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Money exchange

Newmarket, United...
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Money exchange

We have now booked to go to the Magellan Sutera at the beginning of March. Could you please let me know the best way to take/exchange money. In Europe we always take Euros and then use our visa debit to draw money from the machines. Is it right, that we can take English bank notes and get them exchanged for Malaysian currency when we arrive? Thanks.

Carolyn

Wangaratta...
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for Kota Kinabalu, Wangaratta, Sandakan
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1. Re: Money exchange

Hi Skate1

Can't help you much with which currency to take other than you can exchange other curriencies easily. The hotel reception will exchange currency but the rate is not the best available.

I take a small amount, around MR100, for use at the airport if necessary, with me and then use a ATM machine, there are several on the first floor of Centrepoint and scattered around KK, to get extra MR. I have found this to be the easiest and gives a better exchange rate than the hotel.

I have a Maestro/Cirrus card.

Newmarket, United...
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2. Re: Money exchange

Thanks for your help BigW. I haven't checked yet, but can we actually order Malaysian currency before we travel and take it with us from the UK ?

Carolyn

Melbourne, Australia
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3. Re: Money exchange

Skate1,

We covered all three bases. 1) took travellers cheques 2) used Mastercard 3) took across Malaysia RM with us.

The best exchange rate I saw was at the local money exchangers in town offering around 2.9RM for each A$ in travellers cheques (cash was a bit higher but not much)

The second best was the Mastercard exchange on purchases at a rate of around 2.6-2.7RM per A$

The worst was at the hotel changing travel cheques/cash at around the 2.4-2.5RM per A$ and the money exchanges atthe Australian airport 2.2RM per A$ plus a fee.....

This should give you an idea of what the going rates are for each, obviously the Euro will command more than the A$.

If you can get hold of English pounds, the exchange rate was about 6.5RM/Pound..........lucky poms.... :)

Next time we go we will take cash and get it changed over there and/or use the mastercard for transactions, so my suggestion would be to do this or if you like the security of TC take them and change them there.

Hope this helps

Wangaratta...
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for Kota Kinabalu, Wangaratta, Sandakan
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4. Re: Money exchange

I exchange some money before I leave Australia but as mentioned earlier I limit the amount mainly because of the poor exchange rate as mentioned by bantamrmb.

Portsmouth
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145 posts
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5. Re: Money exchange

So as we are going from the UK in March - the best rate is for UK pounds - is that right?

Melbourne, Australia
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67 posts
139 reviews
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6. Re: Money exchange

If you can get hold of UK pounds, then yes, the pound commands about RM6-6.6. (when I was there in December '06 anyway)

USD is about 3.5-4.5

AUD about 2.4-2.9

Got to a money exchanger in town if you want the best rate, if you are exchanging only a small amount, then you wont see a whole lot of difference changing at hotel.

Franschhoek, South...
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1,008 posts
27 reviews
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7. Re: Money exchange

Hi Skate1

Generally travellers get a better exchange rate here in Malaysia. Bring at least a day or two's worth of Ringgit though, always nice to have it handy.

Pounds are readily accepted for exchange (one of the big 4 here - Dollar, Euro, Yen the other). The worst place, but often most convenient, is to change money at the Airport - terrible rates.

At Terminal One you have a choice of three exchanges and there's an ATM that will accept your Visa, Master, etc. and give you a better rate than money changers. Terminal Two, for the low cost carriers, have recently been revamped and I'm not sure about money changers and ATMs there.

Best rates are to be found at the money changers with the rates in white lettering on black boards behind a small barred window. There's one in the Centrepoint basement at the entrance to the supermarket - there's also a Maybank Forex counter - so you can compare the two.

In Wisma Merdeka there are two (one near the entrance and another near the Maybank ATM a little more inside). They give pretty good rates compared to the hotel and and airport - but I've found that for smaller notes the rates are not as good as big notes.

Hotels are slightly better than the airport and will also readily accept your Pounds for Ringgit. You can also pay in foreign currency in a few stores (Parksons Grand), but I think there you'd loose out more than at the airport - so use that one sparingly.

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sabahan
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8. Re: Money exchange

English pounds and Euros are readily exhanged in Kuala Lumpur International Airport FOREX counters. Several to choose from, before and after the immigation counter. In Kota Kinabalu, FOREX counters are also available at the airport but I suggest to shop around for a good deal at tWisma Merdeka, shooping mall next to Hyatt Hotel. At least 5 to 6 counters are availabe at the ground floor.

Aubrey

9. Re: Money exchange

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