Looking for the best exchange rate in Singapore? Finding the right money changer can save you significant money. Whether for a vacation, sending money abroad, or managing investments, getting the best rates is crucial.
This article will guide you to the best places for money exchange in Singapore, ensuring maximum value. Plus, we’ll provide tips to secure the best rates and highlight reliable money changers to avoid scams.
Top Money Changers in Singapore
Finding the best money changers in Singapore can ensure you get the most value for your currency. Here, we highlight some of the top-rated money changers known for their competitive rates, excellent service, and convenient locations.
|
Money Changer |
Best For |
Currency Exchange Services |
Opening Hours |
|
The Arcade at Raffles Place |
Comparing rates among multiple money changers |
MYR, USD, THB, TWD, RMB, HKD, JPY, KRW, EUR, GBP, AUD, NZD, IDR, PHP, VND, INR, CHF, CAD |
Mon-Fri 10am-6pm, Closed on weekends |
|
Mustafa Centre |
Extensive currency selection and late-night exchanges |
MYR, USD, THB, TWD, RMB, HKD, JPY, KRW, EUR, GBP, AUD, NZD, IDR, PHP, INR, CHF, CAD, Bahrain Dinar, Pakistani Rupee, Sri Lanka Rupee, Jordanian Dinar, South Africa Rand, Danish Kroner, Norwegian Kroner, Bangladesh Taka, Mauritius RPS |
Daily 10am-11pm |
|
Lucky Plaza |
Exchanging Philippine Peso, Thai Baht, and Malaysian Ringgit |
PHP, MYR, IDR, INR, THB |
Varied opening hours per location |
|
People’s Park Complex |
Comparing rates among multiple money changers |
CNY, HKD, MYR, PHP |
Daily 9am-9pm |
|
Yakadir Money Changer |
Rare currencies and transparent service |
15 currencies including, CNY, MYR, EUR, AUD, THB, GBP, PHP, USD |
Daily 10am-8:30pm |
|
Thin Margin |
Online currency exchange with doorstep delivery |
AUD, CNY, EUR, HKD, IDR, MYR, NOK, PHP, SEK, KRW, THB, USD, CAD, DKK, GBP, INR, JPY, TWD, NZD, RUB, ZR, CHF, TRY, VND |
Open 24 hours daily |
1. The Arcade at Raffles Place
Arcade Money Changers is a reliable money changer in Singapore that offers a wide range of currency choices with the best rates. Located in The Arcade near Raffles Place MRT Station, this money changer is well-known among office workers. Because of that, the place is often packed during peak hours so it is suggested that one plans a visit in the morning or after 2 pm.
If you’re afraid that the type of money that you need is sold out at The Arcade, you can head straight to their website page where you can do an online booking and receive a reply within 30 minutes during The Arcade’s business hours.
You can trust The Arcade’s Forex services because they’ve been at it for 40 years. They can offer their well-known low exchange rates to customers because they buy currencies in bulk.
Furthermore, upon confirming your currency order, the exchange rate during the time is preserved until the next working day.
- Best Rates For: US Dollar, Euro, Japanese Yen, British Pound Sterling, Malaysian Ringgit, Thai Baht, and New Taiwan Dollar.
- Money Exchange Services: MYR, USD, THB, TWD, RMB, HKD, JPY, KRW, EUR, GBP, AUD, NZD, IDR, PHP, VND, INR, CHF, CAD
Why Choose The Arcade
- Competitive Exchange Rates: With many money changers in one location, you can easily compare rates to find the best deal.
- Convenient Location: Situated in the CBD, it’s perfect for professionals and tourists alike.
- Real-Time Rates: Electronic display boards show current exchange rates, ensuring transparency and ease of comparison.
Contact Information
- Website: https://arcademoneychangers.com.sg/
- Contact Info: +65 6223 0702
- Address: 11 Collyer Quay, Singapore 049317
- Hours: Mon-Fri 10am-6pm | Closed on weekends
Reviews: 4.1 stars | 339 Google Reviews
“Conveniently located within the center area of Raffles Place, the Arcade is an office building with 2 floors of retail on levels 1 & 2. It is the go-to place for changing money (many money changers to choose from) and has some good F&B too.” – Wara A.
2. Mustafa Foreign Exchange
Located in the Mustafa Center, Mustafa Foreign Exchange is one of the few money changers in Singapore that opens its business for 24 hours. So, if you have a last-minute plan for a trip or you had no time to stop by during the day, feel free to give them a visit any time of the day, even after a late night supper.
The best thing about Mustafa Forex – if you notice a slight but profit-maximizing change in the current exchange rates, you can take advantage of the situation to make more profits. Every foreign exchange rate broker knows that the money’s’ exchange rates keep on moving because it takes no weekends.
Furthermore, Mustafa Forex buys its currencies in bulk. In doing this, Mustafa can offer the lowest rate exchange when it comes to purchasing foreign currencies too.
- Best Rates For: Chinese Yuan, Philippine Peso, Hongkong Dollar, Malaysian Ringgit, Indonesian Rupee, and Indian Rupee
- Money Exchange Services: MYR, USD, THB, TWD, RMB, HKD, JPY, KRW, EUR, GBP, AUD, NZD, IDR, PHP, INR, CHF, CAD, Bahrain Dinar, Pakistani Rupee, Sri Lanka Rupee, Jordanian Dinar, South Africa Rand, Danish Kroner, Norwegian Kroner, Bangladesh Taka, Mauritius RPS.
Why Choose Mustafa Foreign Exchange
- Extended Hours: Open until 11pm, ideal for late-night exchanges.
- Wide Currency Selection: Offers diverse currencies, including Bahrain Dinar and Pakistani Rupee.
- Competitive Rates: Known for some of the best rates in Singapore, with opportunities to bargain so you can try your luck at haggling.
Contact Information
- Website: http://cashchanger.co/singapore/mc/mustafa-foreign-exchange/1
- Contact Info: +65 6292 9252
- Address: 145 Syed Alwi Rd, Level 1, Singapore 207704
- Hours: Daily 10am-11pm
Reviews: 3.8 stars | 115 Google Reviews
“Very good money exchange house located within Mustafa Center in Little India. It’s on ground floor adjacent to main entrance of the Mall. I got value for exchange more than my expectation.” – Lakshman S
3. Lucky Plaza
Lucky Plaza, located on Orchard Road, is a bustling hub for money exchange services in Singapore. It offers a variety of currencies including Philippine Pesos, US Dollars, Australian Dollars, Chinese Renminbi, and British Pounds. Most money changers are conveniently situated on B1 and Level 1, making it easy to find competitive rates.
As rates fluctuate daily, it’s crucial to compare the rates offered by different money changers. Not all changers display their rates, so be sure to ask and compare carefully to get the best deal.
- Best Rates For: Philippine Peso, Thailand Baht, and Malaysian Ringgit.
- Money Exchange Services: PHP, MYR, IDR, INR, THB
Why Choose Lucky Plaza
- Wide Range of Currencies: Offers both regional and major global currencies.
- Convenient Location: Situated in the heart of Orchard Road’s shopping district.
- Multiple Services: Access to a variety of stores, food outlets, and other services in the same building.
Popular Money Changers at the Lucky Plaza:
|
Money Changer |
Unit No. |
Money Exchange Services |
Website |
Contact No. |
Opening/Closing Hours |
|
Rabi Trading |
#01-37 |
PHP, MYR, IDR, INR, THB |
Daily 9am-7pm |
||
|
Rahiman Trading |
#B1-10 |
Daily (except Fridays) 10am-8pm | Fri 10am-12:30pm; 2:30pm- 8PM |
|||
|
Fajar Money Changer |
#01-82 |
http://www.luckyplaza.com.sg/directory/fajar-store-money-changer/ |
Mon-Sat 10am-7pm (Closed on Sundays) |
Contact Information
- Address: 304 Orchard Rd, Lucky Plaza, Singapore 238863
- Hours: Varied opening hours per location
Reviews: 5 stars | 20 Google Reviews (Rabi Trading)
“Good, fast and efficient service from this money changer. “ – Tan Jane
4. People’s Park Complex Chinatown
People’s Park Complex in Chinatown is a prime location for currency exchange in Singapore. It features numerous money changers, allowing visitors to easily compare rates and secure the best deals. Located centrally in Chinatown, it offers competitive rates for Chinese Renminbi, Hong Kong Dollar, and various Southeast Asian currencies.
Money changers at People’s Park Complex operate mostly on Level 1, with some open until 9 or 10 pm. This makes it a convenient option for currency exchange, especially if you miss the operating hours of other popular locations.
- Best Rates For: Chinese Yuan, Philippine Peso, Thai Baht, Hong Kong Dollar, and Malaysian Ringgit
- Money Exchange Services: CNY, HKD, MYR, PHP
Why Choose People’s Park Complex
- Competitive Rates: Offers excellent rates for regional currencies like MYR, CNY, and HKD.
- Convenient Hours: Many money changers are open late, providing flexibility for last-minute exchanges.
- Central Location: Situated in the heart of Chinatown, making it accessible for both tourists and locals.
Popular Money Changers at the People’s Park Complex Chinatown:
|
Money Changer |
Unit No. |
Money Exchange Services |
Website |
Contact No. |
Opening/Closing Hours |
|
Crante Money Changer |
#01-28 |
CNY, HKD, MYR, PHP |
Daily 9am-9pm |
||
|
AK Money Changer |
#01-K95C |
Daily 9am-9pm |
Contact Information
- Address: 1 Park Rd, Singapore 059108
- Hours: Daily 9am-9pm
Reviews: 2.9 stars | 89 Google Reviews (Crante Money Changer)
“The exchange rate for Euros was the same as google’s exchange rate which left me a bit stunned. Excited to have found this gem and I hope they offer consistently good rates in future as well!” – Vera C
5. Yakadir Money Changer
Yakadir Pte Ltd is an established money changer that is trusted by many. They are located near to the Katong Shopping Center and also has a website page of their own. Prior to going to their place, it’s best that you go on their website first to check on the competitive rates they are offering.
This renowned money changer is well-known for its regulated and transparent practices and fare rates. Yakadir has been exchanging money since 1981. Their decades of experience show how much and how well they’ve improved their money-lending services. In addition, they provide excellent remittance services with rates that the MAS authorizes and regulates.
- Best Rates For: Chinese Yuan, Thai Baht, Philippine Peso, and Malaysian Ringgit
- Money Exchange Services: 15 currencies including, CNY, MYR, EUR, AUD, THB, GBP, PHP, USD
Why Choose Yakadir Money Changer & Remittances
- Rare Currencies Available: Offers rarer currencies like Papua New Guinea Kina and Saudi Riyal.
- Convenient Hours: Open daily from 10:15 am to 6:30 pm, accommodating various schedules.
- Reliable Service: Known for dependable and efficient currency exchange services.
Contact Information
- Website: https://yakadir.com/
- Contact Info: +65 6344 9652
- Address: 80 Marine Parade Road #01-16B, Parkway Parade Singapore – 449269
- Hours: Daily 10am-8:30pm
Reviews: 5 stars | 3 Google Reviews
“Good service and best rates… One of the bestest money changer in Singapore.. the staffs also very humble and friendly” – KR Pandi
6. Thin Margin
Thin Margin is Singapore’s first 24/7 online money-changer. They run their business solely online to cater to those who would like to avoid the sticky process you usually have to go through at a typical money changer. What you simply need to do to use their service is by firstly making your order on their website, choose the date and time you would like them to deliver the cash, and pay through online banking. In the case of the rates they offer, they claimed it to be similar to the money changers in Raffles Place, but better and with the bonus of a delivery.
In addition, you can pay using their online facilities securely too. You won’t need to withdraw money from the ATM — just head directly to their website and use your credit cards. Don’t worry, their payment facilities are fully secure as well. And, you can lock-in the daily rates too.
Rate Alert is one of the best and most notable features that Thin Margin provides its customers. Just like a daily newsletter, you can learn all about a currency’s exchange rate changes daily or weekly. In fact, it can alert you of any dips or heights once the figures reach your indicated exchange rate too!
Thin Margin allows you to receive money exchange straight into your foreign currency bank account if you have one.
- Best Rates For: Scandinavian Krones, Russian Rubles, Malaysian Ringgit,
- Money Exchange Services: AUD, CNY, EUR, HKD, IDR, MYR, NOK, PHP, SEK, KRW, THB, USD, CAD, DKK, GBP, INR, JPY, TWD, NZD, RUB, ZR, CHF, TRY, VND
Why Choose Thin Margin
- 24/7 Online Convenience: Operates solely online, allowing you to order currency anytime, avoid queues, and have cash delivered to your doorstep.
- Secure Transactions: Pay securely using online banking or credit cards, with the added benefit of locking in daily rates.
- Rate Alerts: Receive daily or weekly updates on exchange rate changes and alerts when your preferred rates are reached.
Contact Information
- Website: https://www.thinmargin.com/
- Contact Info: +65 8895 9086
- Hours: Open 24 hours daily
Reviews: 4.9 stars | 354 Google Reviews
“Extremely reliable service that delivered my exchanged money on time. I had doubts initially about whether to trust such money delivery services, but these doubts were cleared by the professionalism and transparency of the service provided.” – Dylan Lee
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Tips for Getting the Best Exchange Rates
Getting the best exchange rates can save you significant money when traveling or making international transactions. Follow these simple tips to ensure you maximize the value of your currency exchange.
- Timing Your Exchange: Exchange rates fluctuate daily, so timing your exchange can make a significant difference. Monitor the rates and exchange your currency when the rates are most favorable.
- Comparing Rates Online Before Heading Out: Use online comparison tools and websites to check the latest rates from various money changers. This helps you find the best deals without having to visit multiple locations.
- Avoiding Airport Exchanges and Other High-Fee Locations: Airport money changers and hotels typically offer less favorable rates due to higher fees. Plan ahead and exchange your currency at reputable money changers in the city to avoid these high-fee locations.
Safety Tips for Handling Money
Handling money safely while traveling is crucial to avoid theft and loss. These safety tips will help you protect your cash and ensure a secure and worry-free experience. Stay vigilant and follow these best practices to keep your money safe.
- Be Discreet: Avoid displaying large amounts of cash in public. Count your money in a private area and be discreet when handling it to avoid attracting unwanted attention.
- Use a Money Belt or Hidden Pouch: Keep large amounts of cash in a money belt or hidden pouch under your clothing. This reduces the risk of theft and keeps your money secure.
- Separate Your Money: Divide your cash into different pockets or bags. This way, if you lose one stash or it gets stolen, you still have backup funds.
- Stay Vigilant in Crowded Areas: Be particularly cautious in crowded places like markets, public transport, and tourist attractions, where pickpockets are more active. Stay aware of your surroundings and keep your belongings close.
- Opt for Digital Transactions: Whenever possible, use digital payment methods like credit cards, mobile payments, or online transfers. This reduces the need to carry large amounts of cash and enhances security.
- Deal with Licensed and Regulated Establishments: Experts at Moneysense strongly encourage you to deal with people regulated by the Monetary Authority of Singapore (MAS) to avoid scams. Knowledge of local scams can help you stay one step ahead of fraudsters.
Closing
Finding the best money changer in Singapore involves comparing rates, considering the convenience of locations, and ensuring security. This guide highlights top money changers such as The Arcade, Mustafa Centre, and Thin Margin, each offering unique advantages. By following our tips and choosing reputable money changers, you can maximize your savings and ensure a smooth currency exchange experience.
Key takeaways:
- Exchange rates vary; compare online and visit multiple locations to get the best deal.
- Opt for popular money changers in the city like The Arcade or Mustafa Centre, where competitive rates and extended hours offer more convenience.
- Exchange money with reputable, MAS-regulated money changers to avoid scams and ensure transparent pricing.
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