Are you planning a trip to Singapore and need to exchange currency? Look no further! In this article, we will share with you the best money changers in Singapore to ensure you get the most out of your money exchange.
Why Singapore for Currency Exchange? Singapore is a financial hub in Southeast Asia, making it an ideal destination for currency exchange. With a stable economy and a highly regulated financial sector, you can be sure that you are getting a fair exchange rate. Additionally, Singapore is home to many money changers, so you have a wide variety of options to choose from.
Top Money Changers in Singapore. We have done the research for you and compiled a list of the top money changers in Singapore. Our list includes money changers located in popular shopping areas such as Lucky Plaza and Mustafa Centre, as well as specialized currency services such as Raffles Money Change and Arcade Plaza. We have also included information on the convenience factors of each money changer, such as operating hours and location.
Key Takeaways
- Singapore is an ideal destination for currency exchange due to its stable economy and highly regulated financial sector.
- Our list of the top money changers in Singapore includes options located in popular shopping areas and specialized currency services.
- When engaging with money changers, it is important to consider factors such as convenience and exchange rates.
Why Singapore for Currency Exchange?
If you’re travelling to Singapore, you’ll need to exchange your currency for Singapore Dollars (SGD). Singapore is known for its many money changers, so you’ll have plenty of options. But why should you exchange your money in Singapore? Here are a few reasons:
Economic Stability
Singapore is known for its economic stability. The country has a strong and stable economy, which means that the exchange rates are generally stable as well. This is good news for anyone who wants to exchange their currency in Singapore. You can be confident that you’re getting a fair exchange rate, and you won’t have to worry about sudden fluctuations in the exchange rate.
Diverse Currency Offerings
When it comes to currency exchange, Singapore is known for its diverse currency offerings. You can easily exchange currencies such as GBP, JPY, USD, EUR, TWD, THB, MYR, CNY, HKD, PHP, IND, INR, RMB, NZD, AUD, and KRW at various money changers throughout the city. This makes it easy for travellers from all over the world to exchange their currency in Singapore.
In addition, many money changers in Singapore offer competitive exchange rates, so you can be sure that you’re getting a good deal. Some money changers even offer online exchange services, which can be a convenient option if you don’t want to carry cash around with you.
Overall, Singapore is a great place to exchange your currency. With its economic stability and diverse currency offerings, you can be confident that you’re getting a fair exchange rate. So if you’re travelling to Singapore, be sure to check out the many money changers throughout the city.
Top Money Changers in Singapore
If you’re planning a trip to Singapore, you’ll want to make sure you have some local currency on hand. Finding the best money changer can be a daunting task, but we’ve got you covered. Here are some of the top money changers in Singapore that you should consider.
The Arcade at Raffles Place
Located in the heart of Singapore’s financial district, The Arcade at Raffles Place is home to some of the best money changers in the city. With multiple currency exchange options available, you can easily compare rates and find the best deal. Some of the popular money changers at The Arcade include Arcade Money Changers and S&C Xchange. You can book currency exchange online and collect in person, making it a convenient option for travellers.
Mustafa Centre
If you’re looking for a 24-hour money changer, Mustafa Centre is the place to go. This massive shopping complex in Little India is open around the clock, so you can exchange your currency at any time of the day or night. Mustafa Centre offers competitive exchange rates and a wide range of currencies, making it a popular choice for tourists and locals alike.
Lucky Plaza
Lucky Plaza is another popular shopping mall in Singapore that is known for its money changers. With over 100 money changers to choose from, you’re sure to find a good deal. Lucky Plaza is located on Orchard Road, one of Singapore’s most famous shopping streets, so you can combine your currency exchange with some retail therapy.
People’s Park Complex
People’s Park Complex is located in the heart of Chinatown and is a great place to exchange your currency. With a wide range of money changers to choose from, you can easily compare rates and find the best deal. People’s Park Complex is also home to a number of shops and restaurants, making it a great place to spend an afternoon.
Parkway Parade
If you’re staying in the Marine Parade Road area, Parkway Parade is a convenient place to exchange your currency. This shopping mall offers a range of money changers, so you can compare rates and find the best deal. Parkway Parade is also home to a variety of shops and restaurants, so you can make a day of it.
Overall, Singapore has a wide range of money changers to choose from, so you’re sure to find a good deal. Whether you’re in the financial district, shopping on Orchard Road, or exploring Chinatown, you’ll find a money changer that suits your needs.
Getting the Best Exchange Rates
When it comes to exchanging currencies, getting the best exchange rates can save you a significant amount of money. Here are some strategies you can use to get the best exchange rates in Singapore.
Rate Comparison Strategies
One of the most effective ways to get the best exchange rates is by comparing rates offered by different money changers. You can do this by visiting multiple money changers and comparing their rates for the currency you want to exchange. Alternatively, you can use online comparison tools to compare rates offered by different money changers in Singapore. By doing this, you can identify the money changers that offer the most competitive rates and get the best deal for your money.
Timing Your Exchange
The timing of your currency exchange can also affect the exchange rates you get. Exchange rates fluctuate throughout the day, and some money changers may offer better rates during certain times of the day. For example, some money changers may offer better rates in the morning when the markets open. Keeping an eye on the exchange rates and timing your exchange accordingly can help you get the best rates.
Bargaining Techniques
Another way to get the best exchange rates is by bargaining with the money changer. While not all money changers may be open to bargaining, some may be willing to negotiate the exchange rate with you. To increase your chances of success, you can try to negotiate a better rate by exchanging larger amounts of money. Additionally, if you have a good relationship with a particular money changer, you may be able to negotiate a better rate.
Overall, getting the best exchange rates in Singapore requires some research, timing, and bargaining skills. By following the strategies outlined above, you can increase your chances of getting the most competitive rates for your currency exchange.
Specialised Currency Services
If you need specialised currency services, Singapore has got you covered. Whether you’re looking for remittance services, multi-currency accounts, or digital wallet integration, there are options available to you.
Remittance Services
If you need to send money overseas, there are several remittance services available in Singapore. Cashchanger [1] is a platform that allows you to compare rates from different money changers and remittance services. Wise [2] is another option that provides low-cost, fast, and transparent international money transfers.
Multi-Currency Accounts
A multi-currency account is a bank account that allows you to hold and manage multiple currencies. This is useful if you frequently deal with foreign currencies and want to avoid currency conversion fees. Wise [2] offers a multi-currency account that allows you to hold and manage over 50 currencies.
Digital Wallet Integration
Digital wallets are becoming increasingly popular, and many of them offer integration with foreign currencies. Revolut [3] is a digital wallet that allows you to hold and exchange 28 currencies. You can also spend in over 150 currencies at the interbank exchange rate.
Overall, Singapore has a range of specialised currency services available to you. Whether you need to send money overseas, manage multiple currencies, or use digital wallets, there are options available to suit your needs.
Convenience Factors
When it comes to changing your money, convenience is key. Luckily, there are plenty of options in Singapore that cater to your needs, no matter what time of day it is. Here are some of the most convenient factors to consider when looking for a money changer.
Locations Open Late
If you’re a night owl, or just need to exchange currency after hours, there are several money changers in Singapore that are open late. Lucky Plaza is one such location, with a variety of money changers open until as late as 9 or 10pm. The Arcade is another great option, with many money changers open until 8 or 9pm. Both of these locations also offer a wide variety of currencies, making it easy to exchange money no matter where you’re travelling.
24/7 Money Changers
If you need to exchange currency outside of regular business hours, there are a few money changers in Singapore that are open 24/7. One such option is the 24-hour Mustafa Centre, which is located in Little India and offers a wide variety of currencies. Another option is the 24-hour currency exchange kiosk at Changi Airport, which is open every day of the year and offers competitive rates.
Accessibility by Public Transport
If you’re relying on public transport to get around Singapore, it’s important to choose a money changer that is easily accessible. One great option is the Raffles Place MRT station, which is located in the heart of Singapore’s financial district and offers several money changers within walking distance. The Chinatown MRT station is another convenient option, with several money changers located nearby. Just be sure to check their opening hours before you make the trip.
Overall, there are plenty of convenient options when it comes to changing your money in Singapore. Whether you need to exchange currency late at night, outside of regular business hours, or are relying on public transport to get around, there are plenty of options to choose from.
Money Changer Recommendations
If you are travelling to Singapore, you will need to exchange your currency to Singapore Dollars (SGD). Singapore has many money changers, but not all of them offer the best rates or have a good reputation. Here are some recommendations for money changers in Singapore based on your needs.
For Asian Currencies
If you are looking to exchange Asian currencies, we recommend visiting the Mustafa Centre in Little India. They offer competitive rates for South Asian currencies such as INR, THB, and MYR. Another option is the Arcade Money Changers in Raffles Place, which offers competitive rates for many Asian currencies including JPY, CNY, and HKD.
For Major Western Currencies
If you need to exchange major Western currencies such as USD, EUR, and GBP, we recommend visiting The Arcade Money Changers. They are known to offer some of the best rates in Singapore for these currencies. Alternatively, you can visit the Parkway Parade Money Changers, which is a popular option for those living in the Eastern part of Singapore.
For Travellers and Expats
If you are a traveller or an expat in Singapore, we recommend using the services of Thin Margin. They offer competitive rates for many currencies and provide a convenient online platform for exchanging currency. This is a great option for those who prefer to exchange their currency before arriving in Singapore or for those who want to avoid the hassle of visiting a physical money changer.
When exchanging currency, it’s important to keep in mind that rates can vary depending on the amount you are exchanging and the currency you are exchanging. Always check the rates before making a transaction and compare them with other money changers to ensure you are getting the best deal.
In general, it’s recommended to exchange your currency at a licensed money changer in Singapore to ensure you are getting a fair rate. Family and friends can also be a good source of information for recommended money changers in Singapore.
Additional Services and Features
When choosing a money changer in Singapore, you want to look for one that offers more than just competitive exchange rates. Here are some additional services and features to consider:
Currency Converter Tools
A good money changer should provide you with a currency converter tool on their website or mobile app. This tool will allow you to check the exchange rates for different currencies before you even step into the money changer’s store. This can save you time and help you make informed decisions about when to exchange your money.
Cash and Card Options
The best money changers in Singapore will offer both cash and card options. If you prefer to use cash, look for a money changer that offers a wide range of currencies, including exotic ones. If you prefer to use a card, look for a money changer that accepts popular cards like Mastercard.
Customer Service Excellence
Finally, look for a money changer that offers excellent customer service. The staff should be friendly, knowledgeable, and able to answer any questions you may have. They should also be able to help you with any issues you may encounter during the exchange process.
In summary, when choosing a money changer in Singapore, look for one that offers a currency converter tool, both cash and card options, and excellent customer service. By doing so, you can ensure that you get the best exchange rates and have a hassle-free experience.
Engaging with Money Changers
When it comes to exchanging money, there are various ways you can engage with money changers. Here are some ways you can do so:
In-Person Experience
If you prefer the traditional way of exchanging money, you can visit a money changer in person. This way, you can physically see and handle the cash, and also negotiate the exchange rate. Some popular money changers in Singapore include Bargain City Money Changer and Arcade Money Changers. However, keep in mind that you may need to queue and wait for your turn, and some money changers may not be open 24/7.
Online Platforms and Apps
Alternatively, you can use online platforms and apps to exchange money. Cashchanger.co and TransferWise are popular online platforms that allow you to compare exchange rates and fees from different money changers. Some apps, such as the DBS Multi-Currency Account app, also offer competitive exchange rates and the convenience of exchanging money on-the-go.
Community and Reviews
Another way to engage with money changers is through community and reviews. Joining forums and Facebook groups related to money exchange can provide you with valuable insights and recommendations from other users. You can also subscribe to newsletters from money changers or follow them on social media platforms such as Instagram and Facebook to stay updated on their latest promotions and exchange rates.
Overall, there are various ways you can engage with money changers in Singapore. Whether you prefer the in-person experience, online platforms and apps, or community and reviews, it’s important to do your research and compare exchange rates and fees before making a decision.
Frequently Asked Questions
Where can I find the most favourable currency exchange rates in Singapore?
Singapore has a plethora of money changers, and some of them offer better rates than others. To find the most favourable currency exchange rates in Singapore, you should head to The Arcade, which is located in the heart of the city. The Arcade is home to multiple money changers that offer competitive rates for a wide range of currencies, including USD, EUR, GBP, THB, TWD, JPY, and MYR.
Which money changer in Singapore offers the best rates for US dollars?
If you’re looking for a money changer in Singapore that offers the best rates for US dollars, we recommend checking out the Mustafa Centre. This 24-hour shopping mall is home to several money changers that offer some of the best rates in the city for a wide range of currencies, including US dollars.
Can you recommend a top-rated money changer in Singapore for Malaysian ringgit?
Yes, we can! If you’re looking for a top-rated money changer in Singapore for Malaysian ringgit, we recommend checking out the Raffles Money Change outlet at Raffles Place. This money changer is known for offering some of the best rates in the city for Malaysian ringgit, as well as a wide range of other currencies.
I’m looking for a reliable currency exchange for Korean won in Singapore; any suggestions?
If you’re looking for a reliable currency exchange for Korean won in Singapore, we recommend checking out the money changers at Lucky Plaza. Lucky Plaza is known for its great rates for a wide range of currencies, including Korean won.
What’s the ideal day to get the best exchange rates at Singaporean money changers?
The ideal day to get the best exchange rates at Singaporean money changers is on weekdays, preferably in the morning. This is because money changers tend to offer better rates when they have more cash on hand, which is usually the case on weekdays.
Could you point me to a money changer in Chinatown with competitive rates?
Yes, we can! If you’re looking for a money changer in Chinatown with competitive rates, we recommend checking out the People’s Park Complex. This shopping mall is home to several money changers that offer great rates for a wide range of currencies.
