Euro card in Malaysia: What are the options? 
A euro card allows the holder to make easy and convenient payments in EUR when travelling in the Eurozone, or when shopping online with a retailer that bills in euros.
Usually with a EUR card you’ll have a linked multi-currency account you can use to hold and exchange euros alongside ringgit and other major currencies. You can add a balance in MYR and switch over to EUR within the account, to then spend with no extra charge when you need fast access to euros for a payment.
This guide walks through 3 of the best euro cards available for customers in Malaysia, including a comparison of the EUR card from Wise, a specialist provider, against a couple of major banks - RHB and HSBC.
Table of contents:
- What is a Euro card
- 3 best Euro cards in Malaysia
- Wise multi-currency debit card
- RHB Multi-Currency Visa debit card
- HSBC Everyday Global card
- Where can I use a EUR card?
What is a Euro card
Euro cards can be used more or less like any other payment card, but they’re usually linked to a flexible multi-currency account you can use to hold euros and a selection of other currencies.
That means you can add MYR to your account from your bank, then convert to Euro in the card account, and spend or make withdrawals in the Eurozone with no extra fee.
What is a EUR card good for?
Euro cards can help you manage the costs of exchanging MYR to EUR, and also be a good way to avoid the risks of currency exchange fluctuations. They’re handy as safe and convenient ways to pay when you travel to Europe, but they can also be used at home in Malaysia when you shop online and pay in euros.
The EUR cards we’ve featured in this guide all let you add money in MYR and convert to EUR when you want to - that means that you can switch if you spot a good exchange rate, or use your card account as a simple way to save for your next trip to Europe. There’s then no fee to spend while you’re away from home - just tap and pay, or add your card to a wallet like Apple Pay for even more convenience.
If you’re not sure how much you’re going to want to spend in EUR, you may also be interested to learn that the Wise card has autoconvert technology that converts your balance from MYR to EUR instantly and with no foreign transaction fee. That means you don’t need to convert in advance, and you’ll still get the mid-market exchange rate plus the low Wise conversion fee, which starts from 0.43%.
Pros and cons of EUR card
|EUR card pros
|EUR card cons
✅ Hold euros as well as a selection of other popular currencies to make it easier to spend globally
✅ It’s usually free to spend currencies you hold in your account
✅ Add ringgit and switch to euros in your account to set your travel budget in advance
✅ Secure for overseas spending and cash withdrawals
✅ Convenient and issued on globally accepted networks
❌ Fees can apply which can include order and delivery costs, and transaction charges
❌You won’t necessarily get your card instantly, as it may need to be delivered by mail
❌ Top up fees might apply
3 best Euro cards in Malaysia
Euro cards are available from banks and also from non-bank alternative providers like Wise. Alongside EUR you can also often hold a selection of other major world currencies, making this a smart option for anyone who spends in foreign currencies often, in person or online. The features and fees of different euro cards can vary a lot. To illustrate, and to help you compare, let’s look at the EUR card from Wise - a non-bank service, from RHB as a major local bank, and from HSBC - a global banking brand.
Wise multi-currency debit card
Register for a Wise multi-currency account online or in the Wise app, and order your linked Wise EUR card for a one time fee of 13.7 MYR. Once you have your card there’s no minimum balance and no monthly fee to pay - you’ll just pay low transaction fees for the services you choose to use.
Wise accounts can support EUR alongside 40+ currencies, for spending in 150+ countries globally, plus you can also use your account to send and receive a broad selection of currencies, too. More information: How to use Wise card in Europe
✅ Personal accounts are free to open, with no monthly or annual fee
✅ Currency conversion uses the mid-market rate, fees can be as low as 0.43%
✅ Hold euros and 40+ other currencies with no fee to spend a currency you hold
✅ Convert in advance to set your budget, or let the card convert at point of payment
✅ Flexible card for local and international use
❌No branch service
❌ 13.7 MYR card order fee
❌ Some transaction fees apply, including ATM fees once you’ve exhausted your fee free allowance
You’ll need to first add a balance to your card in ringgit, and then you can either switch to EUR or just let the card handle the conversion for you at the point of payment. In either case, conversion is carried out with the mid-market rate and low fees from 0.43%. You’ll also get some fee free ATM withdrawals every month, with low charges once your fee free allowance is exhausted.
Learn more: Wise card in Malaysia
RHB Multi-Currency Visa debit card
If you have an eligible MYR account with RHB, you can also order the RHB Multi-Currency Visa card, to hold EUR as one of a total of 32 currencies which are supported for holding and exchange. When you convert your ringgit to euros you get preferential exchange rates, and there’s then no foreign transaction fee to spend a currency you have in your account.
There’s a 1% fee when you spend a currency you don’t hold in your account, so it’s important to remember to convert your balance to EUR before you start spending to avoid extra costs.
✅32 supported currencies, including euros
✅ No extra fee to spend a currency you hold
✅ Preferential exchange rates when converting within the account
✅ Opportunity to earn interest on your balance
✅ PIDM insured for all deposits, to the legal maximum
❌ 1% fee to spend a currency you don’t hold
❌ 12 MYR international ATM fee
❌ 20 MYR annual fee
HSBC Everyday Global card
Hold euros for convenient spending with the HSBC Everyday Global account and card. In total, 11 major currencies are supported, and as with the RHB card, there’s no fee to make payments from a currency balance you have in your account, but a 1% foreign transaction fee is added if you’re spending a currency you don’t already have. That means you need to add ringgit and switch over to EUR in advance to get the best available deal.
This card is also available for HSBC Advance and HSBC Premier customers, who may be able to unlock extra benefits and lower overall fees.
✅ 11 supported currencies, including euros
✅ No fee to spend any currency you hold in your account
✅ No account maintenance or set up fees
✅ Apply online in minutes
✅ Premium accounts available for customers who invest with HSBC already
❌ Up to 10 MYR international ATM fees apply
❌ 1% fee to spend a currency you don’t hold in your account
❌ To access the highest account tier you need to hold investments of 200,000 MYR or more with HSBC
Where can I use a EUR card?
20 countries in Europe use the euro, which makes this a pretty powerful card to have for your next trip there.
Use your card to make payments and withdrawals in any of the Eurozone countries, and as an easy way to manage your travel money securely.
You can also use your card to shop online with international retailers, and as long as you’ve got a EUR balance you’ll usually avoid foreign transaction fees.
Related: Best travel cards for Europe
Costs of getting a EUR card in Malaysia
Different banks and non-bank providers have their own fee structure, which means it’s important to read through all the fine print carefully before you pick the right card and provider for your personal needs. Let’s look at the most common fees you might run into with the cards we’ve looked at here.
EUR card fees
|Get a card
|13.7 MYR, one time order fee
|20 MYR issuance fee, waived if you add at least 200 USD to your balance
|Free to add money with local bank details in 9+ currencies
|Free top up options available
|Free top up options available
|Account maintenance fee
|20 MYR annual fee
|Spend in USD
2 withdrawals, to 1,000 MYR in value free every month
5 MYR + 1.75% after that
|Up to 12 MYR depending on the ATM
|Up to 10 MYR depending on the ATM and your account status
*Fee information correct at time of writing, 5th December 2023
EUR card exchange rate
Exchange rates can make a big difference when spending in a foreign currency. As each bank or provider can set their own rate, it’s worth checking on this before you sign up for a EUR card.
Take a look at the mid-market exchange rate for MYR - EUR to help you compare the rates offered by banks. This can be found online or with a currency conversion tool.
The mid-market rate is the one banks buy and sell foreign currencies with on global exchange markets, but it’s not often passed on to customers. Instead, a markup - a fee - is added to calculate the rate used for retail transactions.
With a euro card you’ll often find you get preferential rates which are better than usually offered, but there may still be a fee tucked away there. As an alternative, Wise offers the mid-market exchange rate with low fees from 0.43% which are split out transparently. This can make it easier to calculate exactly what your transactions are costing you.
Euro card in Malaysia
You’ll be able to use any of the cards we’ve profiled above in Malaysia as well as in Europe and a selection of other countries and regions. However, bear in mind that you might run into fees if you don’t hold the currency you need in your account.
If you’ve converted your whole balance over to EUR and then later make a payment in MYR, you might get charged a fee to switch your balance back to ringgit to process the transaction. This ends up costing more than is necessary, so make sure you have the currency you need wherever in the world you are, before you start to spend.
What are the requirements to get a EUR card
EUR cards are available from banks and non-bank services. There are a couple of common requirements:
You’ll usually have to be over 18
You’ll usually need to be able to provide a valid proof of ID and Malaysian address
Aside from that, banks may also ask you to open an eligible MYR account with them in order to add on the EUR card and balance facility. This might mean you need to add a specific amount of money to your MYR account to get it set up. Finally, if you’re hoping to unlock a higher customer tier such as HSBC Advance or HSBC Premier, in order to get lower overall costs on your EUR card, you’ll need to meet quite stringent eligibility requirements, including holding a high deposit with HSBC.
How to get a EUR card in Malaysia
Getting a euro card might be a different process if you choose a card from a bank, compared to getting a card from a digital only service like Wise.
You might be able to apply online for your euro card from your preferred bank, but there may be other account opening conditions - including having an eligible MYR account with them already. To arrange that you may need visit to a branch so you can show your documents and get verified in person.
As an alternative, non bank providers like Wise, which don’t have a branch network, have developed fully in-app or online application processes. All you’ll need to do is register an account by adding your personal and contact details, then upload images for your proof of ID and address for verification. That can all be done with nothing more than your phone, making it super fast and convenient.
Check with your preferred bank or provider to see what their particular process is, and to make sure you have all the right paperwork prepared.
Learn more: How to get a Wise card in Malaysia
EUR cards are aimed at anyone spending euros frequently - either when travelling or shopping online. With a euro card you can usually add a balance in MYR, and then convert to EUR - often with preferential exchange rates - either in advance or at the point of payment. Once you have a EUR balance, there are no foreign transaction fees to pay when you spend or make cash withdrawals in euros.
EUR cards are available from local, regional and global banks, but it’s worth comparing the costs as some transactions like ATM withdrawals can be pretty pricey. As an alternative, specialist non-bank services like Wise have low cost EUR cards which are safe and which allow you to spend, send, hold, exchange and receive a broad selection of currencies including euros, ringgit and more.
What are the benefits of using a EUR card?
EUR cards are designed to make it cheap, safe and convenient to spend in euros, whether you’re travelling in person to the Eurozone or shopping online with stores based in Europe.
Are EUR cards available in Malaysia?
Yes. Pick up a euro card from a specialist non bank provider like Wise, or from banks like RHB or HSBC. Each option has its own features and fees so comparing a few is a good idea to make sure you get the right one for you.
How much does a EUR card cost?
The cost of getting a euro card depends on the specific card you select. Fees can include card order fees and charges for currency conversion or ATM withdrawals. However, many cards offer some low or no cost transactions - double check the fee schedule for the card you prefer so there are no surprises.