The amount not changed when posted?
According to the FAQ the exchange rates is based on reuters rates https://www.reuters.com/markets/currencies
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InstaReM's AMAZE MasterCard
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According to the FAQ the exchange rates is based on reuters rates https://www.reuters.com/markets/currencies
How to change? It immediately charged to my card.
like standard credit card the pending amount may be different from posted amount if the exchange rate on posting date is different from transaction date.
That is handled internally by the bank.
How can a merchant just change amount without another transaction?
Can I, as a merchant, charge you $1 and later change it to $100?
my actual experience is the same. Whatever initial amount charged to the card stays.
the exchange rate is handled by the bank/mastercard
not for the amaze card.
It immediately charges in SGD, so no MasterCard involved when charging the underlying card.
The bank and MasterCard should not be aware that it is a foreign currency transaction.
Could Amaze charge in foreign currency, then get MasterCard to convert it to SGD, then (maybe add their cut and) charge your card via SGD?
How Amaze converts foreign currencies into SGD, whether MasterCard rate or market + spread, I can't tell.
my USD charges used 1.3575 - 1.3576 on August 10th, very close to market rate, I think.
According to the FAQ the exchange rates is based on reuters rates https://www.reuters.com/markets/currencies
someusername
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Next time I make a payment I'll check it against the Reuters rate. Certainly there is no delay between when the Amaze debit card is charged and when the linked Mastercard credit card is charged and the SGD amount charged to the linked card doesn't ever change from the pending amount or the amount that can be calculated from the drop in credit limit until the time it actually posts.
My US visa credit card with 0% FX fees, from my experience. The rates are like fixed at around noon US time, then stays constant throughout the day (SG time). Not sure if it is the same for Amaze. This is only one particular bank, will be testing with another bank soon.
Normal credit cards follow Visa/MasterCard rate which is 1 rate for the whole day.
someusername
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When I used my Grab debit card overseas I was once charged additional new amounts several days after the initial transactions because the other currency had moved more than 3% (I think). I was directed to the Mastercard T&Cs which said that they can recover additional money to cover large currency swings that occur between charge and settlement. So MC (and Visa) debit card rates are not 100% fixed at time of charge. Of course Mastercard will not refund any money if the rate moves significantly in their favour.
Nice to know from both of you.
silverbomb
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Quick. Don't judge them based on that. They're alr said that it's due to the higher amount of applications for the backlog hence the card delivery delay.
silverbomb
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One for the dp. just did a transaction few mins ago and might seemingly so that Reuters rates and the rates charged to my DBS card does not tally.
23/08/2021
S$7.47
AMAZE* ROYAL MAIL G
May I know why? Does it comes with the credit card rebates?
Received and started using weeks ago
Yes, of course. Referring to better rebates or rewards given. If you don't care for credit card reqards then can just use any Mastercard.
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