Dynamic Currency Conversion

null

HongLeong Bank Logo
  • Islamic
  • Global Markets
  • Assurance
HongLeong Bank Logo
  • singapore
  • hong kong
  • vietnam
  • cambodia
  • ENG
  • BM
  • Personal / Sole Proprietor
  • Business
    • HLB ConnectFirst
    • HL Connect Biz
Islamic Global Markets Assurance
  • Our Story
  • News & Updates
  • Investor Relations
  • Sustainability
  • Awards
  • Management & BODs
  • Career
  • CSR
  • HLB Wallet
  • Debit Cards
  • Credit Cards
  • Loans
  • Bank Account
  • Insurance
  • Investment
  • Remittance
  • Multi-Currency Account
  • HLB Connect
  • Safe Deposit Box
  • Digital Solutions
  • Fixed Deposit
  • Credit Card
  • Personal Loan
  • Current / Savings Account
  • Complete Saved Application
  • Upload Documents
  • Track My Application
  • e-Invoice
PROMOTIONS
TRACK MY APPLICATION
/content/dam/hlb/my/images/Personal/Credit_Cards/dynamic-currency-conversion/dcc-banner.jpg
Islamic Global Markets Assurance
singapore hong kong vietnam cambodia
ENG BM
Suggested Searches:
Quick Link:
HLB Wallet Open Bank Account Credit Card Application Personal Loan Application
ABOUT US
Our Story News & Updates Investor Relations Sustainability Awards Management & BODs Career CSR
DISCOVER OUR PRODUCTS
HLB Wallet Debit Cards Credit Cards Loans Bank Account Insurance Investment Remittance Multi-Currency Account HLB Connect Safe Deposit Box Digital Solutions Fixed Deposit
APPLY ONLINE
Credit Card Personal Loan Current / Savings Account Complete Saved Application Upload Documents Track My Application e-Invoice
PROMOTIONS
TRACK MY APPLICATION

No Result

Filter by Banking Category:
All Islamic Global Markets
Filter by Type:
All Products Documents Tools Promotions News Help & Support Others

We have found 0 items that match what you searched for.

Popular Searches

Login to HLB Connect
Forgot HLB Connect Username / Password
Credit Cards
Personal Loan
Deposits
Promotions
Help & Support
Branch Locator
Contact Us
SHOW MORE

SHOW MORE
  • Consumer Services >
  • Dynamic Currency Conversion
Dynamic Currency Conversion

Dynamic Currency Conversion (DCC)

Apply Now

DYNAMIC CURRENCY CONVERSION (DCC)

Other services

Have you noticed that when you’re shopping abroad or on a foreign website with your Credit Card or Debit card/Debit card-i, the merchant may ask which currency you would prefer to pay in - Malaysian Ringgit (RM) or in the foreign country’s local currency? If you have opted to pay in RM, then you have opted for the Dynamic Currency Conversion service.

 

The Dynamic Currency Conversion (DCC) is a service provided by merchants (including overseas based websites) and ATMs to help convert your transaction from foreign currency to RM on the spot during your payment or cash withdrawal at the ATM.

 

Customers typically choose DCC for the convenience as the exchange rate, markup charge by the merchant and the final transaction amount in RM is calculated and make known to the customer on the spot.  However, the markup charge by merchants which is layered as part of the currency exchange rate is often higher than the markup charge by the bank if you have opted for a foreign currency transaction instead.

 

To help you understand better on the differences between a DCC transaction and a foreign currency transaction, here is a comparison:

 

Dynamic Currency Conversion (DCC)

Foreign Currency

Payment is made at the overseas merchants in:

Malaysian Ringgit (RM)

Currency of the country you are visiting or country of overseas based online merchant

Conversion rate

Determine on the spot by the overseas merchant or online store, including any markup charges.

Determine by VISA/Mastercard based on the date it is processed.

Fee imposed by the Bank

1% DCC fee on the RM amount representing fees imposed by VISA / Mastercard.

  i. 1% transaction fee charged by VISA/Mastercard; and

 ii. 1% foreign exchange conversion mark-up imposed by the Bank (Not applicable to I’m Credit Card.)

Pros

Know exactly how much you’re being charged in RM which is displayed on the merchant receipt or charge slip, each time you make a purchase. This can come in handy if you’re trying to keep to a budget while overseas.

  i. Acceptable at every merchant who accepts VISA/Mastercard.

 ii. Exchange rate is determine by VISA/Mastercard, which is on par with the international exchange rate.

Cons

The RM amount charged to your account may be higher, compared to paying in Foreign Currency as exchange rate used by the foreign merchant may be higher than exchange rate of the day by VISA/Mastercard plus any markup. At the point of purchase, you would not know the exact amount you will be charged in RM as this will only be shown in your next monthly credit card/current account/current account-i/savings account/savings account-i statements respectively.
Edit accordion component

Frequently Asked Questions

Frequently Asked Questions

For enquiries connect with us online or drop by your nearest Hong Leong Bank Branch.


Connect with Us

Branch Locator

External Link Disclaimer

You are leaving Hong Leong Bank's website as such our Privacy Notice shall cease. We wish to remind you on our terms on the use of links, Disclaimer and Reservation of Intellectual Property Rights.

Continue