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 Credit Card Foreign Exchange Rate

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pvateme
post Sep 7 2016, 10:44 AM

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QUOTE(virgoguy @ Sep 6 2016, 05:46 PM)
plan to buy air ticket from NZ air website. which credit card has better conversion rate?
PBB VS or MBB2 Master or MBB2 Amex?
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I bought jetstart air ticket in june using MBB2 master card. Below is the details for your reference.
Transaction TypeMBB M2C Master
Transaction Date10/06/2016
Posting Date10/06/2016
Transaction amount330NZD
Amount chargedRM971.61
rate2.944272727
visa rate @ 10/062.901797
Difference(2.944272727 - 2.901797) / 2.901797 = 1.46%

I bought things from Singapore airport using PB VS in April.
Transaction TypePB VS
Transaction Date13/04/2016
Posting Date15/04/2016
Transaction amount 238.62SGD
Amount chargedRM702.31
rate2.943215154
visa rate @ 15/042.906878
Difference(2.943215154 - 2.906878) / 2.906878 = 1.25%

I would suggest you to use PB VS.

BTW, can anyone share with me if AEON BIG gold card has better rate than these 2 cards that I have ?
Some are sharing AEON BIG gold card charge 1% only. Can you share with me your latest tx done ? Going to oversea soon, need to select a wise card.
I have these cards:
1. HL Wise
2. Maybank m2c Master and Amex
3. PB VS
4. HL Essential
5. AEON BIG Gold Card

This post has been edited by pvateme: Sep 7 2016, 10:48 AM
pvateme
post Sep 26 2016, 04:05 PM

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Do you realised that Master provide better rate than Visa?
I have this conclusion by comparing the rate advertise on Master and Visa page for the same date and for the same currency NZD.

And, below here is the rate for RHB Master Platinum card.
Transaction TypeRHB Master Platinum
Transaction Date31/08/2016
Posting Date02/09/2016
Transaction amountEUR 29.90
Amount chargedRM 138.92
bank rate4.646154
master rate4.599414
Difference1.02%

From RHB CS, the charging rate is following bank's advertised Foreign Exchange Rate on rhbgroup.com website.
pvateme
post Oct 14 2016, 03:59 PM

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Sometimes, i really confuse how they actually calculate the rate. Using the same formula, I got a lower rate on admin fee from PB VS card, on NZD transaction.

Transaction TypePB VS
Transaction Date13/10/2016
Posting Date13/10/2016
Transaction amountNZD 180.00
Amount chargedRM 540.53
bank rate3.002944444
visa rate2.982273
Difference0.69%
pvateme
post Oct 15 2016, 10:39 AM

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QUOTE(limeuu @ Oct 14 2016, 06:56 PM)
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....
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i m calculating the % of bank charge on top of the visa / master published rate.
the bank rate refers to the actual bank charge in RM / my NZD amount.

i m tracing these to see which bank has lower bank charge on foreign tx in order to make max saving when swiping in overseas.

the one i m confusing now, is, i dont see the bank always charge the same % on top of the published visa rate on publi bank visa card. unless my calculation is wrong.

This post has been edited by pvateme: Oct 15 2016, 10:40 AM
pvateme
post Oct 16 2016, 08:48 AM

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QUOTE(limeuu @ Oct 15 2016, 12:43 PM)
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...
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En. that means that is no formula for us to calculate and decide which bank offer the lowest rate? hmm.gif
pvateme
post Oct 16 2016, 05:02 PM

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QUOTE(DarReNz @ Oct 16 2016, 02:59 PM)
tried many times d, PBVS is at 1.25%
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thanks for the confirmation.
may be my source of data is wrong. not very sure on that till i get my statement. on other times using pb vs, yes it is 1.25%.
pvateme
post Oct 24 2016, 04:43 PM

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RHB master card charge differently on top of the master rate, on different days. rclxub.gif

Post DateForeign Amt SignForeign AmtRM AmtBank RateCardCredit TypeVisa/Master RateRM Amt with Visa/Master RateBank Charge
2016-09-30EUR14.5068.444.720000000RHBMaster4.66087467.581.27%
2016-10-03EUR14.5068.794.744137931RHBMaster4.65096867.442.00%
2016-10-03EUR14.5068.794.744137931RHBMaster4.65096867.442.00%
2016-10-10EUR268.001,268.864.734552239RHBMaster4.6380461,243.002.08%
2016-10-19EUR231.171,088.074.706795865RHBMaster4.6004311,063.482.31%

i think limeuu is right, the same bank and same card may charge differently on different day on the foreign transactions.

This post has been edited by pvateme: Oct 24 2016, 04:47 PM
pvateme
post Oct 24 2016, 04:51 PM

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QUOTE(DarReNz @ Oct 16 2016, 02:59 PM)
tried many times d, PBVS is at 1.25%
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I got one transaction, PB only charge 0.69%.
and I found out master gives better rate than visa. So was initially thinking to use RHB master card rather than PBVS. But, after few round of transactions using RHB master, i then realised the bank charge from RHB vary from 1% to 2.x%. Which end up, the converted amount in RM is more or less the same using RHB master and PBVS. I think I will use PBVS for my following transactions. Thanks for your information on PBVS.
pvateme
post Nov 3 2016, 09:07 AM

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QUOTE(limeuu @ Nov 2 2016, 09:03 PM)
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....
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I wish this is the same to other bank master cards. From what I noticed, master rate is better than visa. unfortunately some times my rhb master card yields 2.x%. ends up the converted amount is similar to using pb vs.

This post has been edited by pvateme: Nov 3 2016, 09:09 AM
pvateme
post Dec 6 2016, 12:00 PM

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QUOTE(adele123 @ Dec 6 2016, 10:53 AM)
Abit late

Citibank Clear Visa Card
Transaction DatePosting DateAmount in foreign currencyAmount in MYRExchange RateVisa Rate (posting date)Fee %
25/05/201626/05/2016EUR 62.10293.024.7185194.6074082.41%
24/08/201625/08/2016GBP 5202862.855.5054815.3757052.41%
11/10/201612/10/2016GBP 3551880.445.2970145.1721342.41%
11/10/201612/10/2016GBP 2381260.685.2969755.1721342.41%

My calculation is based on posting date. If I use transaction date, a different fee % for transactions of different date. Looks like Citibank I managed to get the transaction fee across 3 dates and 2 currencies. Repost my May transaction for comparison.
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looks like the fee from this card is on the high side. pb vs confirm on 1.25% only.
pvateme
post Dec 29 2016, 04:13 PM

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QUOTE(MAC-tronome @ Dec 29 2016, 03:28 PM)
guys..will the charges same if say i purchase something in USD.

Scenario 1: payment made via paypal using UOB YOLO card

Scenario 2: direct payment using UOB Yolo card

Is it the same? thanks
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paypal is a more secured payment gateway. it doesnt charge extra on the amount.
pvateme
post Dec 29 2016, 05:54 PM

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QUOTE(MAC-tronome @ Dec 29 2016, 05:29 PM)
hi thanks ..but even the forex rate ? paypal will use their own forex rate vs or the credit card bank forex rate? hmph..
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paypal will only charge based on the amount that the web application sent in. the web application will call the paypal API with the amount, for eg in your case, in USD. the bank that issue the card which you have tied in your paypal account is the one that decide on the final amount in RM.

the final amount in RM, is calculated based on the rate published by AMEX / VISA / MASTER + admin fee / charges imposed by the bank whom issued your card.

This post has been edited by pvateme: Dec 29 2016, 05:55 PM
pvateme
post Jan 4 2017, 11:22 PM

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QUOTE(blogomatic @ Jan 4 2017, 08:58 PM)
based on this thread, can i safely conclude that mastercard rate is better than visa?

what about banks? cimb mc, maybank mc, maybank visa, hong leong visa or ambank visa?
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for your first question:
I did a study for a period of 2 weeks on VISA vs MASTER rate, and, yes, I do think master rate is better.
pvateme
post Jan 5 2017, 09:41 AM

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QUOTE(limeuu @ Jan 5 2017, 08:26 AM)
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.....
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what i mean is, the published master rate by master company, comparing to visa rate. i m purely checking nzd that ime, not sure about other notes. not tie to any bank's admin fee yet.

2017-01-04 Rate of NZD 1 : MYR
Master: 3.11
Visa: 3.135534

This post has been edited by pvateme: Jan 5 2017, 09:48 AM
pvateme
post Apr 19 2017, 11:28 AM

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QUOTE(engtat @ Apr 19 2017, 01:07 AM)
I believe I am the victim of what I think is VISA system error.

Card: Public Bank VS
Transaction DatePosted DateAmount in Foreign CurrencyAmount in MYRExchange RateVisa RateFee %
12 Apr14 AprHKD 42,800MYR 25,673.700.5998530.5924471.25%

Exchange rate I gathered from Visa, Mastercard and BNM (1 HKD to MYR), 0% bank fee.

Source/Date12 Apr(Wed)13 Apr(Thu)14 Apr(Fri)15 Apr(Sat)
Visa0.5717760.5709870.5924470.567939
Mastercard0.5704390.5692120.5671650.567165
BNM0.5703750.5691590.5663800.566380

0.592447 was used due to posted date, 3.75% fluctuation and back to normal the next day, this is insane.

Checked forex on Apr 14, Intraday, highest also not more than 0.57.

Apparently this happened before (maybe frequently also), source of other website.
https://www.flyertalk.com/forum/travelbuzz/...redit-card.html
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wow, never thought of this would happen. did you lodge a complain to pb ? any outcome ?
pvateme
post Aug 9 2017, 06:25 PM

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QUOTE(muscaa @ Aug 9 2017, 01:57 PM)
2/8/17 MBB Visa Signature Thai Baht 100=RM13.20, Money changer rate RM12.86 Not worth using credit card
bangwall.gif
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i got from money changer at rm13.00 today. not far from card price.
pvateme
post Jan 12 2018, 10:17 AM

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QUOTE(DarReNz @ Jan 11 2018, 06:21 PM)
isn't everyone using e-wallet in China ? do you have MBB 2 cards ?
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my colleague went to china, planning to use alipay too. but china only recognized credit cards which were issued by banks in china. so he still need to use cash at the end. i am not sure whats the reason of this failure, which could be due to didnt inform bank here about his overseas trip or its real that only cards from china is recognized when using alipay in china.
pvateme
post Jan 14 2018, 06:41 PM

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Information from my friend about bsn platinum card. Don't understand why the admin charge is so low.

Transaction date: 10/01/18
Posting date: 12/01/18
Charged amount: sgd785.40 = rm2360.38
Master card rate for 12/01/18: 3.001681
Converted amount based on MasterCard rate x 2357.52

Admin charge: (2360.38 - 2357.52) / 2357.52 * 100% = 0.121314%
pvateme
post Feb 9 2018, 12:44 PM

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QUOTE(Devil4life @ Feb 8 2018, 11:40 AM)
Just to confirm the exchange rate is follow posting rate right?

I compared both my Maybank2kard AMEX and Maybank Visa Signature used in USD & KRW, it seems AMEX exchange is even lower.

Maybank2kard AMEX
Transaction date : 3 Feb
Posting date : 6 Feb
USD rate : 3.988

Transaction date : 3 Feb
Posting date : 6 Feb
KRW rate : 3.661

Maybank VS
Transaction date : 3 Feb
Posting date : 6 Feb
USD rate : 3.991

Transaction date : 2 Feb
Posting date : 6 Feb
KRW rate : 3.679

With 5% rebate some more, better I use AMEX
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this is a surprise to me.. i thought visa / master should anyhow offer better rate than AMEX
pvateme
post Jul 23 2018, 09:57 AM

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QUOTE(David83 @ Jul 22 2018, 12:08 PM)
✅Public Bank 1.25%
✅Maybank (Visa) 1.25%
✅Maybank (Master) 1.00%
✅Maybank (American) 2.50%
✅RHB Bank 1.00%
✅Hong Leong 1.00%
✅CIMB Bank 1.00%
✅Am Bank 1.00%
✅CitiBank 1.00%
✅HSBC 1.25%
✅BSN 1.00%
✅UOB(MY) 1.00%
✅OCBC(MY) 1.25%
✅Big Pay (Master) 1.00%

From: Oppa Sharing FB 【歐爸·旅游·分享站】
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i just made 2 payments in pound, 1 on sat and 1 on sun. below here are the conversion rate from bigpay and master card website.

Tx Date Tx Amount (GBP) BigPay Charge (RM) BigPay Rate MasterCard Charge (RM) MasterCard Rate
2018-07-21 124.15 656.39 5.28707 661.76 5.330361
2018-07-22 88.38 468.74 5.30369 471.10 5.330361

I have no idea whats the formula from bigpay on converting GBP to MYR. But it seems lower than the mastercard rate and no admin fee.
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