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Top money changers in Tampines
Find the best deal when you're exchanging foreign currency in Tampines.
Located in the eastern part of Singapore, Tampines is a densely populated HDB estate bounded by neighbouring regions such as Bedok, Paya Lebar, Pasir Ris and Changi. If you’re a resident of this region, or you’re staying here during your visit to Singapore (especially since it is only a stone’s throw from Changi Airport), there are a few notable money changers amidst the famous 24-hour eateries and shopping malls if you need to exchange foreign currency.
Find the most reliable and competitive foreign currency exchange in this eastern heartland with our guide.
Who can change my money in Tampines?
1. Ishwarya Money Changer
Ishwarya money changer is located within Tampines mall, which is conveniently situated next to Tampines MRT station and bus interchange. It’s is open every day of the week from 10am to 9pm.
2. Money Changer – Ilhan International Pte Ltd
Ilhan International is located at 248 Simei Street 3 #01-112, which is only a short walk from Simei MRT. It is open from Monday to Sunday, from 8.30am to 9.30pm.
3. Bon Voyage Money Changer & News Shop
Bon Voyage Money Changer & News Shop is another money changer near Tampines MRT station and bus interchange. It’s located at 20 Tampines Central 1, Singapore 529538.
Tips for getting the best deal when exchanging money
- Look out for hidden fees. If the service provider says that they don’t charge any fees for the transfer, it typically means that there’s a hidden margin added to the exchange rate. A less competitive exchange rate may cause you to lose more money than paying a nominal fee. So make sure to ask for the fees upfront.
- Shop online for rates. Most specialist money transfer providers have a calculator on their websites that shows how many Singapore dollars you can exchange with your foreign currency or vice-versa upfront. With the Internet, you get an idea of the rates available before heading down to your nearest money exchange agent.
- Be aware of the current mid-market rate. Always find out what is the current mid-market rate through a quick search on Google or Reuters before heading down to the money changers. This way, you can easily identify the companies charging the best (or worst) margin.
- Pay with a bank transfer or cash. Whenever possible, avoid paying for your currency with a debit or credit card, as you may be charged for a cash advance rate and fee.
- Avoid using ATMs. Withdrawing cash from foreign ATMs may be convenient and tempting, especially if you need cash urgently. However, note that foreign ATMs typically charge a flat fee around S$5 to S$15 per transaction. Always try to anticipate how much you need and exchange your currency prior to your trip to avoid high bank fees and unfavourable exchange rates.
- Pre-purchase your currency. If you’re not in a hurry, consider buying foreign cash from services like the ones listed above. Buying currency in advance gives an added advantage to observe the exchange rates and lock in the one you want.
- Steer clear from airport vendors. If you need cash before you arrive at the airport, plan ahead by pre-buying currency to avoid high prices.
- Ask for a price match. If you’ve found a more favourable deal from another provider, don’t hesitate to bargain. There’s no harm in trying and you might even walk away with a better deal.
Compare money transfer services
If you need to send money to a recipient overseas, whether to their bank account or a cash pick-up location, take a look at some services that can help you out below.
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
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