Where to exchange money in George Town

If you're planning a trip to George Town, it's important to know how to get the currency of the country you’re visiting. Also, you might want to know the current exchange rate and the best places to withdraw cash.

So, on this page, we’ll show you the best places to exchange currency in George Town, and we’ll show you an alternative, Wise – which may be cheaper and help you save the effort of going to a physical location – but more on this later.

Currency exchanges in George Town

Consider using digital alternatives like Wise when looking at currency exchanges. If you still need to have some physical cash, here are a list of currency exchanges you can find in George Town.

A reminder from us - There's no such thing as 0% commission or fee-free so remember to do your research and make an informed decision.

Money ChangerAddressContact Information
Suria Muhabat Sdn Bhd Gurney Plaza - Money Changing & RemittanceB1-40, Gurney Plaza, 170, Gurney Dr, Georgetown, 10250 George Town, Penang, Malaysia+60 4-218 9257
Hasani Munawarah Exchange Sdn Bhd (HME) Prangin Mall Money ChangerLot 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 BHD59, 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 Bhd417-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 Bhd57, 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 Bhd71A, Jln Masjid Kapitan Keling, George Town, 10200 George Town, Pulau Pinang, Malaysia+60 4-261 8830
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  • 4.56 USDOur fee
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    7.05 USDTotal fees
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Malaysian ringgit rate today

First off, in case you’re wondering something along the lines of “does Malaysia use Malaysian ringgit?”, the answer is yes. The currency in George Town — and the rest of Malaysia — is Malaysian ringgit.

You can also find it written as MYR in currency exchange shops.

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 ringgit 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.

Money exchange at the tip of your fingers

Out with carrying only cash when you're abroad. The world has gone digital and so can you.

With a Wise account you can exchange currency at any time, almost everywhere in the world.
Access over 70 currencies in just a few clicks and pay wherever you are with the Wise card.

Say goodbye to the analog way. Say hello to Wise

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Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Other currency exchanges

Bottom line

As you can see, there’s no shortage of options when it comes to exchanging money in George Town. Don't forget to do your research on the exchange rate before converting your money, and check Wise out if you want a fuss-free alternative to exchanging cash.
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