Common use of OVERSEAS TRANSACTIONS Clause in Contracts

OVERSEAS TRANSACTIONS. 14.1. The Cardmember may use the Credit Card outside Malaysia where there are Authorised Merchants and/or Authorised Cash Outlets. 14.2. The Cardmember may use the Credit Card for cash withdrawal through designated ATMs installed in such approved countries as shall be announced by Maybank and/or any Merchant Affiliate of American Express from time to time. 14.3. Where the Cardmember uses the Credit Card outside Malaysia, the transactions shall be charged in the official currency of the country concerned and converted into Ringgit Malaysia at such exchange rate and at such time as it is determined by American Express or Mastercard/Visa International at its absolute discretion. 14.4. Wherever applicable, the Cardmember shall authorise Maybank to take such steps to comply with the relevant Exchange Control Regulation issued by Bank Negara Malaysia in respect of any overseas transactions. 14.5. All foreign charges converted by American Express apply a conversion factor of 2.5% to the converted amount. A charge that is made in foreign currency other than U.S. Dollars will, when the conversion is done by American Express, be converted into U.S. Dollars before being converted in the Cardmember billing currency. 14.6. Transactions conducted outside Malaysia will be converted to Ringgit Malaysia on the date the transaction is received and/or processed. The converted amount is shown in the Cardmember’s statement. The exchange rate may differ from the rate charged on the date of transaction due to market fluctuation. The exchange rate used to convert the transaction made in foreign currency represents a bundling of currency conversion components of 1.25% imposed by Visa International or Mastercard International and 1% or at such other rate imposed by Maybank.