Singapore Money Changers

[davwen81]

Hi all,

hope you’re all enjoying your long weekend.

just wondering if anyone here has used a money changer in Singapore to get their overseas currencies, instead of using ones here.

Have been told the exchange rates are so much better than here with no charges. 

 

We did this in Indonesia and it worked a treat so just wondering if anyone has a good money changer they’d recommend,

many thanks for any help Wendy

[OzKiwiJJ]

I've usually found it works out cheaper to use local ATMs, especially if you have a debit card like the Citibank one which doesn't charge foreign transaction fees, and which has very competitive exchange rates.

[GCHAN]

I have used the Singapore money changers a number of times.

 

Have found they give excellent rates and are very easy to deal with.

[sailco]

Depends if you want Singapore dollars or some other currency. I notice you're on the  Singapore to Abu Dhabi cruise so you're most likely looking for Indian currency. Check the rates at home so you know what's available but street rates in India are above what you'll get anywhere. AED is a similar story. In my opinion Singapore has become a bit expensive as a money exchange and you need to shop around a bit. Takes time away from your travels.

[vozzie]

Singapore Money Changers are great. It's tightly regulated and you'll find they virtually all have the same rate, with no fees. One thing to be aware of...if you want to change AUD to, say, IDR...they will convert to SGD first...then convert the SGD to IDR.

[GCHAN]

4 hours ago, vozzie said:

Singapore Money Changers are great. It's tightly regulated and you'll find they virtually all have the same rate, with no fees. One thing to be aware of...if you want to change AUD to, say, IDR...they will convert to SGD first...then convert the SGD to IDR.

I agree. I have found the rates to be very good.

 

It is very easy as the rates are easy to see on a display board. Just make sure you are happy with the rates and then you can make the decision.

Edited January 29, 2019 by GCHAN

[Gwendy]

You’ll find one on in Singapore .  Know your conversion rates and what to expect, ask about feesand charges.  For the amount I need it is easier for me to get currency at home and take it with me.  Yes you can get Indian rupees in Australia, just check around.

[Obilix]

I travel to Singapore at least annually, and I change $AUD for both local currency and any other currency I need for onward or other travel there, and often change back currency I no longer need on a subsequent visit.

 

I take note of the bank exchange rate here in Australia for the currencies I need, and invariably get a better rate than that, without paying commissions. It helps to ask the exchange rate first, or ostensibly check it out on the signage board, before agreeing to the rate offered, as it can change minimally from trader to trader.

 

As my visits coincide with the Singapore cricket club Rugby Sevens on the Padang I usually stay in the Coleman street area which is close by. I use the the money changer under the Peninsula- Excelsior hotel (the one closest to Hill Street) as the one right next to it also trades in other goods, and I don't like the hassle and hustle.

 

Just be aware, and you will do better exchanging in Singapore where-ever you go.

 

It would pay to bring a small amount of Sing dollars from home though ($50 - 100), to pay for taxis, snacks drinks etc. on arrival. 

 

Money changers open 9 am or so until late pm in Singapore.

 

Exchange rates are slightly better on week days than Saturday or Sunday or public holidays. 

[davwen81]

Oblix, and all others, thank you so much for your help with this. I’ll definitely  buy there! 

[NSWP]

The money changers worldwide, including Singapore hang around tourist hotels for business, also they hang around money exchange bureaus offering 'the better rate sir.'     Beware the fake notes though, probably not in Singapore but certainly in South America and Central America.

Edited January 31, 2019 by NSWP