Hi All,
We are planning to visit Singapore by end of this month, I am just wondering where can I buy Singapore Dollar?
Is it good idea to buy from Foreign Exchange /Bank from Australia or better to buy from Singapore?
Please let me know your opinion because Travelx is very expensive.
Thanks
Everforex online rates are excellent IMO. Website is pretty terrible. In branch rates are quite good as well.
From previous experience staying in Singapore for 3 or 4 days at a time, I exchanged AUD from local vendors. Better rates.
Is it too late to also get a Citibank plus card or similar?
Just bring AUD and exchange locally. Asia countries like USD, AUD…so the local currency exchangers will give more, might even be higher than banks.
Just change at the airport there. It will be cheaper than changing at the big 4 banks..
If you intend to go Chinatown in singapore. I'll suggest to change some at the airport then the majority at Chinatown where the rate is much better. The chinatown forex shop is directly beside the Chinatown train station. There is usually a long queue there. If you can't find it just ask around and I'm sure you will get directions. There is only one shop that everyone goes to.
Based on $1000, best bank rate in Aus is = $978 SGD http://bestexchangerates.com.au/?b=AUD&c=SGD&amount=1000
Random search of a Singapore based FX = $1030 SGD http://www.raffles1.net/currency.php
Thank you every one for your help.. I think for safe side I will buy some SGD from Australia and Rest change from Singapore.
Why buy any here. As they say you can exchange when at the airport in Singapore, while maybe not as good as off airport it will be better than any here in Oz.
Much better rates over there than here. Advise you change over there rather than here to get your money's worth.
Just change it at the singapore airport and thank us later…This is coming from all those who have had the experience of travelling there.
Once you leave the plane, there are plenty of exchange booths in Singapore. No need to exchange in Australia
Im like you, and I always like to arrive with some currency when I arrive. Mine is always enough for a trip into the city and the first day, then I figure I can find somewhere to exchange or withdraw. After a long flight, the last thing I want is to spend more time in an airport (though Singapore isn't that far I suppose).
I use Travelex. https://www.travelex.com.au/
I don't live in a major city so I don't have the luxury of heaps of choices. Travellex online don't charge commission, and their rates seam comparable to the ones mentioned here. I'm travelling to Japan and found their current online rate much better than the online rate from travel money oz.
The best part about Travelex is that their branch is on the departure side of the international airport (Brisbane but I'm sure it's other cities too). I order my currency online at least 3 days before departure, and then just pick it up when we get through security.
Not sure they are the absolute best rate, but they are pretty good and the convenience saves me a trip to the city.
You can order and buy all currencies from Australia Post - it costs NOTHING to purchase from them and they give you what ever the exchange rate is on the day of ordering. If you order your currency before 11am they will have it within 24 hours. We have always purchased our currency from them. I would highly recommend using them to convert your AUD to SGD.
Their exchange rate is always 3 to 4 cents in the dollar in their favour.
As suggested earlier, exchange a small amount at the airport on arrival, then head for Chinatown.
Before your next trip, get a Citibank Plus Visa debit card for local currency from ATMs and a 28 Degree Mastercard for international purchases. Both have no fees and give the correct exchange rate.
In addition, after changing money at Chinatown and some exploring, there is this really cool hippy area nearby called Ang Siang Hill (just 15 min walk from the train station) where you get alot of nice pubs and cafes. It is one of the nice places expats hang out. You can kill two birds in one stone when tourist go to Chinatown.
http://www.ladyironchef.com/2014/11/top-5-bars-ann-siang-hil…
http://www.hungrygowhere.com/dining-guide/what-to-drink/17-b…
My suggestion if OP do go to Chinatown for some forex.
Post an add on Gumtree. I exchanged about $1000 for yen and saved a heap. Win win. (Except the banks)
watch out fake note /
Definitely DO NOT buy any here (especially at money changers/banks) and buy at the money changers at Changi Airport when you land. Rates are much better — may not make a huge difference if you're not buying a lot, but why get ripped off?
I used to live in Singapore before moving to Sydney so have done this many times. Even withdrawing S$ at a local ATM in Singapore with your Aussie bank card (eg via Maestro) is much cheaper than the rip-off rates charged by money changers (Travelex has got to be one of the worst) and banks here.
Another thing, to get an idea of what a "good rate" looks like, check out something like XE.com (or download the app) — you'll find that money changers at Changi Airport good enough to not bother with the hassle of searching out the best rates in Chinatown.
I suggest you buy singapore $ when you arrive Singapore airport.
They offer good rate. I had been there last year and its more convenience.
Definitely do not buy in Australia.
Try Aladdin on 2nd floor of Far East Plaza. I have been using him for years.
I have used Travel Money Oz. Their exchange rate are better than banks and no exchange fee like what most banks charge. Although ANZ doesn't charge exchange fee if you have any account with them, but their exchange rate is crap.