Card transaction fees you may not know you are paying

zumaba

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So Amex is a better choice for foreign currency transaction given
- Amex exchange rate seems better (?)
- fee for 2.5%, comparing to bank Visa/Master card of at least 3.5% (1%+2.5%) ?

BTW, Where to find Amex exchange date on each day, like those for Visa and
Master?
 
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Trazora

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Dbs increasing the foreign currency transsction fee to 3% starting 2 Jan. Updated 2nd post

https://milelion.com/2018/12/26/dbs-increasing-credit-card-fcy-transaction-fees-from-2-8-to-3-from-2-jan-2019/
 
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Trazora

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Updated the foreign currency fee for OCBC, going to increase to 3% (from 2.8%), wef 15 Mar
 

lasnoblur

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did a 1st time airbnb transaction in SGD.

was charged additional 1% on cc statement compared to airbnb receipt. i spoke to bank CSO. she say is cross border charge.

i cancelled my booking within 48 hrs and supposed to get a full refund. because my friend booked another place. However, refund is much lesser. In total i lost about 90 sgd. CSO mentioned might be currency rate and she will help me to check and waive off.

How can receipt be different from what is charged?!
i even received sms that the amount charged is per receipt. however actual charges is being charged differently.

I will not ever use airbnb again.
 
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yiwei

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It seems that forex fees for the BOC Elite Miles card is 2.3% instead of the 3%.

Can I check if the conversion rate is determined by transaction date or posting date?
 

battledome64

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Hi I bought online at a website and it already quite in sgd however UOB one charged higher than my invoice. Why is it so
 

Tiger9119

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Hi I bought online at a website and it already quite in sgd however UOB one charged higher than my invoice. Why is it so

There is a 1% fee for SGD processed overseas. This fee is imposed by the credit card company.
 
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bakasa2002

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spotify has a fcy charge as the company is stockholm based as I was told. Anyway to get around this?
 

Tiger9119

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spotify has a fcy charge as the company is stockholm based as I was told. Anyway to get around this?

If you pay in SGD, the exchange rate will be bad plus 1% fee. Check the exchange rates used by Spotify.

Pay in Swedish Krona(SEK) if there is an option and the Foreign Currency Transaction fee is 2.5 to 3.5%(depending on type of card) but the exchange rate should be better than Dynamic Currency Conversion(DCC) and the rebates or miles you get may be more than enough to cover the fees (depending on the card you use).
 

jeffrey745

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did a 1st time airbnb transaction in SGD.

was charged additional 1% on cc statement compared to airbnb receipt. i spoke to bank CSO. she say is cross border charge.

i cancelled my booking within 48 hrs and supposed to get a full refund. because my friend booked another place. However, refund is much lesser. In total i lost about 90 sgd. CSO mentioned might be currency rate and she will help me to check and waive off.

How can receipt be different from what is charged?!
i even received sms that the amount charged is per receipt. however actual charges is being charged differently.

I will not ever use airbnb again.

Recently I also got charged on my debit card statement of $188 when the original airbnb charge was $183... I checked with airbnb they said its some cross border charge by credit card company...
 

bullsback

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anyone has the updated version for below? i know for a fact that, UOB debit card cross border is as high as 2.8%

ICBC still 0%?

This cross border fees is a killer for some transactions, like depositing SGD for a foreign forex broker.

DCC/cross border fees (as of 24 May 2017)

HSBC - 1% (start from 22 May 2017, 0% previously)
ICBC - 0%
OCBC - 1%
BOC - 1% (visa/masters), 0.6% (unionpay) based on TnC, though many feedback this is not charged
Maybank - 1%
UOB - 1% (visa/masters), (0% amex)
SC - 0.8% (visa)/1% (masters)
DBS/POSB - 1% (visa/masters), (0% amex)
CIMB - 1%
Citi - 1.0% (visa)/1.0% (masters) , (0% amex) Note: According to TnC, visa/masters DCC may be charged cross-border fees also.
AMEX - 0%

Note: The above applies to credit cards, the cross border/dcc fees for debit cards is usually higher.
 
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Trazora

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anyone has the updated version for below? i know for a fact that, UOB debit card cross border is as high as 2.8%

ICBC still 0%?

This cross border fees is a killer for some transactions, like depositing SGD for a foreign forex broker.

Is fees for depositing SGD for a foreign forex broker even considered cross border fee? More like cash transfer to foreign account
 

songsongmeow

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DCC/cross border fees (as of 24 May 2017)

HSBC - 1% (start from 22 May 2017, 0% previously)
ICBC - 0%
OCBC - 1%
BOC - 1% (visa/masters), 0.6% (unionpay) based on TnC, though many feedback this is not charged
Maybank - 1%
UOB - 1% (visa/masters), (0% amex)
SC - 0.8% (visa)/1% (masters)
DBS/POSB - 1% (visa/masters), (0% amex)
CIMB - 1%
Citi - 1.0% (visa)/1.0% (masters) , (0% amex) Note: According to TnC, visa/masters DCC may be charged cross-border fees also.
AMEX - 0%

Note: The above applies to credit cards, the cross border/dcc fees for debit cards is usually higher.
Any idea if amex is still 0% after all these years? Will be booking Airbnb soon
 
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