Money & Costs
1. The Currency is the Malaysian Ringgit (MYR)
Currency BasicsThe ringgit is abbreviated as RM. Notes come in RM1, RM5, RM10, RM20, RM50, and RM100. Coins are 5, 10, 20, and 50 sen. As of 2026, RM 4.50 ≈ $1 USD. Cash is king at street food stalls and night markets — always carry small bills.
2. Malaysia is Affordable
BudgetStreet food costs RM 5–15 ($1–$3.50 USD). A mid-range hotel is RM 150–300 ($35–$70 USD). A dorm bed in a hostel is RM 25–60 ($6–$14 USD). You can travel comfortably on $40–$80 USD per day. It's significantly cheaper than Singapore and comparable to Thailand.
3. ATMs are Everywhere
BankingATMs are available in all cities, towns, and even many villages. Maybank, CIMB, and Public Bank are the largest chains. Inform your bank before traveling to avoid card blocks. Most ATMs accept Visa and Mastercard. Withdrawal fees are typically RM 10–20 per transaction.
4. Credit Cards are Widely Accepted
PaymentsCredit cards are accepted at hotels, malls, restaurants, and chain stores. However, street food stalls, night markets, and small local shops are cash-only. Always carry cash for food. Tipping is not expected in Malaysia — it's not part of the culture. A small service charge (10%) is sometimes added to restaurant bills automatically.
5. Bargaining is Expected at Markets
ShoppingAt night markets, Chinatown, and tourist shops, bargaining is standard practice. Start at 50% of the quoted price and work your way up. Fixed-price stores (malls, supermarkets, restaurants) do not negotiate. Smile and be friendly — aggressive bargaining is frowned upon.
6. No Tipping Required
EtiquetteTipping is not expected in Malaysia. Some restaurants add a 10% service charge to the bill. If they don't, there's no obligation to tip. The exception is hotel porters (RM 5–10 per bag) and tour guides (RM 20–50 per day). Tipping taxi drivers is not customary.