RHB Multi Currency Debit card review - Is it worth getting in Malaysia?

With an RHB multi currency debit card¹ you can hold and spend in MYR and 30+ foreign currencies. This can be a handy tool for travellers, and anyone who likes to shop online with international ecommerce stores, allowing you to convert your ringgit to the currency you need for your purchases, with no further fee when you transact.

This RHB multi currency debit card review walks through the card features and fees. We'll also introduce the Wise card, a handy travel companion to make seamless card payments when you're overseas.

What is the RHB Multi Currency Debit card?

The RHB Multi Currency Debit card is marketed for people who are working or studying and require a facility to make payments in a foreign currency.

Once you have your card you can convert your MYR funds to any of 33 foreign currencies, for spending and making payments online. This can be useful for frequent travellers and international students for example. However, there are some costs to consider when using the RHB multi currency debit card. These include:

*Details correct at time of writing - 26th September 2025

Keep reading to learn more about the benefits of the RHB Multi Currency Debit card.

RHB Multi Currency Debit card requirements

You must be over 18 and hold an eligible RHB current or savings account to get the RHB Multi Currency Debit card. You can then apply for the RHB multi-currency account which offers a linked multi-currency debit card.

There are two different types of RHB Multi Currency Debit card - the standard card, and the RHB Premier Multi Currency Visa Debit Card.

You may qualify for the RHB Premier Multi Currency Visa Debit Card if you qualify for this account tier. This requires you to either³:

• Have 200,000 MYR in deposit, investment or Bancaassurance/Bancatakaful
• Have a monthly salary of at least 20,000 maintained with RHB Premier Joy@Work
• Have 100,000 MYR in deposit, investment or Bancaassurance/Bancatakaful and a monthly salary of at least 20,000 as well as having RHB credit facilities

With a RHB Premier Multi Currency Visa Debit Card your card issuance fee is waived if you hold at least 200 USD in your linked account, and the annual fee is waived with 3,000 MYR card spending.

RHB Multi Currency Debit card benefits

Here are some of the key RHB multi currency debit card features and benefits:

• Hold and spend 33 foreign currencies
• Preferential conversion rates and instant conversion
• Lock in exchange rates when you convert currencies
• Interest available on select currency balances
• No foreign transaction fee if you spend a currency you hold in your account
• PIDM insured to 250,000 MYR

How to use an RHB Multi Currency Debit card?

Once you have your RHB Multi Currency Debit card, you can spend and make cash withdrawals from your balance, at home and overseas.

If you have a balance in a foreign currency, there’s no fee to spend it with your card. So if you’ve got SGD in your account and heads over to Singapore, you can spend your SGD balance there with no further RHB fee. However, if you run short of SGD in your account, the bank will deduct your SGD spending from your MYR balance, and impose a 1% foreign transaction fee.

RHB Multi Currency Debit card vs Wise card

The RHB Multi Currency Debit card isn’t your only option for overseas and foreign currency spending. You may also be interested in the Wise card. Here’s a quick overview of the two options side by side:

*Details correct at time of writing - 26th September 2025

The Wise card is linked to an international Wise account which you can use to hold and convert 40+ currencies, receive payments in 20+ currencies, and send money to 140+ countries. There’s no fee to spend a currency balance you have in your account, and if you don’t have the currency you need, the card’s auto-convert feature will exchange for you, with the mid-market rate and the lowest available fee.

Wise mid-market rate vs RHB Multi Currency Debit card rate

If you want a multi-currency debit card to allow you to spend in foreign currencies, the exchange rate makes a big difference. If you get a bad rate, your MYR will buy less of the foreign currency you need for spending - making your international transactions more expensive in the end.

The RHB multi currency debit card rate is set by the bank and changes frequently. You can get the latest conversion rates from the RHB website⁴. RHB may add a small fee or markup when converting currencies based on the exchange rate. Premier customers might be eligible for preferential exchange rates compared to customers with a standard account - you’ll be able to see your rate online or by logging into your mobile banking app.

Wise manages currency conversion differently. Wise currency exchange uses the mid-market rate with no fee added - the costs of conversion are split out for transparency and start from 0.77%. This makes it easy to see exactly what you’re paying for your currency exchange in advance.

Wise ATM withdrawals vs RHB Multi Currency Debit card withdrawal fee

The RHB multi currency debit card withdrawal fee depends on the type of ATM you’re using:

• No fee for RHM ATM use
• 1 MYR for MEPS withdrawals
• 12 MYR for all other withdrawals

You may be able to make ATM withdrawals in Malaysia for free or for a low 1 MYR fee with RHB - but if you’re looking at the card for travel use, it’s important to note that the higher 12 MYR fee is likely to apply to most overseas withdrawals.

Wise offers 2 withdrawals to the value of 1,000 MYR monthly with no Wise fee. ATM operators may add their own charges on these withdrawals, so do look out for the messages on the terminal screen before you confirm your withdrawal. The Wise fee is then 5 MYR + 1.75% of the withdrawal value, once your no fee withdrawal limit is exhausted.

Summary: Which is better, the Wise card or the RHB Multi-Currency Debit card?

Wondering which is better? It all boils down to what you need the debit card for and how you plan to use it.

The RHB Multi-Currency Debit card is suitable if you’re already a RHB customer, in order to enjoy its full range of banking services including physical branches in Malaysia. However, the number of currencies offered are slightly less compared to Wise, so do ensure that the place you’re travelling to is supported. You’ll also be subject to a foreign transaction fee which might make your spending higher than expected.

On the other hand, Wise does not have physical branches, nor traditional banking services like credit cards and loans. However, you’ll still have access to great ways to move your money for low fees, and no hidden charges. You can receive payments with local account details for selected currencies, and convert to your desired currency whenever you want it. Whether you’re holding onto it, or spending it, you’ll get the same great rates.

This makes Wise the perfect choice for anyone wanting to spend, send, and receive multiple different currencies with transparent rates and fees, while RHB might be a better alternative if you prefer brick and mortar branches to manage your money.

1. RHB multi currency debit card
2. RHB multi currency card - product disclosure
3. RHB Premier
4. RHB exchange rates