GRABPay MasterCard

[Charlie_Zhan]

If you have selected the Agoda charges to be in SGD, there should not be a fee from GrabPay.

I'm in the midst of disputing multiple transactions with them and have given them a hard deadline of COB 10 January 2020 for a resolution. So, stay tuned.

In the meantime, for a little background and information of all GrabPay Card (physical or virtual) users, Grab cannot charge a DCC if they are not involved in the conversion. This is a service provided by Visa/MasterCard to merchants to bump up sales. Grab's explanation that the merchant is based overseas or that based on the merchants' MCC code hence a DCC fee is charges is both fraudulent and misrepresentative.

Nevertheless, they have charged me 0%, 1% and 2% on the same merchant's monthly recurring fee. Hence, their explanation has no basis on the inconsistencies of their practices.

Similarly, all users should be careful about using your GPMC through PayPal. If you choose a foreign currency to pay, that's fair enough and you'd be charge 2% which is lower than the banks. But if you choose the SGD option or use it to pay for a SGD transaction, there is a "DCC" of 1% on top, which should not be the case.

you sound like you have no idea how DCC works. DCC is not a service provided by visa/mastercard. it is a payment service provided by many other 3rd party payment processors in partnership with the merchants which provide currency exchange at a much higher markup to the benefit of the DCC provider and the merchant.

and since visa/mastercard loses revenue from being the one converting the currency, it levies a 1% fee on the SGD charged on the card instead. AMEX on the other hand doesn’t support DCC thus this fee is absent.

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[Otokiru]

You mean log out and login with other account? Is that possible to logon 3 accounts at one time?

ya i mean logout and login another account on the same android device...

Yes I think this. Bcos my family members using same device too to login for the cheat link.

u need ask grab support to unban you liao... just anyhow pom say u saw some fb grp post say login android device can get free $10 or something... lmao...

 

[yarhmeh]

you sound like you have no idea how DCC works. DCC is not a service provided by visa/mastercard. it is a payment service provided by many other 3rd party payment processors in partnership with the merchants which provide currency exchange at a much higher markup to the benefit of the DCC provider and the merchant.

and since visa/mastercard loses revenue from being the one converting the currency, it levies a 1% fee on the SGD charged on the card instead. AMEX on the other hand doesn’t support DCC thus this fee is absent.

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"Dynamic currency conversion (DCC) or cardholder preferred currency (CPC) is a process whereby the amount of a Visa or MasterCard transaction is converted by a merchant or ATM to the currency of the payment card's country of issue at the point of sale."

"DCC services are generally provided by third party operators in association with the merchant, and not by a card issuer."

"With DCC, the currency conversion is done by the merchant or their card processor at the point of sale. Unlike a credit card company, a DCC operator must disclose the exchange rate used for conversion at the time of the transaction according to credit card company rules which govern how DCC is offered"

Invoice in SGD, payment in SGD. No conversion = no DCC. Even if conversion is made back end, it is from Merchant's POS/ATM, not Grab.

I stand corrected that DCC is provided by Visa/MC, but it is essentially by Merchants' end of the system, not by issuers'. Hence, it is irrefutably a double charge of DCC or a fraudulant fee given no conversion was made by Grab. Country the merchant is domiciled in is not a factor.

Baseless ultimatums, perhaps. If they want to charge fees, I'm fine. But inconsistencies and lack of transparency will not be something MAS would tolerate under our banking system.

 

[hwmook]

Yes, that's what they say and it's normal for MasterCard or Visa to do so.

However, "Cross border processing fee (for Dynamic Currency Conversion transaction)" means a currency was converted. But if SGD was selected as the checkout currency, it's already built in for conversion on the Merchant side. So Grab is double counting and charging as their own fees.

I just made a PayPal payment. Mechant charged in USD, I selected PayPal's SGD option and Grab charged a further 1% because "PayPal is based overseas". This is not the case of how DCC fee is applied. It was already applied through PayPal.

DCC is typically charged by gateways like PayPal, Stripe or POS at the foreign merchant's store. Grab in this case is acting as a issuing "bank". Does not have the right to charge a DCC fee.

Comparatively, if you use a DBS/UOB/OCBC/etc. credit card overseas, if SGD is chosen to transact on that purchase, that exact amount you see from the POS receipt would be what's charged on your statement. No additional fees involved.

Ultimately, it's the consumer who chooses who to pay the conversion fee to. If a person chooses to pay in foreign currency, the bank charges the spread and fee embeded in the converson. If local currency is chooses, the gateway (ie. PayPal/Visa/MasterCard) processes the conversion and pockets the fee.

In Grab's case, Grab is double dipping on the conversion fees.

I confirm you do not have enough experience using credit cards. Almost all banks in singapore charged "cross border" fees for payment processors base overseas. This is leverage by Mastercard/Visa, not banks nor grab. They just pass on the charges, it has become a standard in Singapore. My friend just called me to ask me about these cross border charges using a UOB credit card last week. It's not known as DCC but cross border transaction fees, people just use the wrong terms here.

 

[Charlie_Zhan]

I confirm you do not have enough experience using credit cards. Almost all banks in singapore charged "cross border" fees for payment processors base overseas. This is leverage by Mastercard/Visa, not banks nor grab. They just pass on the charges, it has become a standard in Singapore. My friend just called me to ask me about these cross border charges using a UOB credit card last week. It's not known as DCC but cross border transaction fees, people just use the wrong terms here.

+1. it’s more or less confirmed by his last reply that he does not use cards enough to understand these charges.

if no conversion of currency but it’s sgd amount processed by overseas payment gateway = 1% cross border fees (similar to uber).

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[yoongmy]

I also experienced get charged for 1% DCC. Next time to book Agoda, need to use amex card. Amex card no charges for DCC

 

[Trazora]

I also experienced get charged for 1% DCC. Next time to book Agoda, need to use amex card. Amex card no charges for DCC

Can always use cards that give points and rebate that are still better even with the cross border fee.

 

[Vindicatum]

I just received my GrabPay card today but I haven't activated yet.

Just wanna ask something. I bought something from Shopee using the virtual card but cancelled the order in the end. I haven't gotten the refund yet. If I activate the card, will I still be able to get my refund? I've read that once you activate your physical card, your virtual card number will change. Scared later cannot get the refund :x

 

[Trazora]

I just received my GrabPay card today but I haven't activated yet.

Just wanna ask something. I bought something from Shopee using the virtual card but cancelled the order in the end. I haven't gotten the refund yet. If I activate the card, will I still be able to get my refund? I've read that once you activate your physical card, your virtual card number will change. Scared later cannot get the refund :x

Better wait till refunded

 

[xsoldix]

I just received my GrabPay card today but I haven't activated yet.

Just wanna ask something. I bought something from Shopee using the virtual card but cancelled the order in the end. I haven't gotten the refund yet. If I activate the card, will I still be able to get my refund? I've read that once you activate your physical card, your virtual card number will change. Scared later cannot get the refund :x

Yes. It will change your card details.
Wait for refund first i guess.

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[peppermint7]

Yes. It will change your card details.
Wait for refund first i guess.

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So does that mean all those $1 deducted not yet refunded will b lost as well?

Though I lost track if there are any which has yet to refund

 

[duststorm]

Wait for refund before activating new card

I just received my GrabPay card today but I haven't activated yet.

Just wanna ask something. I bought something from Shopee using the virtual card but cancelled the order in the end. I haven't gotten the refund yet. If I activate the card, will I still be able to get my refund? I've read that once you activate your physical card, your virtual card number will change. Scared later cannot get the refund :x

 

[dynlim]

I jz received (5 Jan) the refund from M1/Starhub for the verification fee paid on Nov 19, it’s was indicated as refund to old card number.

my new Grabpay Card with new number activated on 3 Jan.

So does that mean all those $1 deducted not yet refunded will b lost as well?

Though I lost track if there are any which has yet to refund

 

[Vindicatum]

I jz received (5 Jan) the refund from M1/Starhub for the verification fee paid on Nov 19, it’s was indicated as refund to old card number.

my new Grabpay Card with new number activated on 3 Jan.

Safe to say that it's okay to activate the card now? :0

 

[Charlie_Zhan]

I just received my GrabPay card today but I haven't activated yet.

Just wanna ask something. I bought something from Shopee using the virtual card but cancelled the order in the end. I haven't gotten the refund yet. If I activate the card, will I still be able to get my refund? I've read that once you activate your physical card, your virtual card number will change. Scared later cannot get the refund :x

you will still get you refund

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[zenical]

So interesting when I pay outside people are asking me what bank. I learnt to just say “international card” and I flash the card.

 

[koreanlover]

I jz received (5 Jan) the refund from M1/Starhub for the verification fee paid on Nov 19, it’s was indicated as refund to old card number.

my new Grabpay Card with new number activated on 3 Jan.

Need so long for refund of verification fee ah?
I have a $0.10 fee on 6 Dec still not refunded.

 

[IcYFl4mEz]

Got my grabpay card. But account still suspended n they sent mr msg saying after investigation they regret to inform will still suspend

 

[Charlie_Zhan]

Got my grabpay card. But account still suspended n they sent mr msg saying after investigation they regret to inform will still suspend

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[Otokiru]

Got my grabpay card. But account still suspended n they sent mr msg saying after investigation they regret to inform will still suspend

wah sad... inside got how much $ and points?