I’m writing this post just in case if someone asks why the currency exchange doesn’t match with their calculator.
The bank that issue my card is Jenius. Jenius stated in their FAQ (Jenius Debit Card → Jenius Debit Card Usage) that they use Visa’s currency exchange rate, with 3% bank fee to “anticipate the fluctuating foreign currency conversion rates”. Ok, this is quite make sense.
One day, I randomly checked one of the transactions, and cross-checked with what Visa provide in their website. For this particular transaction I got charged IDR171.432, for USD10. On Visa’s Exchange Calculator, this transaction should be IDR168.971.
I have contacted the Customer Service team about this, and here are their statements:
Subject: Jenius Exchange Rate Inconsistencies With Visa Exchange Calculator
From: Chris <▓▓▓▓▓▓▓▓▓▓▓@gmail.com>
To: Jenius-Help <[email protected]>
Date: Jun 25, 2024, 11:49 PMHi Jenius Team,
My name is Chris, and my cashtag is $▓▓▓▓▓▓▓▓.
When comparing the rate used for my transaction to the Visa Exchange rate (available at Visa Exchange Rate Calculator) with the Bank Fee set to 3% as stated in your FAQ (Jenius Card FAQ) as “Biaya Prinsipil,” the numbers do not align. Specifically, I was charged 171.432 IDR instead of 168.971 IDR.
While the difference is only 2.461 IDR, it raises concerns about the exchange rate Jenius is using. The FAQ clearly states that the Visa exchange rate is used, but the figures do not match, and the rate applied by Jenius appears to be less favorable than the one provided by Visa.
Could you please elaborate on the exchange rate calculation that Jenius uses? I have attached screenshots of both the transaction charge and the Visa Exchange rate calculator for your reference.
Thanks.
Subject: Email Respons to Mr ▓▓▓▓▓ Christianto CRM:▓▓▓▓▓▓▓▓
From: Jenius-Help <[email protected]>
To: Chris <▓▓▓▓▓▓▓▓▓▓▓@gmail.com>
Date: Jun 26, 2024, 12:36 AMNo. Ref: CAS-24-▓▓▓▓▓▓
Dear Mr ▓▓▓▓▓ Christianto,
Thank you for contacting the [email protected] email service.
Let me introduce myself, Johnny, the correspondent staff who will help you.
Responding to Mr Surendra’s email dated 26 June 2024 online transactions. We apologize in advance for the inconvenience you experienced.
We can say that there are differences in nominal transactions because the visa exchange rate fluctuates according to the exchange rate in effect at that time, so differences in exchange rates can occur.
We hope that Mr Surendra will be pleased with the information we have conveyed.
Thank you for contacting Jenius. #EverythingThere is a Point with the Jenius Credit Card. Optimize Credit Card transactions and get Yay Points which can be exchanged for various rewards such as Point Miles for Travel, e-Wallet and Eat&Shop. real time exchange from the application, no need to wait!. For further information, visit www.jenius.com.
That is the information we convey, if you still have further questions, please contact Jenius Help at 1500365, email to [email protected] or live chat service via the Jenius application.
Thank you for your attention, Mr. ▓▓▓▓▓ Christianto
Best Regards
Johnny
Contact Center BTPN
[Signature]
Since this doesn’t answer anything, I asked them back:
Subject: Re: Email Respons to Mr ▓▓▓▓▓ Christianto CRM:▓▓▓▓▓▓▓
From: Chris <▓▓▓▓▓▓▓▓▓▓▓@gmail.com>
To: Jenius-Help <[email protected]>
Date: Jun 26, 2024, 8:33 AMHi Jenius Team,
I appreciate your response, but unfortunately, it doesn’t address the questions I raised in my previous email.
While I understand that fluctuations can occur, my understanding is that these fluctuations should only affect present transactions, not those in the past. If you look at the screenshot I provided, the date of the transaction is in the past.
From what I know, Visa should already account for fluctuations at the time of the transaction, as they need the specific rate to convert between currencies. Therefore, the rate shown in the exchange calculator should already include any fluctuation component. It doesn’t make sense that a recorded transaction could still be subject to further fluctuations.
Could you please check this again?
Thank you so much for your assistance.
And their reply is as expected: repeat the information.
Subject: Email Respons to Mr ▓▓▓▓▓ Christianto CRM:▓▓▓▓▓▓▓
From: Jenius-Help <[email protected]>
To: Chris <▓▓▓▓▓▓▓▓▓▓▓@gmail.com>
Date: Jun 26, 2024, 9:13 AMNo. Ref: CAS-24-▓▓▓▓▓▓
Dear Mr ▓▓▓▓▓ Christianto,
Thank you for contacting the [email protected] email service.
Let me introduce myself, Johnny, the correspondent staff who will help you.
Responding to Mr Surendra’s email dated 26 June 2024 online transactions. We apologize in advance for the inconvenience you experienced.
We can say that the visa exchange rate is fluctuating and can change at any time even on the same day, resulting in differences in exchange rates.
We hope that Mr Surendra will be pleased with the information we have conveyed.
Thank you for contacting Jenius. #EverythingThere is a Point with the Jenius Credit Card. Optimize Credit Card transactions and get Yay Points which can be exchanged for various rewards such as Point Miles for Travel, e-Wallet and Eat&Shop. real time exchange from the application, no need to wait!. For further information, visit www.jenius.com.
That is the information we convey, if you still have further questions, please contact Jenius Help at 1500365, email to [email protected] or live chat service via the Jenius application.
Thank you for your attention, Mr. ▓▓▓▓▓ Christianto
Best Regards
Cindy
Contact Center BTPN
[Signature]
I’m still confused which exchange rate did they use, why is it less favorable for me?
Just in case if you’re wondering who Mr. Surendra is, I asked them too!
Subject: Re: Email Respons to Mr ▓▓▓▓▓ Christianto CRM:▓▓▓▓▓▓▓
From: Chris <▓▓▓▓▓▓▓▓▓▓▓@gmail.com>
To: Jenius-Help <[email protected]>
Date: Jun 26, 2024, 9:48 AMHi Jenius Team,
Thank you for your response. However, I still don’t understand the details provided.
You keep referencing Mr. Surendra’s email in your replies. Just in case I’m missing something, could you please provide me with a copy of Mr. Surendra’s email dated June 26, 2024, that you are using as a reference?
Thank you so much for your assistance.
This time, there are two emails arrives on my inbox. One from Cindy (from the earlier replies after Johnny) re…conveying the information they have spewed earlier but with names corrected, and one from Firda genuinely apologizing for their colleagues mixing up my name with other customer, it was supposed to be my name all along, not Mr. Surendra.
Nevertheless, my questions remain unanswered, and I am still not pleased.