Originally Posted by percysmith

Let's just say DGMAX needs to pay HKD5M in USD
I'm implicitly assuming Visa and local banks charge same T/T exchange rate before fees

Option 1: T/T to local USD account and pay merchants from there.
I further assume he funds his US account once a month so he runs up $1,260 T/T fees per year http://www.bochk.com/web/common/wide...&fldr_id=30575

Total cost: $5,001,260

Option 2: Use Public Bank Visa
Net 0.4% fee (1% Visa fee less 0.6% rebate)
Total cost: $5,020,000

Seems like Option 1 is the option to beat.

Option 3: pay 1.95% and earn $4/mile
Total cost: $5,097,500
Miles earned: 1,274,375

Incremental cost of option 3 over option 1 = 97,500 - 1,260 = $96,240
Cost per mile: $0.0755

Not that pricey but depends if you can burn that many...

There also may be the option of a cash discount if you have to pay millions into a merchant. That will drive up the cost of miles even more...