New Research from Wise Reveals A Smart Way to Save When Booking Flights

Book flights in the origin’s currency and save up to MYR431—enough for a staycation or an epic durian feast!

Kuala Lumpur, 10 December 2024 — Wise, a global technology company building the best way to move and manage the world’s money, has dropped a game-changing tip for Malaysian jet-setters: pay for flights in the flight origin’s currency instead of your home currency. 

Imagine this: you’re booking a Malaysian Airlines flight from London to Kuala Lumpur. If you pay in British Pounds (GBP 1,054.39), it’s equivalent to approximately MYR 6,050.66 when converted at the mid-market exchange rate.^[1] But if you pay for the same flight in Malaysian Ringgit through Malaysian Airlines, you’ll be charged MYR 6,482.59 – a whopping MYR 431.93 difference (equivalent to 7.14% of the fare) just from hidden currency conversion fees! That’s enough to pay for a staycation or an epic Musang King feast. 

Malaysians, Here’s How to Dodge Hidden Currency Conversion Fees:

Avoiding these currency conversion fees is easier than choosing your next meal. Follow these three simple steps to save more on your travels:

• Pay in the origin’s currency: Always choose to pay in the currency of the country you’re travelling from.

• Check exchange rates: Be mindful of exchange rates and compare them with the mid-market rate (available on Wise or Reuters) to make informed decisions.

• Know your card’s fees: Review your card issuer’s foreign transaction fees to understand the real costs before swiping.

By following these tips, Malaysians can avoid unnecessary fees and make their travel budgets go further—leaving more to spend on shopping, food, and unforgettable experiences. For frequent travellers, these fees can quickly add up, resulting in hundreds or thousands of ringgit lost over multiple trips.

Here’s How Malaysians Can Stretch Every Sen:

Choosing the flight origin’s currency at checkout can have a big impact, especially with living costs rising faster than durian prices in peak season.

• Flying Paris to Kuala Lumpur with Japan Airlines? Paying in EUR instead of MYR can save you MYR 321.20—perfect for a shopping spree or a nice meal at an atas mall like Pavilion KL.

• Dubai to Kuala Lumpur with Emirates? Paying in AED instead of MYR can leave MYR 334.60 extra in your pocket.

Hidden Cost of Convenience

Research from Wise shows that many popular airlines for Malaysians — including homegrown carriers — often involve an additional 2.8% to 9.5% in currency conversion fees when paying in the home currency. These fees can quickly add up!

Breakdown of Price Differences by Airlines (Ouch!)

Comparison compiled by Wise showing average price differences in % when paying in the home currency (MYR) on airline websites, instead of the flight’s origin currency.  

With 80% of Malaysians planning to travel overseas, now is the time to make every ringgit count for a truly memorable trip. Whether you’re backpacking through Europe or embarking on a relaxing beach holiday in Phuket, this smart payment hack ensures you’re not paying extra on flights. 

So, channel your inner savvy traveller before your next booking. Say “no” to hidden fees and “yes” to more delicious makan sessions, stylish finds, or even an extra bucket of Korean fried chicken in Seoul.

Travel smart, save big, and enjoy more of what truly matters. Selamat bercuti!

Data methodology 

Data on flight prices were gathered from airline websites between 14th August and 18th August 2024 for roundtrip flights for one person travelling between 1st and 15th September. Each trip lasted at least four days, and routes were randomly selected from the airlines' available options, with a minimum of four routes per airline. Six airlines that offered the option to pay in different currencies were included in the research. 

For each route, prices were recorded in both the departure city's currency ("local currency") and the preferred currency ("home currency"). MYR was chosen as the preferred "home" currency. Local currency prices were converted to MYR using the mid-market exchange rate as of 23 August 2024.

The price difference was calculated by comparing the fare charged in MYR by the airline to the fare in local currency that was converted to MYR using the mid-market rate. If the MYR fare charged by the airline was higher, this difference was identified as a potential currency conversion fee.

[1] Based on the mid-market exchange rate as of 23 August 2024, in line with the flight research period