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a VirtualTourist member

Penang

all about the money...

Is it neccessary to have some Dollars with me (or are Euro as good) to change at the arrival in Malaysia or ist it ok just to get the money (RM) from the cash machines?



7 Answers


answered by
a VirtualTourist member from Denmark

All 3 things are fine.
I have been to Malaysia several times recently and spend 2 months there in 2012 and i use ATM's all the time.

In Penang you have lot's of exchange offices in George Town in particular and you will never have problems exchanging any free currency there.




answered by
a VirtualTourist member from Richmond

easy to get it from the ATM and cash it out in the next country you go to

cheers tommy x




answered by
a VirtualTourist member from Puerto Princesa

Penang is just like any modern city so you can use ATMs anywhere. Always handy to have a few euros or dollars on you.




answered by
a VirtualTourist member from Karachi

We found Penanag among the easier places to exchange the currency, dollars to MYR, and that too on the good rates.

There were many money changers at Prangin Mall, and I believe there will be more elsewhere. We compared the rates before exchanging though the rate round about the same.

While going for money exchange, I always look at the spread, i.e. the difference between the buying and selling. Usually the difference is not more than 1% in countries which are liberal in currency exchange.

I also check the rate on google also to have an idea of what should I expect and add 0.5-1% commission usually. To get rates on google just type EURMYR and you will get the reference quote.

The major advantage of physical exchange is that one can save the bank commission on exchange which is usually 3% and mostly incorporated in the exchange rate itself.




answered by
a VirtualTourist member from Penang

In Malaysia, any currency is as good as any currency. You do not have to convert into any currency, just bring your own currency to change here.




answered by
a VirtualTourist member from Richmond

is this a ad for business, VT guidelines do not permit this.

cheers tommy x




answered by
a VirtualTourist member from Richmond

atm is a good source, but always carry cash for emergency

cheers tommy x





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