Sachin Walls
If you're planning a trip to Kuala Lumpur, Malaysia, you may be wondering whether you can use US dollars at the airport. While Kuala Lumpur International Airport (KUL) does have currency exchange services available, it's generally not recommended due to unfavourable exchange rates and high fees. Instead, consider exchanging your money before your trip or using a multi-currency card or account to get a better exchange rate and lower fees. Additionally, cashless payment methods such as QR codes and debit/credit cards are widely accepted in Malaysia, so carrying cash may not be necessary.
| Characteristics | Values |
|---|---|
| Use of US Dollars at Kuala Lumpur Airport | Possible, but unfavourable exchange rates |
| Exchange Services at the Airport | Available at KLIA and KLIA2 |
| Recommended Alternative | Use a multi-currency card or account for better rates |
| Payment Methods in Malaysia | Cash, QR payments, Visa/Mastercard, ATM withdrawals |
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What You'll Learn
Kuala Lumpur Airport has 9 currency exchange locations
Kuala Lumpur International Airport (KUL) has nine currency exchange locations. However, airport currency exchange services often come with high fees and unfavourable rates.
You may want to consider other options for exchanging your money. For instance, you could open a multi-currency account or get a travel card, which can offer better exchange rates and lower fees. TransferWise (now Wise) and Revolut are two companies that offer this service.
If you need cash at the airport, you could withdraw Malaysian Ringgits (MYR) from an ATM. Alternatively, you may be able to use a credit or debit card for purchases, as this is now the second most popular payment method in Malaysia.
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Exchange rates at the airport are often unfavourable
Currency exchange rates at the airport are often unfavourable. Airports know that they are one of the last stops for travellers needing local currency, so they charge more for the convenience. They bank on the fact that you need that currency right then and there. While it is convenient to grab your cash as you dash to your gate, it is not the most economical option.
Airport currency exchange rates are among the worst you'll find. It's not uncommon to see airport exchanges charging 14% more than the current International Monetary Fund (IMF) exchange rate, with some premiums exceeding 17%. They also charge additional fees on top of the poor exchange rate.
If you can, it is best to plan ahead and explore other options before you head to the airport. Local banks often offer competitive exchange rates and lower fees than those at the airport. Many banks allow you to order foreign currencies, which you can typically pick up at a local branch before your trip. Some banks offer to ship currencies to you, and sometimes they don't even charge extra for postage if you order a certain amount. Plus, the exchange rates are usually quite good.
If you're travelling to Kuala Lumpur, you can use USD, but you may receive change in MYR. You could also take out money at an ATM. Depending on your bank fees, you might be better off using a Visa or Mastercard. You can also consider getting a multi-currency card, which often provides conversions at the mid-market exchange rate without any markups or hidden fees.
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Use a multi-currency card for better exchange rates
While Kuala Lumpur International Airport (KUL) does have currency exchange locations, the exchange rates and fees on offer are not always the best available. A multi-currency card can help you get a better exchange rate, and offers flexible spending and withdrawal with low overall costs.
For example, the Wise card provides conversions at the mid-market exchange rate without any markups or hidden fees, ensuring you get the best possible value for your money. The card can be used to pay online and in stores in over 40 currencies and 150+ countries. Wise also provides a digital card for an extra layer of security.
Another option is Currencies Direct UK's multi-currency debit card, which is available for residents in the UK, Spain, France, and Portugal. The card is free and has no monthly fees. It can be used to buy and spend the most popular currencies (including GBP, EUR, USD, AUD, SEK, NOK, DKK, CAD, AED, and PLN) wherever Mastercard® is accepted. It can also be used to withdraw money overseas at great exchange rates.
If you are travelling to Kuala Lumpur, it is recommended that you exchange your leftover Malaysian Ringgit to USD, EUR, or any other currency while in the city, as selling rates for foreign currencies at KLIA2 are just as bad as buying rates. You can get better exchange rates in Kuala Lumpur City Center, especially at money changers on the streets around Chinatown and Central Market.
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Withdrawing cash from an ATM is another option
If you have a Visa or Mastercard debit/credit card, you may want to consider using that instead of exchanging currency at the airport, as the exchange rate you'll get at the airport may be unfavourable. ATM withdrawals in Malaysia with a Wise Card can also get you a better MYR exchange rate than exchanging currency at the airport.
If you are not comfortable with carrying a large amount of cash to exchange in Malaysia but still want to get a better exchange rate on your payments and withdrawals than your regular bank card is offering, consider getting a multi-currency card. You can also use a money belt, which is a safer alternative to a wallet, as it can be worn under clothing and is less susceptible to pickpocketing.
Additionally, if you are departing from Kuala Lumpur Airport, it is recommended to exchange your leftover Malaysian Ringgit into USD or another currency while in the city, as the selling rates for foreign currencies at the airport are unfavourable. You can easily find currency exchange services in Kuala Lumpur City Centre or around Chinatown and Central Market, where you can get better exchange rates.
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Kuala Lumpur city centre offers better exchange rates
While Kuala Lumpur International Airport (KUL) has currency exchange counters, it is not recommended due to the unfavourable exchange rates. You can use US dollars at the airport, but you may receive change in the local currency, Malaysian Ringgit (MYR).
It is suggested that you exchange your money in Kuala Lumpur city centre instead, where you can get a much better exchange rate. Money changers on the streets around Chinatown and Central Market offer even better foreign exchange rates.
If you need cash right at the airport, it is recommended that you withdraw Malaysian Ringgits from one of the ATMs found there, rather than exchanging currency. Today, cash is no longer the primary method of payment in Malaysia, including at the airport. Visa/Mastercard Debit/Credit cards and QR payments are more popular.
If you plan to use a card, consider getting a multi-currency card such as Wise, which provides conversions at the mid-market exchange rate without any markups or hidden fees. Alternatively, you can open a multi-currency account or get a travel card to help you get a better exchange rate and offer flexible spending and withdrawal with low overall costs.
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Frequently asked questions
Yes, some outlets at Kuala Lumpur Airport may accept US dollars, but you may receive change in the local currency, Malaysian Ringgit (MYR).
The official USD exchange rate at the time of writing is 4.08 MYR for 1 US dollar, but the rate offered at the airport is 3.70 MYR/USD, which is 0.38 MYR lower than the official rate.
Yes, Kuala Lumpur International Airport (KUL) has 9 currency exchange locations. However, airport exchange services often have unfavourable rates and high fees.
Yes, you can withdraw Malaysian Ringgit from the ATMs at the airport.
Yes, you can get better exchange rates in Kuala Lumpur city centre, especially in Chinatown and the Central Market.
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