Are you going on a trip to Malaysia soon? Then it is useful to know in advance about withdrawing money, paying with your debit or credit card, and what costs are involved. In this blog, we explain exactly how cashing out in Malaysia works, what you can expect in terms of costs and give useful tips to avoid surprises.
General information on Malaysia
Are you planning a trip to Malaysia? Then check out our tips for the best travel period, daily budget and convenient visa information! Find all information on Malaysia here.
What is the currency of Malaysia?
Let's start at the beginning! In Malaysia, you pay with the Malaysian ringgit (MYR). A euro is on average about 5 MYR worth, but this can of course fluctuate. You can find the current rate via exchange rate sites or the apps below. The ringgit is abbreviated as RM or MYR, and the money is easily recognised by the colourful notes and coins.
Tip: In Malaysia, 100 ringgit notes are not welcomed with open arms everywhere. Especially at small shops or street food stalls, you may be out of luck. Not because they don't trust you, but simply because they often don't have change. So make sure you always have some smaller notes in your pocket that!
PIN payments in Malaysia, what should you consider?
From bustling cities like Kuala Lumpur to the tranquil tea fields of the Cameron Highlands and the paradisiacal beaches of Langkawi: Malaysia is a diverse destination. Whether you take a street food tour, ride the tuktuk through George Town or rent a scooter on an island, you will eventually have to pay everywhere. So it's smart to prepare your money matters well too.
1. Important to arrange before departure
Before you leave for Malaysia, it is important to know the function ‘PIN payments outside Europe’ activate it on your bank card. You can easily arrange this via your bank's app or online banking. Do you forget this? Then your card simply won't work outside Europe. Also check immediately whether there is a limit stands on cash withdrawals abroad. This way, you avoid nasty surprises when you stand at a vending machine.
2. Can you use a Dutch debit card to withdraw cash in Malaysia?
Yes, you can just use debit cards with a Dutch bank card (if equipped with Maestro or V PAY), but for this you must first turn on world payments via your banking app before you leave. However, we recommend you always bring a credit card too!
Tip: Always take more than one pass with it. This will prevent you from running out of money if one pass doesn't work.
3. What does PIN payments in Malaysia cost at Dutch banks?
Now that you know how to use your debit card to withdraw cash, it is useful to know what it will cost you! The costs for debit or pay with your Dutch debit or credit card vary per bank. Below is an overview of the fees at the three largest Dutch banks.
| Service | Rabobank* | ING Bank* | ABN AMRO Bank* |
|---|---|---|---|
| Pin card: Paying in foreign currency | €0 + 1.4% exchange rate surcharge | €0 + 1.4% exchange rate surcharge | €0.15 + 1.2% exchange rate surcharge, per time |
| Pin card: Withdrawing money at an ATM | €0 - €3.50 (depending on payment package) + 1.4% exchange rate surcharge | €3.50 + 1.4% exchange rate surcharge | € 2.25 + 1.2% exchange rate surcharge |
| Credit card: Paying in foreign currency | €0 + 2% exchange rate surcharge | €0 + 2% exchange rate surcharge | €0 + 2% exchange rate surcharge |
| Credit card: Withdraw cash dispenser | €4.50 + 2% exchange rate surcharge | 4% of amount withdrawn, minimum €4.50 + 2% exchange rate surcharge | 4%, minimum of €4.50 per transaction + 2% exchange rate surcharge |
* Data shown is from July 2025. Click on the bank name in the table for more information.
4. Always PIN larger amounts (instead of often small amounts)
When you see the amounts and percentages above, you also understand that the costs can quickly add up, especially if you often withdraw small amounts. We therefore always have 1 rule, namely: as much as possible in one debit.
By PIN by the way, we mean withdrawing cash, these fees do not apply if you pay in a restaurant or hotel, for example, using your debit or credit card.
After all, you don't just pay a fixed withdrawal fee, but also a rate surcharge on foreign currency. Depending on your bank, you'll soon be about Lost €6 or more. That seems little, but on a multi-week trip, it can add up quite a bit because you can maximise your RM 1,500 can record (about € 302).
Tip: ATMs are especially easy in cities and tourist areas. But once you travel towards the countryside or islands, ATMs are limited. So make sure you always have enough cash with you.
5. Always choose the option - withdrawal without conversion
Besides exchange rates and bank transfer fees, there is another point to watch out for. This is because while withdrawing money, you always get 2 options:
- ‘Withdrawal with conversion’
- ‘Withdrawal without conversion’
Select always for ‘without conversion’. Why? If you choose ‘with conversion’, the local bank determines the exchange rate. And believe us: they often take a considerable margin. By choosing ‘without conversion’, you use the (usually cheaper) exchange rate of your own bank. That will quickly save you a few euros per transaction.
6. Which bank should I choose in Malaysia?
Not every bank is as friendly to foreign debit cards. Therefore, it is smart to withdraw at a reliable, large bank. We ourselves have good experiences with Maybank but other large banks are also reliable:
- Maybank (our favourite): Largest bank in Malaysia, lots of ATMs, mostly no extra fee for foreign maps.
- CIMB Bank: Second largest bank, good network, often no or low cost, reliable automatons.
- HSBC Malaysia: International bank, fine choice in cities, sometimes a small fee.
- Public Bank & RHB Bank: Slightly less international, sometimes additional charges or lower limit per withdrawal.
Tip: Avoid Euronet ATMs or anonymous ATMs without a bank logo. These often charge high fees and give unfavourable exchange rates.
Read also: Planning your own round trip? Here's how to do it in 9 steps!
Read also: Everything you need to know about buying a SIM card in Malaysia
Our tips for safe and smart banking in Malaysia
We've already given some tips but we can't repeat them often enough. Besides, we assume everyone will be pinning in Malaysia a few times anyway so these facts will come in handy!
- Activate your debit card via your banking app on your phone or via online banking for ‘’PIN payments outside Europe'. Are you not doing this? Then your debit card will not work outside Europe. This feature is disabled by default in most banks.
- Check if your bank has a limit set has for foreign cash withdrawals.
- Pin as much as possible! This will at least save you that few euros in fixed costs per withdrawal.
- Always opt for Withdrawal without conversion. While withdrawing, you will be given 2 options: “ Withdrawal with conversion’ or ‘Withdrawal without conversion’. Always opt for the latter and avoid unnecessary charges.
- It is best to pinning at a Malaysiane bank (bank building). There are often security cameras here and should anything go wrong, you can always step in and ask for help during office hours.
- Download a currency app (for iPhone and for Android) to compare the exchange rates of banks in Malaysia.
- Keep your card and cash separate. Make sure you disperse your cash but also don't put your card with your cash.
- Make sure you have good travel insurance. We have been with the Royal Dutch Touring Club and know that we get help in unpleasant situations. Still handy, especially when it comes to money matters.
- For extra security, you can get a wallet choose with RFID protection. This protection prevents your debit or credit card from being read and your personal data from being misused. You will find them, for example, on Bol.com.
Conclusion: pinning in Malaysia is easy, provided you are prepared
Withdrawing or paying money in Malaysia is easy, especially if you activate the right settings in advance and know what fees to expect. By making smart choices, you can avoid surprises and save on transaction fees. And most importantly: you can enjoy your trip carefree!
Do you still have questions about pinning in Malaysia or want to know how to plan your trip smartly? Then check out our other blogs or send us a message at [email protected] or Instagram!
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