"Therefore, the merchants are motivated to pick an unfavourable rate to boost their profit. Citibank is not making any prediction of future movements in foreign currencies by virtue of providing the illustrative examples. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. For more information, please visit. S135 (S135.8 per cent) S138.78, currency conversion nz dollars to euros which is shown in one line in the ocbc statement.
"For these two cards, the fees are 1 per cent for Visa and 1 per cent for MasterCard. It notes that across banks, a Visa or MasterCard charge of 1 per cent would come with a bank charge ranging from.5.5 per cent. Citibank buys, citibank sells, canadian Dollar, cAD.9780.9405. Working through all the costs with an example Lets return to the first example and work through all the fees together. Foreign currency fees on your overseas credit card spending can get quite confusing because most of us dont deal with overseas transactions regularly, and they are usually in small print. All rates are subject to change without notice. ' singsaver CO-founder rohith murthy Correction note: An earlier version of the story said the foreign transaction fee for the cimb forex smart money indicator Platinum MasterCard was 1 per cent, and.8 per cent for the cimb Visa Signature Card. With events like these, and credit card issuers, retailers and tourism-related businesses dangling carrots and gimmicks to win customers, it can be complicated for the lone customer with a credit card to suss out what's best. Currency conversion fee imposed by card associations.0.0, administrative fee imposed by banks.8.0, total fees.8, plus the foreign exchange rate determined by Visa / MasterCard.0, plus the foreign exchange rate determined by Amex. Customers who have any questions about their legal or tax positions as a result of opening an account with Citibank or effecting any transaction on an account with Citibank should engage an independent legal or tax adviser as they consider appropriate. Now we can clearly see that each time you use your card overseas, youre subject to fees of 1-3.5 on your transaction amount in total. For all other cimb cards,.4 per cent for Visa and.4 per cent for MasterCard still applies." Mr Murthy stressed that consumers must watch out for foreign transaction fees when they travel and spend overseas.
Get daily foreign exchange rates for the US Dollar against 15 currencies including the Australian Dollar, Euro, Great.
Singapore Dollar, SGD,.0207,.9819.
Credit card transactions processed overseas are subject.
Inv est looks at some common matters about credit cards, currency conversion and fees.
Involves two exchange rates that are determined by your credit card network.