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Credit Cards What is Cross Border transaction fees ?, Charge by Visa / MasterCard

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umeshmalani
post Dec 21 2015, 05:46 PM

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Joined: Aug 2011


hi friends,

I've recently spent my cimb card overseas. They had informed me that the conversion rates comes visa international. Upon checking at visa website, there is a place where we can input our bank fees where i keyed in 1%. Upon checking my bill, i realised that i was overcharged with 1% extra by cimb.

This means visa gives a horrible exchange rate and top of that charges 1% exchange rate. Then Cimb charges 1% extra. Total is 2% instead of 1%.

Has any bro's been through this situation. I lodged official complain with BNM and guess what. i opened all my bill dated 7 years and got my extra 1% back. Please be aware!!!!!!!

 

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