Originally Posted by
keepinitsimple
Used maybank horizon to Pay Cash+Miles with BD in the final rush before May 31.. 387 pounds for YQ+tax
A day later, I cancelled the ticket.
BD refunded after 1 week. Didnt have to call up.
After taking into accound the 25 GBP cancellation fee and currency fluctuation, Maybank has taken 50$ in currency admin fee both ways. Around 3% in the payment and another 3% on the charge back.
I will be calling them. If no resolution, it is a complaint to MAS. The BD charge back is to be treated as a refund!
Also btw, the notion that everybody has that Maybank has the lowest commission is crock. Tested that using a 1$ transaction over itunes minutes apart. Maybank was much higher than Amex plat.
http://info.maybank2u.com.sg/persona...editcards.aspx
http://www.hongkongcard.com/forum/fo...ow.php?id=6982
http://www.corporate.visa.com/pd/con...r_ex_rates.jsp
31 May: SGD2.012346/GBP
8 May: GBP0.507118/SGD
Note Visa has bid-ask spreads as well as fluctuations over time
GBP387 on 31 May is SGD778.79
1.5% fee by Maybank --> SGD790.46
1% fee by Visa (?) --> SGD798.26
GBP refund on 31 May is SGD763.14
1.5% fee by Maybank to process the refund --> SGD751.86
1% fee by Visa (?) --> SGD744.52
Difference Maybank is allowed to collect: SGD53.74