Where to exchange money in Malacca

Are you heading to Malacca? You will want to ensure you are aware of the local currency and how to obtain it. In addition, you may want to keep track of the current exchange rates and where to change your money to the local currency without getting ripped off.

We will give you a list of the best currency exchanges in Malacca that you can visit in person.

There is also a digital alternative to consider by using Wise. This could save you both time and money.

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 ChangerAddressContact Information
Sadaya Niaga Sdn. Bhd. Money Changer Money Transfer110, 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 ChangerG31B Plaza Hang Tuah, Jalan Tun Mamat, Kampung Bunga Paya Pantai, 75300 Malacca, Malaysia+60 6-283 8606
Merchantrade Melaka Sentral - Money Changer27, Jalan Pms 1, Plaza Melaka Sentral, 75450 Melaka, Malaysia+60 6-284 3625
SyedginNO 1-2,WISMA AIR, Jalan Hang Tuah, PUSAT BANDAR MELAKA, 75300 Melaka, Malaysia+60 18-923 9031
United Global FX Sdn Bhd94, 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 Changer1, Jalan RJ 29, Taman Rambai Jaya, 75250 Melaka, Malaysia+60 6-351 8606
Merchantrade Ayer Keroh - Money Changer23, 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
  • 2.49 USD
  • 4.56 USDOur fee
  • –
    7.05 USDTotal fees
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    992.95 USDTotal amount we’ll convert
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Malaysian ringgit rate today

The accepted currency in Malacca 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 Malacca

You can follow a few simple tips which could help save money when exchanging currency in Malacca. By increasing your awareness you can be better prepared for currency exchanges wherever you are.

1. Beware of 'zero fee' services
Some services will claim 'no commission'. This can be misleading as they will often have hidden a markup by offering you a worse exchange rate.

2. Know the current exchange rate
Be familiar with the current exchange rate to help identify a bad deal from exchange services.

3. Avoid exchanging money at airports or hotels
The convenience of exchanging currency at airports and hotels often comes at a price. That price will come as poor exchange rates and high transaction fees. Try to use this as a last resort.

4. Avoid scams
Be cautious of street vendors or unofficial exchange services that may offer seemingly attractive rates. Stick to recognised establishments to avoid falling victim to scams or fraudulent practices. Your financial security should always be a top priority.

5. Opt for local currency
When using an ATM abroad, pick the option to be charged in Malaysian ringgit for a fairer rate to avoid undisclosed exchange rates. Picking the local currency will almost always be cheaper.

Consider an alternative to physical currency exchanges

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.

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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 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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