I used my visa on 29th August but the cashier said the transaction failed..she tried 3 times and said all failed..but today, I view my statement on m2u..there are 3 same transaction which claimed failed by that cashier...how to claim back this issue?should I call maybank or go back to that shop?please advice

Plan A : You may attempt to ask the shop to do a transaction reversal for you. However, the shop may not know how to do this thus go to the next plan.
Plan B : Call up the bank and ask them to do a transaction dispute. Note : this will take time (up to several weeks) and the transactions will still not disappear from your M2U anytime soon. Many previous readers thinks that transaction dispute take a few days (and some think instantaneously) to clear off.

Hi, I had a foreign currency transaction on 28 Aug 2011 posted on 30 Aug 2011 using amex. The amount is £81 (RM406.35). How could I know what is the forex rate used by mbb and how much the admin charges imposed? thank you..

This post has been edited by celaw: Aug 31 2011, 06:31 PM

On a rare visit to Pizza Hut, asked for Maybank discount. They insisted discount only for cards exactly as shown in the advertising photo (ones with all gold and silver face?), then made me pay full price.

I called card CS and they said any MBB card should be accepted.

111

Quite simple mathematics right ?
Amount charged = RM406.35 vs GBP81 which give you 5.0167
Use any forex website or Wawasan to look for GBP forex on the 28th Aug. Difference between the both are the admin charges.

P/S The last few steps are for you to do it yourself. May I know why you wish to know the forex rate and the admin charges ?

If me, I would have stood my ground. (If I knew I had a case)
Either accept, call your manager/area manager/GM/country manager/headquarters for confirmation (or risk advertisement fraud) or I'm only going to pay after a written explanation from the branch manager as to why the card is not accepted as I will submit this as proof to their HQ later.

Hahaha ...

GBP81... Hmm.. Paid for ACCA paper? If yes, did you get the 5% cash back?

To be more accurate, charges is based on the forex rate on the posting date and not transaction date. Note that the rate used is up to the immediate second and varies slightly between Visa/MC/Amex. This explains why foreign transactions posted on the same day usually have different forex rates.

u r right:)

waiting for 1st Sept to see the cash back amount..

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Added on August 31, 2011, 11:16 pmjust curious to know the mbb rate only.. haha.. btw, is amex admin charges =2.5%?, if yes, could i just divide the total amount by 1.025 and then only divide by 81 to get the forex rate?

This post has been edited by celaw: Aug 31 2011, 11:18 PM

From what i understand is that it is the other way around. Forex rate is be based on the transaction date and not posting date.

If you still receive paper statements, check the back regarding foreign transactions. At least for the most recent MBB statement I have, it is mentioned the exchange rate is based on when the transaction is received and/or processed. Due to transaction lag, this will typically not be the transaction date.

This might be true. I always noticed this when I was using my SCB back then. There were days where there was a huge gap between the posted and transaction date and unfortunately the posted date was the more expensive forex rate.

For those sensitive travelers/credit card users, my personal recommendation is to best use MC/VISA from MBB. The lower forex rate helps + you get points for spending. Using AMEX from MBB is probably akin to using the most expensive forex conversion for MC/VISA from other banks around town. And please bear in mind whatever card you are using from whatever bank, there is always the additional percentage applied by the bank ... which to avoid the charges then pay in foreign cash. (Not practical coz you have to pay in person ... imagine paying for a book from B&N or Amazon in person. Flight fees already in the range of thousands)

Or even to pay for your expenses while on holiday. I can't imagine bringing RM10K in your pocket running around in a foreign country.

There's always a slight premium to pay for convenience. Credit cards offer enhanced safety as well when it comes to disputes.

This post has been edited by hye: Sep 1 2011, 12:44 AM

I do agree that MBB VISA and MC always have the lowest forex rate. Nowadays when I am in overseas, I would use Maybankard 2 Visa for personal expenses and Maybankard 2 Amex for company stuff because of the 5x TPs.

Did anyone got their 5% cash back -AMEX by today?

today off day. check it on tomorrow

Very likely will be credited in by tomorrow instead of today.

You are probably right. Just checked the "IMPORTANT INFORMATION ON YOUR STATEMENT" at the back of my MBB statement and from what is written there, any charges involving money conversion will indeed be done only on the day the transaction is received and/or processed. However, we are still not sure yet if the posting date is the same date as the transaction received/processed date. Anyone working in the bank can shed some lights on this issue ?

ya, 2nd

rebate for Aug in already. check yours now.

Yes, it's in!