Best Money Changers in Singapore: Where to Get Top Rates

The Arcade at Raffles Place

The Arcade can be found at Raffles Place, which is known as the business center of Singapore. As such, the place has a lot of great money changers that features competitive rates for many currencies. 

There is also an electronic display board at The Arcade which shows the current exchange rates so that you can consult the exchange rate without having to consult the internet.

The staff at those exchange rates also possess excellent communication abilities, so that you will be able to transact without any problem due to misunderstandings.

• 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
• Address: 11 Collyer Quay, Singapore 049317
• Hours: Mon-Fri 10am-6pm | Closed on weekends

Reviews: 4.1 stars | 337 Google Reviews

“Famous for the many Money Chargers shop within this Shopping and office centre. Was told the exchange rate were much better over here.” – Hao Tan

Mustafa Centre

Mustafa Foreign Exchange, located in the bustling Mustafa Centre, is renowned for its competitive rates and extensive selection of currencies, including Bahrain Dinar and Pakistani Rupee. Open until 2 a.m., it provides convenience and flexibility for late-night transactions.

On Level B2, you can find additional money changers offering the opportunity to bargain for better rates, especially during quieter times. This makes Mustafa Centre a prime destination for diverse currency exchange needs in Singapore.

• 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.
• Address: 145 Syed Alwi Rd, Level 1, Singapore 207704
• Hours: Daily 10am-11pm

Reviews: 3.8 stars | 112 Google Reviews

“Good place to exchange foreign currency to sgd or vice versa. Rates are comparatively good as compared to others especially ones at Airport.” – Mueez Jamil

 Lucky Plaza

The money changers in Lucky Plaza can be found on Orchard Road, also known as the shopping center in Singapore. For this reason, it is a very convenient place to exchange currencies for tourists that are already visiting Orchard Road and the surrounding area.

Most currency exchange booths are conveniently located on Basement 1 and Level 1, allowing easy comparison of rates. As rates can vary daily, it’s advisable to check and contrast different money changers to find the best deal.

• Best Rates For: Philippine Peso, Thailand Baht, and Malaysian Ringgit.
• Money Exchange Services: PHP, MYR, IDR, INR, THB
• Address: 304 Orchard Rd, Lucky Plaza, Singapore 238863
• Hours: Varied opening hours per location

Popular Money Changers at the Lucky Plaza:

10am-8pm | Fri 10am-12:30pm; 2:30pm- 8PMFajar Money Changer#01-82Mon-Sat 10am-7pm

(Closed on Sundays)

Reviews: 5 stars | 18 Google Reviews (Rabi Trading)

“Good, fast and efficient service from this money changer. Asked around the place for rates from other money changers and this place has the best rate by far. Owner was friendly, and honest.” – Tan Jane

People’s Park Complex Chinatown

People’s Park Complex houses numerous money changers. The main feature of these money changers is the ability to compare the rates of each money changer stall prior to deciding on which one to go to. 

This will allow you to get the best rates possible for the currency that you have. Located at the center of Chinatown in Singapore, it is a great place to exchange money if you are already visiting the area.

• Best Rates For: Chinese Yuan, Philippine Peso, Thai Baht, Hong Kong Dollar, and Malaysian Ringgit
• Money Exchange Services: CNY, HKD, MYR, PHP
• Address: 1 Park Rd, Singapore 059108
• Hours: Daily 9am-9pm 

Popular Money Changers at the People’s Park Complex Chinatown:

Dollar Exchange PTE LTD

Many find Dollar Exchange PTE LTD to handle exchange rates as close as possible to the financial forecast. In fact, one might wonder about the actual service fees they charge customers (because it’s closely priced to the most-recent forex rates)

The money changer has been servicing Singaporeans and foreigners for more than 20 years. In addition to its money-changing service, both citizens and foreigners can send money locally or abroad through their top-quality remittance services, which also have fairly low rates. 

Dollar Exchange also features a website where you can check the total amount you’ll receive for your currency before you even queue up in the lines.

• Best Rates For: Chinese Yuan, Thai Baht, Korean Won, US Dollars, and Malaysian Ringgit
• Money Exchange Services: 20+ currencies including, CNY, MYR, INR, JPY, THB, IDR, KRW, USD
• Address: 63 Jurong West Central 3, JP2, #01-18, Singapore 648331
• Hours: Daily 10am-8:30pm 

Reviews: 3.1 stars | 34 Google Reviews

“Same rate as other money changers. Had a pleasant and smooth transaction. Would definitely go back here if I’m around the area and need to change currency.” – Bren Ailin

Yakadir Money Changer

If you’re residing near Katong Shopping Center, Yakadir PTE LTD is one of Singapore’s best-rated money changers. The proof: there are long lines almost every day. 

Fortunately, you won’t need to queue up immediately with this currency converter in Singapore because you can check the currencies they’re buying and selling and their exchange rates for each type of money.

Yakadir has been providing money changing services for Singaporeans and foreigners for more than three decades. With experience comes great learnings, and Yakadir has made their practices and processes completely transparent for all their customers.

They charge modest service rates than other money changers, and this is thanks to their excellent remittance services.

• 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
• Address: 80 Marine Parade Road #01-16B, Parkway Parade Singapore – 449269
• Hours: Daily 10am-8:30pm

A.R. Money Changer

You’ll mostly see people complaining about the long lines and problematic length of time they spend exchanging money in A.R. Money Changer. However, those long queues exist for a reason; they A.R. Money Changer offers the best rates than other money changers. 

Often, you’ll wonder if they’re still charging for service fees because of their low exchange rates close to the recent forex forecast. You’ll find A.R. Money Changer to offer the best exchange rates than other money changers in Singapore.

• Best Rates For: Malaysian Ringgit
• Money Exchange Services: CNY, MYR, EUR, AUD, THB, GBP, PHP, USD, CHF, INR, CAD, NZD, IDR, VND, KRW, JPY, HKD, TWD
• Address: VWW6+M2R, Manggayad, Balabag, Boracay Island, Malay (Boracay), Aklan, Malay
• Hours: Daily 10am-9:30pm

Thin Margin

Singapore’s first 24/7 online money changer is one of the best money changers in the country. Instead of falling in line and enduring long queues, you can use their online platform to buy and sell your currencies. 

If you have a foreign currency bank account, the money changer can deposit your Scandinavian Krones, Russian Rubles, Malaysian Ringgit, and foreign money available. Otherwise, they will deliver the money straight to you using couriers.

Furthermore, Thin Margin is a government-backed initiative. In doing so, they offer great rates for foreign currencies greatly close to the most recent forex broadcasts. Their advanced financial technology allows buyers to purchase foreign currencies using online banking aside from credit cards.

Lastly, with government subsidy, you can lock in the amount during your purchase date, ensuring that you won’t pay extra for any fluctuations in the currency.

• 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
• Address: 11 Collyer Quay, Singapore 049317
• Hours: Open 24 hours daily

Reviews: 4.9 stars | 346 Google Reviews

“Second time using the service. Good rates, free delivery for bigger amounts. Will continue to use them for bigger currency swaps.” – Leonard S

Fountain Money Changer

If you’ve just arrived from the airport, you can head straight to Fountain Money Changer services. With their excellent rates, you can exchange more than 100 currencies and get the best rates.

Since Fountain Money Changer does not publicly disclose their fee structure, it’s best to visit their branch or call for specific information. Keep in mind that exchange rates might also include a small cut, impacting the overall cost of your transaction.

Because of their decades-long experience in money changing, Fountain Money Changer is known for its polite service, which can top other money changers in Singapore. 

• Best Rates For: Scandinavian Krones and Russian Rubles
• Money Exchange Services: MYR, USD, THB, TWD, CNY, HKD, JPY, KRW, EUR, GBP, AUD, NZD, IDR, PHP, VND, INR, CHF, CAD
• Address: 3 Temasek Blvd, Singapore 038983
• Hours: Daily 10am-8pm

Reviews: 3 stars | 2 Google Reviews

“My office is upstairs and I always exchange here, i always feel they have good rates. straight forward people. and you can count money by yourself just next to the cashier with the money machine thingy” – Arvi Da Mayo

Practical Tips for Getting the Best Exchange Rates

• Utilize Apps and Websites for Real-Time Rates: Leverage technology by using reliable apps and websites to monitor real-time exchange rates. This allows you to stay informed and seize the best rates as they fluctuate.
• Compare Rates Locally: Always compare the exchange rates offered by different money changers in the same area. A slight variation can significantly impact the amount you receive, especially when exchanging large sums.
• Optimal Timing for Large Transactions: Timing is crucial when exchanging large amounts of money. Try to change your currency during market hours when rates are generally more favorable and less volatile.
• Avoid Airport Exchanges: Money changers at airports often offer less competitive rates due to the convenience factor. Try to exchange your money at a reputable location outside the airport.
• Check for Hidden Fees: Ensure you understand any hidden fees or charges that might be applied to your transaction. These can include service fees, minimum transaction fees, or percentage-based fees that can reduce the amount of money you receive.
• Regular Monitoring: Keep an eye on exchange rate trends if you know you’ll need to exchange money in the near future. This way, you can plan ahead and exchange your money when the rates are most favorable.
• Ask for Discounts: If you’re exchanging a large amount of money, don’t hesitate to ask the money changer for a better rate or a discount. Some may offer better rates for higher amounts.

FAQs

1. Which money changer has the best rate in Singapore?

The best rates can vary daily, but locations like The Arcade at Raffles Place and Mustafa Centre are known for consistently offering competitive rates. It’s advisable to check real-time rates using apps or websites before heading out.

2. Where to exchange money best rate?

For the best rates, consider money changers in areas with multiple competitors, such as The Arcade at Raffles Place or People’s Park Complex in Chinatown. Comparing rates on-site can help you find the best deal.

3. Where is the best place to change money?

The best places to change money are often busy commercial centers with multiple money changers. Consider these places:

• The Arcade at Raffles Place: Best for a wide range of currencies with competitive rates.
• Mustafa Centre: Best for late-night currency exchanges with extensive selection.
• Lucky Plaza: Best for exchanging Philippine Peso, Thai Baht, and Malaysian Ringgit.
• People’s Park Complex Chinatown: Best for comparing rates among multiple money changers.

4. What is the maximum amount in money changer Singapore?

The maximum amount you can exchange at a money changer in Singapore can vary, but many have limits set to comply with regulatory requirements. For currency exchanges exceeding SGD $5,000, you must provide personal information to the money changer, in accordance with MAS Notice 3002.

You will likely need to present an identification card or document, along with proof of address, for verification purposes. Rest assured, your information will be kept private and confidential, adhering to the Personal Data Protection Act.

Conclusion

Selecting the best money changer in Singapore involves considering factors such as competitive rates, convenient locations, and reliable services. By comparing options at popular locations like The Arcade at Raffles Place, Mustafa Centre, and Lucky Plaza, you can ensure you get the best value for your money. Utilize real-time rate monitoring tools and consider the practical tips provided to maximize your currency exchange experience.

Key Takeaways:

• Always compare exchange rates from different money changers to get the best value for your money.
• Choose money changers with convenient operating hours and accessible locations.
• Ensure regulatory compliance for security and consider additional services like remittance and travel insurance.

Need urgent cash? Trust 1 Fullerton Credit, one of the best licensed moneylender in Singapore. Visit us today!

Receive FREE Loan Quotes today!

Fill out this form and we’ll get back to you with your most suitable loan plan

• Name*
  First
• Loan Amount*
• HP No*
• Monthly Income*

Submit Form