Currency and Payment Options in Malaysia

Currency in Malaysia: A Simple Guide for Tourists

Before diving into Malaysia’s rich culture, nature, and food, it's important to understand how money works here. The official currency is the Malaysian Ringgit (MYR), symbolized as RM. Currency in Malaysia used in all shops, restaurants, hotels, and transport services.

While digital and card payments are common in cities, cash is still necessary for rural areas and street markets. This guide will help you understand where to exchange money, how mobile payments work, card usage, tipping practices, and smart money tips for tourists.

• 1 Ringgit = 100 sen
  
• Notes: RM1, RM5, RM10, RM20, RM50, RM100
  
• Coins: 5 sen, 10 sen, 20 sen, 50 sen
  

If you want to explore Malaysia Tour Packages, do contact Gomayu.

Currency Exchange Options in Malaysia

You can exchange currency at banks, money changers, airports, and hotels. The best rates are usually found at licensed money changers in city centers or malls. Avoid unauthorized changers or those without clear signage and receipts.

Where to exchange safely:

• Licensed money changers in malls (e.g., Bukit Bintang, KL Sentral)
  
• Major banks like Maybank, CIMB, Public Bank
  
• Airport counters (lower rates, but safe)
  

Highlights:

• No passport needed for most exchanges.
  
• Bring clean USD or EUR notes for better rates.
  
• Compare rates before exchanging large amounts.
  

Digital Payment Options in Malaysia

Malaysia has strong digital infrastructure, especially in urban areas. Locals use Touch ‘n Go eWallet, GrabPay, Boost, and ShopeePay. Tourists can also use Apple Pay, Google Pay, or contactless Visa/Mastercard for payments at many outlets. Some local apps are not available to foreigners without Malaysian phone numbers or bank accounts.

For tourists:

• Use contactless cards, Google Pay, or Apple Pay where accepted.
  
• Avoid relying on local eWallets unless you have a local setup.
  

Highlights:

• Digital payments accepted in restaurants, malls, and transport apps.
  
• Cash is still needed for markets, taxis, and street vendors.
  
• Most tourist attractions accept cards or QR payments.
  

Credit Card and Debit Card Payments

Visa and Mastercard are widely accepted in Malaysia. Hotels, major restaurants, shops, and supermarkets allow card payments, while small businesses may prefer cash. ATMs are everywhere and support international cards.

Accepted cards:

• Visa, Mastercard, and UnionPay
  
• Limited acceptance for Amex or Discover
  

Highlights:

• Look for the card logo on payment terminals before using.
  
• Some merchants have minimum card spend of RM10–20.
  
• Notify your bank before international travel to avoid declines.
  

Tipping Culture in Malaysia

Tipping is not a cultural norm in Malaysia, but appreciated for good service. Many restaurants already include a 10% service charge in the bill. Tourists usually tip in hotels, with drivers or private guides, but it’s not expected in casual places.

When to tip:

• Hotel bellboys, room service, drivers, tour guides
  
• Upscale restaurants if no service charge is added
  

Highlights:

• RM5 to RM20 is a decent tip depending on service.
  
• Always tip in Malaysian Ringgit.
  
• No one will expect a tip, but it’s a nice gesture.
  

Useful Tips for Tourists

• Carry small bills for buses, snacks, and local shops.
  
• Use Google Maps to find nearby ATMs and money changers.
  
• Download a currency converter app for quick checks.
  
• Avoid carrying damaged notes they may be rejected.
  
• Use hotel safes to store extra cash and passports.
  

FAQs About Currency in Malaysia

1. What are the payment options in Malaysia?
You can pay using cash, credit/debit cards, QR wallets, and bank transfers. Digital wallets like Touch 'n Go and GrabPay are widely used.

2. How can you pay in Malaysia?
Use cards, mobile wallets, or bank apps. Most merchants support QR code scanning and contactless payments.

3. Is Malaysia using card or cash?
Both are accepted, but digital and card payments are becoming more common in urban areas.

4. How do tourists pay in Malaysia?
Tourists can use Visa/Mastercard cards or cash. Some mobile wallets like GrabPay also work with foreign cards.

5. Which payment options in Malaysia are accepted?
Malaysia accepts cards, QR-based payments, FPX (online bank transfers), and cash.

6. Is PayPal available in Malaysia?
Yes, Malaysians can use PayPal to send and receive money and shop online.

7. Which wallet is popular in Malaysia?
Touch 'n Go eWallet, GrabPay, and Boost are the most popular digital wallets.

8. How can I pay someone in Malaysia?
You can pay via bank transfer, DuitNow QR, or mobile wallets like GrabPay or Touch 'n Go.

9. Which payment gateway is best in Malaysia?
Billplz, iPay88, and SenangPay are widely used and reliable for online payments.

10. Is Google Pay accepted in Malaysia?
Google Pay is not widely supported. Most locals use GrabPay, Boost, or bank apps.

11. Which payment app works in Malaysia?
GrabPay, Boost, Touch 'n Go, and ShopeePay are commonly used for purchases and bills.

12. What card is best to use in Malaysia?
Visa and Mastercard are widely accepted. Some places also accept UnionPay and Amex.

13. How to pay cashless in Malaysia?
Use QR payments through GrabPay, Boost, or TNG eWallet. Link your card for top-ups.

14. Is Malaysia a cashless country?
Not fully, but it’s moving fast towards becoming cashless, especially in cities.

15. How much money is allowed in airport Malaysia?
You can carry up to RM 30,000. Declare if carrying more.

16. How to pay for a taxi in Malaysia?
Use cash, GrabPay, or pay through ride-hailing apps like Grab.

17. Which payment method is best?
Cards and QR wallets offer convenience and wide acceptance, especially in cities.

18. What are 2 most common methods of payment?
Cash and digital wallet payments are the top two in Malaysia.

19. What is the best phone pay app?
Touch 'n Go is top for transport and retail, while GrabPay is popular for food and ride services.

20. Can I use Cash App in Malaysia?
No, Cash App is not available in Malaysia.

21. Which bank supports PayPal in Malaysia?
Most major banks (Maybank, CIMB, etc.) allow linking debit cards to PayPal.

22. Is PayPal available in Nepal?
Yes for sending payments, but Nepal does not support receiving PayPal funds directly.

23. Can I use Binance in Malaysia?
Yes, Binance is available, but regulatory restrictions apply. Always check the latest rules.

24. What is the best way to pay in Malaysia?
Use cards or QR wallets for most purchases. Keep some cash for small shops.

25. Can Malaysia use Apple Wallet?
Yes, Apple Pay is supported by some banks like AmBank and HSBC in Malaysia.

26. What is the payment method in Malaysia?
Payment methods include cash, debit/credit cards, FPX, QR code payments, and mobile wallets.

27. How can I pay my friend?
You can use DuitNow, bank transfer, or a mobile wallet for quick peer-to-peer payment.

28. How to make a payment to Malaysia?
Use PayPal, Wise, or SWIFT bank transfers to send money from abroad.

29. What are the 4 special forms of payment?
Mobile wallets, debit cards, online banking, and QR codes are popular special payment forms.

30. What are payment plan options?
Installment payments (EPP), BNPL services, and credit card EMIs are available at many stores.

31. What are the most used payment methods?
Cash, debit cards, and mobile wallets lead the way, especially in urban Malaysia.

32. What are the methods of payment?
Cash, card, bank transfer, QR wallet, and eCommerce platforms are common options.

33. What are the types of direct payment?
These include cash, debit cards, and direct bank transfers (FPX).

34. What are the types of payment in kind?
Goods or services exchanged instead of money, used in informal or rural transactions.

35. What is FPX payment Malaysia?
FPX is an online bank transfer system allowing real-time payments using your banking credentials.

36. Which online banking is the best in Malaysia?
Maybank2u and CIMB Clicks are considered the most reliable for speed and features.

37. What is the most popular e-commerce platform in Malaysia?
Shopee is the most used platform, followed by Lazada.

38. What is payment option?
It refers to the method you choose to complete a transaction, like card or wallet.

39. What is a payment strategy?
It’s a business or personal plan for managing and executing payments efficiently.

40. What is a 4 payment plan?
It breaks the total into four equal payments, often offered with BNPL services.

41. Which country is top in digital payments?
China leads, followed by India and South Korea in terms of digital payment adoption.

42. What is the full form of UPI?
Unified Payments Interface – a real-time bank transfer system from India.

43. What is the global payment method?
Globally, Visa and Mastercard remain dominant. Digital wallets are rising fast.