Expat Finance Services in Malaysia

The currency used in Malaysia since 1967 has been the Malaysian ringgit, originally also known as the Malaysian dollar. The Malaysian dollar officially replaced the previous currency, the Malaya and British Borneo dollar in that year. Bank notes are available for the denominations of 1, 2, 5, 10, 50, and 100 Malaysian Ringgits.

 

There is a national bank in Malaysia, the Bank Negara Malaysia. There are also several international banks, such as the Bank of America and Citibank, as well as a number of domestic banks and Islamic banks in the country. It is not uncommon for Malaysian banks these days to make use of modern information technology with automated telephone banking and online internet banking, which many Malaysians are turning to in order to reduce the long waiting lines in the branches.

 

Anyone can open a bank account in Malaysia, but if they don't have Malaysian residence then they will need a work permit or at least some kind of reference. Those with a bank account can also apply for a Malaysian ringgit credit card. Most worldwide credit cards, like Mastercard and Visa, etc., are acceptable in Malaysia, and there are many ATMs that will work with foreign debit cards, although they tend to be turned off after midnight.


See our guides

Currency Exchange in Malaysia

Need to transfer money or make a significant purchase abroad? Compare foreign exchange specialists and get the best exchange rate on the market.

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Current Account in Malaysia

Current accounts specifically created to address your needs as an expatriate. Multi currency, bill payments… find the solutions to your everyday banking needs.

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Offshore Savings in Malaysia

Compare offshore savings accounts and find the right solution that meets your saving requirements while living abroad.

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Expat Mortgages in Malaysia

Free and no obligation quotes to help you find the best overseas mortgage. Compare overseas mortgage advisors and make a free enquiry

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Financial Advice in Malaysia

Get information on investment portfolio building to achieve your investment objectives according to your risk profile.

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Expat Savings in Malaysia

Make an initial no-obligation enquiry about saving plans, school fees planning, retirement planning. Save money, plan ahead and discover all the attractive options available to you as an expat.

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QROPS in Malaysia

Learn more about Qualifying Recognised Overseas Pension Schemes. Make an initial no-obligation enquiry to get expert advice on transferring your pension overseas

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Online Broker in Malaysia

Compare online brokers for forex trading, cfd trading, internet share trading and more..

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US Expat Tax in Malaysia

American expatriates have the legal obligation to file US tax returns yearly on their income wherever sourced. Get free advice and US tax returns filling quote

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Tax Advisory in Malaysia

Make an initial no-obligation enquiry on tax planning, tax return or tax issues that you may face as an expatriate.

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