My Island Penang

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Penang Money Changers

Bureau de change is what knows is at like in England or Paris

Penang Money Changers

The Penang money changers are Licensed moneys changers. The Bureau de change can be found all over Georgetown, in shopping malls, public banks. Even along the coastal areas in Batu Ferringhi too which is quite far from central Georgetown.

The Money Changers are usually of Indian or Indian Muslim descent. Even in England or France, we seem to see them rather then the British white people. So they will be quite familiar to you.

The shops can look pretty unusual with bars and all. But it is understandable for security reasons, those money changer shops were built that way.

You get better rates if you change with our licensed Penang money changers. They are mostlyfound in Lebuh Pantai and Jalan Mesjid Keling.

Currency Exchange

The currency exchange for the Malaysian Ringgit is approx RM3.20 per USD plus-minus 10 to 20 cents. For other currencies, please checkwith the local money changers or banks. The former offers better rates and are open to negotiations.

For your convenience, we have a currency converter available.Penang Money Changers

Denomination of Malaysian ringgit

The Malaysian ringgit or dollar comes in notes of RM1, RM5, RM10, RM50, RM100, RM500 and RM1000. There are also coins of 10sens, 20sens and 50sens. (100 sens = 1 ringgit).

If you see a copper coin, that is the denomination of 1 cent. The colors of other coins are in silver.Presently 1 and 5 cents are no longer in circulation.

If the bank or the ATM runs out of money, you can change your money at some of the hotels. But the rates can be a little steep.

In Malaysia the maximum you can withdraw from the ATM is RM 2000.00 per day. In some big cities like Kuala Lumpur, it can be more. But if you need to withdraw more than the stated amount for the day, you can do it over the counter.

Please remember, the Malaysian ringgit is not convertible outside Malaysia so make sure to use all your Malaysian ringgit before leaving. So carry a maximum cash of RM100 per two to three days will see you through.

Use our public buses or free shuttle services if you are in the heart of Georgetown. For the more up-to-date on your currency rates.

Banks and ATM

The banking facilities in Penang are within walking distance to any hotels or places you stay. Our currency is called Ringgit Malaysia or RM.

Some useful information:

  • Currency:

    US$ 1.00 is approx Malaysian ringgit RM 3.20.

    1 Euro is RM 4.50

  • Credits Cards:

    Can be used in hotels, shopping malls and up scale restaurants. Some small town shops will only accept cash.

  • Traveler's Checks:

    Can be exchanged at the Banks. Western Unions can be exchanged at certain post offices and banks. Some hotels might be willing to exchange Travelers Cheques but the rate will not be profitable.

  • ATM Machines:

    The most convenient is Hong Kong and Shanghai Bank (HSBC), though there are many other banks available all over Penang which accepts all major credit and debit cards (cirrus-maestro, MasterCard, visa).

It is wise to carry enough cash to at least get you through the first day of your stay - about 100 Dollars.

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Tune Hotel

Guests will find that the Tune Penang features a central location in the heart of Georgetown, as well as numerous amenities on property. The hotel provides guests with access to a swimming pool, a spa, gymnasium, fully equipped meeting rooms and more.

The Merchant Hotel

The hotel is centrally located in the heart of Georgetown and is close to shopping areas and restaurants. There are 68 tastefully decorated rooms and suites with choice of city view or bay view. All rooms are comfortably furnished and carpeted with refrigerator, color TV, air-conditioning unit, and direct-dial telephone.

YMCA or Young Men Christian Association

The YMCA Penang houses 70 comfortable rooms. All rooms have modern amenities such as air-conditioning, attached hot/cold shower, telephone, television and coffee making facilities. One is never lonely here with activities by the locals.

Berjaya Hotel

Centrally located in Georgetown in the heart of Penang's food, shopping and entertainment district, this hotel is part of the "1-Stop Midlands Park", a complex comprising condominiums, offices, shopping arcades, supermarkets, bowling alley, water theme park, food and entertainment outlets.