if you dont have a credit card, bring some travellers cheques too, some countries have problems accepting credit cards from our local banks. so best be safe than sorry

Credit card is convenient, but the exchange rate also more expensive

To me I don't mind losing a lil bit of money from credit card transaction, somethings bringing too much cash is even more troublesome

i went to london on Mac 11th
what i observed from there is, the currency exchange there for Singapore Dollar to Pound was : S$2+ for 1 pound

in malaysia, RM2 for S$1
and Rm6+ for 1 pound

so, change sing dollar here before going to UK is a lot better than changing Pounds from here to UK

That is not that wise. There is a commission charge for every exchange. Furthermore, it is RM2.20+=SGD1. In the end, you get roughly the same qoute and you may lose out because of the commission.

This post has been edited by feynman: Apr 11 2006, 01:35 PM

Will be travelling to HK and ShenZhen next month. Want to ask whether Shenzen accepts HKD or vice versa?

Just some information, if you guys want exxxxxxxxpensive rate (to get more in expenses claim, obviously), change some money in either KLIA counter or any bank (especially public bank)

Yes, Shenzen takes HKD, but I suggest you trade ruminbi (CHN) currency....unless for emergency.

HK hardly accepts CHN currency.....2002/2003 travelling experience.

USD.....better.

may i knowthe current exchange rate for RM to SGD & where's the best place i can trade? because all these money changer selling SGD very expensive...

Anyone ever withdraw money from oversea ATM with maybank ATM card? Is there any transaction fees incurred?

I've been withdrawing from oversea ATM and checking my transaction history via maybank2u and it seems like there's no such thing as transaction fee, even though I've been told that it's roughly RM12 per transaction.

I've checked maybank2u faq and it seems like there is no "Oversea banking Transaction fee" mentioned either.

And another thing is, the Exchange rate used is amazingly cheap. I pay RM0.000443 for each rupiah when I exchange it in Airport but the rate i get via withdrawing is just RM0.0004 (which is much cheaper). In other words, even though RM12 transaction fee is incurred it is still cheaper if I withdraw 1 million rupiah.

It sounds like a good news but I just want to make sure about it.

Not sure whats best practice. But I feel changing MYR to HKD directly is the best choice. Reason being if you change all to USD, you suffer the exchange rates twice (MYR --> USD --> HKD) That's just my assumption though...

I would however guarantee that option 3 is the most costly one (though safest in terms with least cash on hand of course)...

That is because when you charge your Malaysian-based credit card, you are subjected to VISA/Mastercard's foreign exchange rate (not the issuing bank's) in which the rates I believe is not disclosed to the public. Taking the rates into account, whenever you charge your cc,- they will convert from HKD --> USD --> MYR, which is their standard practice that applies everywhere in the world; They will convert to USD first. I can quite confirm this statement...

Whatever it is....USD is the most widely acceptable currency.
I am currently in Libya, somewhere in the desert...and i tell u. USD is easier to change. Just a tip if u plan to go somewhere remote.

I will always go to mid valley to buy foreign currency.. there are 2 shops in the same row.. always compete among each other.. near the kfc and san francisco coffee escalator..

my advice:

1. buy the money that the country you will visit
2. have some USD for backup
3. have credit card ready since you never know how much you will spend there, if you exchange money overthere most probably u will never get the best rate. use the USD if you really need to..

well, i do not know about HK.. but for Phillippine..
is better you convert RM to USD then USD to Peso at Philippine..
you get more value than converting directly..
Actually i was given this advise from a banker at Penang Airport.
As what he said, Currency like USD, Euro, Pound and yen have better value as these are the commonly traded currency compare to the others.

No problem changing ringgit in Bangkok mall banks, better rate than in KLIA-LCCT. BUT .... LCCT bank did not have any -- ran out!

Japan, can VISA withdraw from any Post Office ATM. However, hefty charge added.

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contrary to popular believe, exchange rate on credit card transaction is quite reasonable or sometimes even better than normal exchange rate u get at money changer.

Yup couldn't agree more. I used my credit card for big purchases in HK. ATM withdrawals incur higher fees.

i'm going to singapore. wanna change to singapore dollar. any advise? Tmn Maluri Jusco is nearby my place maybe i shud go to the BestRate there?

For best exchange rates go to the money changer in KL Sentral next to Nile Bookstore. Lowest in town believe me!! About 2 weeks ago, changed USD for RM3.695 whereas other places only offer RM3.72. Also same time when GBP was at RM7.02, this guy offerign at RM6.99.

Note - for travelling in Japan:

Credit cards are really convenient for getting cash in Japan, esp since dealing with banks is really a pain even if you speak Japanese! Not all shopping area bank machines accept cards, but all post offices have English capable ATMs. This service used to be free, but now there is a hefty charge (on top of the behind-the-scenes rates from the banks and card issuers) , so use sparingly.

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