I'm going to Hk & Taiwan next month. I'd like to know how you guys normally practiced on currency exchanging.

Do you guys:

1) Exchange a reasonable amount of HKD & NT and bring some USD just in case?
or
2) Exchange all to USD and change your money in the foreign country?
or
3) Bring less cash and use credit card most of the time for shopping?

4)What's the conversion rate for using credit card in foreign country?

5)Any good money changer in KL to recommend?

-post edited-


http://finance.yahoo.com/currency/convert?...&submit=Convert

BEST RATE

www.bestrate.com.my
Main Outlet Add: LG 153, Sungei Wang
Jalan Sultan Ismail, 50250 Kuala Lumpur.
Tel: 603-2142 6000, 603-2141 0600
Fax: 603-2141 0700
Email: bestrate@po.jaring.my

Branch Outlet: Add: G27 Jusco
Taman Maluri, 55100 Cheras, Kuala Lumpur.
Tel: 603-9282 7000, 603-9282 8000
Fax: 603-9282 6000

Associate Outlet: Add: LG-013 Mid Valley Megamall
Lingkaran Syed Putra, 58000 Kuala Lumpur.
Tel: 603-2287 2000, 603-2287 2122
Fax: 603-2287 7122

Add: LG-142 Sungei Wang
Jalan Sultan Ismail, 50250 Kuala Lumpur
Tel: 603-2142 5000, 603-2142 5500
Fax: 603-2143 5500

Best reference rate from Wawasan Sentosa (Mid Valley B1 Ctr Court)- Now replaced with My Money Master:
http://www.moneymaster.com.my/

Bank Negara exchange rate for comparing purposes:
http://www.bnm.gov.my/statistics/exchangerates.php

Others:
http://www.mymoneyshop.com.my/

This post has been edited by stimix: Jun 17 2012, 09:28 PM

hope this helps because i went to Taiwan and Hong Kong within a space of 2 wks
and will be going over to Hong Kong again...

i was at Galileo training when the trainer shared with us her version of the story.

she did not bring any US dollar and found out that hong kong dun accept MYR.. so.. bring USD.

people in hong kong heard about malaysia but our currency is not popular thus unaccepted.

the rate is HKD 100.00 to RM 48.00

Ringgit is still not tradable overseas, thanks to our ex-PM and his brilliant economic team. Surprisingly I found that in Dubai they do exchange MYR, of course you can use it in Southern Thai as well.

I always changed at KLIA, no point going around and shop for money changer, sometimes they dont have small notes, or not enought notes etc.

Always bring spare USD or Euro.

Credit cards is ok, you can earn some points
but check with local issuing bank for the rate

Try this site here if you're not sure about the exchange rate
http://finance.yahoo.com/currency/convert?...&submit=Convert

is that the normal rate or is it super expensive to exchange ringgit in hongkong?

but i heard changing in KLIA the interest is very high.

yes.. it's a lot high, when u change thousands.. and no discount too..

go to "best rate" to change.. it's the best money changer.. ask for discount when u change a lot..

if u change MYR to USD , then USD to HKD.. then u have gone through 2 money changer, then u lose your money interest even more.. change your HKD here in malaysia, then should be enough.. dun have to bring USD.. if emergency, use credit card..

standard rate ler...

HKD 100 to RM 48.00

about half

any 'best rate' branches in PJ?

try www.bestrate.com.my

Sorry but NO branches in PJ
nearest is MidValley

Our outlets are located at:

Main Outlet Add: LG 153, Sungei Wang
Jalan Sultan Ismail, 50250 Kuala Lumpur.
Tel: 603-2142 6000, 603-2141 0600
Fax: 603-2141 0700
Email: bestrate@po.jaring.my

Branch Outlet: Add: G27 Jusco
Taman Maluri, 55100 Cheras, Kuala Lumpur.
Tel: 603-9282 7000, 603-9282 8000
Fax: 603-9282 6000

Associate Outlet: Add: LG-013 Mid Valley Megamall
Lingkaran Syed Putra, 58000 Kuala Lumpur.
Tel: 603-2287 2000, 603-2287 2122
Fax: 603-2287 7122

Add: LG-142 Sungei Wang
Jalan Sultan Ismail, 50250 Kuala Lumpur
Tel: 603-2142 5000, 603-2142 5500
Fax: 603-2143 5500

I just changed in LAX, Los Angeles...
My big stacks of RM become thin pieces of USD...

hahah of course la my friend. USD 1 = RM ~4.00

where can i get iraqi money?

www.xe.com

With all the exports and trade surplus Malaysia is having, one would think we should be getting a better deal.

Also, with the relief of the mafia pegged rate against USD, the ringgit should
rise a bit higher against the USD or Euro., maybe around 3.6 to 3.7

It would be nicer if MYR goes back to the pre-'97 days, when it was like
1USD = MYR2.8 or MYR 2.9

This post has been edited by netfan: Mar 14 2006, 10:22 AM

I remembered it was closer to 2.5

IMO and experience,

Just change a reasonable amount of currency of that particular country you are going to, and bring along one credit card. Bring too much cash with u is not recommended.

You'll have to manage urself when to use the cash and when to sign card.

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.

111

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.

111

Try Mid Valley, 3.68 for USD before bargain =P

Changed USD at MV again today. Its 3.6595. Cheap for now =)

how much cash do you guys usually bring along with you
when traveling to North America?

I'm going to Bangkok soon. What's the best rates around so far? Please advise.

hey , 2.88 for 1 aussie dollar ok ar?

that's the standard conversion rate now, as i stay on the currency conversion rate flow everyday..good rate tho whatever it is USD is dropping..good chance for some opportunities

RM 1 = Baht 10? hehe

going to SG next week. anyone knows a good place to exchange MYR to some SGD ? i'm thinkin of a rm1500 exchange. will that amount be good enough to ask for a bargain anyway?

thanks

do change your currency before depart from checkpoint which is at JB downtown..you will lose out the rate if you get to change in SG...

Buy currency at the beginning of the week. Mondays and Tuesdays usually have the best quote.

Hi im going to Singapore this month too. Where can i get the best rate at PJ? Its just RM1k to 2k
will feel any different if go all the way to midvalley just to save the rate difference?

yes im going to singapore too this coming weekend,
Midvalley there is most worth to change one?

hello friends...is USD still dropping right now? Where can we get the best rate in KL area as i found out that money changers put high quotes for their profit. Thank you..

How can we get the main supplier of these money changers maybe? We can get good rate by dealing with this first supplier instead of other downline money changers..Please advise. thank u.

the money changers are usually kawan kawan, maybe LYN should identified some money changer and all go change at the same place, may be able to get better rates...

Am going to AUS to further studies, which currency exchange is good in town?

My past experience in HK:

1) Exchange a reasonable amount of HKD & NT and bring some USD just in case?
get some HK$ for emergencies and bring USD. the current exchange rate RM->USD is rather favorable.
3 days ago, i got 3600baht for USD100 in phuket while my friend get less than 10baht for RM1 in KL.
HK dun accept RM, even if they take, the rate is

2) Exchange all to USD and change your money in the foreign country?
not a bad idea but bring large note. go to the indian money-changer in HK. not only they giv better rates than the chinese money-changer, u'll also get better rate for large note. check the USD note u get in malaysia, try to get the newest notes possible. some money-changer dun accept note printed in the 80's

3) Bring less cash and use credit card most of the time for shopping?
i always use c/card at reputable merchant. rates usually more favorable than money-changer... with a bit of luck

4)What's the conversion rate for using credit card in foreign country?
u only know when u get ur statement. it'll be the current rate of c/card transaction

5)Any good money changer in KL to recommend?
sorry dunno

This post has been edited by ampangchai: Dec 28 2006, 06:59 PM

For me it doesn't really worth the effort to search for the best ex-rate around town. How much do u exchange for your 1-2 week oversea trip?? 1k, 3k, 5k?? Even for 5k, and a ex-rate difference of say 1USD=RM3.55 and 1USD=RM3.50 the difference is only RM20 bucks. What's the big deal?? Unless u r exchanging for 100k, then that may save u a few hundreds bucks.

Just go to any mamak money exchange inside the shopping complex and change ler and avoid banks and airport.

i'm planning to go to Thailand and Singapore soon. but due to our currency exchange rate for USD is getting stronger and stronger.
So should i buy in USD then go to Thailand or Singapore to change back their country note??although i knew tat if u change the note from another country to another country,u will get lesser.
But seem these 2 country not welcome RM. and the rate for RM to Thai Bath and Sin Dollar is about the same.
which way do u think is more profitable??
1.Get USD
or
2.Direct Change that Country note

Currently the Exchange Rate:(from Maybank)
1 USD = 3.5280 (last time is 3.8 right?)
100 bath = 11.6200 (unchanged)
1 Sing Dollar = 2.2935 (unchanged)

This post has been edited by Mclaren: Feb 13 2007, 05:23 PM

I'm not sure, but i guess, u might loose what u gained to the money changer, because u changed twice.

For bath, i think now they accepting RM also, i'm not sure whether all MC accept or not lar, but my father managed to change it at a better rate than here in haadyai. For bangkok, i also saw the money changer showing the exchange rate for RM near one of the famous buddha in Chinatown in bangkok, rate is better too....

This post has been edited by stormchaser: Feb 13 2007, 05:32 PM

well,tell u something strange..there no USD to Sing Dollar rate at most of the $$$ changer at Singapore.
is tat hint something??

all currency related topics should be discussed here. two similar threads merged...

Uhhhh no? I change when I see them accepting my cash and for anything else its card XD Yo juichuan! How's yr finals coming so far? XD

where is the best money changer that offers the best exchange rate in jb ?

Going to Shanghai next month, so anybody know where to exchange currency is best? From RM ---> Renminbi.....
Is it exchange when arrive Shanghai? or exchange at bank first? or airport?

100.00 MYR = 222.909 CNY

you can either change ur $$ here (at the bank or the local money changer) or at China.

Somehow, my gf whose in tourism line advises to convert the $$ here or before u makes the trip.

cheers.

The exchange rate usually can get is around 2.15. Just divide your RMB cost with 2.15 and you get the amount in RM

i got it for 2.4 in penang...cheers...juz yesterday changed it

rates are better from money changer rather than banks...

never change there... unless it's an emergency...

better change in malaysia... if you have time try to scout for the best rate offered by the money changer.. different money changer will offer different rate.. depend how much you want to change.. if minimal.. dont waste your time.. just change the currency.. if a lot.. better scout..

there's alot of fakes notes circulating china's market... changing $$ there will only increase ur risk.

cheers.

Any places with good exchange rates in PJ ?

All PJ/Subang Sunway & Puchong Money changers are suxx...damn expensive (Esp those in the curve)...The best &still the best wth the smallest rate differential between buy & sale are the 2 competing money changers located at the LG -Mid centre court nxt to LG level San Franscisco coffee

Change here better gua.....

Remember to go Yuyuan Garden and not to be missed Nanjing Tung road.. If you're non-muslim, try the siu long bau and hairy crab... but nothing special actually.. but it's famous there...

Do not forget to check the money changers located off busy areas, i.e. maybe shoplots near your house. There's one near my place that sometimes offer better rates.

mind to tell wat area izit? or how to go there?

i was in surabaya for last 2 year and going to ATM for check balance using BSN card ( VISA electron). they deduct about RM2.++ for this service and deduct RM12 for each withdraw. ar u really sure there is no surcharge for using maybank card in oversea?

agreed.. these 2 money changers always sell cheap compared to other money changer..

where is this place? mind to tell me? tq

2 places where I always go to for my currency needs:

1- Sungei Wang Plaza, theres a money changer close to Famous Amos I think, and they gave good rate (buying, not selling).

2- Mid Valley, theres a couple of money changer on the LG floor i think, one of em close to the elevator. You can compare both rates and choose the best one.

Hehe din realise I din disclose that Mall..It is located at LG of Mid-Valley Megamal...

Where is the best place to change HKD? I check at Plaza Central is RM44.50 change with HKD100. Any better rate?

To those who want to change RM to SGD...
If you've been to JB, you'll notice that the rates of RM to SGD is fixed around JB (Discountable though if you have large amounts)..
in Sing, the rates however are not fixed. Most of the time however, the rates in SG is better than the rates in RM especially if you go to City hall (commercial district)..
For example, if rate is 221.00 in JB (currently) and you're changing a few K, you'll probably get 222.00
but if you change in city hall most likely you can get about 222.70

DO NOT go to the money exchange counter at 1 Utama (the one near the Maybank ATM machine). I went to Pakistan and changed my Rupees at Sg. Wang (the best one is near the middle shops, not big ones or the one near the extrance, can't remember the name though). anyway, the exchange rate was ok (RM1=Rp0.5). When I came back with some Rp left I changed at 1 Utama. Since most of the shops do not have Pakistani Rupees rate displayed, and I was in a hurry. After I arrived home I found out they only gave me RM1=Rp0.32. I was furious and went back and gave them a thorough lesson on integrity and honestly, with many customers watching. They just acted stupid until I asked for their business card and said I would file an official complain. They suddenly retreated and gave me back RM19 !! FYI my exchange loss due to their dishonesty was more than RM200.

Thanks for warning. I assume you forgot to check on the spot cos u were hurrying?

I'm going to Spore next month. Is better to change in spore or KL? Anyone know the current rate?

It would be better if you change it in Spore as they provide higher exchange rate compare to KL, majority people change their RM to SGD at woodlands cause of higher overturns and competitive market.

If you have malaysian friends working in singapore then i will suggest you to exchange with them cause end of the day they will still come to JB and change their SGD to RM. So it's a win win situation

This post has been edited by CWKS: Aug 1 2007, 12:03 PM

is this a good time to change for Australia $? I already survey the exchange rate these few days and to my astonishment, the AU$ dropped from 2.95 to 2.81 in just 2 days!!! wah could it drop till 2.70?

guess it will drop to.. maybe.. 2.78 or 2.75. earlier in june it was 2.85. then in july went all the way up to 2.97. lolz..

May I know what's your best exchange rate for Indonesian Rupiah?

I checked the rate last weekend, 1 million Rp for RM375 compared to 2 weeks back 1 million Rp for RM385.

When do u usually change the currency? Near departure date?

May I know what is the latest exchange rate for Baht? The exchange rate calculator from Maybank website only showing at 8.6. Is it really that low?

Try wawasanmoneychanger.com.my =)

What's the best place to exchange for buy or sell US currencies now and its rate? Anyone?

Thanks!

wawasan is offers quite good rate, considering they're in MV, convenient!

for Malaccan, best rate can be acquired at the moneychanger near Madam King..a small shop (in a coffee shop). offer quite good rate in Melaka...cheaper than the one in Mahkota...

Suggest you check out the Mid-Valley Money changer at LG.

Should be about RM10.20 to RM10.50 for Bath 100/-. If you are the the Thai Border like Chunglung/Hatyai then it would be better there.

In Bangkok the rates is pretty lousy. Better rates if you change form US to Bath.

---

Added on September 4, 2007, 1:58 pmCheck out Mid Valley - LG. Both Money Changer there are Okay . But check out their Rates before transaction.

This post has been edited by sunshine-kc: Sep 4 2007, 01:58 PM

hey guys!!! i need your advice!

I will be leaving for UK on the 26th of september, and i need around 500 sterling pounds.

I have monitored the exchange rate for the past few weeks and the pounds exchange rate is really levelling, day by day...

i am willing to buy the pounds if the rate is somewhere below 7.05 but looking at the situation now, i doubt whether i can get such price.

Any speculation for the pound rate, of whether it will continue to rise or drop?? or any advice regarding what is the best rate for me to start buying, looking at the fact that i do not hv sufficient time to continue speculating the rate.

thanks!

can i use my Maybank ATM card in European countries to withraw Euros?

What are the conditions required and what are the fees that i might need to pay?

Oh, thanks for the heads up!

By the way, is it better to change at banks or money changers as i'm going to singapore soon

hi fren, going to paang indonesia,

which one is better, get rupiah at KLIA or at padang indonesia?