Singapore Currency: Exchange in Australia or Singapore?

by M Newton
(Darwin, NT, Australia)

Hi, we are 2 Australians intending to travel from Darwin to Singapore on a 3 week holiday in August. What currency should we have on arrival? Thank you.

Margaret Newton

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Singapore Currency: Exchange in Australia or Singapore?

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Jun 30, 2009

Do Australian money changers charge an admin fee?
by: Gabriel Tan

Hi Margaret

You can only use Singapore currency in Singapore.

This begs the question:

Should you get your Singapore dollars in Darwin or in Singapore?

When I was in Melbourne a few years back, the money changers there slapped a A$20 admin fee for each transaction I made.

If this is the case in Darwin, I suggest that you get ready your cash in Australian dollars and exchange them in Singapore. The money changers in Singapore generally do not charge an admin fee.

There are money changers at every terminal of Singapore Airport. But you're likely to get a marginally better rate when you change your money in town.

Credit cards are commonly accepted here. So that's another option.

Have a good trip.

Jul 30, 2009

Swiss Francs to Singapore Dollars - Who's Got the Better Rates?
by: Anonymous

I am currently in Geneva and have CHF with me.

I am confused about whether I should change it here into Singapore Dollars to get a better rate? Or should I come to Singapore International Airport to change it to get a better rate to shop at the duty free shops there before catching my flight again the same day?

Currently in Geneva the CHF rate to Singapore is .75

So CHF 1,000 = Singapore Dollar 1,333.

Is this rate better than to change CHF 1,000 into Singapore Dollars at the Singapore International Airport?

Please respond.

Thanks
Tom

Jul 31, 2009

Deciding on Where to Exchange Currencies
by: Gabriel Tan

Hi Tom

I'm reluctant to provide a specific exchange rate here, simply because it'll have moved a bit by the time you arrive in Singapore. But it's likely that you'll get S$1-2 difference for every 100CHF you exchange (Geneva vs Singapore).

What I suggest you look into is whether they charge an administrative fee (such as in some parts of Australia) or a percentage-based service fee (such as in some parts of Europe). These fees are likely to eat into the value of your cash.

Generally, money changers in Singapore do not charge admin/service fees. So if they charge a fee in Geneva, it's likely you'll get a better exchange rate in Singapore.

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