Admire the colourful murals among the streets of George Town, visit the majestic Kek Lok Si temple or enjoy the sights of nature as you hike up Penang Hill. No matter where you are in Penang, Get4x can help you find the best exchange rates from money changers in the city. Just search and select the best exchange rate near you before contacting your chosen money changer through the app to confirm the rate.
Exchange Your Currency In 3 Easy Steps
Select your currencies to discover the best cash exchange rates near you.
Choose your preferred exchange rate and contact the money changer to confirm a rate.
Pick up your ordered currency at the money exchange and enjoy your savings!
As per legislation, money changers need to detail the particulars of customers and receive a duplicate copy of identification documents for transactions of MYR$3,000 or above. Customers may therefore be required to prepare a printed copy for proof of their identity if they want to exchange more than the stipulated amount. Aside from being a target for terrorist financing, Malaysia faces great volatility in their currency after the 1MDB crisis. This has led to the stockpiling of Ringgit currencies, and the Malaysian Association of Money Services Businesses (MAMSB) has stepped in to warn Malaysian money changers against hoarding MYR. They have also invited the public to submit their complaints via their website if they are unable to get their hands on MYR - MAMSB would then investigate and take action against money changers according to its regulations. Should these preventive efforts fail, the BNM may even suspend licenses and impose other harsher measures. These measures are undertaken to protect the tourism industry of Malaysia, and to ensure the customers or visitors will always have access to ready supply of the local Ringgit currency.