Wondering if upon arrival, the two banks that are at the far end where you pick you your luggage off the belt offer good rates or should I just exchange enough to get me into town?
On the subject of exchanging money at the airport - is there a difference in converting USD to SGD by using the banks located at the arrival lobby or by going upstairs and using the banks at the departure level? Once in town, are there better places to exchange currency than others?
Banks better than money changers or vice versa? We're staying in the Marina area. Honestly, it isn't really going to be much difference or maybe not at all at which money exchange counter at the airport. They are very competitive and would likely to match each other's rates. You can check between the 2 that are next to each other at the airport. You can compare the money exchange counters at the transit area as well, before immigration.
There is a money exchange shop at Suntec City which is quite popular. Their rates are fairly good, and usually there is a queue for money exchange during office hours lunchtime. Banks usually offer a lower rate and likely to charge a commission for the transaction.
Money changers in Singapore do not charge a commission for money exchange. What level is Fountain Money Changer on and do they have a website where they publish their rates?
Hi Pam, i have changed at Fountain and Mustafa, Mustafa offers better rates! As Kevin rightly says there's not much difference at all wherever you exchange dollars or GBPs. Everywhere the rates are so poor compared to say two years ago.
You're not going to get rich on the difference wherever you go, but the official money changers are almost always better then the banks. Two years ago we were getting more than to the GBP, now it's down to , similar to last year.
For a brief period before Christmas it went as high as If you have access to a computer you can check ''Forex'' on the ''Mustafa's'' web site, and that will give you a guide as to what the best rates are likely to be. For sure don't change in the hotel, they can and are often cents off the ''best'' rate. Strangely, in Phuket Thailand , the opposite seems to be true - better rates for traveler's cheques. I don't believe they have a website. They are so busy with the crowds for money exchange I don't think they would bother with a website for it.
In Singapore, Ground Level of most buidlings if not all is known as "1st Floor". So in elevators you can hardly find a "G" button, it would be indicated as "1" button. It hardly worthwhile running around to compare the different money changers. Using cash would be the best.
I know there is a risk. So you just have to be very careful. If they do they would like charge a commission for the exchange. Yes, usually TC rates aren't as good as cash. Honestly I would not wait in the line for half an hour to get to the counter , as the place is obviously VERY popular with tourists.
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