Singapore’s world-class infrastructure and multicultural vibrancy extend to its payment systems – making it easy, but still worth planning ahead. While credit cards and mobile wallets dominate, currency in Singapore still matters in hawker centres and smaller outlets. Whether you’re shopping in Chinatown, tipping a cabbie, or buying kaya toast at a local café, this guide will help you navigate money in Singapore smoothly. Learn what currency to bring, where to exchange Singapore Dollars (SGD), and how to avoid fees while staying secure and savvy.
How to pay in Singapore – cash or card?
You can use cash for:
- Some budget hotels
- Some small hostels
- Local tour operators (if booked on the spot)
- Shopping at street markets (Chinatown, Bugis, etc.)
- Tips and gratuities (though tipping is not customary)
- Entry fees to small temples
- Street food (hawker centres; some accept QR code pay or NETS)
- Small purchases
- Mobile SIM and phone top-up (small shops)
- Laundry services (coin laundromats)
You can use card for:
- 4 and 5 star hotels
- Hostels
- Large tour operators
- Shopping at malls
- Entry fees to museums, attractions (e.g. Gardens by the Bay, Sentosa)
- Local buses (with contactless cards or tourist passes)
- Local taxis / app-based taxis (like Grab, Gojek)
- Airport transport (MRT, taxis, airport shuttle)
- Sit-down restaurants
- Upscale restaurants
- Online bookings for upscale hotels, flights, tours
- Spas
- Tailoring services
- Vehicle renting
- Emergency medical clinics / pharmacies
Singapore is extremely card-friendly. Even hawker centres are rolling out QR-based payments and NETS. But cash is still common for small-value transactions, especially under S$10.
What’s the best currency to take to Singapore?
Singapore Dollars (SGD or SG$) is the currency most commonly accepted in Singapore. The Singapore dollar is available in 2, 5, 10, 50, 100, and 1000 dollar notes. Transacting in other currencies is not usually possible.
So, Singapore Dollar is the best currency to take to Singapore.
Where to get the local currency in Singapore?
In Singapore, you can get the local currency in 3 ways. These are:
ATMs, or
Currency exchange
Money transfer and local pick-up
Types of cards to swipe in Singapore
Visa and Mastercard transactions are commonly accepted for swiping. You might also find some places that accept Amex and other cards, albeit less frequently.
Types of cards at ATMs in Singapore
When withdrawing money in Singapore, majority of the ATMs will accept Visa, Mastercard, Cirrus, Plus and Maestro cards. Some of them will also accept JCB, Unionpay and Rupay cards. Cards such as Amex, Diners, Discover will are not usually accepted by many ATMs.
Should I exchange money before travelling to Singapore?
If your home country doesn’t use Singapore Dollars (SGD), bringing a small amount of SGD for immediate expenses like public transport or food courts is useful. However, you don’t need to exchange a large amount in advance-SGD is easy to access in Singapore.
ATMs are abundant in Singapore and accept major cards including Visa, Mastercard, Cirrus, Plus, and Maestro. They’re found at airports, MRT stations, malls, and banks. Withdrawals are easy, but check with your bank regarding international transaction fees and daily limits.
Currency exchange in Singapore is efficient and competitive. Avoid exchanging at the airport due to poorer rates. Instead, go to money changers in areas like The Arcade at Raffles Place, People’s Park Complex (Chinatown), or Lucky Plaza (Orchard Road) for the best rates. Licensed money changers are reliable, but always check the rates posted and count your cash before leaving.
Most credit and debit cards are accepted across Singapore-in shops, restaurants, and taxis-but small vendors may prefer cash or QR-based payments. Carrying a mix of payment options is best. If bringing foreign currency to exchange, USD, EUR, GBP, AUD, and JPY are all widely accepted. <h2>Where to withdraw money in Singapore</h2> The best ATMs for foreigners to use in Singapore are those owned by popular banks such as: UOB, Maybank, Citibank, DBS, and POSB.
For a detailed guide, read Cash and ATMs in Singapore.
Discover fee-free and low-fee ATMs on the ATM Fee Saver mobile app for iOS and Android. This app provides ATM PINs and details of leading bank ATMs such as ATM fees and withdrawal limits for foreign cardholders at ATMs in Singapore. Moreover, its simple fee calculator helps you determine exact withdrawal charges. You can also find cash tips and tricks on the app for 160+ countries including Singapore. Download now from the App Store or Play Store.
Where to exchange currency in Singapore
In Singapore, you can exchange currency at authorised currency exchanges, banks, airports, and hotels, the most popular being authorised currency exchanges.
Singapore is one of the best countries in the world for currency exchange, with highly competitive rates, transparent services, and a wide network of licensed money changers. These are commonly found in:
- The Arcade (Raffles Place) – a renowned hub with dozens of money changers offering excellent rates.
- Lucky Plaza (Orchard Road) – popular with tourists and expats.
- Mustafa Centre (Little India) – open 24/7, offers competitive rates even late at night.
- People’s Park Complex (Chinatown) – a top spot for exchanging a variety of currencies.
Licensed money changers must display their license from the Monetary Authority of Singapore (MAS), and many list their buy/sell rates clearly at their counters.
Banks Offering Currency Exchange:
- DBS/POSB
- UOB
- OCBC
While safe and reliable, banks typically offer less favorable rates compared to money changers and may charge service fees.
Pro-Tip: USD, EUR, GBP, AUD, and MYR are widely accepted and easily exchanged. Avoid exchanging at airport counters unless absolutely necessary, as their rates are less competitive.
Pro-tips:
- Stay away from airport exchanges – Poor rates
- Avoid the black market – Be wary of being conned.
- Include fresh notes – If your notes are damaged or dirty, you can expect to pay more or less.
Is carrying money in Singapore safe?
Carrying cash around Singapore is usually a fine. However, you shouldn’t carry around a lot of cash unless absolutely necessary.
Some safety tips for carrying cash while travelling in Singapore are:
- Carry only the cash you need.
- Do not keep all the cash in one pocket or wallet.
- Put some cash in a safety belt or fanny pack.
- Do not flash your cash.
- When paying, do not remove or display your entire cash.
- Keep wallets preferably in front pockets.
- Cross-wear your purses if possible.
- Hold your purses, wallets and bags close and tight on crowded streets and in public trains and buses.
- When withdrawing cash, keep the cash low while you count it so people around don’t see it.
- If you’re dining alone, don’t leave your wallet / bag unattented while you go to the restroom.
- If sitting outdoors in a restaurant, don’t leave your wallets / bags on the table.
Is it better to use debit or credit cards or pay by cash in Singapore
Use a card if it is fee-free i.e. your bank does not charge any fees to swipe the card, when the merchant / POS also does not impose any extra charge to use a card, you need to use the insurance of the card, don’t want to block cash of large purchases and card’s swipe fees are lower than withdrawal fees.
Pay by cash by withdrawing cash from ATM or exchanging currency where – fees on ATM withdrawals are lesser than fees on swiping cards, you don’t want to leave any digital footprint of your expenses, it is convenient and easier to conduct transactions.
