let's say we are going for a vacation overseas...
is it more worth to change cash in local money changer and spend cash there or use the visa card there instead?

it brings some peace of mind not needing to bring so much cash overseas..

i have a horrible experience in thailand.
where the the bank there directly convert the currency from THB into RM for me and the rate is RM1 = 8.89 THB while money changer can get RM1= 9.36 THB.

This post has been edited by sjz: Jul 28 2013, 07:23 PM

Yup..
I just realised its DCC which is a scam...

Remember to mention to the merchant to charge in LOCAL CURRENCY (eg. not RM) before let them take your card to prevent any issues after they swap the card...
Do not agree to pass them you card if they refuse to charge in Local Currency.
So far this worked in Phuket Thailand, where there is no DCC transaction so far for around 10 transactions made over there and by asking the merchant in prior to charge in Thai Bath..

This post has been edited by sjz: Aug 23 2013, 07:28 PM

yup...their exchange rate is always about 5% mark up from the prevailing rate...
and the merchant get a share of comision with the DCC fees u pay..
and some credit card issuers still charge 2% (1% by Visa, 1% by bank) even u use DCC!!

yup...i think it should be DCC...
the receipt does it got some long word like
"i am offered a choice to pay in local currency and i agree to pay in local currency with the Visa/Master reference rate and mark up stated clearly"

yup...
u won't lose a fortune....since its just less than 5% difference (usual bank charge 2%, DCC won't be more than 7-8%).....
but the figures would add up if every transaction is in DCC overseas..

This post has been edited by sjz: Sep 9 2013, 01:13 PM

bigpay and tng visa, their rate worst than credit card? (exclude those 0% foreign fee card)

This post has been edited by sjz: Apr 11 2023, 04:28 PM

i use Wise Card, TNG Visa & GX Bank DC since they offer 0% forex markup.
i think their rate is among the best in town

This post has been edited by sjz: May 28 2025, 09:55 AM

the fee they charge is only about ~0.5%.
while their exchange rate is same as market rate (eg xe.com)

This post has been edited by sjz: May 29 2025, 10:48 AM

taken into account 0.5%, yes it would be different.

else, the rate is very same as XE.com.

a very good example, as we speak now,
Wise rate RM1= 0.2066 EUR
Xe.com RM1 = 0.20664214 EUR
VISA rate 1 MYR = 0.209731 EUR
Mastercard rate 1 MYR = 0.21 EUR

This post has been edited by sjz: Jun 2 2025, 08:43 AM