Personal Finance Tips

All about Mid Valley money changers

Yumiko Kijima
Yumiko Kijima
07.05.21 (updated more than 1 year ago)
Read time 3 minutes

This guide walks through some popular money changers in Mid Valley Megamall in Kuala Lumpur. You can convert currencies and/or send remittances overseas with them.

We’ll also introduce Wise, which uses the mid-market exchange rate and low, transparent fees for sending money abroad.

Table of contents

Sending money abroad? Wise is up to 4x cheaper than Malaysian banks

If you’re sending an international payment, you may want to know about Wise.

The true cost of sending MYR to USD

Wise international can be set up easily online or using the Wise app. That means you won’t even have to leave home to make your cross border transfer.

Send money to 70+ countries with the real mid-market exchange rate and low, transparent transfer fees.

Check if you can save with Wise👀

Understand the mid-market exchange rate

As each provider can set their own exchange rates, you’ll need to research the rates beforehand. Bear in mind that some providers offer different rates based on the amount you want to exchange, or the branch you visit.

Check out a range of providers, and compare them to the mid-market exchange rate which you can find with a Google search, or using a currency converter.

The mid-market rate is the one which the bank or provider uses when buying and selling currencies on the global markets. However, this is not usually the rate that’s passed on to customers. Instead, it’s common to see a markup or margin - an extra fee - added to the customer rate. You may want to look for a provider with an exchange rate close to the mid-market exchange rate - and low, transparent fees - to get the best deal.

Exchange rates change all the time, so you’ll need to check out the offers available when you want to exchange currency.

How to check Mid Valley money changers’ exchange rates

You can check their exchange rates online or by calling their branches. Here are the contact details for a few of the most popular money changing options.

Provider nameExchange rates onlineOpening hoursPhone
MaxMoney Mid Valley¹⁻²Max Money: Exchange rates10am - 10pm daily03-2282 9500/8500
My Money Master Sdn. Bhd.³My Money Master: Exchange rates10am - 10pm1800-22-3030
Jadeline Exchange Sdn. Bhd.⁴Jadeline Exchange: Exchange ratesNot available - call store to check prior to visiting03-2202-1002
KL Remit Exchange Midvalley Mega Mall⁵KL Remit: Exchange rates (these rates are only applicable for a Bukit Bintang branch)10 a.m - 10 p.m03-2287-2005
Maybank Mid Valley Branch⁶Maybank Malaysia: Foreign Exchange Counter Rates9.15am - 4pm - hours may be affected by Covid 19, check with branch prior to visiting03-2282-8969/0098

Meet Wise: a cheap, fast way to send money abroad

If you need to send a payment to someone overseas, you can also find a selection of providers in Mid Valley Megamall to help you. For instance, Max Money and KL Reit offer overseas remittance service, too, at their branches.⁷⁻⁸

But if you’re sending a payment directly from your bank account to another account held abroad, you may not even need to leave your home so get started.

With Wise, you can send money online from the website or with the Wise app.

Wise use the mid-market exchange rate with cheap, transparent transfer fees, and is up to 4x cheaper than banks in Malaysia.

Money changers in Mid Valley can pay out in cash as well as to recipients’ bank accounts, but if you prefer making an international transfer completely online, then Wise could be your choice.

To send money with Wise,

  1. Register for free
  2. Choose an amount to send
  3. Add recipient’s bank details
  4. Verify your identity
  5. Pay for your transfer by bank transfer or debit/credit card

And that is it! You can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

Join over 10 million customers and experience a cheaper, faster way to send money abroad.

Sign up for free🚀

Summary

If you’re in or around Mid Valley Megamall you have a choice of money exchange and international remittance services. Many of the specialist stores have long opening hours for customer convenience, and offer a range of services including international payments which can be disbursed in cash, and travel money exchange. However, it’s well worth shopping around to find the best available exchange rate and fee for your specific transaction, as the rates available may vary.

If you’re looking to send a remittance from your MYR bank account to a bank account in a foreign country, you may not even need to head out to the mall. With Wise, you can send money abroad online, with the real mid-market exchange rate and small, transparent transfer fees.

Join Wise💡

Wise for sending money

Sources

  1. Mid Valley Megamall - Max Money
  2. MaxMoney - Get In Touch With Us
  3. My Money Master - Contact Us
  4. Jadeline Exchange
  5. KL Remit Exchange
  6. Maybank - Covid-19
  7. MaxMoney
  8. KL Remit Exchange - Services

*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.

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