Singapore stands as the world's third-largest foreign exchange center, hosting over 230 licensed money changers. Many of these providers also offer remittance services, supporting businesses with cross-border payment needs. However, varying exchange rates and fees can make it challenging to identify the best value for foreign exchange (FX) transfers.
This guide reviews 12 top money changers in Singapore, highlighting those with the most competitive rates and convenient locations.
Key Factors When Choosing a Money Changer
Selecting the right money changer involves evaluating several critical aspects:
- Exchange Rate: Rates fluctuate frequently due to economic and political factors. Use comparison websites like Cashchanger to check real-time rates, but always confirm directly with the provider.
- Location: Money changers are spread across Singapore, with high concentrations in commercial districts like Raffles Place, Chinatown, and Orchard Road.
- Opening Hours: Operating hours vary; some locations offer extended or 24-hour services.
Additionally, consider checking rates at local banks and fintech platforms that provide online currency exchange services.
Top Locations for Competitive Exchange Rates
| Location | Money Changer | Address | Opening Hours |
|---|---|---|---|
| Central Area | |||
| Raffles Place | The Arcade | 11 Collyer Quay, Singapore 049317 | Mon–Fri: 10am–5pm; Sat: 10am–12:30pm |
| Chinatown | People’s Park Complex | 1 Park Road, Singapore 059108 | Mon–Sun: 9am–9pm |
| Little India | Mustafa Centre | 145 Syed Alwi Road, Singapore 207704 | 24 hours |
| Orchard Road | Lucky Plaza | 304 Orchard Road, Singapore 238863 | Mon–Sat: 9:30am–8:30pm; Sun: 8:30am–9pm |
| Bugis | Victoria Street | 261 Victoria Street, Singapore 189876 | Mon–Sun: 11am–9pm |
| East | |||
| Paya Lebar | Paya Lebar MRT | 30 Paya Lebar Road, Singapore 409006 | Mon–Sat: 10am–9:30pm; Sun: 9am–9pm |
| Marine Parade | Parkway Parade | 80 Marine Parade Road, Singapore 449269 | Mon–Sun: 11:45am–8pm |
| Hougang | Hougang Central | 90 Hougang Avenue 10, Singapore 538766 | Mon–Sat: 10:15am–8:15pm; Sun: 11am–8pm |
| West | |||
| Jurong East | Jurong Gateway | 17A Jurong Gateway Road, Singapore 608513 | Mon–Fri: 8am–9:30pm; Sat–Sun: 9am–9:30pm |
| Choa Chu Kang | Lot One Shoppers Mall | 21 Choa Chu Kang Avenue 4, Singapore 689812 | Mon–Sun: 11:45am–8pm |
| Boon Lay | Boon Lay Shopping Centre | 221 Boon Lay Place, Singapore 640221 | Mon–Sat: 9am–9pm; Sun: 10am–6pm |
| North | |||
| Marsiling | Marsiling Mall | 4 Woodlands Street 12, Singapore 738623 | Mon–Fri: 11:30am–8:30pm; Sat: 1pm–7pm; Sun: 3pm–7pm |
Detailed Reviews of Singapore’s Best Money Changers
The Arcade at Raffles Place
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| USD, GBP, EUR, TWD, HKD, MYR, THB, CNY, KRW, IDR, PHP, INR | 11 Collyer Quay, Singapore 049317 | Mon–Fri: 10am–5pm; Sat: 10am–12:30pm |
Ideal for those in Singapore’s financial district, The Arcade’s second floor features multiple money changers, simplifying rate comparisons. Additional services include bank transfers and cheque issuance.
People’s Park Complex at Chinatown
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| USD, EUR, CNY, HKD, MYR, PHP | 1 Park Road, Singapore 059108 | Mon–Sun: 9am–9pm |
A hub for tourists and competitive exchange rates, particularly for Hong Kong dollars, Chinese renminbi, and Southeast Asian currencies.
Mustafa Centre at Little India
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| PKR, BDT, JOD, INR, IDR, PHP, LKY, MYR, CNY, HKD | 145 Syed Alwi Road, Singapore 207704 | 24 hours |
Singapore’s only 24-hour money changer, ideal for after-hours exchanges and less common South Asian or Middle Eastern currencies.
Lucky Plaza at Orchard Road
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| PHP, MYR, IDR, INR, THB | 304 Orchard Road, Singapore 238863 | Mon–Sat: 9:30am–8:30pm; Sun: 8:30am–9pm |
A popular spot for tourists and domestic workers, offering highly competitive rates for Philippine Pesos and Southeast Asian currencies.
Victoria Street at Bugis Junction
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| MYR, USD, THB, TWD, CNY, HKD, JPY, KRW, EUR, GBP | 261 Victoria Street, Singapore 189876 | Mon–Sun: 11am–9pm |
Convenient for those traveling to Malaysia, with several money changers offering competitive Malaysian ringgit rates.
Paya Lebar MRT
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| USD, MYR, THB, CNY, JPY, AED, SAR, TRY | 30 Paya Lebar Road, Singapore 409006 | Mon–Sat: 10am–9:30pm; Sun: 9am–9pm |
Located within Paya Lebar MRT station, this provider offers major currencies and accepts PayNow for cashless transactions.
Parkway Parade at Marine Parade
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| MYR, USD, THB, TWD, HKD, JPY, KRW, EUR, GBP, AUD, NZD, IDR, PHP, VND, CHF, CAD | 80 Marine Parade Road, Singapore 449269 | Mon–Sun: 11:45am–8pm |
With three decades of operation, this established money changer offers competitive rates, excellent service, and remittance options.
Hougang Mall
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| MYR, USD, THB, TWD, CNY, HKD, JPY, KRW, EUR, GBP | 90 Hougang Avenue 10, Singapore 538766 | Mon–Sat: 10:15am–8:15pm; Sun: 11am–8pm |
Known for efficient service and friendly staff, this Hougang Mall-based changer provides smooth currency exchanges.
Jurong Gateway at Jurong East
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| MYR, USD, THB, TWD, HKD, AED, BDT, DKK, EGP | 17A Jurong Gateway Road, Singapore 608513 | Mon–Fri: 8am–9:30pm; Sat–Sun: 9am–9:30pm |
Offers some of the best rates in the west and early opening hours for morning exchanges.
Lot One Shoppers Mall at Choa Chu Kang
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| MYR, USD, THB, TWD, CNY, HKD, JPY, KRW, EUR, GBP, AUD, NZD, IDR, VND, PHP | 21 Choa Chu Kang Avenue 4, Singapore 689812 | Mon–Sun: 11:45am–8pm |
Popular for competitive rates, though wait times can be longer due to high demand.
Boon Lay Shopping Centre
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| MYR, USD, THB, TWD, CNY, HKD, JPY, KRW, EUR, GBP | 221 Boon Lay Place, Singapore 640221 | Mon–Sat: 9am–9pm; Sun: 10am–6pm |
Attractive rates for major currencies and one of the few providers offering smaller denomination notes.
Marsiling Mall
| Currencies Offered | Address | Opening Hours |
|---|---|---|
| MYR, USD, THB, TWD, CNY, HKD, JPY, KRW, EUR, GBP, AUD, NZD, IDR, VND, PHP | 4 Woodlands Street 12, Singapore 738623 | Mon–Fri: 11:30am–8:30pm; Sat: 1pm–7pm; Sun: 3pm–7pm |
Convenient for exchanges after arriving from Malaysia, though opening hours can be irregular—call ahead to confirm.
Digital Alternatives for Business Currency Exchange
For businesses conducting frequent or large-volume international transactions, traditional money changers may not be optimal due to limited stock, restricted hours, and the need for physical visits. Digital platforms often provide more competitive rates, lower fees, and greater convenience. 👉 Explore advanced currency exchange solutions
Leading fintech providers offer online currency exchange and international transfer services, enabling businesses to manage global payments efficiently from their offices.
Frequently Asked Questions
Do money changers offer better rates than banks in Singapore?
Money changers often provide better rates for individuals compared to banks. However, businesses with high transaction volumes or strong banking relationships may secure more favorable rates from banks. Always compare options before deciding.
How can I avoid unfavorable exchange rates?
Compare rates across multiple money changers using online platforms like CashChanger. For businesses, digital financial platforms typically offer lower markups and greater transparency.
Can I reserve exchange rates online with Singapore money changers?
Some money changers and banks allow rate reservations online for account holders. Digital platforms also often provide rate locking features for added convenience.
What identification is required for currency exchange in Singapore?
For exchanges exceeding S$5,000 (or equivalent), present your NRIC or passport. Proof of address may also be required.
Is there a limit on how much currency I can exchange?
There is no legal limit for exchanges in Singapore. However, carrying cash exceeding S$20,000 (or equivalent) when entering or leaving the country requires declaration to the Singapore Police Force.
Are money changers in Singapore safe?
Licensed money changers and regulated fintech firms are safe for currency exchanges. Always verify that the provider is licensed by the Monetary Authority of Singapore.