Travelling Singapore & Malaysia from India, which currency to carry

Singapore Glory image
Local currencies are Malaysian Ringgit (MYR) and Singapore Dollar (SGD). But both countries  are good with USDollar, EURO, Pound,  Australian Dollar or Canadian Dollar can be easily converted into to their local currency. In India, if you don’t have SGD. In the local market, you need to have local currency only.

What is best to carry SGD, MYR, USD or any other currency??

  • There are no fees or charges to bring your home currency, and no fees or charges to exchange it into Ringgit in Malaysia and Dollar Singapore.
  • The rates offered in Malaysia and Singapore are always BETTER than you could get back home.
  • FOREX booths accept ALL MAJOR currencies.
  • DO remember to bring ONLY bank notes in good condition.
  • FOREX booths generally WILL NOT accept bank notes that are torn, ripped, damaged or are excessively marked/stamped.
  • It is the easiest to use, and in most cases the cheapest as well, but has obvious risks associated with loss.
  • You do not have to present ID to exchange foreign currency.

You can get some money changed up at India so you have enough for your incidentals when you arrive, or convert your other currency in your arriving airport.

There are lots of money changers in Malaysia and Singapore, especially in areas popular with tourist. The money changer is pretty straight forward – you give him your money, he will press a few buttons on his calculator and come out with the exchange rate. If you are happy with the rate you will convert your currency for Ringgits. They work exactly as a bank or Travel exchange.  Money changers will usually give a better rate than banks. Do check the money you are receiving is correct.

Debit or Credit cards / ATM / prepaid cash cards

  • Your Indian bank may levy a fee or fees.
  • Using ATMs is a safer option than cash and more convenient than T/Cs. (Travelling Cheque are no more available in Market.
  • This may be an excellent option if your Indian bank does not charge high fees.
  • ATMs are plentiful and located just about everywhere.
  • *Prepaid Forex Cards – Like ATMs, may also be subject to fees by issuer as well as the local bank ATM.

Remember, you DO NOT need any Ringgit before your arrival as it will subject you to a considerably poorer rate of exchange plus probable commission fees.

The easiest and most secure method of getting your currency in Malaysia is no different than almost anywhere in the world. ATM’s are located at the major bank branches, most shopping malls, airports, bus terminals, etc. As normal, a 4 digit PIN is required, so if your password has more digits, change it before you depart on your trip.

Credit cards are widely accepted.  But be careful of possible scamming and do not let the card out of your sight.  Use credit cards for hotel deposits or payments or purchases in department shops.  Use an ATM for topping up your cash.  ATM’s to get out cash as needed -usually use May-bank or Public Bank with no problems as long as you tell your bank before you go.  ATM/Credit Cards will usually give good exchange rates but some banks do make a charge, check which bank cards give the best deal.

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