Where to exchange money in George Town Penang
If you’re planning a trip to George Town Penang, 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 Penang. 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.
Where to exchange money in George Town Penang
If you’re planning a trip to George Town Penang, 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 Penang. 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.
Spend abroad without hidden fees
Currency exchanges in George Town Penang
If you have a need to use cash, here are some recommendations to exchange foreign currency in George Town Penang.
Just remember, there's no such thing as completely free or 0% commission when exchanging money. Always check the mid-market exchange rate beforehand so you know the real value of your money.
| Money Changer | Address | Contact Information |
|---|---|---|
| Lotus Remit Komtar | A1-01, Komtar, Komtar, Jln Penang, George Town, 10000 George Town, Pulau Pinang, Malaysia | +60 4-226 6068 |
| 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 |
| HME Money Changer @ Prangin Mall | Lot G-11, Prangin Mall, 33, Jalan Dr Lim Chwee Leong, 10100 George Town, Penang, Malaysia | +60 11-1166 4786 |
| HME Money Changer @ Gurney Walk | Gurney Walk, 18, Persiaran Gurney, 10250 George Town, Pulau Pinang, Malaysia | +60 4-566 7786 |
| Merchantrade | 30, Jalan Gurdwara, 10460 George Town, Pulau Pinang, Malaysia | +60 4-264 5976 |
| A. Abdul Muthalif & Sons | No. 83, Lebuh Pasar, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-262 5229 |
| Teraju Positif Sdn Bhd | 57, Jln Masjid Kapitan Keling, George Town, 10200 George Town, Pulau Pinang, Malaysia | +60 4-263 7229 |
| NBL MONEY TRANSFER SDN BHD | 452, Jln Penang, George Town, 10000 PALAU PINANG, Pulau Pinang, Malaysia | +60 4-229 7411 |
Notice anything wrong with our results table? Let us know - If there is a genuine mistake, we will do our best to resolve it.
Malaysian ringgit rate today
When you're in George Town Penang, and also the rest of Malaysia, the official currency is the Malaysian ringgit.
Yet, when you step into a currency exchange shop, you'll notice they use currency codes. The code associated with the Malaysian ringgit is MYR, so be sure to take note of it when comparing exchange rates.
What you should know about exchanging money in George Town Penang
When exchanging money in George Town Penang 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. 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.
2. Research 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. It's becoming less of a requirement, but it can be good to inform your bank before traveling too.
5. 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.
Currency exchange bureau who?
Forget all about walking around the city in search for fair exchange rates for a low fee.
With a Wise Account you can access over 70 currencies wherever you are - and all with a single card.
And what's even better, at the mid-market exchange rate. Low fees and fair rates all around the world, that's the Wise way!
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Other currency exchanges
Bottom line
As you can see, there’s no shortage of options when it comes to exchanging money in George Town Penang. 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.
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.