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Is there a legal limit I can pay in coins? Can a shop refuse coins for payment?

Only banknotes and coins issued by Bank Negara Malaysia (BNM) are legal tender (i.e. can be used legally in Malaysia).

The banknotes and coins must not be defaced for it to be legal tender.

In the case of coins, there are limits to which you can use them to make payments.

The table below indicates the maximum limits that you can use coins to make payments.
Denomination Legal Tender Status
Coins exceeding RM1 (e.g. commemorative coins) Any amount based on the face value of the coin
50 sen and RM1 coins Up to RM10.00
Coins less than 50 sen Up to RM2.00


However, there is no limit in using banknotes to make payments.
There are

limits

to which you can use coins to make payments.


Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)


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Knowledge Base ID :   1463
Last Reviewed :   May 19, 2014
Source :   BankingInfo
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