 30 2013, 05:09 PM

 

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