Using credit card while traveling overseas will reduce hassle, but the usage transfer rate ?

CIMB/MBB is 1 % additional charge
Then transfer rate? about 1 % more above standard rate?


Visa convertion rate:
1000 EUR = RM4837

Google Rate
1,000 Eur = RM4,708

Maybank rate
1,000 = RM4,787

So if using card for 1k Euro you end up paying:

=RM4837
+ 1% = 48.37
= 4885

If change locally, the different will be:

RM4885 - RM4708. = RM173 difference

Betul?

depend on that day rate and bank rate

Please now ppl use Wise

sudah boleh keluar negara

ini kicimiou pun mau kira ker

Bring cash risk kena pick pocket. But it’s all up to u

Stick to what's really convenient, you're just ruining yourself being too particular

Credit card leads to be authorized usage from oversea....

Charge foreign currency to CC usually have better rate.

use wise/bigpay for exchange best rate.
if the limit not enough, use any existing credit card with best overseas cashback rate.

Change locally but when you go overseas and ex-rate went down, then you can rugi also

Use Wise and the credit card, best way to get the best rates.
I've used them all, AMEX, Maybank, Public Bank, Bigpay, nothing compares to Wise. I even use it for online purchases to get the best rates.

Ya, kena once , but still hasle to do reports for card replacement. Phone bill end up almost RM500, cabai.

I have certain thing to purchase and already identified the price. CC for emergency and some small purchase.

My card no need1

Never used any bank directly.

Bank charge 30% into exchange rates to export out then then import bank charge another 30% to convert into thier currency.


Best example, send direct from maybank online to my vietnam bank account. No WU.

Send USD100
Maybank deduct USD130
VietnamBank recieve USD70

Good luck on your international banking forray.
Learn from an old fool experience.

Ayam noob about wise.

Wise good ka?

Very good if you travel and use alot of different currency.
Its an app that you can load MYR into, and then change to different currencies. For example I put in MYR 1000, then when the market rates are good (their service fee is very very reasonable) I change to 100 USD and 100 EUR.

How to use that 100 USD and 100 EUR?

1) Apply for physical debit card, this card you can use overseas. If you go Europe and use it, it'll deduct from your EUR balance. If you use in US, then it'll deduct from US balance
2) Apply for virtual credit card, you can use this card for online purchases, depends on currency charged it will deduct from the respective balance you have
3) Transfer to overseas accounts. You can also receive payments in foreign currencies (you will get multiple bank account numbers that you can give to others to receive money into).

Its really flexible, and is basically the best card I'm using now for overseas or online foreign currency payments.

Edit: Wise is licensed and regulated in Malaysia. PM me if you want a referral code

This post has been edited by daijoubu: Dec 29 2022, 01:01 PM

nice. thanks for introduction
actually my sister asking me to signup, but haven't research on it

what about bigpay?

got those multicurrency account?

No Bigpay don't have that. What I use to like about BP is their low exchange rates fees, but the major difference is you only convert to the foreign currency at point of use.
Wise allows you to change at any time, so for example when EUR dropped to 4.5, i converted MYR to EUR and kept it because I knew I will be using it in future.

Its like changing physical cash to keep, but within the Wise account. Bigpay wont allow you to do that cause you can only hold MYR inside bigpay

This post has been edited by daijoubu: Dec 29 2022, 01:11 PM

is it better to have WISE for oversea trip while bigpay use locally / international purchase?

Can travel to euro but KPKB about RM170+?

Malaysia support Wise debit now? A while ago I thought they don’t allow registration for debit card outside of US and EU and maybe Aus

Edit: nvm looks like they’re here now https://wise.com/my/blog/the-wise-account-a...ded-in-malaysia

This post has been edited by KingArthurVI: Dec 29 2022, 01:24 PM

Locally I use local cards that give cashback
Overseas trip I use Wise exclusively for my own purchases, if under company then I use a card that gives me points

International purchases (for personal use) I mainly use Wise because of the savings in conversion. I also sometime use Wise to do international TT (TT to European banks from my experience is FOC) for certain purchases (like FB marketplace)

Yup already allowed as its now licensed and regulated locally

If you chase airmiles use credit card. No brainer. If you want to save and don't want to bring so much cash use wise and bigpay.

This post has been edited by Ramjade: Dec 29 2022, 04:14 PM

use credit card to charge debit card then cash-out at local atm or swipe debit card
inb4 bigpay

thanks2

Right now I'm using bigpay mainly to buy Switch game internationally (online)
if WISE Physical is prefer for oversea use , then I'll apply for one.

bigpay la

Credit card only, where got any extra charges fucking bull, as long you don't use CC to withdraw cash.

Anyways all talk like spending 50,000 om card, sohai eat meal 40 50 euro but count until cents

This post has been edited by rcracer: Dec 29 2022, 01:26 PM

Thanks bro, very well explained

Haiyo, if 10k euro = RM1700
Ayam can co obersea many times more by otak smart .

That money saved can go Hanoi, jumpa long legged Vietmoi.

If you can afford to splash 10k EURO in a trip, you can afford the measly RM1.7k

So stop sembang kencang

This post has been edited by msacras: Dec 29 2022, 01:38 PM

Hi Bro, i am quite a noob about wise and just got my card.

Since you’re wise about wise, could you help me.

If i am traveling to the UK, should i top up my MYR account then convert/transfer to the UK account? Or i could just top up my UK account?

Thanks in advance

Take note you cannot keep more than rm20k (and any currency equivalent to rm20k) in your Wise account due to Malaysian gov requirements. Wise will lock your account once you do that

Top up in MYR now into the MYR account, and you can decide to convert from MYR to GBP within the app whenever you are ready to spend in GBP
Then you will see the converted GBP appear in the app

You don't top up into your UK account per se (if you are using a Wise account opened in Malaysia)

U B40 go sembang tepi KEK

Ypu mean one time max, or finish can always topup but not more 20K?

Can always topup but no more than 20k at one time in the account. Thats like less than 5k pounds

depend on which country and also currency (eg: Poland, best is just the damn credit card)

big purchase mostly use credit card

bringing many cash around will attract unwanted attention


This post has been edited by fantasy1989: Dec 29 2022, 01:52 PM

I always swipe my cc when I travel abroad and withdraw a bit of cash using debit. Balik Malaysia bayar balik. Surprisingly conversion rates is quite cheap for Citi cards.

This post has been edited by meghamtaro: Dec 29 2022, 02:32 PM

My bank cc charge 1% sohai. Then better change to Siti as long no other hidden charge

Wise for personal use apparently won't let you hold more than 20k RM. That's not really enough for travel in rich countries.

Thank you wise one 🙏

But, correct me if im wrong, there will be a fee each time i convert my currency, right?

Only a problem if you plan to swipe a RM20k transaction.
If not I just use and top up MYR in between. As long as you can use TAC to approve top up via FPX, you can spend up to MYR170k per month using Chip+PIN transactions

Yes, but the fee is very low. For example to convert to USD 50 now I need RM221.18 + fee of RM1.28.

That works out to an exchange rate of 4.4236 (excluding fee) or 4.4492 (including fee)
About 0.57% fee on top of wise's exchange rate

For comparison Google's rate is 4.4235 so Wise's base exchange rate is basically the same.

Compare that to Visa's rate now which is 4.441996, which is already a 0.4% premium above Wise's, and on top of that Maybank/Public Bank will typically charge 1-2% further on top of that.
So unless you are using a credit card that is giving you good points, Wise can help you save

Either Wise/Bigpay/Standard Chartered Jumpstart Debit Card.

Wise have many problems with wave though, all the time cannot wave need to pin. Bigpay/SCB wave okay.

https://forum.lowyat.net/topic/1845691/+1740#entry106241565