Most holiday budgets are nowhere near any legal limit, but it's worth knowing the rules before you pack, especially if you're travelling for umrah or hajj with family, funding a long stay or carrying cash for a business trip. The rules are about declaring money, not banning it, and the penalties for ignoring them are steep.
The short answer
If you carry more than the equivalent of US$10,000 in cash or bearer instruments, you must declare it when leaving or entering Malaysia. Ringgit notes also have their own cap of US$10,000 equivalent.
Rule of thumb
For a normal holiday, carry holiday-sized amounts, keep your receipts from licensed changers, and check the rules for your destination. For large sums, use a bank transfer instead of cash.
Malaysia's declaration rule
Under Malaysia's anti-money laundering law, travellers entering or leaving Malaysia with cash or negotiable bearer instruments, such as traveller's cheques, above the equivalent of US$10,000 must declare it. Declaration forms are available at counters before the customs checkpoints at all entry and exit points. Failing to declare, or making a false declaration, can lead to a fine of up to RM1 million and/or imprisonment of up to one year, according to Bank Negara Malaysia.
Note that the threshold applies to the total you carry, including all currencies combined.
How much ringgit you can take out
Bank Negara Malaysia's foreign exchange policy caps ringgit notes separately from foreign currency:
- Ringgit β residents and non-residents may carry ringgit notes into or out of Malaysia only up to the equivalent of US$10,000. Anything above that needs Bank Negara Malaysia's approval.
- Foreign currency β there's no cap on the foreign currency notes and traveller's cheques you carry, but the declaration rule above still applies once your total passes US$10,000. Non-residents leaving Malaysia can generally take out up to what they brought in.
For most holidays this is more than enough. If you need to move more, such as for tuition, medical bills or property, use a bank transfer or a licensed remittance provider instead of cash.
Limits when you arrive
Every country sets its own reporting threshold. These are the thresholds for some popular destinations at the time of writing:
- Japan β you must declare cash and other means of payment worth more than Β₯1 million (including foreign currency) to Customs.
- Saudi Arabia β you must declare cash, precious metals and similar items worth SR60,000 or more (or the equivalent in other currencies) through ZATCA, either online beforehand or at the customs office. This matters for umrah and hajj travellers carrying cash for the whole family.
- Australia β you must report cash and monetary instruments worth A$10,000 or more (in any currency, combined) to AUSTRAC when you arrive or leave.
- Singapore β you must report cash or bearer negotiable instruments with a total value above S$20,000, or the equivalent in other currencies, when you enter or leave.
- Thailand β you must declare foreign currency above US$20,000 (or the equivalent) when you bring it in or take it out. Thailand also limits the baht you can take out without declaring to THB 50,000 for most destinations, and THB 500,000 for neighbouring countries.
- United States β you must report currency or monetary instruments above US$10,000 to US Customs and Border Protection.
Some countries (the US, for example) count groups travelling together as one, so check before you assume each person's share is below the limit.
What counts as cash
The rules usually cover more than banknotes. Depending on the country, they can include:
- foreign currency and coins,
- traveller's cheques and other bearer instruments,
- in some cases gold, precious metals and jewellery above a set value.
Rules change, check official sources
Thresholds, forms and procedures are updated from time to time, and some countries now ask you to declare online before you travel. Always check the official source before you fly, such as Bank Negara Malaysia, the Royal Malaysian Customs Department and the customs or border agency of your destination, rather than relying on this guide alone.
Practical tips
- Keep your receipts β licensed changers give you a receipt for your exchange, which helps show where your money came from.
- Don't try to game the threshold β splitting cash across bags or companions to stay just under a limit doesn't help, because many countries count groups travelling together as one.
- Declare if in doubt β declaring costs you a few minutes, while failing to declare can cost you the cash.
- Carry less β you rarely need much cash. Compare the live rates on our table and use a card for larger spending.
