Ruth Haines
If you're travelling through Kuala Lumpur Airport and wondering whether you can use Australian dollars, it's important to know that cash is still widely used in Malaysia, and you will need the local currency, Malaysian Ringgit (MYR), for purchases. While Kuala Lumpur Airport does have currency exchange booths, the rates are not favourable, and it is recommended to exchange your money at banks or exchange windows in the city instead. If you need cash right away, it is suggested to withdraw Malaysian Ringgit from an ATM at the airport or use a credit card, which is a popular payment method in Malaysia.
| Characteristics | Values |
|---|---|
| Currency used at Kuala Lumpur Airport | Malaysian Ringgit (MYR) |
| Exchange AUD at the airport | Yes, but the rate is about 9.2% lower than the official rate |
| Better exchange rates | In the city centre of Kuala Lumpur |
| Payment methods | Cash, Visa, Mastercard, QR payments, POS cash terminals |
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What You'll Learn
Kuala Lumpur Airport money exchange
Kuala Lumpur International Airport (KUL) is the largest airport in Malaysia, with two main terminals, KLIA1 and KLIA2. Cash is still widely used in Malaysia, and you will need local currency (Malaysian Ringgit, MYR) when shopping at places like Kuala Lumpur's Central Market.
If you need cash at the airport, you can withdraw Malaysian Ringgits from an ATM or exchange your home currency at currency exchange counters. There are several money changers at Kuala Lumpur Airport, with competitive rates to convert your foreign currency to MYR. However, the exchange rates at the airport are not as good as those in the city centre. For example, during one visitor's trip, the official AUD exchange rate was 2.92 MYR for 1 Australian Dollar, while the best rate offered at the airport was 2.65 MYR/AUD, about 9.2% lower than the official rate.
If you are exchanging EUR or GBP, it is recommended to skip CIMB Bank, which has branches at the airport, as their rates are reportedly unfavourable. Instead, consider using an ATM for a better MYR exchange rate, or look for the AmBank Currency Exchange, which offers better rates for EUR and GBP.
While it is possible to use credit cards like Visa and Mastercard at many places in Kuala Lumpur Airport, it is advised to have some local currency for purchases.
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AUD exchange rate
It is not advisable to use Australian dollars directly in Kuala Lumpur Airport. Cash is still widely used in Malaysia, but the local currency is the Malaysian Ringgit (MYR). It is recommended to exchange your AUD for MYR before your trip, as airport exchange services are known for high fees and poor exchange rates.
Kuala Lumpur International Airport (KUL) has nine currency exchange locations, but it is advised to avoid exchanging currency at the airport due to high costs. The exchange rate offered at the airport is about 9.2% lower than the official rate.
If you need cash immediately upon arrival at the airport, it is suggested to withdraw Malaysian Ringgit from an ATM or use a multi-currency card, such as Wise, which offers conversions at the mid-market exchange rate without markups or hidden fees. You can also consider ordering foreign currency online for airport collection, which may provide a better exchange rate than on-the-spot exchanges.
Credit cards are also widely accepted in Malaysia, so you may find it more convenient to simply use your card for purchases instead of exchanging cash.
If you have a long layover and wish to venture outside the airport, you can find better exchange rates in Kuala Lumpur's city centre. Money changers at KL SENTRAL and the NU SENTRAL MALL, which is directly connected to KL SENTRAL, are known to offer good rates.
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Using credit cards at Kuala Lumpur Airport
Kuala Lumpur International Airport (KUL) is the largest airport in Malaysia and has two main terminals, KLIA1 and KLIA2. While Australian dollars may not be accepted at the airport, you can use major credit cards such as Visa, Mastercard, and American Express. In fact, the use of credit and debit cards is now the second most popular payment method in Malaysia, after QR payments.
ATMs are readily available at the airport, and you can withdraw Malaysian Ringgits (MYR) from them. However, it is worth noting that the exchange rates offered by these ATMs may not be favourable. For example, during one traveller's visit, the exchange rate for euros was about 7.2% lower than what it was in the centre of Kuala Lumpur.
If you need to exchange currency, KLIA2 has several currency exchange booths at arrivals on Level 2, including branches of CIMB Bank. However, travellers advise against exchanging money at the airport, as the rates are reportedly unattractive. AmBank, located in the transportation hub at Level 1, is said to offer better rates for certain currencies like the euro and British pound.
In any case, it is recommended to have some local currency on hand when arriving in Kuala Lumpur, especially if you plan to shop at places like Petaling Street or the Central Market.
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ATM withdrawals at Kuala Lumpur Airport
Kuala Lumpur International Airport (KUL) is the largest airport in Malaysia with two main terminals, KLIA1 and KLIA2. If you need cash right at the airport, you can either withdraw Malaysian Ringgits (MYR) from one of the ATMs found at the airport or exchange your home currency at currency exchange counters.
ATMs at Kuala Lumpur Airport issue Ringgit, and the exchange rate is handled by your home bank. So, for a RM1250 withdrawal at the airport or downtown at the same time, the same amount will be debited from your account back home. However, there could be a different amount in your home currency equivalent when it is debited from your account, as your own bank will not charge you, but the ATM's bank could do.
If you have a card that does not charge for foreign transactions, you may be better off withdrawing from the ATM at the airport, as the exchange rate will be the same as at any other ATM in Kuala Lumpur. However, if your card charges for foreign transactions, you may want to consider using an ATM in the city, as the airport ATM may charge a higher fee.
It is worth noting that while cash is still widely used in Malaysia, Visa/MasterCard debit/credit cards and QR payments are also commonly accepted. Therefore, if you do not want to withdraw cash, you can also use your card or QR payment method to pay directly at stores and restaurants.
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Cash vs card in Malaysia
Cash is still the primary method of payment in Malaysia, with over 30% of POS payments made in cash. However, the popularity of digital wallets and cards is rising, and it is predicted that these methods will dominate in the future. Cards are widely accepted in Malaysia, and it is possible to use a card almost everywhere. However, cash is often the only option in smaller shops and restaurants, and for certain purchases, such as public transport tickets and street vendors.
If you are travelling to Malaysia, it is a good idea to carry some cash, but it is not necessary to carry large amounts. ATMs are readily available in Malaysia, with over 13,000 across the country, and they can be found in big cities and smaller towns. It is generally cheaper to withdraw money from an ATM than to exchange cash, and you will get a better rate if you choose to withdraw in the local currency, MYR.
If you are travelling from the UK, your UK-issued credit or debit card will likely work in Malaysia, and you can also get a Malaysian Ringgit card, such as Revolut, which will allow you to spend in Malaysian Ringgits and over 150 other currencies.
In Kuala Lumpur Airport, there are currency exchange booths, but the exchange rates are generally unfavourable, and it is better to use an ATM or a card. Australian Dollars are not accepted in the airport, but there are reports of USD, EUR, GBP, and Yen being accepted, although the exchange rate will be poor.
In summary, while cash is still the primary method of payment in Malaysia, cards are widely accepted, and it is not necessary to carry large amounts of cash. ATMs are readily available, and card payments are becoming more popular.
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Frequently asked questions
It is not recommended to use Australian dollars in Kuala Lumpur Airport as the exchange rate is unfavourable. It is suggested to use a credit card or withdraw cash in the local currency, Malaysian Ringgit (MYR), from an ATM.
There are a few options to get Malaysian Ringgit at the airport. You can exchange your home currency at currency exchange booths, such as AmBank, which offers better rates than CIMB Bank. Alternatively, you can withdraw MYR directly from an ATM using your debit card, which may offer a better exchange rate than currency exchange booths.
The official exchange rate for Australian dollars to Malaysian Ringgit may vary. At the time of writing, the official rate is 1 AUD to 2.92 MYR, while the best rate offered at the airport is 1 AUD to 2.65 MYR, which is about 9.2% lower than the official rate.
