How to use the Tmoney card in Korea: Guide for Malaysians
Check out our guide on the Tmoney card Korea including how to use, where to buy and more.
Airbnb1 burst onto the scene back in 2008, disrupting the short term rentals market and giving hotels a run for their money as the natural place to stay when on a vacation. Airbnb allowed travellers to book with hosts around the world, to stay in family homes, guest houses, and unique and unusual properties, all with more of a personal touch than a chain hotel.
If you’re planning a trip using Airbnb you may be wondering how to change the currency in Airbnb so you can see the costs in MYR vs the currency wherever you’re heading. This guide looks at how to change currency in Airbnb online and in-app, plus a quick look at Wise - a low cost option for sending and spending in foreign currencies, which can help you get more from your trip.
Before we look at how to change the Airbnb currency - a quick intro. Airbnb offers an incredible range of accommodation options in many countries and regions around the world. While there are some cities and countries where Airbnb isn’t an option, it’s reputed to offer accommodation in over 190 countries globally, so there’s a very good chance you can use Airbnb wherever you’re planning your next overseas trip.
Airbnb has a few benefits compared to using a hotel. Properties are often unique, and may also be cheaper than using a hotel. That can mean you get a totally different experience, for a lower cost, compared to picking a familiar hotel brand which will be more or less the same no matter where in the world you’re heading to. The other big benefit with Airbnb is that the options available are often better suited to large group sizes than a hotel would be. You might be able to rent out an entire home for example, giving flexibility for families and groups of friends to stay together with shared spaces, and more facilities than you’d get in a standard hotel.
When you start to search for a property with Airbnb you’ll be shown the cost for your stay. Depending on your Airbnb account settings this may be in ringgit or in the home currency of the place you’re planning to visit. In this guide we’ll look at the Airbnb change currency process so you can set up your account how you’d like it.
When you book an Airbnb you’ll need to choose your payment method, which may vary depending on the country you’re in and the country you’re going to. Usually you can choose the following payment methods in all countries2:
- Visa, Mastercard, Amex, JCB debit or credit cards
- Apple Pay
- Google Pay
- PayPal
If you’re booking from Malaysia you will also usually be able to pay using FPX.
You can pay on Airbnb in 40+ currencies, including MYR, USD, GBP, EUR, AUD and SGD3. Most major currencies are included but it’s helpful to note that not every single currency is covered. You can view the available currencies by logging into your Airbnb account and tapping the countries and currencies tab (the globe icon) in the top right.
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You can change currency on Airbnb by setting your default currency to the currency you want, or you can change currency for a specific payment by changing the currency for an upcoming transaction, or at the point of making a booking.
It’s useful to compare the amount you’ll pay for an Airbnb booking in different currencies, as paying in some currencies might mean additional fees. These can include fees charged by your own bank or card issuer - a foreign transaction fee for example - and charges from Airbnb.
You’ll need to talk to your own bank to understand if they’ll charge you when you transact in a foreign currency - but it’s pretty common practice and can push up your costs in the end. With Airbnb, their cross currency costs can vary depending on the currency you pay in, and the currency your host wants to receive - but in the end this could add up to an additional 2.3% to your guest service charge, which you’ll only see at the point of booking4.
Before you book you’ll be able to toggle currencies to see which is cheaper, and if you have a low cost international debit card which doesn’t use a foreign transaction fee - like the Wise card - you may then be able to get a better deal by paying in the host’s preferred currency to avoid extra Airbnb fees.
Changing currency in Airbnb is pretty simple, and as we’ve seen, it can be handy to change the quote generated for your stay into both MYR and the host’s home currency to see which is cheaper. Toggle to the host’s currency to get a quote, then convert it back to MYR using the mid-market rate which you can find on Google, to see which currency ends up cheaper. If the exchange rate used by Airbnb includes an extra fee, this can mount up pretty quickly if you're away from home for a longer period, so finding ways to cut out this unnecessary fee can mean your money goes further in the end.
Let’s look at changing the currency in Airbnb online and in app5:
To change your default currency using your laptop, simply log into your Airbnb account and take the following steps:
You can also change the currency for a specific booking with an upcoming payment on your laptop. Just log in and take these steps:
You can only change the currency for a booked trip if you’ve not paid yet - if you’ve already completed the transaction you can’t reverse it and choose a different currency afterwards.
Changing currency in Airbnb on iPhone and changing currency in Airbnb on Android are both easy to do and follow the same basic steps. Again you can either change the default currency or change the currency for a trip you’ve booked but not paid for yet. To change your default currency in the Airbnb app:
Or, to change the currency you want to pay in for your upcoming trip:
If you’re paying for an upcoming Airbnb trip, you may find you can cut out some of the costs of currency conversion with Wise. Wise offers low cost international payments you can make right from your bank, or with a Wise card. You can send money in currencies, allowing you to pay in the Airbnb host’s preferred currency in many cases - which might end up cheaper than paying in MYR.
Plus, with your Wise card you can spend during your trip with ease, using the mid-market exchange rate and low conversion costs from just 0.33%6. Open a Wise account online or in app in just a few minutes, and order your Wise card for a low one time fee.
You can then add money in MYR and tap to pay on your travels with instant conversion using the rate you see on Google. Plus, Wise cards offer up to some free ATM withdrawals every month, to the value of 1,000 MYR, with low and transparent ATM fees after that. See if Wise can help cut the costs of spending in foreign currencies even before you embark on your next trip.
💳 Start saving with the Wise card
*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.
Check out our guide on the Tmoney card Korea including how to use, where to buy and more.
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