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5 Best Money Changers in Singapore for World Travelers: Unbeatable Rates for Your Currency Swap
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Overview of Top Money Changers in Singapore
As a resident of Singapore, I know how important it is for world travelers to find the most competitive money changers in Singapore.
Here, I’ll share some of Singapore’s top money changers.
The Arcade at Raffles Place
The Arcade at Raffles Place is probably Singapore’s most popular money-changing spot. Located in the central business district, it is home to multiple money changers, making it a go-to spot for various currencies.
The competitive rates offered here are for popular currencies such as USD, EUR, GBP, THB, TWD, JPY, and MYR. I highly recommend visiting The Arcade if you want a central location and better exchange rates.
Lucky Plaza at Orchard Road
Lucky Plaza on Orchard Road is another excellent place to exchange money, especially for travelers seeking PHP, THB, and MYR.
The area is a busy shopping district, so you can also explore the vibrant street life and shopping centers while exchanging your money.
People’s Park Complex in Chinatown
People’s Park Complex in Chinatown is an excellent option for those looking to exchange money and enjoy an authentic Asian experience.
The area hosts various local shops, eateries, and markets where you can immerse yourself in Singapore’s rich culture.
The money changers here offer reliable services and competitive rates, making it a viable option for your currency exchange needs.
In Chinatown, Singapore, some of the best money changers that are known for their competitive rates are:
Crante Money Changer – Located in People’s Park Complex.
Today’s Money Exchange is also situated in the People’s Park Complex.
Emerald Money Changer – Another option within People’s Park Complex.
AK Money Changer – Found in the same vicinity, at People’s Park Complex.
Sarmus Exchange (Chinatown) – Known for good service and rates in Chinatown.
Parkway Parade at East Coast
Lastly, Parkway Parade is a notable money changer destination in the East Coast area.
What makes this one stand out is the convenience for travelers staying nearby.
You can find homey eateries and trendy boutiques, allowing you to experience a more relaxed side of Singapore.
The money changers here tend to have decent rates, so you won’t feel like you’re missing out on better deals.
✅ Don’t exchange your money too much; read the guide below before you proceed 👇 :
Comparing Competitive Exchange Rates
Identifying the Best Rates
As a Singapore resident, I always prioritize finding the most competitive exchange rates whenever I travel. I usually start by comparing the rates of various local money changers in Singapore.
Some popular places to get the most competitive rates in Singapore include The Arcade at Raffles Place, Lucky Plaza, and Mustafa Centre.
Here’s a quick comparison table of these popular money changers in Singapore:
| Money Changer | Location | Best For |
|---|---|---|
| JC Global | The Arcade, Raffles Place | Major currencies (USD, GBP, EUR, AUD, SGD) |
| AJS Foreign Exchange | Lucky Plaza, Orchard Road | Malaysian Ringgit, Thai Baht, Indonesian Rupiah, Hong Kong Dollar |
| Mustafa Centre | Little India | South Asian currencies, 24-hour service |
Remember to regularly check the rates at these money changers in Singapore, as they may have daily deals that save you even more.
Strategies for Exchanging Currencies
As a travel blogger and local Singaporean, I’ve had my fair share of experiences exchanging money, and I’m happy to share some of my best strategies with you here.
Bargaining with Money Changers
In my experience, bargaining with money changers can lead to better exchange rates, especially when dealing with more significant amounts of cash.
It doesn’t hurt to give it a try! Here are some steps I suggest:
- Research the current market rate for the currency you want to exchange.
- Visit multiple money changers in Singapore to compare their rates.
- Politely ask if they can offer a better rate, especially if you find a more competitive rate elsewhere.
- If possible, bring a local friend with you. They may have more success with bargaining because they are familiar with the language and culture.
Using Currency Converter Apps
Another helpful strategy is using currency converter apps. These can assist you by providing accurate exchange rates and helping to ensure the money changers are giving you a fair deal.
Some popular apps include Wise, XE Currency, and OANDA.
I recommend using converter apps in the following ways:
- Before your trip: Get familiar with the exchange rates and determine how much cash you’ll need in the local currency.
- During your trip: Use the app to double-check the exchange rates money changers offer.
- When making payments abroad: If you need to make electronic payments, such as wire transfers or card transactions, consider utilizing apps like Wise, which offer competitive rates and low fees.
Convenience and Accessibility
Airport and Central Business District
When it comes to exchanging money in Singapore, convenience is key. As a world traveler and resident, I can confidently say that Changi Airport and the Central Business District (CBD) are two of the most convenient places for currency exchange.
Several money changers are available at Changi Airport, making it easy for travelers to exchange their money upon arrival.
Although the rates might be slightly less competitive than in the city center, the convenience of exchanging money right after landing can’t be underestimated.
In the CBD, you’ll find numerous money changers in Singapore with competitive rates, especially at The Arcade, in Raffles Place.
This spot is well-known among Singaporeans for having some of the best rates in town.
Aside from The Arcade, Lucky Plaza and Mustafa Centre are two other locations that offer great rates.
As both locals and tourists frequent these areas, you can be sure to find a wide range of currencies available for exchange.
Online Money Changers and Apps
Another important aspect of convenience and accessibility when exchanging money in Singapore is the availability of online money changers and apps.
In recent years, there has been a significant shift towards digital platforms for currency exchange, making it even easier for travelers to get the best rates possible.
One of the popular options available in the market is Google. Its currency converter tool allows you to compare rates from various providers from the comfort of your smartphone.
Furthermore, apps such as Revolut offer competitive exchange rates and allow fee-free ATM withdrawals overseas.
Here’s a table of some popular online money changers in Singapore and apps available in Singapore:
| Platform | Key Features |
|---|---|
| Revolut | Competitive exchange rates, fee-free ATM withdrawals, multi-currency account |
| Wise | Low-cost international money transfers, competitive exchange rates |
Frequently Asked Questions
Which money changer in Singapore offers the most competitive rates?
In my experience, The Arcade at Raffles Place is known to offer some of the most competitive exchange rates in Singapore. This place has multiple money changers with competitive rates for various currencies.
Where in Singapore can I find the best exchange rates for US dollars?
To exchange US dollars, I recommend money changers at The Arcade at Raffles Place.
This location has several money changers with competitive rates, making it easier for travelers to compare and choose the best option.
Additionally, the Mustafa Centre is another good option for exchanging US dollars.
What are the top-rated money changers in Singapore for exchanging ringgit?
For exchanging Malaysian ringgit, check out Lucky Plaza on Orchard Road. Many travelers consider it the best place in Singapore to do so.
Other options include The Arcade at Raffles Place and Mustafa Centre.
Where might I find a good money changer near Tampines or Changi Airport?
If you are in Tampines, you can check out money changers at Tampines Mall or Tampines 1.
Parkway Parade is another recommended location for money changers if you’re in the Eastern part of Singapore.
You can find money changers with competitive rates for popular currencies in these locations.
