Going to Malaysia? Taking your Australian credit card with you?
Australian credit cards can be used in Malaysia, but some fees may apply. The information below explains when fees are charged and how much they might cost.
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Credit cards with no Malaysian currency conversion fees
Highlights
- Enjoy 0% p.a. interest on balance transfers for 24 months, with a 3% balance transfer fee (then 12.99% p.a. thereafter).
- Benefit from up to 55 interest-free days.
- Offer exclusively for new customers within a specified period. Additional charges, along with terms and conditions, apply.
Pros
Cons
Highlights
- Annual fee waived.
- 0% p.a. for 6 months on purchases and transferred balances (with a 3% balance transfer fee). Returns to 18.99% p.a. thereafter.
- Offer valid for new customers within a specified timeframe. Additional fees and terms and conditions apply.
Pros
Cons
Thinking of hitting the shops?
Potential fees when shopping with a credit card in Malaysia
When you shop in Malaysia with an Australian credit card, remember that there may be conversion and transaction fees to add on top of the price.
- Currency conversion fee. If you spend the equivalent of $300 on your credit card in Malaysia, you could be charged up to $9 in currency conversion fees because most cards charge about 3% for currency conversion.
- Merchant’s currency conversion fee. If you choose to pay in Australian dollars, you may incur another fee for dynamic currency conversion. It’s usually cheaper to pay in the local currency (Malaysian ringgit) than it is to pay in Australian dollars.
Need to pay with cash?
Using a credit card to get cash in Malaysia
Most merchants in Malaysia accept credit cards. You can use your card to withdraw cash from an ATM if you need cash. However, this can get expensive because of the fee schedule.
- Overseas ATM withdrawal fee. The local ATM network in Malaysia could charge you to withdraw cash with your credit card.
- Cash advance fee. Withdrawing cash is considered the same as a cash advance and will incur a fee. 1%-3% of the amount withdrawn is fairly typical.
- Cash advance rate. As well as the cash advance fee, you’ll be charged interest at the cash advance rate from the transaction date. Most cards do not have an interest-free period on cash advances.
Want more help?
FAQs
Do I need to notify my credit card issuer about taking my card to Malaysia?
Although it is not mandatory, many credit card issuers prefer to know in advance that you will be taking your card with you. If you do not notify them, it is more likely that your card will be blocked for suspected fraudulent activity until you do notify them.
Is it safe to use a credit card in Malaysia?
Yes, it is safe to use a credit card in Malaysia. However, you should take the same precautions as you would when at home.
What credit cards are accepted in Malaysia?
Credit cards from American Express, Mastercard, and Visa are widely accepted, although acceptance varies depending on the merchant.
Is it better to pay in Malaysian ringgit or Australian dollars in Malaysia?
It is generally cheaper to pay in the local currency. If offered the choice between paying in Malaysian ringgit or Australian dollars, choose to pay in Malaysian ringgit.
Do contactless credit card payments work in Malaysia?
Yes. You can use contactless cards to pay wherever contactless payments are accepted.
Can you earn points on what you spend with a credit card in Malaysia?
Yes. Depending on your card, you may even earn reward points at a higher rate per dollar spent while in Malaysia.
What do I do if I lose my credit card in Malaysia?
If you lose your credit card, call your bank and report it as lost. They can issue a replacement card and deliver it to your address in Malaysia.
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