Best money changers in Singapore
When planning for an overseas trip, a travel e-wallet can be invaluable, but it’s always good to carry some cash just in case. This is where the not-so-fun part of any getaway starts, though: figuring out which money changers will offer you the best rate.
If you often scramble to find a good place to exchange your currency, you can finally put aside your money changing woes because here are some of the best money changers in Singapore that’ll give you the best rates for your next trip.
Table of Contents [hide]
- Best money changers in Singapore
- How do I choose the right money changer?
- When should I exchange money?
- – Central –
- 1. Arcade Money Changers (Raffles Place) – Most competitive rates in Singapore
- 2. Rabi Trading (Lucky Plaza) – Best rates for Thai Baht & Philippine Peso in town
- 3. Rahiman Trading (Lucky Plaza)
- 4. Mustafa Foreign Exchange (Little India) – Open late till 11pm
- 5. Crante Money Changer (People’s Park Complex) – Try your hand at bargaining
- 6. AK Money Changer (People’s Park Complex)
- 7. Bugis Money Changer (Bugis Juntion) – Best AUD & GBP rates
- – Heartlands –
- 8. Eastpoint Moneychanger (Simei) – Stress-free service
- 9. Golden Homes Enterprise (Bishan) – Negotiable rates
- 10. JC Global (Choa Chu Kang) – Accepts PayNow
- 11. Everpeace (Marine Parade) – Also helps with remittance
- 12. M.S. (Hougang) – Rates comparable to People’s Park
How do I choose the right money changer?
Comparison is the name of the game when it comes to finding the right money changer, and there’s a variety of online tools you can use to make the process easier. Here is a list of free sources to compare rates.
X-Rates
X-Rates is a free online platform that includes Currency Exchange Tables, so it’s easier to get a sense of rates at a glance, and even charts of historical rates to assist you in your analysis.
XE Currency
XE Currency is another excellent source for currency converters. The platform provides live exchange rates with currency trend charts to help you make a more informed decision. The website also allows you to set a target alert so you’ll know when to head to the money changers. There’s even a currency encyclopedia for a quick lesson about each currency.
CashChanger
CashChanger saves you enormous times when searching for the right money changer. Instead of heading to physical locations to check the best rates, CashChanger gives you live updates on the best rates around Singapore and even links you to their respective locations.
A tip on money changer locations: Avoid exchanging money at the airport and tourist-heavy areas like Marina Bay Sands, as these places may charge more for the convenience. And always remember to ask for hidden fees like transaction fees to avoid getting a shock during payment.
When should I exchange money?
Timing your purchase just right could save you some money as well, so it’s well worth deciding when to head down to your money changer.
Monitor currency trends and rates and watch for favourable trends, especially since the rates are susceptible to political events and market sentiment. You may want to monitor the rates over a 6-month period to determine if you’ll be receiving a good rate. The online tools listed above should make the job a little easier for you.
If you’re worried about staring at the rates obsessively, set alerts for target rates instead. This allows you to be notified when the rate for your desired currency hits a certain level, saving you copious time on the app.
Avoid exchanging money on weekends since the forex market may be closed. You may want to avoid holiday periods as well because money changers may be faced with a higher demand, leading to less favourable rates. The general rule of thumb is to avoid peak transfer times since lower activity usually means more stability.
Don’t wait till the last minute to avoid getting caught in less-than-favourable rates days before your holiday.
– Central –
1. Arcade Money Changers (Raffles Place) – Most competitive rates in Singapore
Image credit: Shopee Singapore
Probably the place every Singaporean will tell you has the best rates, The Arcade is home to multiple money changers. It’s because of this that they are able to offer competitive rates for many currencies: USD, EUR, GBP, THB, TWD, JPY, and MYR.
Arcade Money Changers has been around since 1979 and with its prime location – literally on the doorstep of The Arcade, there is always a crowd at their storefront during lunch hours and on the weekends.
If you dare to brave the crowds inside, you’ll find plenty more money changers like Universal Money Xpress or Arcade Plaza Trader with similar deals.
Arcade Money Changers review: “Easy currency lock-in price online, quick service and welcoming attitude. Went there at 10am and didn’t have to queue. They can do multiple currency exchange in one go and will double check each of the exchanged currencies in front of you.” – Vernikia K via Google Maps
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2. Rabi Trading (Lucky Plaza) – Best rates for Thai Baht & Philippine Peso in town
Image credit: Rabi Trading
Just like The Arcade, Lucky Plaza is home to an abundance of money changers. Even though it’s located in town, you’re still able to get low rates here, especially for PHP. Rabi Trading is one of the more popular money changers within Lucky Plaza with competitive rates for PHP, USD, and THB.
Rabi Trading review: “Just changed some notes. Friendly and funny. He asked me what denomination I wanted. He also chose newer notes for me. This place will be my regular money changer.” – Elis Rustan via Google Maps
3. Rahiman Trading (Lucky Plaza)
Image credit: Cash Changer Singapore
This small shop is known for their competitive exchange rates but just be sure to check with the staff on hand for their rates since it may not be displayed all the time.
Rahiman Trading review: “As with any money changing exercise, always good to check around. This shop gave the best rate for us. Cash only. Actually almost every shop in lucky plaza takes cash only. No pay now option. Service is quite efficient otherwise.” – Daniel Bok via Google Maps
4. Mustafa Foreign Exchange (Little India) – Open late till 11pm
Previously open 24/7, Mustafa Foreign Exchange at Mustafa Centre was the go-to late-night currency converter. While their opening hours have shortened, last minute travellers can visit till as late as 11pm – which is still considerably later than most money changers in Singapore.
They also have good rates for quite a few currencies, namely INR, IDR, RMB, MYR, CNY, HKD, and PHP.
Mustafa Foreign Exchange review: “An okay place for currency conversion with lots of currency exchange possible. Display rates on TV but for some conversions info is not clear. Good conversion for USD and MYR but for INR it’s as good as bank conversion rates.” – Nagarjuna Kristam via Google Maps
5. Crante Money Changer (People’s Park Complex) – Try your hand at bargaining
Image credit: CashChanger
There are quite a number of money changers at People’s Park Complex, which means most of them offer competitive rates to attract customers. With that in mind, you could try honing your bargaining skills to get an even better rate for yourself.
Crante Money Changer often has the longest queue, with customers lining up to change HKD and CNY. Pretty good rates are also available for PHP, THB, and MYR.
Crante Money Changer review: “I’m surprised at the reviews for this 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 via Google Maps
6. AK Money Changer (People’s Park Complex)
Image credit: KZ Seet via Google Maps
Another popular money changer in the mall is AK Money Changer that often has a stream of customers in line. Avoid lunch and dinner hours if you don’t wish to wait. The rates here are said to be competitive but it’s always a good idea to do a quick price comparison with the other money changers in the area before cashing in.
AK Money Changer review: “My Experience with AK Money Changer was Great. They gave me a good price and their services were great, I would go back to change money with them again!” – Azitha Farzaana via Google Maps
Address: 1 Park Road, #01-K95C People’s Park Complex, Singapore 059108
Opening hours: Daily 9:30am-9pm
Contact: 6557 0487
7. Bugis Money Changer (Bugis Juntion) – Best AUD & GBP rates
Image credit: CapitaLand
It might be a little hard to spot this tiny money changer at the bustling Bugis Junction but it’ll be worth it since Bugis Money Changer is one of the better places to exchange AUD and GBP in Singapore. You can find the store facing Bugis Junction taxi stand, beside Nike.
Bugis Money Changer review: “I got great rates, the service is fast and the staff are friendly. Very recommended. They also give me banknotes with good quality.” – Bradley Ginta via Google Maps
– Heartlands –
8. Eastpoint Moneychanger (Simei) – Stress-free service
Image credit: Gem Stone via Google Maps
Easties will know of Eastpoint Moneychanger, located in the basement of Eastpoint Mall. Apart from offering competitive rates for VND, IDR, and MYR they also have the reputation of being fast and polite. Receipts are always given and you can even request for an opaque envelope to store your foreign currency.
Eastpoint Moneychanger review: “Rates here are OK. There was a queue since the school holidays have started. But the queue moves pretty fast. I like to change here although I stay in Loyang.” – Trisha Lim via Google Maps
9. Golden Homes Enterprise (Bishan) – Negotiable rates
Image credit: Joseph Joe via Google Maps
Located between Braddell and Lorong Chuan MRT station, this money changer is nestled within an HDB estate. If you’re changing large sums of money, they’re open to negotiations too.
Golden Homes Enterprise review: “Had a great experience!!! Competitive rates, no hidden fees, and friendly staff made the process quick and easy. Highly recommended for reliable currency exchange!” – Hannah Kamal via Google Maps
10. JC Global (Choa Chu Kang) – Accepts PayNow
Image adapted from: JC Global
JC Global has a few outlets in Singapore but their Choa Chu Kang branch has among the best reviews on Google, with more than 1,000 customers commending their fast and efficient service. The rates here are hard to beat but here’s the best part: you can exchange money using PayNow and skip the hassle of drawing cash at the nearest ATM.
JC Global review:” Fuss free and convenient especially with paynow. It was not a hassle at all exchanging Japanese Yen at a competitive rate.” – August Ong via Google Maps
11. Everpeace (Marine Parade) – Also helps with remittance
Image credit: Leonard Chia via Google Maps
Everpeace Money Changer is known to offer one of the best exchange rates in the area, and have friendly staff that can help with remittance. Some have even managed to change odd amounts of SGD to MYR, which some other money changers may refuse to do.
Everpeace Money Changer review:”Very pleasant experience, gave us a slightly better rate for the higher amount we changed. Ask for their rate as it’s better than on the display. Notes were new and crisp, and provided some small notes which are helpful to have.” – Mary Anne Ho via Google Maps
12. M.S. (Hougang) – Rates comparable to People’s Park
Image credit: M.S. Money Exchange
Not many money changers can rock a 5-star review on Google but M.S. Money Changer does. Conveniently located within Hougang Mall, it’s a popular spot for those in the neighbourhood to change currencies, particularly MYR.
Some say the rates are comparable to those at People’s Park and other popular spots in town. Avoid visiting on Friday afternoons as they close for prayer breaks.
M.S. Money Changer review:”Extremely efficient and smooth process, the staff clearly explained whether I needed to top up or receive change. The exchange rate is good and excellent service.” Shareefa Maryam via Google Maps
Low rates from the best money changers in Singapore
With so many money changers around the island, it can be daunting to decide on one. With our guide, all you have to do is choose by region or choose those that give you the best deal for the currency you want.
For more travel tips and guides:
- JB Causeway Link bus guide
- Tips to get cheap flights
- Money-saving hacks for Europe
- Tips for flying with infants
Cover image adapted from: Shopee Singapore, CashChanger, KZ Seet via Google Maps
Originally published on 17th September 2023. Last updated by Shannon Chow on 27th March 2025.