Mar 19 2016, 02:59 PM
QUOTE(leonardchin @ Mar 19 2016, 02:45 PM)
Allow me to share my experience with using HL Wise for overseas transaction recently in Bangkok. I have dining as one of my chosen category.
Merchant : THE FIFTH FOOD AVENUE BANGKOK TH
MCC : 5814
Amount in THB : 798
Transaction Date : 05 March 2016
Posting Date : 06 March 2016
Converted amount to MYR : 93.77
Based on this the exchange rate used by the bank would be 100THB = RM11.75. Before leaving Malaysia, I exchanged cash at money changer for 100THB = RM11.90 at USJ.
However there is a 2% Visa admin fee which brings the total charged to RM95.65. You will only get to see the total charged to your credit card in your statement. You would need to call up CS to get the converted amount to MYR before admin fee.
The 10% cash back is only for the converted amount and does not include the 2% admin charge. So the CB for the transaction would be RM9.38.
Overseas transaction posting are now also very fast as compared to a couple of years before when it took weeks.
Hope this information helps those who have questions about using HL Wise for overseas transaction.
I not sure about your case, but for my case the cashback is give based on the total amount after convert shown in statement. I believe the total amount already include all the admin charges with is 2.x% most of the times for my case in Singapore. Merchant : THE FIFTH FOOD AVENUE BANGKOK TH
MCC : 5814
Amount in THB : 798
Transaction Date : 05 March 2016
Posting Date : 06 March 2016
Converted amount to MYR : 93.77
Based on this the exchange rate used by the bank would be 100THB = RM11.75. Before leaving Malaysia, I exchanged cash at money changer for 100THB = RM11.90 at USJ.
However there is a 2% Visa admin fee which brings the total charged to RM95.65. You will only get to see the total charged to your credit card in your statement. You would need to call up CS to get the converted amount to MYR before admin fee.
The 10% cash back is only for the converted amount and does not include the 2% admin charge. So the CB for the transaction would be RM9.38.
Overseas transaction posting are now also very fast as compared to a couple of years before when it took weeks.
Hope this information helps those who have questions about using HL Wise for overseas transaction.
Well, I always use this HLB card to swipe here. Even take in consideration of all the admin charge, annual fee,etc.. I still can get roughly 5-6% effective cashback. Still not a bad card consider the credit card in sg are not as attractive as malaysia.
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