Singapore ranks as the third-largest foreign exchange hub globally, hosting over 230 licensed money changers. These trusted providers not only support individual travelers but also serve businesses needing reliable foreign exchange (FX) services and cross-border remittance solutions. With so many options available, choosing the right money changer can significantly impact your savings—especially when dealing with frequent or high-volume transactions.
This guide highlights the 12 best money changers in Singapore, focusing on competitive exchange rates, convenient locations, and reliable service. Whether you're a business owner managing international payments or an individual preparing for travel, this overview helps you make informed decisions with confidence.
What to Consider When Choosing a Money Changer in Singapore
When comparing money changers, three key factors stand out: exchange rates, location, and operating hours.
Exchange Rates
FX rates fluctuate daily due to economic conditions, geopolitical events, and market demand. No single money changer consistently offers the best rate across all currencies. Your ideal provider depends on the specific currency pair—such as SGD to USD, MYR, or INR—and the current market climate.
To find favorable rates quickly, use comparison platforms like Cashchanger. However, always verify the displayed rate by calling the money changer directly before visiting.
Location & Accessibility
Money changers are scattered island-wide—from Pasir Ris in the east to Jurong in the west. Most cluster in high-traffic commercial zones like Raffles Place, Chinatown, and Orchard Road. These areas often host multiple changers side-by-side, enabling easy rate comparisons.
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Operating Hours
While most physical money changers operate standard business hours, some—like those in shopping malls or transport hubs—offer extended availability. A few even operate 24/7, which is especially useful for last-minute travelers or urgent business needs.
For businesses requiring flexibility beyond walk-in counters, fintech solutions provide round-the-clock access to real-time rates and instant transfers.
Top Locations for Competitive Exchange Rates
The following areas are known for hosting some of Singapore’s most reputable and rate-competitive money changers:
Central Area
- Raffles Place (The Arcade): Ideal for professionals in the financial district.
- Chinatown (People’s Park Complex): Offers strong rates for CNY, HKD, and Southeast Asian currencies.
- Little India (Mustafa Centre): The only 24-hour money changer, great for South Asian currencies.
- Orchard Road (Lucky Plaza): Popular among tourists and domestic workers exchanging PHP and MYR.
- Bugis Junction: Convenient for travelers heading to Malaysia.
East Region
- Paya Lebar MRT: Accessible via public transport with PayNow support.
- Marine Parade (Parkway Parade): Established service with remittance options.
- Hougang Mall: Efficient service with friendly staff.
West Region
- Jurong East (Jurong Gateway): Early opening hours suit morning commuters.
- Choa Chu Kang (Lot One): Competitive rates but may have longer queues.
- Boon Lay Shopping Centre: Offers smaller denomination notes for convenience.
North Region
- Marsiling Mall: Close to Woodlands checkpoint; ideal after crossing from Malaysia.
The 12 Best Money Changers in Singapore
1. The Arcade – Raffles Place
Currencies: USD, GBP, EUR, TWD, HKD, MYR, THB, CNY, KRW, IDR, PHP, INR
Address: 11 Collyer Quay, #02-01 to #02-15, Singapore 049317
Hours: Mon–Fri: 10am–5pm | Sat: 10am–12:30pm | Closed on Sundays
Located in Singapore’s financial heartland, The Arcade houses numerous money changers on its second floor. This concentration allows quick rate comparisons. Many offer additional services like bank transfers and cheque issuance—ideal for business needs.
2. People’s Park Complex – Chinatown
Currencies: USD, EUR, CNY, HKD, MYR, PHP
Address: 1 Park Road, #01-138 to #01-146, Singapore 059108
Hours: Daily 9am–9pm
A top destination for tourists and locals alike, this complex features multiple licensed changers offering strong rates for major Asian currencies. Its central location makes it easily accessible via MRT.
3. Mustafa Centre – Little India
Currencies: PKR, BDT, JOD, INR, IDR, PHP, LKR, MYR
Address: 145 Syed Alwi Road, Singapore 207704
Hours: Open 24 hours
As Singapore’s only 24-hour money changer, Mustafa Centre serves late-night travelers and those needing less common currencies like Pakistani Rupee or Bangladeshi Taka. Always confirm availability by phone before visiting.
👉 Compare interbank rates digitally—no queues required.
4. Lucky Plaza – Orchard Road
Currencies: PHP, MYR, IDR, INR, THB
Address: 304 Orchard Road, #01-05/06/07 & B1-66/67/68, Singapore 238863
Hours: Mon–Sat: 9:30am–8:30pm | Sun: 8:30am–9pm
Popular among foreign domestic workers and tourists, Lucky Plaza offers highly competitive rates for Philippine Peso and regional currencies. Changemakers are located on Level 1 and B1.
5. Bugis Junction – Victoria Street
Currencies: MYR, USD, THB, TWD, CNY, JPY, KRW
Address: 261 Victoria Street, #01-25 to #01-33, Singapore 189876
Hours: Daily 11am–9pm
Well-connected by bus routes to Malaysia, Bugis is a go-to spot for SGD/MYR exchanges. Multiple changers allow easy rate shopping before finalizing your transaction.
6. Paya Lebar MRT Station
Currencies: USD, MYR, THB, CNY, JPY, AED, SAR
Address: 30 Paya Lebar Road, #B1-35/36/37/38/39/40/41/42/43/44/45/46/47/48/49/50/51/52/53/54/55/56/57/58/59/60/61/62/63/64/65/66/67/68/69/70/71/72/73/74/75/76/77/78/79/80/81/82/83/84/85/86/87/88/89/90/91/92/93/94/95/96/97/98/99
Hours: Mon–Sat: 10am–9:30pm | Sun: 9am–9pm
Conveniently located inside the MRT station, this changer accepts PayNow payments—eliminating the need to carry large cash amounts. It's popular among both locals and expats.
7. Parkway Parade – Marine Parade
Currencies: MYR, USD, THB, TWD, JPY, KRW, EUR, GBP, AUD, NZD
Address: 80 Marine Parade Road, #B1-55 to #B1-57, Singapore 449269
Hours: Daily 11:45am–8pm
Operating for over three decades, this established changer offers excellent customer service and remittance services alongside competitive rates.
8. Hougang Mall
Currencies: MYR, USD, THB, TWD, CNY, HKD
Address: 90 Hougang Avenue 10, #01-22 to #01-26 & #B2-59 to #B2-65 & #B2-67 to #B2-73 & #B2-75 to #B2-77 & #B2-79 to #B2-85 & #B2-87 to #B2-93 & #B2-95 to #B2-99 & #B2-K1 to #B2-K7 & #B2-K9 to #B2-K15 & #B2-K17 to #B2-K23 & #B2-K25 to #B2-K31 & #B2-K33 to #B2-K39 & #B2-K41 to #B2-K47 & #B2-K49 to #B2-K55 & #B2-K57 to #B2-K63 & #B2-K65 to #B2-K71 & #B2-K73 to #B2-K79 & #B2-K81 to #B2-K87 & #B2-K89 to #B2-K95 & #B2-K97 to #B2-KA3 & #B2-KA5 to #B2-KA11 & #B2-KA13 to #B2-KA19 & #B2-KA21 to #B2-KA27 & #B2-KA29 to #B2-KA35 & #B2-KA37 to #B2-KA43 & #B2-KA45 to #B2-KA51 & #B2-KA53 to #B2-KA59 & #B2-KA61 to #B2-KA67 & #B2-KA69 to #B2-KA75 & #B2-KA77 to #B2-KA83 & #B2-KA85 to #B2-KA91 & #B2-KA93 to #B2-KA99 & #B2-KB1 to #B2-KB7 & #B2-KB9 to #B2-KB15 & #B2-KB17 to #B2-KB23 & #B2-KB25 to #B2-KB31 & #B2-KB33 to #B2-KB39 & #B2-KB41 to #B2-KB47 & #B2-KB49 to #B2-KB55 & #B2-KB57 to #B2-KB63 & #B2-KB65 to #B2-KB71 & #B2-KB73 to #BB-BK79 & KB-BK81-BK87-BK89-BK95-BK97-BK-A3-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK-AK
Hours: Mon–Sat: 10:15am–8:15pm | Sun: 11am–8pm
Known for fast processing and attentive staff, Hougang Mall provides a seamless experience with strong rates across major currencies.
9. Jurong Gateway – Jurong East
Currencies: MYR, USD, THB, TWD, HKD, AED
Address: 17A Jurong Gateway Road, #01-15, Singapore 608513
Hours: Mon–Fri: 8am–9:30pm | Sat–Sun: 9am–9:30pm
Located within the bus interchange, this changer opens early—perfect for early travelers needing quick currency conversion.
10. Lot One Shoppers Mall – Choa Chu Kang
Currencies: MYR, USD, THB, TWD, CNY
Address: 21 Choa Chu Kang Avenue 4, Singapore 689812
Hours: Daily 11:45am–8pm
Offers attractive rates but can be busy during weekends. Plan visits during off-peak hours for shorter wait times.
11. Boon Lay Shopping Centre
Currencies: MYR, USD, THB, TWD
Address: 221 Boon Lay Place, Singapore 640221
Hours: Mon–Sat: 9am–9pm | Sun: 10am–6pm
One of the few changers offering smaller denomination notes—ideal for travelers needing cash for small purchases.
12. Marsiling Mall – Woodlands
Currencies: MYR, USD, THB
Address: 4 Woodlands Street 12, Singapore 738623
Hours: Mon–Fri: 11:30am–8:30pm | Sat: 1pm–7pm | Sun: 3pm–7pm
Best suited for those arriving from Malaysia via Woodlands Checkpoint. Due to variable hours, call ahead before visiting.
Why Businesses Should Consider Digital FX Solutions
While physical money changers work well for small-scale or immediate needs, businesses handling regular international transactions benefit more from digital platforms. Traditional changers have limitations:
- Limited operating hours
- Physical presence required
- Higher spreads on large volumes
Digital providers offer superior scalability and cost-efficiency.
👉 See how modern platforms deliver better FX outcomes than walk-in changers.
Frequently Asked Questions (FAQs)
Do money changers in Singapore offer better rates than banks?
Generally yes—for individuals exchanging small amounts. Money changers often beat retail bank rates due to lower overheads. However, businesses with strong banking relationships may negotiate better terms through corporate banking channels.
How can I avoid poor exchange rates?
Always compare rates using tools like Cashchanger or visit forex hubs like The Arcade where multiple providers compete side-by-side. For consistent savings, consider fintech platforms offering near-interbank rates.
Can I lock in an exchange rate online?
Some money changers allow rate reservations online (e.g., Arcade Money Changers). Fintech firms like Airwallex offer real-time rate locking during transactions—ensuring no surprises at settlement.
What ID is needed for currency exchange?
For transactions exceeding S$5,000 (or equivalent), you must present valid photo ID (NRIC or passport). Proof of address may also be requested.
Is there a limit on how much I can exchange?
No legal cap exists on exchange amounts in Singapore. However, if carrying over S$20,000 in cash across borders (or equivalent), declaration via CBNI Form NP 727 is mandatory.
Are money changers in Singapore safe?
Yes—licensed money changers are regulated by the Monetary Authority of Singapore (MAS). Always verify licensing status before transacting. Digital platforms like Airwallex are also MAS-regulated Major Payment Institutions.
Final Thoughts
Whether you're converting SGD for travel or managing recurring business payments abroad, knowing where to get the best exchange rates matters. Physical money changers across Singapore—from Chinatown to Jurong—offer convenience and competitive pricing for everyday needs.
But for businesses aiming to scale globally while minimizing FX costs and administrative burden, digital financial platforms provide a smarter alternative. With faster processing times, lower markups than traditional banks or walk-in changers—and full regulatory compliance—modern fintech solutions empower seamless international growth.
Choose wisely based on your volume, frequency, and operational needs—and always prioritize transparency and security in every transaction.