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Currency Exchange

Currency Exchange in KL & Penang?

13 years ago, July 13th 2010 No: 1 Msg: #115570 Delete Edit

NV1
N

N Posts: 14

Any recommended places to get money exchange in KL & Penang? thanks =) Reply to this

13 years ago, July 14th 2010 No: 2 Msg: #115662 Delete Edit

Sir Halberd
Hal

B Posts: 366

I don't remember any big problem changing money over in Malaysia. You can also use an ATM with a debit card too. Just remember to bring currency that is in good shape, newer series, no tears, writing or worn marks. Overseas they are worried about counterfeit currency and can be picky.

If you fly into KL you can change some over at the airport, Google check will give that info.

Where you will probably get a lower rate of exchange is at hotels and stores unless the store clerk screws up.

When I was in Butterworth (train station for Penang area) I had to use the money changer at the train station, I didn't need much and it was good enough. I spent the night in Butterworth 2 years ago when I was using a train from there going through KL and on to Singapore. Many years ago when I was staying longer in Malaysia, I just used a money changer in Penang and KL, not as good as Thailand but not as bad as other countries.

When you change your money over count your money in front of the clerk BEFORE you walk away. Once you walk away you own it! If you use an ATM make sure you tell your bank ahead of time or the withdrawal may not be authorized because they suspect fraud. When I use an ATM I prefer to use it when the bank is open in case the card gets stuck or something the clerk can get it back.

Lots of info on this if you use Google and just try different phrases like "money changers in KL or Penang" or "best place to change money in Malaysia" or words like that. You will need money to pay for taxi or bus rides so at your first point of entry you will have to change some over. For cash I only bring the largest currency I can get to cut down on bulk. What clerk wants to handle a lot of single dollar bills or other small currency when he can work with a $100 bill or similar foreign currency.

One good source of local information is local expat forums. Like this one:

Good luck.
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13 years ago, July 14th 2010 No: 3 Msg: #115682 Delete Edit

NV1
N

N Posts: 14

Thanks. It's helpful. I'm taking a bus to KL so hopefully i'll see some place where i can exchange money. Reply to this

13 years ago, July 15th 2010 No: 4 Msg: #115701 Delete Edit

Sir Halberd
Hal

B Posts: 366

If you get the bus in Hat Yai you can probably get a few ringgits from a Thai bank money changer just in case you want to get something to eat when the bus makes a stop in Malaysia.

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13 years ago, July 15th 2010 No: 5 Msg: #115774 Delete Edit

NV1
N

N Posts: 14

i'm heading out to KL from SG (bus). I'm hoping to find the exchange place quick & look for place to stay. Reply to this

13 years ago, July 16th 2010 No: 6 Msg: #115789 Delete Edit

Sir Halberd
Hal

B Posts: 366

There are money changers at the airport in Singapore if you are flying in. They may have some ringgits they can get rid of. If you are leaving from a city bus station there may be a money changer available near by just ask someone.

You will get a better rate in Malaysia though (usually) so only change a enough to hold you over.

Know what the daily exchange rate is so you don't get burned. Reply to this

13 years ago, July 16th 2010 No: 7 Msg: #115844 Delete Edit

NV1
N

N Posts: 14

thanks for the tip. Reply to this

10 years ago, November 26th 2013 No: 8 Msg: #177388 Delete Edit

deleted_278279
deleted_278279

D Posts: 2

Just knowing the daily exchange rate won't benefit you a great deal. I believe the best place to get great rates is online. <snip>

[Edited: 2013 Nov 27 01:54 - Roosta:95057 - No commercial links in the forums please. See TOS]

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10 years ago, November 26th 2013 No: 9 Msg: #177397 Delete Edit

Sir Halberd
Hal

B Posts: 366

"Just knowing the daily exchange rate won't benefit you a great deal..."

*

I disagree.

How would you know if the money changer you are at has a good rate or not without having done some prior research? There are still a few skunks out there! Trust but verify! Everyone should know ahead of time approximately what rate to expect when changing money over!

Original post is over 3 years old. Guess they got their money by now! Reply to this