Jazmin Li
Singapore's Changi Airport is a popular international hub, with many travellers passing through on their way to other destinations. The airport offers a variety of shopping and dining options, but what currency is accepted here? Singapore's official currency is the Singapore Dollar (SGD), and this is the currency that prices will be listed in at the airport. However, Changi Airport accepts all major currencies in its retail outlets, including Euros, AUD, CAD, and USD. Credit cards from major providers are also accepted almost everywhere in Singapore, and there are money changers in the airport that do not charge a commission for foreign currency exchange.
| Characteristics | Values |
|---|---|
| Official Currency | Singaporean Dollar (SGD) |
| Other Accepted Currencies | Popular foreign currencies like Euros, AUD, CAD, US$ etc. |
| Credit Cards | Accepted almost everywhere on the island |
| GST Refunds | Available at multiple places around Changi Airport |
| Money Changers | Available at Changi Airport |
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What You'll Learn
- Singapore Changi Airport accepts major currencies at retail outlets
- The official currency of Singapore is the Singapore Dollar (SGD)
- The Brunei Dollar (BND) is also considered legal tender in Singapore
- Singapore Airport has money changers that do not charge a commission for foreign currency exchange
- Credit cards from major providers are accepted almost everywhere in Singapore
Singapore Changi Airport accepts major currencies at retail outlets
Changi Airport's retail outlets accept major currencies, including Euros, AUD, CAD, and USD. While prices at the airport will be in Singapore dollars, you can pay with most major currencies, albeit at unfavourable exchange rates.
If you want to pay in cash, it is recommended to change your money into Singapore dollars at the airport's money changers, which are operated by banks like American Express and UOB. These money changers do not charge a commission for foreign currency exchange, and they generally offer the best exchange rates. However, as some money changers offer better rates than others, finding the best rate can be time-consuming. Additionally, there is the security concern of carrying large amounts of cash.
Alternatively, credit cards are widely accepted in Singapore, and you can use them for duty-free shopping at Changi Airport. If you plan to use a credit card, check with your bank regarding the exchange rate charged to ensure a better bargain. It is advisable to notify your bank about your travel plans to avoid any confusion with fraudulent activity and a potential card freeze.
Changi Airport also has ATMs where you can withdraw cash using your credit or debit card. However, be mindful of foreign ATM withdrawal fees and currency conversion fees that may apply.
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The official currency of Singapore is the Singapore Dollar (SGD)
Singapore Changi Airport accepts all major currencies in its retail outlets, but the exchange rate is not always favourable. It is recommended to use a credit card for purchases under S$50. Money changers in the airport do not charge a commission for foreign currency exchange, but the exchange rate offered by shops can be expensive. It is worth checking the exchange rate charged by your bank before deciding how to pay.
If you are entering Singapore with physical currency or bearer negotiable instruments (CBNI) exceeding SGD20,000 or its foreign currency equivalent, you must submit a completed NP727 form online within 72 hours before your arrival in Singapore.
While card is a popular payment method in Singapore, it is recommended to always carry some cash. Singapore Dollars will be needed for purchases where card is not accepted. ATMs are widespread across the island, and can be found at banks, MRT stations and shopping centres. However, some local ATMs charge operator fees of up to S$5 per transaction.
When shopping in Singapore, the 7% Goods and Services Tax (GST) can be refunded at the international airport before you return home. To be eligible, no more than S$500 in taxes may be refunded per person, and the items must have been purchased in Singapore within the last two months.
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The Brunei Dollar (BND) is also considered legal tender in Singapore
Singapore's official currency is the Singapore dollar (SGD). However, the Brunei Dollar (BND) is also considered legal tender in Singapore. This is due to the Singapore-Brunei Currency Interchangeability Agreement (CIA) signed in 1967, which allows for the use of Brunei notes and coins in Singapore at no extra charge and without the need to change to Singapore dollars. This agreement was the result of the strong and close ties between the two countries, which date back to the early 20th century when they both used the Straits Settlements currency notes issued by the Board of Commissioners of Currency for the Straits Settlements.
The Singapore-Brunei CIA is the only such arrangement in Asia, and it has facilitated the use of the Brunei Dollar in Singapore on a 1:1 exchange rate with the Singaporean Dollar. This means that $1 Brunei Dollar is equal to $1 Singapore Dollar, making it convenient for those travelling between the two countries.
While the Brunei Dollar is considered legal tender in Singapore, it is important to note that some merchants or cashiers may be unfamiliar with the currency and may need to be reminded of the acceptability of the Brunei Dollar under the CIA. Additionally, there have been reports of some merchants refusing to accept Brunei notes, and in such cases, travellers can report these merchants to the appropriate authorities.
When travelling to Singapore, it is always a good idea to have some local currency on hand, especially for smaller purchases. Changi Airport, Singapore's international airport, accepts all major currencies in its retail outlets, but the exchange rate may not be favourable. Money changers at the airport, operated by banks like American Express and UOB, offer foreign currency exchange services with generally good exchange rates and no commission fees.
Overall, the acceptability of the Brunei Dollar as legal tender in Singapore is a testament to the strong relationship between the two countries and provides convenience and flexibility for travellers moving between them.
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Singapore Airport has money changers that do not charge a commission for foreign currency exchange
Singapore's official currency is the Singapore dollar (SGD), which has been the currency since the nation became independent from Malaysia in 1965. The Brunei dollar (BND) is also considered legal tender in Singapore, operating on a 1:1 exchange rate with the Singapore dollar.
Changi Airport in Singapore has money changers that do not charge a commission for foreign currency exchange. They are operated by banks such as American Express and UOB. While the exchange rate at the airport may not be the best, it is a straightforward option if you need to exchange your money quickly.
If you are looking for the best exchange rates, you may want to consider exchanging your money at The Arcade at Raffles Place, People's Park Complex, or Mustafa Centre. These locations are known for offering good rates. However, keep in mind that finding the best rate can be time-consuming, and you will need to consider the security implications of carrying large amounts of cash.
It is worth noting that Singapore is a largely cashless society, and most retailers and restaurants will accept card payments. Credit cards from major providers are accepted almost everywhere on the island. However, if you plan to use a debit or credit card, be sure to notify your bank about your travel plans to avoid any issues with fraudulent activity freezing your card. Additionally, check with your bank about any fees associated with international transactions and foreign ATM withdrawals.
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Credit cards from major providers are accepted almost everywhere in Singapore
The official currency of Singapore is the Singapore dollar (SGD). This has been the currency of Singapore since the nation became independent from Malaysia in 1965. The Brunei Dollar (BND) is also considered legal tender in Singapore, operating on a 1:1 exchange rate with the Singaporean Dollar.
Singapore locals prefer cashless payments and they mostly use cards for their day-to-day spending. Credit cards are widely accepted in restaurants, bars, shops, hotels and taxis in Singapore. Credit and debit cards are the most used payment method in Singapore, with over 95% of consumers using them. Contactless cards are also becoming increasingly popular in Singapore, with around 82% of consumers using them. The limit for contactless transactions in Singapore is 200 SGD, with anything over that requiring a PIN.
If you are using a card linked to a Multi-Currency Account (MCA), you should opt to pay in local currency to avoid additional costs. You may also be given the option to pay in your "home" currency or the "local" one. In this case, the local currency would be SGD.
While cards are widely accepted, it is still recommended to carry some cash with you, as some places may not accept card payments. Hawker centres, for example, usually only accept cash, but some may take digital payments. Additionally, some taxis might not accept cards, so it's always good to have some cash as a backup.
If you are travelling with a large amount of cash, you will need to submit the SG Arrival Card (SGAC) and the necessary Physical Currency and Bearer Negotiable Instruments (CBNI) declarations electronically. This is required if you are carrying more than S$20,000 in total value of CBNI, or its equivalent in a foreign currency.
Changi Airport in Singapore accepts all major currencies in its retail outlets, but the exchange rate is not always the best. Money changers in the airport do not charge a commission for foreign currency exchange, so this may be a better option.
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Frequently asked questions
Singapore's official currency is the Singapore Dollar (SGD). However, Changi Airport accepts all major currencies in its retail outlets.
While Singapore Airport accepts multiple currencies, the exchange rates offered by shops are often quite expensive. It is recommended to use a credit card or a debit card linked to an MCA and opt for the local currency to avoid additional costs.
Using a card is more convenient and secure than carrying large amounts of cash. It also saves you the hassle of finding the best exchange rate.
Your home bank may charge fees for international transactions, including foreign ATM withdrawal fees and currency conversion fees. It is recommended to check with your bank about these charges before your trip.
Yes, you can buy duty-free items at the airport with various currencies, and the exchange rates are displayed at every shop. Alternatively, you can use a credit card (Visa/MasterCard/Amex).
