Where to exchange money in Malacca
If you’re planning a trip to Malacca, 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 Malacca. 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 Malacca
If you’re still into the idea of carrying cash around and exchanging it, here are some popular foreign currency exchange locations in Malacca.
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 |
|---|---|---|
| Sadaya Niaga Sdn. Bhd. Money Changer Money Transfer | 110, Jalan Munshi Abdullah, Kampung Jawa, 75100 Melaka, Malaysia | +60 12-626 9494 |
| Spak Sdn. Bhd. | 29, Jalan Laksamana, Banda Hilir, 75000 Melaka, Malaysia | +60 6-282 6742 |
| Merchantrade Plaza Hang Tuah - Money Changer | G31B Plaza Hang Tuah, Jalan Tun Mamat, Kampung Bunga Paya Pantai, 75300 Malacca, Malaysia | +60 6-283 8606 |
| Merchantrade Melaka Sentral - Money Changer | 27, Jalan Pms 1, Plaza Melaka Sentral, 75450 Melaka, Malaysia | +60 6-284 3625 |
| syedgin | NO 1-2,WISMA AIR, Jalan Hang Tuah, PUSAT BANDAR MELAKA, 75300 Melaka, Malaysia | +60 18-923 9031 |
| United Global FX Sdn Bhd | 94, Jalan Bendahara, Kampung Bukit China, 75100 Melaka, Malaysia | +60 6-281 5326 |
| Sin Lin Master Holdings Sdn. Bhd. | L1-S053, KIP MART MELAKA, Jalan Tun Fatimah, Taman Perindustrian Batu Berendam, 75250 Bachang, Malacca, Malaysia | +60 6-334 7000 |
| Merchantrade Tg Minyak - Money Changer | 1, Jalan RJ 29, Taman Rambai Jaya, 75250 Melaka, Malaysia | +60 6-351 8606 |
| Merchantrade Ayer Keroh - Money Changer | 23, Lorong Setia 1, Taman Ayer Keroh Heights, 75450 Melaka, Malaysia | +60 6-232 8606 |
| Foreigncy Sdn. Bhd. | g3 block, Dahlia, 1, Jalan Zahir 6, Taman Malim Jaya, 75250 Malacca, Malaysia | +60 6-856 6688 |
| Wang S. Enterprise Sdn. Bhd. | No. 3, Mahkota Melaka, Jln Merdeka, Melaka Raya, 75000 Malacca, Malaysia | +60 6-282 9981 |
| ALAF JUTAWAN money changer | 2, Jalan Lagenda, taman 1, 75400 Melaka, Malaysia | - |
| Bluepoint Solution S/B ( Merchantrade @ Money Transfer Agent ) | 28, Jalan Cb 1, Taman Cheng Bestari, 75250 Melaka, Malaysia | +60 12-618 8961 |
| Ong Kian Eng | 89, Jalan Munshi Abdullah, Kampung Bukit China, 75100 Melaka, Malaysia | +60 6-284 4708 |
| TML Remittance Center (Melaka Sentral) | Lot 64A & 64BZon D, Melaka Sentral, Jalan Tun Abdul Razak, Plaza Melaka Sentral, 75300 Melaka, Malaysia | +60 6-281 2661 |
| CBL Money Transfer Sdn. Bhd. | No. 45, Ground Floor, Jalan PMS 1, Taman Plaza Melaka Sentral, Melaka, Plaza Melaka Sentral, 75400 Malacca, Malaysia | +60 6-282 4360 |
Malaysian ringgit rate today
The currency used in Malacca, as well as the rest of Malaysia is Malaysian ringgit.
However, when visiting a currency exchange shop you will notice they use currency codes. The code for Malaysian ringgit is MYR. Keep an eye out for this if you want to compare exchange rates.
What you should know about exchanging money in Malacca
When exchanging money in Malacca 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.
Say goodbye to overcomplicated currency exchange
Wise can help you get a better deal on currency conversion in over 40 currencies, with the mid-market exchange rate and low fees.
Open a personal Wise account online or in the Wise app, and order a linked debit card for a one-time fee to spend and withdraw money in 150+ countries.
There’s no fee to spend any currency you hold, and no foreign transaction fee to worry about. Use your account when you travel or shop online in foreign currencies, send payments in 70+ currencies, and get your own local bank details in 9 currencies.
Other currency exchanges
Bottom line
As you can see, there’s no shortage of options when it comes to exchanging money in Malacca. 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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