The Malaysian Guide to Paying Overseas: Cash, Credit Cards & E-wallets

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So, fellow Malaysian, you’re travelling soon. Tickets bought, hotels booked, itineraries planned. Now what?

What about foreign currency?

A decade or two ago, you probably had to haul yourself to a local currency exchange or apply for a credit card that (hopefully) works.

But now in the big year of 2026, there’s tons of services for Malaysians to pay their way through their holiday, sometimes without seeing a single piece of cash!

So, let’s take a refresher at both classic and cutting-edge payment methods for travelling Malaysians, along with their pros and cons:

Cash

Despite many developed countries increasingly going cashless, good old cash is still king of travel for a reason.

Not only is it accepted *almost* everywhere from Winter Olympics host cities to Patagonian hotels or even Kenyan markets, cash means no fees from any merchant, bank, credit card provider. Just pay and forget!

“Almost”? In stores or even countries that have gone all-in on cashless, cash bills are increasingly being refused, particularly in in Finland or China. This is despite government initiatives against this.

In Malaysia, your best bet for getting foreign currency in cash is your local currency exchange located at shopping malls or touristy areas.

If you’re already at your destination, you can withdraw cash via debit or credit at ATMs but be prepared to get hit by hefty fees (e-wallets are an alternative, but more on that later).

Cash Pros & Cons

Good For: Old-school travellers, anti-cashless hipsters

Use Cases: Emergencies, tips, small purchases

Credit Card

Want to go cashless, but still want tried and tested? Then credit cards are it.

As long as your card has two red and orange circles or “VISA” stamped on it, you’ll have no problems paying for a hanbok rental in Seoul, an Austrian coffeehouse special or a doujinshi in Ikebukuro. No cumbersome stacks of cash or coins needed.

Got a broken item at a store or had your credit card stolen? Easy, simply call your credit card’s 24-hour hotline, detail your issues and you’ll usually be refunded or given a replacement card with no questions asked.

Better yet, travel credit cards offer plenty of perks and rewards for frequent travellers like more frequent flyer points, complimentary access to airport lounges or even travel insurance.

But, like many things in life, the devil lives in the fine print.

To even GET a credit card, you’ll need to jump through hoops labelled “credit score” and “minimum income”. Not easy for younger travellers or those with unconventional careers.

Of course, for credit convenience, you’ll be charged accordingly by both bank and credit card provider, usually either MasterCard or Visa (Maybe American Express?). Withdrawing cash from an ATM with a Maybank credit card? That will be another RM12, please.

Exchange rates? Sure, Mastercard and Visa technically publish their official rates online, but who is going to fiddle with their cumbersome websites before paying for their Nikko bus pass? Most likely, you’ll find out the rates on your credit card statement, long after your trip.

Credit cards: great on the surface, but keep an eye on the T&C.

Debit cards also share many of the pros and cons of credit cards, you’re just limited to your account balance and there’s little to no rewards programs.

Credit Card Pros & Cons

Good for: Veteran travellers, rewards and points hunters, cashless converts who want peace of mind, travellers to the US, Europe

Use Cases: Large, expensive or fragile purchases

E-wallets & Digital Wallets

The new kid on the block, e-wallets are an interesting fusion of traditional debit accounts and cards with modern tech.

Mainly accessed through smartphone apps, e-wallets involve topping up a digital account with cash and then paying via QR code. Certain e-wallet providers also issue a debit card that’s linked to your account.

Thanks to smartphones, e-wallets offer more transparency and faster, real-time currency quotes compared to credit cards. Tracking expenses – essential for budget travellers – is so much easier too, while budgeting is basically however much you choose to load in the wallet.

But, reloading e-wallets can take a while if you run out of balance – not fun when your internet connection is glitching out and there’s a long line behind you. Also, in North America and Europe, you won’t find many stores accepting QR e-wallet payments (physical cards are mostly accepted). Some e-wallets also charge you a fee for reloading via credit cards or cross-border payments.

Getting an e-wallet is as easy as downloading from your flavour of app platform, but due to government eKYC (know your customer) regulations, all of them now require identification verification to use them. Some noteworthy brands to check out are Touch ’n  Go, Wise, Alipay or even your bank app.

Travelling to China? Then you should download Alipay, WeChat and these must-use China apps while you’re there.

E-wallet Pros & Cons

Best for: Digital natives, lovers of transparent rates, budget trackers, travellers to Asia

Use Cases: Small, frequent purchases, ATM cash withdrawals

So which payment method is the best? If you ask me, all of them, or at least two.

Depending on your needs, you can choose to prioritize cash, credit card or e-wallets. But ideally, you should keep one other method as an emergency backup. Sure, it might be a bit harder to keep track of expenses, but you don’t want to get stuck without a way to pay on holiday, right?

Looking to spend that money somewhere? Try stopping by some of the world’s most gorgeous shopping malls or the pop culture havens of Akihabara and Ikebukuro. Sticking to local? There’s also our Amcorp Mall guide and bundle stores.