Currency Converters at Langkawi, Malaysia

andman01 on 15/04/2023 - 01:48
Last edited 15/04/2023 - 15:04 by 2 other users

My family and I are going on an international holiday to Malaysia for a week (first real holiday in over a decade!). We'll be heading directly to Langkawi via a connecting flight from KL. I have a debit card that charges for every international purchase and an additional surcharge for cash withdrawal so I'm not looking to use it.

What are some good options for converting some dollarydoos to Malaysian Ringgits? Reading a few posts here seem to indicate the best rates can be found in KL city but I won't have time to go outside the airport. Are there any places in Langkawi that offer rates better than the booths at KL airport?

(Mod: No selling or buying in forums)

Thanks for reading

• 

  Lunarboogie on 15/04/2023 - 07:17

  Username checks out.

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  CyberMurning on 15/04/2023 - 08:39

  +2

  Gessus.. who ozb that still using shop to convert… get citi debit card, ing, Macquarie and maybe others…
  Convert via atm. Better rate, easier.

  • 

    Baysew on 15/04/2023 - 15:02

    The OzBargain way. - Debit & Credit Cards with no international fees

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  deme on 15/04/2023 - 09:43

  +1

  Just use your ing card

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  bargaino on 15/04/2023 - 10:18

  Ah, the old days of going down the alleyway to the Indian shop with a money-changer booth in the the back, to get the best rate in town for your smuggled USD. Or street-vendors if you are brave. It is so boring now, just using an ATM.

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  eug on 15/04/2023 - 10:31

  +1

  As mentioned above, it costs nothing to get a bank account that has no fees for international withdrawals. Just stick with big-bank ATMs to avoid fees that small providers charge, similar to here.

  e.g.
  CitiBank Plus (only till May 23rd)
  UBank
  ING

  There is no surcharge on the exchange rate which is typically better than what you get from money changers. You also won't have to carry a wad of cash around.

• 

  Will146 on 15/04/2023 - 10:40

  +1

  Sign up for Revolut. Transfer money & just spend on debit card. Only place you might get stung is ATM redrawals depending on which Malaysian bank you use but for a week you would only need to make one withdraw so only looking at $6-10fees. Love Langkawi, one place I would really like to go back too. It's like Bali 20 years ago but cheaper.

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  andman01 on 15/04/2023 - 10:44

  Thanks all!

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  renjer on 15/04/2023 - 11:45

  -1

  Just a note - Malaysian ATMs do charge around 4-6% exchange rate fees, so I'd still advise looking for a money changer to change your cash, if possible.

  • 

    eug on 15/04/2023 - 12:00

    The ATM asks you if you want to use their marked-up conversion or to proceed without conversion. If you accept their marked-up rate then yes, you will get a worse exchange rate. So just don't accept their conversion "service".

    This is what the prompt on the ATM screen looks like. The conversion will then be done by your Australian bank. If you use one of the suggested banks with no conversion fees, there will be no currency conversion fees.

    • 

      renjer on 15/04/2023 - 14:13

      I see. When I was in Malaysia last I came to this screen and did not accept their markup. However, I didn't get any ringgit dispensed in return. Perhaps there might be an issue with my card.

• 

  rdes86 on 16/04/2023 - 08:10

  If you are flying with Airasia, a nifty trick is pay cash in Oz dollar and they used to give you the change in Malaysian Ringgit. I don't know if Air Asia still does it.
  A lot of corner stall and small shop do not accept paying by card in Malaysia(had this issue in KL last year). Most bigger restaurant and shop will accept a credit card.

  Cash is still king on some occasion. I would carry some aussie dollar to change in case you can't use a card and will save on transaction fees at ATMs. They are still money changers around in Langkawi but the rate is not as great as money changers in KL but it will far less costly than ATM fees that you pay.

  We are doing a similar thing when we are there in June in Langkawi.