Best international debit cards: What are the options in Malaysia? [2024 guide]
Using a debit card to pay for things while you’re abroad is safe and convenient. You’ll be able to make cash withdrawals as you travel, rather than needing to convert cash before you leave home, too.
While most debit cards issued on global networks like Visa and Mastercard can be used overseas, there are some specific international debit cards which have been designed with frequent travellers in mind. These cards often have extra features like options to hold a multi-currency balance, and can also come with low international fees compared to using a standard debit card while you’re away.
This guide walks through some popular options for international debit cards in Malaysia, from specialist providers like Wise, as well as from major Malaysian and regional banks.
Quick summary: Best international debit cards in Malaysia
Wise card: 40+ currencies supported for holding and exchange, and you’ll get the mid-market exchange rate when you convert currencies in your account or to make a card payment.
RHB international Visa debit card: Accounts can hold any of up to 32 currencies and have easy online and mobile banking features you can use to convert currencies with better exchange rates than the bank may usually offer.
HLB international card: Add on feature with Pay&Save accounts allows you to hold and exchange 11 foreign currencies while earning interest on your account balance
HSBC Everyday Global card: Accounts support 11 major currencies and offer competitive exchange rates with ways to access promotional discounts and exclusive offers
Best international debit cards in Malaysia
| International card | Key points |
|---|---|
| Wise card |
|
| RHB international Visa debit card |
|
| HLB international card |
|
| HSBC Everyday Global card |
|
Best international debit cards: a comparison
Several popular banks in Malaysia offer international debit cards which you can use to hold a balance in a selection of foreign currencies, for convenient spending and withdrawals when you’re overseas. You can also get an international debit card from a non-bank alternative provider like Wise. While both options can help you reduce the costs of spending in foreign currencies, it’s well worth comparing a few different cards to see which is best for the specific types of transaction you’ll likely make.
Here’s a quick overview of some of the important fees to check out while you decide which card will work best for your spending needs.
| Card fees | Exchange rates | ATM fees | |
|---|---|---|---|
| Wise card | 13.7 MYR card order fee; no ongoing fees or minimum balance | Mid-market exchange rate | Some fee free withdrawals monthly - 1.75% + 5 MYR fee after that |
| RHB card | 20 MYR annual fee | Network rate + 1% when spending a currency you don’t hold | 12 MYR international ATM fee |
| HLB card | Fees depend on the underlying account you hold | Varied depending on the payment or conversion type | At least 12 MYR international ATM fee |
| HSBC card | No maintenance fee, 10 MYR annual dormant account fee if you do not use your account | Network rate + 1% when spending a currency you don’t hold | Fees vary based on ATM type and location, and your HSBC customer status |
Wise travel debit card
Wise is a digital provider, which means there’s no need to visit a branch to order your card or to transact. You can get your account set up online or by downloading the Wise app, to hold 40+ currencies and spend in 150+ countries. Wise uses the mid-market exchange rate whenever you need to convert your balance, with low fees from 0.43%. You can switch your balance from MYR to the currency you need in advance, or if you’d prefer you can just leave your money in ringgit and the card can convert for you at the point of payment. You’ll still get the mid-market exchange rate, and there’s no foreign transaction fee added.
Wise cards have some no-fee ATM withdrawals every month, with low fees after that - plus, there’s no monthly charge and no minimum balance or account dormancy fee.
| Wise pros | Wise cons |
|---|---|
✅ Hold and exchange 40+ currencies ✅ Free to spend a currency you hold in your account ✅ Currency conversion uses the mid-market exchange rate ✅ 2 fee free ATM withdrawals to the value of 1,000 MYR monthly ✅ One off fee to get your card, then no monthly maintenance fee | ❌ 13.7 MYR card order fee ❌ Currency conversion fees from 0.43% ❌ ATM fee of 1.75% + 5 MYR once you exhaust your monthly fee free withdrawals |
Spending internationally: No fee to spend a currency you hold in your account
Wise account fees: No monthly fee to pay, some transaction charges apply based on account usage
Wise card fees: 13.7 MYR fee to get a card in the first place
Wise exchange rate: Mid-market exchange rate, conversion from 0.43%
Great for: Low cost account option which has a great range of supported currencies and lets you spend in 150+ countries with the mid-market rate
More information: How to use Wise card abroad
RHB International Visa debit card
RHB offers an international Visa debit card you can use to hold and spend 32 currencies. You’ll also need to have a standard MYR account with RHB before you can apply, but once you’ve set up your account you can exchange between MYR and other supported currencies online or in a branch. It’s free to spend a currency you hold in your account already, but a foreign transaction fee of 1% applies if you’re spending a currency you don’t have. You’ll need to convert your balance to the currency you need when you’re overseas in advance to avoid this 1% charge.
This account is primarily offered as an investment account, and targeted at customers who want to diversify their portfolio by holding a balance in different currencies, and earning an interest on it. However, because it’s an easy access account, it can also be used conveniently to spend while you travel.
| RHB pros | RHB cons |
|---|---|
✅ Hold and spend 32 currencies ✅ Free to spend a currency you hold in your account ✅ Competitive exchange rates ✅ No fee to use a local RHB ATM to make a withdrawal ✅ Online and mobile banking options supported | ❌ 1% international fee when you spend an unsupported currency ❌ 12 MYR international ATM fee ❌ 20 MYR annual fee |
Spending internationally: Free to spend a currency you hold in your account
RHB account fees: Fees can vary based on how you set up your account
RHB card fees: 20 MYR annual fee, 12 MYR international ATM fee
RHB exchange rate: Network exchange rate + 1% when spending a currency you don’t hold in your account
Great for: Easy international spending, with an account that will let you hold a multi-currency balance and earn interest
HLB International debit card
If you choose HLB and open a Pay&Save Account or a Pay&Save Account-i, you can also get an international debit card to use when spending in MYR and any of 11 supported foreign currencies. This account is primarily a saving account and offers some good interest earning opportunities, which increase if you also buy HLB insurance and spend regularly with your card.
You’ll be able to switch between currencies with preferential exchange rates, and there’s no fee to spend a currency you hold in your account. The overall fees for this account may vary based on whether or not you hold HLB premium customer status, and the specific card you choose to order.
| HLB pros | HLB cons |
|---|---|
✅ Hold MYR and 11 foreign currencies ✅ Free to spend a currency you hold in your account ✅ Get basic interest on your savings, and increase the available interest rate if you also invest and transact frequently ✅ Islamic account available ✅ International transfers also available | ❌ 12 MYR or 2% international ATM fee ❌ 50 MYR minimum deposit to open a Pay&Save Account ❌ 5 MYR fee every 6 months if your average balance falls under 200 MYR |
Spending internationally: No fee to spend a currency you hold in your account
HLB account fees: Card issue fees may apply depending on the type of card you choose
HLB card fees: At least 12 MYR international ATM fee
HLB exchange rate: HLB exchange rate applies
Great for: High interest earning opportunities if you frequently use HLB products and services
HSBC Everyday Global card
HSBC’s Everyday Global card is an easy way to hold and spend in a selection of 11 major currencies. As with many HSBC products, there are extra benefits available to Premier and Advance tier customers - although to qualify for this account status you’ll have to hold a large deposit with HSBC.
Once you have an account open you can spend a currency you hold in your account for free, pay bills, send international transfers and make cash withdrawals. This account can also be used to hold your salary, and as an everyday account for day to day use, with no account maintenance fee to pay.
| HSBC pros | HSBC cons |
|---|---|
✅ 11 supported currencies ✅ Free to spend a currency you hold in your account ✅ Free to withdraw at HSBC Malaysia accounts ✅ Some fees are waived for Premier and Advance customers ✅ Well known bank with large global ATM network | ❌ International and out of network ATM fees apply for standard account holders ❌ 1% foreign transaction fee ❌ For Premier status you’ll need a balance of 200,000 MYR or more held in an eligible account with HSBC |
Spending internationally: No fee to spend a currency you hold in your account
HSBC account fees: 10 MYR annual dormant account fee
HSBC card fees: Variable ATM fees apply, depending on the specific ATM. Free to withdraw at an HSBC Malaysia ATM. Premier and Advance account holders may have international fees reduced or waived
HSBC exchange rate: Visa exchange rate + 1% fee
Great for: Popular and flexible account with ways to reduce account operating costs if you’re a Premier or Advance customer
What is an international debit card?
An international debit card can be used much like any other debit card, but it’ll often have some good extra features to cut costs and make life easier when you travel.
Many international debit cards from major banks and from non-bank alternatives like Wise have ways to hold a foreign currency balance so you can convert to the currency you need in your destination before you travel. That makes budgeting easier and also gives you an opportunity to lock in the exchange rate you’re getting. Once you’re overseas, you can use your international debit card wherever you see your card network logo displayed, including to pay merchants and to make cash withdrawals at ATMs.
Foreign transaction fees with international debit cards
Foreign transaction fees are usually an extra percentage fee added to the costs when you spend with a card internationally. With standard bank accounts, these charges will often apply when you spend in any foreign currency.
With an international debit card, you may find that there’s no foreign transaction fee to pay when you spend a currency you hold in your account - so if you have a balance in USD and you’re on a trip to the US, there would be no extra charge applied, for example. However, if you’re in the US and the only currency in your account is MYR, you may find a foreign transaction fee is added, which will normally be around 1% of the transaction cost for an international debit card.
Not all international debit cards have a foreign transaction fee. With some, like the Wise travel debit card, you can let the card convert your account balance to the currency you need at the point of payment with no penalty.
Here’s a quick run down of the foreign transaction fees that apply to the cards we looked at earlier:
Wise foreign transaction fees: No foreign transaction fee, the Wise card converts your balance at the point of payment with the mid-market rate and fees from 0.43%
RHB international Visa debit card foreign transaction fees: 1% foreign transaction fee to spend a currency you don’t hold in your account
HLB international debit card foreign transaction fees: 1% foreign transaction fee to spend a currency you don’t hold in your account
HSBC Everyday Global foreign transaction fees: 1% foreign transaction fee to spend a currency you don’t hold in your account
Check out our full review of the best cards with no foreign transaction fees, here.
Currency exchange fees
Aside from the foreign transaction fee, you’ll also need to double check if there’s a currency exchange fee for the international debit card you select. In some cases this will be shown as a separate charge, but it’s often a bit harder to spot, as the fee is added into the exchange rate being used to convert your balance from one currency to another. Compare the exchange rate your card offers against the mid-market exchange rate which you can find with a currency conversion tool, to see if this fee - known as a markup - has been added.
ATM Withdrawal fees abroad
One last - and important - fee to watch out for is the cost of making cash withdrawals overseas. Different cards have their own ATM fees, which can sometimes be a bit complicated to figure out. You might find varying fees depending on the type of ATM you use, or your account status for example. Some cards, like the Wise card, offer a fixed number of no-fee ATM withdrawals every month and then charge low, transparent fees for withdrawals after that, while some cards have a charge for every ATM withdrawal you make.
3 Types of international debit cards in Malaysia
As we’ve seen, there are quite a few different international debit cards to choose from in Malaysia. Different types of cards have their own features, but most will fall under one of the following categories:
Prepaid international debit card
Prepaid international debit cards are also referred to as travel money cards. These need to be bought and topped up with a balance before you can use them. Usually these cards offer the option to hold a foreign currency balance and let you view all your transactions through an app. One big advantage of these cards is that you can add a balance before you travel, and hold it completely separately to your normal ringgit account. That can make budgeting easier when you’re away from home as you can only spend the amount you’ve added to the card in the first place.
Learn more: Best prepaid cards for international travel
International card with traditional banks
We’ve looked at some options for international cards with banks in Malaysia, including from HLB and RHB. These cards are linked to an underlying account which may be a saving account or an account designed for everyday use. Banks are likely to add a markup to the exchange rates used for converting currencies, but getting an international card from your bank does mean there’s no need to open a new account with a different provider. Bear in mind that international cards from a bank may have ongoing fees to pay, either for the card itself or for the underlying account you pick.
International card with online specialist providers
International cards from specialist providers like Wise can often be the cheapest option available. Specialist services usually don’t have a branch network which reduces the costs of running the business, and allows them to pass savings on to customers in the form of low card fees. Specialist cards like these have also been designed with international travellers in mind, so the features are all optimised to offer benefits and save costs when you’re away from home.
How does an international debit card work?
You can use your international debit card conveniently at home and abroad, including to make cash withdrawals. Most international debit cards are contactless so you can tap to pay, or add your card to your favourite mobile wallet.
International debit cards are usually not linked to your main bank account, which means you’ll need to add a balance before you can use your card. Top up in MYR and convert to the currency you need - often this can be done instantly through an app. Once you have the balance you need you’re ready to start spending.
How can I use my international debit card abroad?
Add some money to your debit card account, and convert to the currency you’re going to need in your destination, then you’ll be able to use your card wherever you see the network logo. Most international debit cards are issued on the Visa or Mastercard network as these are globally popular and widely available. Check which network your card is on, and look out for that logo on an ATM or when you go into a store.
Before you use your international debit card to spend in a foreign currency, make sure you’ve read the account fee schedule carefully. Some costs, such as overseas ATM fees, can be pretty high. ATM operators may also charge you a fee, which pushes the overall price up even further. Weigh up a few different card options to find the one that suits your spending patterns best.
How to get an international debit card
You can get an international debit card from your bank or from an online service. If you’re using a bank card, you may need to visit a branch to request a card, or complete an online form and wait for a member of the customer service team to call you back. Digital only providers like Wise let you order a card with your smartphone or laptop, and have it delivered to your door for convenience.
To give an example of how this works, here’s how to get a Wise card in Malaysia, step by step:
Open the Wise desktop site or app and click on Create account
Enter your email address, Google, Apple or FaceBook ID
Tap the type of account you want to open - personal or business
Follow the prompts to enter your contact information
Verify your account, following the onscreen instructions
Once your account is open, tap the Cards tab
You’ll be able to order your Wise card for home delivery, and get instant access to a Wise virtual card you can use online and with a mobile wallet
Advantages of international debit cards
Getting an international debit card can be a smart plan if you shop online with international retailers, or if you travel a lot. International debit cards often have specific features to make it cheap and convenient to spend and make cash withdrawals in foreign currencies, including options to hold a balance in different currencies, so you can budget for your trip in advance.
Not convinced? Here are a few more advantages of international debit cards to help you decide if it’s the right option for you:
International debit cards often let you hold a foreign currency balance, and offer preferential exchange rates
It’s normally free to spend a currency you hold in your account, so you avoid the normal foreign transaction fees charged by banks
Some international debit cards have some low fee or no fee ATM withdrawals on offer so you can get cash for your trip easily
Many international debit cards have extra features, such as ways to send overseas payments and pay bills
Conclusion: Are international debit cards worth it?
Getting an international debit card is usually pretty easy to do, and it can make spending overseas cheap, convenient and safe. You’ll be able to save and budget for your trip separately to your usual bank account, and many international debit cards also let you convert your balance to the currency you’ll need in your destination so you can see how much you’ve got to spend instantly.
Choosing an international debit card from your regular bank is convenient as you won’t need to register a new account with a different provider. However, it’s important to look at the costs of an international debit card from a bank, which can sometimes be fairly high and include exchange rate markups. Compare the options from your bank in Malaysia against digital specialist services like Wise which lets you hold and exchange 40+ currencies, with the mid-market rate, low fees from 0.43% and no foreign transaction fee to worry about.