Where to exchange money in George Town
If you’re planning a trip to George Town, it will definitely be useful to know how to obtain the local currency. Additionally, you may want to be aware of the current exchange rate and the most convenient places to exchange your money.
On this page, we’ll provide you with a list of the best places to exchange currency in George Town. We’ll also introduce you to an alternative, Wise, which may be more cost-effective and save you the hassle of visiting a physical location.
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Currency exchanges in George Town
If you’re still into the idea of carrying cash around and exchanging it, here are some popular foreign currency exchange locations in George Town.
One reminder, though: there’s no such thing as fee-free or 0% commission foreign exchange transactions. So, always check the mid-market exchange rate in advance, so you know how much your money’s worth.
| Money Changer | Address | Contact Information |
|---|---|---|
| Suria Muhabat Sdn Bhd Gurney Plaza - Money Changing & Remittance | B1-40, Gurney Plaza, 170, Gurney Dr, Georgetown, 10250 George Town, Penang, Malaysia | +60 4-218 9257 |
| Hasani Munawarah Exchange Sdn Bhd (HME) Prangin Mall Money Changer | Lot G-11, Prangin Mall, 33, Jalan Dr Lim Chwee Leong, 10100 George Town, Penang, Malaysia | +60 14-347 2311 |
| M.S.K.M MOHAMED HANIFFA FOREX SDN BHD | 59, Jln Masjid Kapitan Keling, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-261 0786 |
| Kanson Forex Sdn Bhd (600379V) | 75, Jln Masjid Kapitan Keling, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-225 0275 |
| N.J. Forex Sdn Bhd | 417-E, Lbh Chulia, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-262 2314 |
| Kassim M.Mohamed Forex Co., Ltd. | 73, Jln Masjid Kapitan Keling, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-261 0609 |
| Teraju Positif Sdn Bhd | 57, Jln Masjid Kapitan Keling, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-263 7229 |
| Rahimas Forex Sdn. Bhd. | 389-C, Jalan Burma, Pulau Tikus, 10350 George Town, Pulau Pinang, Malaysia | +60 16-228 8556 |
| World Coins Forex Sdn. Bhd. | 65, Jln Masjid Kapitan Keling, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-261 6176 |
| Rashidiya Trading Sdn Bhd | 71A, Jln Masjid Kapitan Keling, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-261 8830 |
| MaxMoney Komtar | No 2, Dewaniaga Paras 2, Menara Komtar, Jalan Penang, 10000 George Town, Pulau Pinang, Malaysia | +60 4-262 5100 |
| Mayfair Forex Sdn Bhd | 77-G 68, Penang Times Square, Jalan Dato Keramat, 10150 George Town, Pulau Pinang, Malaysia | +60 4-371 1095 |
| S. M. N Shaik Mohamed Sdn Bhd | 82, Lebuh Pantai, George Town, 10300 George Town, Pulau Pinang, Malaysia | +60 4-261 5506 |
| International Mega Forex | 51, Jln Masjid Kapitan Keling, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-262 0792 |
| Legenda Berkat Sdn. Bhd. | AG/K01, Tingkat Bawah Bangunan Prangin Mall, Jalan Teck Soon PRANGIN MALL, 10100 George Town, Penang, Malaysia | +60 4-261 6786 |
| KMA Trading Sdn Bhd | 37, Lebuh Pantai, George Town, 10300 George Town, Pulau Pinang, Malaysia | +60 4-262 8828 |
| Merchantrade George Town - Money Changer | 30, Jalan Gurdwara, 10460 George Town, Pulau Pinang, Malaysia | +60 4-264 5976 |
| Cairns Multitrade Sdn.Bhd | 33, Jalan Dr Lim Chwee Leong, George Town, 10100 George Town, Pulau Pinang, Malaysia | +60 4-263 5488 |
| Syarikat Abdul Muthalif Sdn. Bhd. | 25-A, Lebuh Pantai, George Town, 10300 George Town, Pulau Pinang, Malaysia | +60 4-261 7508 |
| Aboothair Money Changer | Gurney Plaza, B1-36G, Persiaran Gurney, 10250, George Town, Pulau Pinang, 10250 George Town, Penang, Malaysia | +60 4-227 8787 |
Malaysian ringgit rate today
The accepted currency in George Town and across Malaysia is the Malaysian ringgit.
However, when you visit a currency exchange, you'll find that they use currency codes. Specifically, the currency code for the Malaysian ringgit is MYR. Keep an eye out for this code if you're comparing exchange rates.
What you should know about exchanging money in George Town
When exchanging money in George Town or any foreign city, it's important to be aware how to get the best deals and avoid excessive charges and hidden fees. If you are planning on staying in Malaysia long-term or looking to make a larger investment you could consider opening a local bank account. Otherwise, use the tips below to help avoid getting overcharged.
1. Pick local currency on ATMs and card payments
When using an ATM abroad, choose to be charged in Malaysian ringgits for a fairer rate and fees. The same applies if you get the option on card machines.
2. Know the exchange rate
Check what the current exchange rate is so it's easier to spot a bad deal from currency exchanges.
3. Avoid exchanging money at airports or hotels
It may be highly convenient, but airports and hotels will almost always offer poor rates and high transaction fees. Avoid this where possible.
4. Use ATMs strategically
Check if your local bank has partnerships in Malaysia banks to avoid unwanted ATM fees. Also try to plan ahead and make as few withdrawals as possible to avoid multiple extra fees.
5. Be wary of 'zero fee' services
Some services claiming 'no commission' often offer poor exchange rates. These may not reflect the mid-market rate, similar to what you'd see when checking the rate on Google. This can lead to higher costs for you and more profits for them.
Currency exchange bureau who?
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Other currency exchanges
Bottom line
From the list above you should have plenty of options for finding a physical currency exchange in George Town. If you'd like more options, try searching on a search engine like Google.
Finally, don't forget to check out Wise - The digital alternative to exchanging and spending cash abroad.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.