Getting Better Rates for Your Money
Money changers offer better rates and have longer opening hours than banks. You can find them in high tourist area such as malls or around popular areas like Bukit Bintang.
They are also opened on weekends.
ATM & Credit Cards
Credit and debit cards such as American Express, Diner’s Club, Mastercard and Visa or ones backed by Cirrus and Plus are generally accepted by most hotels, shops and restaurants in Kuala Lumpur.
You can also use them in ATMs in the city though you might be charged a transaction fee by your bank.
Before using them in Kuala Lumpur, let your debit and credit card know your exact travel plans. Being stuck in a foreign city with absolutely no access to your money is a nightmare.
A word of advice: Credit card fraud is widespread in Malaysia. Foreign banks block will probably block your card as soon as it is swiped in Kuala Lumpur. Make sure you know the answers to your security questions before travelling.
Tip 1: If for some reason your credit card gets locked, get into a KL restaurant or fast food joint (most will have Wi-Fi). Call your bank’s toll-free number for free through Skype.
Tip 2: Do not let your eyes off your debit or credit card. Make sure it is swiped in front of your eyes, and check your receipt before signing. Many frauds occur in night clubs where cards are not swiped in front of you.
Travellers Cheque & Cash
If you are overly concerned about security, traveler’s checks are a safe way to travel with money.
In Kuala Lumpur, banks and private money changers accept all major brands of travellers cheque. But while banks usually charge a commission (around RM[currency]10[/currency]) for each transaction, money changers offer the service free of charge.
When you go beyond KL, especially to rural areas, cash is king.
Taxes
In larger restaurants and hotels, a 5% government tax plus 10% service tax are normally added to your bills.