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.
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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 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 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 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.
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.
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 that’s 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.
As some of these businesses might not allow photos, you can make notes on your phone to compare rates across money changers.
Pro tip: Check your notes before walking away, as some customers have received better rates only to realise it was because more old notes were tucked between new ones.
Nearest MRT: Raffles Place
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
Image credit: Flo Yeow via Google Maps
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.
Nearest MRT: Orchard
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
Image credit: Daniel Bok via Google Maps
This small shop is known for their competitive exchange rates for JPY and USD, but just be sure to check with the staff on hand for their rates since it may not be displayed all the time.
Nearest MRT: Orchard
Rahiman Trading review: “As with any money changing exercise, always good to check around. This shop gave the best rate for us. Cash only. Almost every shop in Lucky Plaza takes cash only. No PayNow option. Service is quite efficient otherwise.” – Daniel Bok via Google Maps
Transend, previously known as JC Global, is one of the more well-known money changer chains, with 6 outlets spread across the heartlands. Their branch in Bugis MRT Station is one of their more convenient locations, situated right outside the East West Line exit, just next-door to Guardian.
If you’re the Type B traveller who forgets to change currencies until the last minute, this spot should have you covered. Transend carries over 20 different major currencies including USD, EUR, GBP, THB, TWD, KRW, JPY, and MYR, AED, and SAR.
For those who prefer going cashless, keep your eyes peeled for the PayNow QR at the counter as it’s easy to miss. Otherwise, there are also a number of UOB, DBS, and OCBC ATMs in Bugis Junction just around the corner.
Nearest MRT: Bugis
Transend Review: “Great rates, great employees. I just had a money changer at Sunshine Plaza charge me $40 whereas the transaction here put me back 60 cents.” – Nicholas Alexander via Google Maps
Lucky Plaza might be famous for its competitive rates, but don’t sleep on the money changers at the nearby Far East Plaza. Lion City Money Changer is one of the better-known businesses in the old mall, with an impressive 4.8-star rating across almost 300 Google reviews.
If you’re planning a tour around South America just in time for festival season, this spot’s your best bet. Lion City stands out from others on this list as they carry harder-to-find currencies like Brazilian Real (BRL) and Chilean Pesos (CLP).
Given the rarity of these currencies in Singapore’s market, you’re not likely to get spot rates, but it’s still more convenient than the usual method of converting to USD and changing to local currency upon arrival.
Nearest MRT: Orchard
Lion City Money Changer Review: “Very good and fair rates. They have a large variety of currencies and they’re able to order if they don’t have stock, like Uzbekistani Som.” – Timothy Timuari via Google Maps
Image credit: MsOmNom via Google Maps
You’d be forgiven if you’ve missed this hole-in-the-wall on your lunch breaks at Raffles City. While Saj Exchange might be hard to find, it’s worth the hassle for the friendly staff, efficient service, and reliable rates that keep their customers coming back.
A good number of the 4.7-star ratings on Google praise how accommodating the staff are, offering to provide smaller notes for customers who need them and even using newer notes for Hari Raya packets. They’ve also got rarer currencies like South African Rand (ZAR), though customers tend to change MYR, USD, PHP, and JPY.
That said, it’s good to note that they may not do exchanges for amounts below 100SGD.
Nearest MRT: City Hall
Saj Exchange Review: “Most friendly, courteous, transparent and helpful money changer that I’ve found after a day of dealing with other changers in Chinatown, Bugis and Funam area. Location is out of the way from most foot traffic, hidden behind Breadtalk next to the B1 elevators at Raffles City.” – Joman via Google Maps.
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 2am according to online reviews – 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. While they may be one of the more popular spots on this list, it’s always a good idea to double-check that the rates on screen match what you’re paying, as some customers have noticed some discrepancies.
Nearest MRT: Farrer Park
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
Image credit: MsOmNom 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.
Nearest MRT: Simei
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
Image credit: narumatha nurasha via Google Maps
Located between Braddell and Lorong Chuan MRT station, Golden Homes Enterprise is a money changer nestled within an HDB estate. If you’re changing large sums of money, they’re open to negotiations and are willing to match the rates of nearby money changers upon request.
While it’s not the easiest spot to get to, they’ve also got a Book & Pick service that lets you book currencies in advance through WhatsApp so you can head down to collect your notes without worrying about whether they have what you need.
Nearest MRT: Bishan
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
Conveniently located inside the Jurong East Bus Interchange, Rosemin Store Money Changer is a crowd favourite for its competitive rates, and is said to be comparable to other money changers in nearby malls.
As it’s a lesser-known spot, customers have been able to get their hands on popular currencies like JPY here when other money changers in JEM or Westgate are out of stock. Rare currencies aren’t neglected here either, as they sell currencies like Maldivian Rufiyaa (MVR), Nepalese Rupee (NPR), Sri Lankan Rupee (LKR), and Egyptian Pound (EGP).
Before heading down, you can also call or text them via WhatsApp for rates, especially if you’re planning to change a large sum.
Cashless payment including PayNow isn’t accepted here, so be sure to bring some notes with you. There’s also a UOB ATM just a few minutes away from the storefront.
Nearest MRT: Jurong East
Rosemin Store Money Changer Review: “Highly recommend this money changer! The owner is very friendly and the rate is very competitive! I exchanged my India Rupees and the owner educated me about the demonetized Rupees and gave me some information regarding the region I’m travelling to.” – Beng Yee Gan via Google Maps
Their name might seem like a bold statement at first, but Great Exchange & Trading have got the reviews to prove it. Sitting at 5-stars on Google across 200 reviews, this spot is a go-to for Easties. Many visit for the decent exchange rates for THB, MYR, and AUD.
What keeps customers coming back is the staff’s accommodating attitude, even helping one patron break 100 Euros into smaller notes without extra commission. Another customer was also impressed that the shop still helped them exchange a few Brunei dollars, even though there wasn’t much profit in it for them.
If you’re in the area and need a quick fix, Great Exchange & Trading is a decent option to check out.
Nearest MRT: Marine Parade
Great Exchange & Trading Review: “I got a very decent rate for THB compared to my friend’s rate at another money changer, and it was definitely better than airport rates. If you’re coming by car, just know that the car park is pretty narrow and slightly annoying to get in and out of.” – Crystal T. via Google Maps
Image credit: M.S. Money Exchange via Google Maps
Not many money changers can rock a rating as high as 4.9 stars over nearly 250 reviews on Google, but M.S. Money Changer can. Conveniently located in the basement of Hougang Mall, it’s a popular spot for those in the neighbourhood to change currencies, particularly KRW and MYR.
Some say the rates are comparable to other popular spots in town. Many of their customers contact the shop directly through WhatsApp for fast replies, and some are even able to exchange their money by the next day.
If you’re planning to head down, avoid visiting on Friday afternoons as they close for prayer breaks.
Nearest MRT: Hougang
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
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:
Cover image adapted from: Shopee Singapore, The Smart Local, Transend (Bugis MRT) & Wujianfeng Wu via Google Maps.
Originally published on 17th September 2023 and updated by Shannon Chow on 27th March 2025. Last updated by Tricia Teong on 8th April 2026.
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