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Malaysia forum

Changing Money...

Posted by mizsarah on 21/7/2009 at 23:28

Posted from within Vietnam.

Hi there,

Just trying to get a sense of changing $$ in Malaysia... ATMs? Conterfeit money? US $ changed in banks? Pay for stuff in US $ ?

Thanks in advance!

#1 mizsarah has been a member since 9/7/2009. Posts: 6

Posted by somtam2000 on 22/7/2009 at 05:36 admin

Like anywhere else - change your cash at a money changer and be sure to double count the cash they give you. Can't think of any reason why Malaysia would be different to its neighbours in this regard.

#2 somtam2000 has been a member since 21/1/2004. Location: Indonesia. Posts: 7,707
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Posted by SBE on 22/7/2009 at 15:55

Authorized moneychangers rather than banks in Malaysia. You get a better rate. I've a feeling the ATMs sometimes cough a bit when you don't use locally issued bank cards but don't quote me on that.

#3 SBE has been a member since 14/4/2008. Location: Global Village. Posts: 2,037
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Posted by BruceMoon on 22/7/2009 at 17:27

sarah

Malaysia has a reputation for dealing only in Ringgits. I doubt that anyone would give you a fair rate of exchange if you thrust US$ under their nose.

I use an overseas card at ATM's in Malaysia. Great! No international card use fee charged at the Malaysian end, and direct connection to my bank in Australia. I just go to the ATM at the air terminal and get what I need.

If you want to change money into MYR, I find the better value money changers in KL are located at the northern end of Chinatown around Jl Tun HS Lee to Lebuh Ampang. Just watch what you are given (in case of a mistake).

Cheers

#4 BruceMoon has been a member since 27/12/2008. Location: Australia. Posts: 1,941

Posted by whiteelephant on 22/7/2009 at 17:28

when changing money make sure you count notes twice, esp those of similar colour. Locals often count very very quickly as theyre used to coounting very large quantities. Don't feel you need to rush, take your time and count at your pace.

#5 whiteelephant has been a member since 22/7/2009. Posts: 15

Posted by idreamofdurian on 23/7/2009 at 01:52 TF writer

International ATMs are everywhere... lots of authorized money changers in KL who give good rates and no commission. Cash transactions in Ringgit only. Hotels, nice restaurants, and larger shops will take credit cards.

#6 idreamofdurian has been a member since 5/9/2008. Location: Singapore. Posts: 576
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Posted by SBE on 23/7/2009 at 02:18

I wasn't sure about ATMs because my card got repeatedly refused in Penang a few years ago.

Probably my bank's fault rather than Maybank's. My wretched bank in France sometimes won't even let me buy a seat on Air Asia because it's a company based in SE Asia!

#7 SBE has been a member since 14/4/2008. Location: Global Village. Posts: 2,037
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Posted by idreamofdurian on 23/7/2009 at 02:31 TF writer

I've used my Canadian bank card and my HSBC bank card all over Peninsular Malaysia and Malaysian Borneo with no problems.

#8 idreamofdurian has been a member since 5/9/2008. Location: Singapore. Posts: 576
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Posted by limeandsoda on 27/7/2009 at 14:21

Have used Australian bank cards in ATMS all over PM and borneo too, also no problems.

#9 limeandsoda has been a member since 29/10/2007. Posts: 10

Posted by heart08 on 30/7/2009 at 13:52

For your convenience, bring your credit card especially those recognized worlwide

#10 heart08 has been a member since 29/7/2009. Posts: 3


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