QUESTION: Hi, Will be in Malaysia for two weeks in September. I plan to use an ATM card to get cash.
What fees should I expect? Do they vary by Malaysian bank? if so which are the most reasonable? Also are the fees the same in KL, Kuching, and Kota Kinebalu?
ANSWER: Yes they do vary bank to bank.
Firstly Skip the money changers at the airport they are savage.
I only use Maybank now at ATMS
You will have no troubles though if you want to use US dollar. the public money changers, and there is also plenty of them paying in excess of 4 ringitt to the Y=US. But also they vary a bit also.ain to get in there. But fees should be the same.
But cash is still far the best.
The areas you mention are in East Malaysia, you need your passport ag
---------- FOLLOW-UP ----------
QUESTION: Ron, Thanks for the prompt response.
I need a little clarification on your response. If I interpret correctly, you said 1. that fees vary by bank and that Maybank has low fees.
2. money changers in the city actually pay a better exchange rate than ATMs, above 4 to 1
3. we can use US dollars in stores.
Is my interpretation correct?
Other questions: 1. I presume new bills are necessary.
2. are there money changers at somewhere like the KL Pavilion?
1. Fees yes they do vary. Maybank generally regarded as number 1.
2. Money changers definitely pay better than ATM. And around Pavillion there are plentty of them.
Pavillion is at Bukit Bintang. Great shoppong centre. Great food in lowest level food court. Try the the teppenyaki.About $5 US
3. Most of the stores just take ringitt, but they will take your card.
$ yes new bills are favoured. Also from the Pavillion there is a completely covered walk, air conned, wdown to Kuala Lumpur City Centre, KLCC, and that is also where you can buy tickets to go up to the twin towers viewing platform.