Money, Currency and Cards in Malaysia
Local Currency
Malaysian Ringgit (MYR)
General Advice
It is recommended that you travel with the Pound Sterling or US Dollars cash. Banks are authorised for foreign exchange and major hotels are authorised to buy or accept foreign currency notes and traveller's cheques. It can be difficult to change money outside the main tourist centres. ATMs are common in larger towns and cities and are a convenient way of obtaining local currency. Travellers' Cheques are accepted by all banks, and many hotels and larger shops but to avoid additional commission chargesit is best to take them in Pound Sterling, US Dollars or Australian Dollars.
Money Exchange
Almost all cities have official money changers either in the form of banks, major hotels or local money changers. Rates do vary, so it’s best to check a couple of offices. Outside of the larger cities and tourist centres it is very difficult to change money so ensure you travel with sufficient before heading off the beaten track.
ATM Availability
Widely available in all major cities and large towns these are a convenient way of obtaining local currency. For more information check the Visa ATM locator, the MasterCard ATM locator or the American Express ATM locator for the addresses of ATMs around the world.
Credit Cards
All major credit cards are widely accepted at shopping malls, major hotels, tour agencies and entertainment outlets, less so in smaller shops, restauants etc.
Travellers Cheques
Most people travel with cash or using debit/credit cards today and thus don't rely on the traditional travellers' cheque. They are replaceable which is of course their primary benefit, but commission charges make them somewhat expensive. Travellers' cheques can be changed at banks and authorised money changers all over the country; it is best to carry them in Pound Sterling of US Dollars.
Other Information
Malaysian Dollar or Ringgit (MYR; symbol RM). The Ringgit is nominally divided into 100 sen. Banknotes are issued in denominations of 1000, 500, 100, 50, 10, 5, 2 and 1 RM. Coins are issued in denominations of 1 RM, 50 cents, 20 cents, 10 cents, 5 cents and 1 cent.
