Money

Malaysia's currency is the Malaysian ringgit. Prices are marked as RM (a designation I've used throughout this guide). Notes are issued in denominations of RM1, RM2, RM5, RM10, RM20, RM50, RM100, RM500, and RM1,000. One ringgit is equal to 100 sen. Coins come in denominations of 1, 5, 10, 20, and 50 sen, and there's also a 1-ringgit coin.

In 2005 Malaysia ended a 7-year peg of the ringgit at RM3.80 to US$1. Now, the country uses a managed float system that measures the currency against a basket of several major currencies. At the time of writing, 1 ringgit was worth US28¢ and UK14p -- this is the conversion rate I've used for this guide.

Currency can be changed at banks and hotels, but you'll get a more favorable rate if you go to one of the money-changers that seem to be everywhere; in shopping centers, in little lanes, and in small stores -- just look for signs. They are often men in tiny booths with a lit display on the wall behind them showing the exchange rate. All major currencies are generally accepted, and there is never a problem with the U.S. dollar.

ATMs

Kuala Lumpur, Penang, and Johor Bahru have quite a few automated teller machines (ATMs) scattered around, but they are few and far between in the smaller towns and nonexistent on smaller islands and remote beach areas. In addition, some ATMs do not accept credit cards or debit cards from your home bank. I have found that debit cards on the MasterCard/Cirrus or Visa/Plus networks are almost always accepted at Maybank, with at least one location in every major town. Cash is dispensed in ringgit deducted from your account at the day's rate.

Credit Cards

Credit cards are widely accepted at hotels and restaurants, and at many shops as well. Most popular are American Express, MasterCard, and Visa. Some banks may also be willing to advance cash against your credit card, but you have to ask around because this service is not available everywhere.

In Malaysia, to report a lost or stolen card, call American Express at its head office in Kuala Lumpur (tel. 03/2161-4000); for MasterCard call tel. 800/804-594; and for Visa call tel. 800/800-159. Both numbers are toll-free from anywhere in the country.

Traveler's Checks

Generally, travelers to Malaysia will never go wrong with American Express and Thomas Cook traveler's checks, which can be cashed at banks, hotels, and licensed money changers. Unfortunately, they are often not accepted at smaller shops. Even in some big restaurants and department stores, many cashiers don't know how to process these checks, which might lead to a long and frustrating wait.