Local currency in Genting Highlands Malaysia is RM (Malaysian Ringgit), and its currency code is MYR. This is also the currency that is used in the two casinos there – Genting Casino and Sky Casino. If you have landed in Genting Highlands from a foreign country and need to change your currency into RM or use your international ATM card, you need not worry because you will find ATMs and echange counters in several places in Genting Highlands within the entertainment complex itself.
ATMs are easier to find. There are a few at the lobby level of First World Hotel. From the hotel lobby, turn left towards the hotel lifts, walk a little and you will see ATMs on the left side of the passage. Here you will find ATMs of four banks – Maybank, CIMB Bank, Public Ban, and Hong Leong Bank. The CIMB Bank ATM also doubles as a cash deposit machine, in case their customers happen to win a lot of money in the casino and need to deposit it somewhere. There are also ATMs outside the two casinos: Genting Casino and Sky Casino. Since all ATMs are in public areas, they can be accessed at any time, day or night. With the exchange counters, however, one will need to watch the hours.
Dynamic Currency Conversion
Malaysian ATMs offer dynamic currency conversion (DCC) and sometimes even force the customer to choose DCC or else no money is dispensed. I made two separate ATM withdrawals in Sky Avenue. For one I chose DCC and for the other I chose “No DCC”. For the DCC transaction, my bank is yet to charge me “Overseas ATM usage Fee”. Now if that fee is never charged, the transaction with DCC would prove to be cheaper. Banks in Malaysia do not levy any ATM usage charge like the banks in Thailand do.
There are exchange counters in the Sky Avenue (located near Car Park Lift on Level 1), and also inside the casinos. I used the Maybank exchange counter in Genting Casino. My guess is that the exchange counters inside the casinos will be open 24/7 but the ones in Sky Avenue will close before 10:00pm. The Sky Avenue open-close time is 10:0am to 10:00pm but the exchange counters may close before 10:00pm, so just watch the clock if you need to change money. Otherwise, go inside one of the two casinos, and change your money. Then come out quickly without gambling with your money. Remember that you went in there to change money, not to lose it.
Exchange rates at any exchange counter in Genting Highlands are the same at any given point of time. There is no difference between CIMB Bank and Maybank and also there is no difference between the counters inside casinos and those outside. However, exchange rates in Genting Highlands are a lot better as compared to Kuala Lumpur Airport. Do not change money at KLIA or KLIA2 unless you really need to. On the day of my arrival in Malaysia, the official USD-MYR exchange rate was 4.08. The airport exchange counters were offering 3.70 RM for one USD whereas the Genting Highlands exchange counters were offering 3.98.
From a strategy point of view, it is better to carry USD while traveling to Malaysia. Then change your dollars into RM at an exchange counter in the city or at Genting Highlands. Just avoid the airport counters. The second best option is to use an ATM.