Dec 18 2018, 09:55 PM
QUOTE(kart @ Dec 8 2018, 07:02 AM)
ClarenceT
I successfully used Visa Direct (provided by Maybank and Public Bank respectively) before, and I can transfer fund to my overseas debit card. The fund is reflected in the savings account linked to the debit card, so there is not issue at all to withdraw the money from a ATM with that debit card.
Back to the question of tax refund in foreign country, the overseas Customs are considered as the merchant in the payment card transactions. I have not tried before, but Customs should be able to charge the refund amount to a debit card.
Since the refund amount will be processed via Visa and MasterCard payment network, it does not matter whether the card is a credit card or debit card, logically speaking from the Customs point of view. The only difference is that Customs should pay less merchant discount rate, if the refund amount is charged to a debit card.
Anyway, I am suggesting debit cards to be used for tax refund in foreign country, so that we can avoid tax refund wiping out all cashback given to a credit card.
If it is unavoidable to charge the refund amount to a credit card, it is best not to use that credit card for a month, or until the cashback of the month has been posted to that credit card.
Customs in Australia manage to process tax refund to my MasterCard debit card and also tax refund handling company in SG also manage to process refund to my MasterCard debit card and also visa debitI successfully used Visa Direct (provided by Maybank and Public Bank respectively) before, and I can transfer fund to my overseas debit card. The fund is reflected in the savings account linked to the debit card, so there is not issue at all to withdraw the money from a ATM with that debit card.
Back to the question of tax refund in foreign country, the overseas Customs are considered as the merchant in the payment card transactions. I have not tried before, but Customs should be able to charge the refund amount to a debit card.
Since the refund amount will be processed via Visa and MasterCard payment network, it does not matter whether the card is a credit card or debit card, logically speaking from the Customs point of view. The only difference is that Customs should pay less merchant discount rate, if the refund amount is charged to a debit card.
Anyway, I am suggesting debit cards to be used for tax refund in foreign country, so that we can avoid tax refund wiping out all cashback given to a credit card.
If it is unavoidable to charge the refund amount to a credit card, it is best not to use that credit card for a month, or until the cashback of the month has been posted to that credit card.
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