Going across the causeway has always been a pastime for many Singaporeans. After all, who doesn’t want cheap groceries, massages and shopping?
But where can we get such a good exchange rate to change your SGD to MYR? Read on to find out!
TL;DR: Best Money Changers For Malaysian Ringgit
Best Money Changers For Malaysian Ringgit
| Money Changer | Rate (1 SGD=X MYR) | Location | Opening Hours |
|---|---|---|---|
| iChange (Digital) | 3.5089 | In-app | Nil |
| Rahim Money Changer (Wisma Atria) | 3.4905 | 435, Orchard Road, #01-18A, Wisma Atria, Singapore 238877 | Daily (10am to 9pm) |
| Shafeek Exchange | 3.4904 | 930 Yishun Ave 2, #01-01, Northpoint City, North Wing, S769098 | Mon - Sun (10am - 9pm), Fri (Closed for prayer at 12:45pm - 1:45pm) |
| JL Union Garments Enterprises (Clarke Quay) | 3.4901 | 6 Eu Tong Sen Street, #01-73, The Central, S059817 | Mon - Sun (11am - 10:30pm) |
| Humayun's Money Changer | 3.4900 | 810 Geylang Road #01-59 City Plaza S409286 | Mon - Fri (11am - 8pm), Sat, Sun, PH (11am - 5.30pm) |
| Fiat Money Changer | 3.4880 | 11 Collyer Quay, The Arcade #02-37, S049317 | Mon - Fri (9 am to 6 pm), Sat (9 am - 3 pm), Sun (Closed) |
| Vision Exchange Money Changer (Tampines) | 3.4850 | Blk 503 Tampines Central 1, #01-309B, S520503 | Mon - Sat (10:30am - 9pm), Sun & PH (11am - 8pm) |
| Apollo Exchange | 3.4850 | 98 Syed Alwi Road, Singapore 207674 | Daily (9.30am - 1am) |
| Rosemin Store Money Changer | 3.4850 | 17A Jurong Gateway Road, #01-15, S608513 | Daily (7:30am - 9:30pm) |
| Capital Forex Pte Ltd | 3.4840 | #01-78/79 Le Quest, 4 Bukit Batok Street 41, Singapore 657991 | Daily (10am - 9.30pm) |
| Kaka Money Changer | 3.4800 | 71 Kallang Bahru, #01-531A, Singapore 330071 | Daily (10.30am - 8.30pm) |
Source: CashChanger. Rates are dynamic and will change. Accurate as of 30th April 2024, 10am.
As you can tell, iChange, a multi-currency card based in Singapore (think YouTrip and Revolut but with the ability to store Ringgit), offers the most competitive rate (even higher than Google’s rate)! However, we know that many Malaysian stores only accept cash. Thus, one method would be to change some money on the iChange app and use its card to pay at malls while bringing cash for other purchases.
If you’re new to exchanging money, check out our money changer guide on how to look at buy/sell columns, when is the best time to exchange and more!
Money Changer Hubs
If you happen to be living near the above-mentioned money changers, lucky you! As for the rest of us, unless we are exchanging an absurd amount of money, it won’t make much sense for us to travel to a specific money changer to get the best rates as we also have to factor in transport costs and time taken.
Thus, here are some specific areas in Singapore with a high concentration of money changers that you could check out if you’re in the area.
The Arcade At Raffles Place
First up, to the surprise of no one, is The Arcade at Raffles Place! If you’re an office worker in town, this is THE best spot to exchange your Singapore Dollar for Malaysian Ringgit after work. It is also home to Fiat Money Changer (11 Collyer Quay, The Arcade #02-37, S049317), which appeared third on our list, and plenty of other reputable money changers with one of the most competitive rates.
That said, as rates are dynamic, your best bet will be to go down to compare for yourself!
Address: 11 Collyer Quay, Singapore 049317
Lucky Plaza
Planning to shop at Orchard Road and then head to JB? Make sure to stop by Lucky Plaza to check out the best money changers there! While this mall doesn’t have electronic sign boards to show you exchange rates, it’s best that you ask for the rates and then compare around before committing to any exchanges.
According to other sources, Rabi Trading (304 Orchard Road, Lucky Plaza #01-37, S238863) is a go-to for airline crew members to exchange currencies. So you could go to them first to enquire and get a benchmark.
Address: 304 Orchard Road, Singapore 238863
Mustafa Centre
Also known for its cheap shopping (by Singapore standards), Mustafa Centre once housed the only 24/7 money changer, Mustafa Foreign Exchange (5 Verdun Road, #01-02/03, Spa Building, S207274). Sadly, the opening hours have been shortened, though last-minute travellers can still visit till late at 11pm!
Besides that, there are also several money changers that you can pick and choose from in Mustafa Centre. If you’re good at bargaining, I’ve heard that it is also possible to do so here too! But don’t say that I say one ah.
Address: 145 Syed Alwi Road, Mustafa Centre, Singapore 207704
Parkway Parade
East-siders have a pretty great place to compare money changers at Parkway Parade shopping centre. Like Mustafa, you can hone your bargaining skills to get a better rate here.
What’s more, most of the reputable money changers are located at level one so you don’t have to search up and down the six-story building.
Address: 80 Marine Parade Road, Singapore 449269
People’s Park Complex
Last but not least, we have People’s Park Complex that sits just between Chinatown and Outram Park MRT stations. There are plenty of money changers here and one of the more popular ones would be Crante Money Changer (1 Park Road, #01-28, People’s Park Complex).
And guess what? Bargaining is acceptable here too! Just make sure to not show your cash until you have confirmed the rates.
Address: 1 Park Road, Singapore 059108
