Malaysia Payment Methods & Currency Exchange Guide

Malaysia’s official currency is the Malaysian Ringgit (MYR). Payment methods are diverse, with both cash and electronic options widely accepted. Contactless and mobile payments are increasingly common in urban areas.

• Currency: Malaysian Ringgit (MYR)
• Payment Methods: Cash, credit/debit cards (Visa, Mastercard, American Express), and mobile wallets (Touch ‘n Go eWallet, GrabPay, Boost). Apple Pay and Google Pay are accepted at select merchants.
• Contactless Payments: Widely available in cities, especially in retail, dining, and transport sectors.
• ATMs: Readily available in cities, airports, and shopping centers. International cards are generally accepted, but some rural areas may have limited access.
• Currency Exchange: Available at banks, licensed money changers, airports, and major hotels. Exchange rates and fees may vary.
• Foreign Currency Restrictions: Import/export of local or foreign currency exceeding MYR 30,000 (approx. USD 6,400) or USD 10,000 (or equivalent) must be declared to Malaysian Customs.
• Transaction Fees: Foreign card transactions may incur a surcharge (typically 1–3%) and ATM withdrawal fees (MYR 10–15 per transaction).
• Common Issues: Some small businesses and rural vendors accept cash only. Notify your bank before travel to avoid card blocks.
• Major Banks: Maybank, CIMB, Public Bank, RHB Bank.
• Regulations: Adhere to Bank Negara Malaysia guidelines for currency exchange and reporting large cash movements.