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Changi Airport in Singapore offers money exchange services for travellers. While it is possible to exchange USD for SGD at the airport, some sources advise against it due to unfavourable exchange rates. However, others claim that the rates are competitive and not a major rip-off. It is recommended that travellers needing small amounts of cash exchange their money at Changi, while those exchanging larger amounts may find better rates outside the airport.
| Characteristics | Values |
|---|---|
| Using USD at Changi Airport | Not widely accepted in most places. Some high-end hotels, large retailers, and duty-free shops may take USD. |
| Exchange rates at Changi Airport | Generally unfavourable. |
| Recommended currency for use at Changi Airport | Singapore Dollars (SGD). |
| Best places to exchange currency | Money changers outside the airport, such as People's Park Complex, outside Chinatown MRT station, or Raffles Place MRT Station. |
| Alternatives to cash | Credit cards (Visa, Mastercard, Amex), Multi-Currency Accounts (MCAs), or the Travelex Money Card. |
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What You'll Learn
Changi Airport money changers offer convenience and decent rates
Changi Airport in Singapore is a large airport with a variety of shops and services. While prices at the airport are listed in Singapore dollars (SGD), it is possible to pay with other major currencies, including US dollars (USD). However, the exchange rates offered by shops within the airport may not be favourable.
Changi Airport has multiple money changers located within the airport, including Changi Travel Exchange and ChangiFX. These money changers offer a convenient way to exchange currency, especially for travellers who may not have access to other money changers outside the airport. While the exchange rates offered by airport money changers may not be the absolute best available, they are generally considered decent and competitive.
For example, Changi Travel Exchange is an MAS-approved money changer that allows travellers to buy foreign currency online and collect it at the airport. They offer a range of different currencies and convenient pickup locations at the Changi Recommends kiosks in the departures area of Terminals 1 and 3. Their rates are reasonable, and they do not charge additional commissions.
ChangiFX is another option available through Changi Recommends, which allows travellers to prebook their desired currency and exchange rate before arriving at the airport. This service is currently only available for Singaporean residents purchasing foreign currency, with a minimum exchange amount of $300.
Overall, while airport money changers may not offer the absolute best exchange rates, they do provide a convenient and hassle-free option for travellers, especially those who may not have access to other money changers outside the airport. The rates offered by Changi Airport money changers are generally considered decent and competitive, making them a viable option for those seeking convenience and ease.
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Exchange rates at shops in the airport are expensive
While it is possible to use USD at Changi Airport, it is recommended that you exchange some money at the airport for convenience. However, it is important to note that exchange rates at shops in the airport are generally more expensive than those offered by money changers outside the airport.
Airports are known for having unfavourable exchange rates, and Changi Airport is no exception. While the exchange rates at Changi Airport may not be as unfavourable as those at other airports, they are still higher than what you would find at money changers in the city centre.
If you are looking for competitive exchange rates, it is recommended to visit a shopping mall known as The Arcade, located directly above Raffles Place MRT Station. There are more than a dozen money changers in operation, mostly on the second floor, offering better rates than those at the airport.
Additionally, if you plan to use a credit card, it is advisable to check with your bank about the exchange rate they charge. In some cases, using a credit card for purchases may offer a better exchange rate than exchanging cash at the airport.
Overall, while Changi Airport offers a convenient option for exchanging currency, it is important to be aware that the exchange rates at shops in the airport are typically more expensive. For better rates, consider visiting money changers outside the airport or utilising other payment methods, such as credit cards, depending on the associated exchange rate.
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You can use credit cards at most places in Changi Airport
If you're travelling through Changi Airport, it's a good idea to have some local currency on hand. While you can use USD at the airport, the exchange rates may not be favourable. However, you can use credit cards at most places in Changi Airport, making it convenient for travellers who may not have the local currency.
Changi Airport has a dedicated payment service called Changi Pay, which allows you to make payments using your mobile phone. Changi Pay is integrated with Liquid Group's payment solutions, ensuring that your credit card information is secure and compliant with industry standards. You can add up to 20 credit or debit cards to Changi Pay, earning cashback and points with each transaction. There are no transaction limits imposed by Changi Pay, but your bank may have limits on your credit card spend.
When using credit cards at Changi Airport, it's important to consider the exchange rates and potential fees involved. While credit cards are widely accepted, you may find that certain small shops or hawker centres may only accept cash. Additionally, it's always a good idea to inform your bank about your travel plans to avoid any unexpected blocks on your card.
Overall, Changi Airport offers a range of payment options, including the use of credit cards at most places. By planning ahead and understanding the fees and exchange rates, travellers can make informed choices about their spending during their time at Changi Airport.
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US dollars are not widely accepted in Singapore
While US dollars may be accepted at Changi Airport outlets and some large department stores and shopping malls in Singapore, it is not a widely accepted currency in the country. It is recommended that you exchange your USD for Singapore dollars (SGD) to get the best rates and avoid paying more for goods and services.
Singapore has its own currency, the Singapore dollar, which is the primary currency used for transactions in the country. While some establishments may accept foreign currencies such as USD, this is not guaranteed, and you may be subject to poor exchange rates. It is always a good idea to have some local currency on hand to avoid any issues or inconveniences when making purchases.
Money changers are readily available at Changi Airport and throughout Singapore, making it convenient for travellers to exchange their USD for SGD. These money changers often offer competitive rates, and you can easily compare rates between different providers. It is generally recommended to use money changers instead of exchanging large amounts of money at airports, as airport exchange rates tend to be less favourable.
Additionally, using credit or debit cards for purchases and ATM withdrawals is also a viable option in Singapore. Major credit card networks such as Visa, Mastercard, and American Express are widely accepted, providing flexibility and convenience during your stay. However, it is essential to check with your bank about any applicable fees or charges for international transactions or ATM withdrawals.
By exchanging your USD for SGD at competitive rates and utilising the widespread acceptance of electronic payment methods, you can ensure that you are getting the best value for your money during your time in Singapore.
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Money changers outside the airport may offer better rates
While it is possible to exchange your USD at Changi Airport, you may get a better rate at a money changer outside the airport. Money changers at airports generally offer less favourable exchange rates than those outside airports.
One source suggests that the money changers in Singapore do not charge commissions and the airport ones are run by proper full-licence reputable banks, so they won't rip you off. However, another source states that airport exchange rates are terrible and worse than using bank cards and incurring foreign currency fees.
If you are staying near Little India, you can try the Mustafa Centre, which has its own money changer and offers competitive rates. There are also a few competitive money changers at People's Park Complex, outside Chinatown MRT station.
If you are looking for a money changer with the best rates, try the Arcade at Raffles Place MRT Station. They have a lot of USD/SGD money changers, and you are sure to get a good rate.
It is worth noting that you may not need much cash in Singapore, as most proper shops will accept credit cards. However, hawker centres and some small kiosk shops may only take cash.
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Frequently asked questions
Yes, you can use USD at Changi Airport, but it is not recommended as the exchange rate is unfavourable.
You can exchange your USD at the money changers in the public and transit areas of Changi Airport's terminals.
The exchange rate varies, but as of February 2024, it was 1 USD to 1.34 SGD.
Yes, you can use a credit card or a Multi-Currency Account (MCA) such as the DBS My Account, which offers zero foreign exchange fees and attractive exchange rates on 12 foreign currencies.
Exchanging currency at Changi Airport is convenient and straightforward, especially if you are in a rush. However, it is generally recommended to compare exchange rates and consider other options, such as using a credit card or MCA, to get the most favourable rates and avoid unnecessary fees.
