QUOTE(winner @ Jun 21 2009, 08:06 AM)
Well, MBB sent me Amex gold charge card last month although I didn't apply for it. At the back of this card, it reads like this: THIS CARD IS ISSUED BY MBB PURSUANT TO A LICENSE FROM AMEX. I believe MBB took over operation of Amex in M'sia by contributing a contract fee and incentive fee to Amex. MBB owns the rights to operate it with the license from Amex.
As mentioned in my previous post, AMEX Malaysia is operating like a franchise. MBB owns the rights to American Express Malaysia with them paying a royalty fee to American Express Limited in USA every year. Maybank didn't merge their own credit card business with AMEX. These two still operate as separate entities.
QUOTE(winner @ Jun 21 2009, 08:06 AM)
With this, I think the monthly statements of all Amex cards in M'sia are sent out directly from Amex office owned by MBB in M'sia, don't need to go through its regional HQ in Hong Kong.
Negative. The statement for all AMEX issued by AMEX itself are prepared and sent out from American Express regional office in Hong Kong.
QUOTE(winner @ Jun 21 2009, 08:06 AM)
Pertaining to overseas transactions, the foreign currency is first converted to USD, before the USD is converted back to RM. In the event that it involves two conversions, the 2.5% commission charge is only applied to the 1st conversion from foreign currency to USD.
You will also lose more in FOREX.
This post has been edited by MilesAndMore: Jun 21 2009, 07:15 PM