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Money changers in Woodlands
Find the best deal when you're exchanging foreign currency in Woodlands
Woodlands is a vibrant residential district located in the north region of Singapore, connected to Johor Bahru – Malaysia’s southernmost city. With thousands of people commuting between the two countries through the Johor-Singapore Causeway every day, it’s no surprise that there a wide array of reliable and licensed money changers in this hood.
Find out where you can find the most competitive foreign exchange deals in Woodlands.
Who can change my money in Woodlands?
1. Fong Lai Money Changer
Fong Lai money changer is located near Woodlands Checkpoint, which is a convenient option to exchange SGD to MYR or vice versa. They have a range of other popular currencies available as well. Fong Lai money changer is open 24 hours from Monday to Saturday.
2. Alkaf Foreign Exchange
You can find Alkaf Foreign Exchange at the basement of Causeway Point, which is located next to Woodlands MRT station. Opening hours from 11am to 9pm daily.
3. Sing Exchange Money Changer
Sing Exchange Money Changer is located at Marsiling Mall, which is situated between Marsiling and Woodlands MRT. Opening hours vary on different days of the week.
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 exchange, it generally means that there’s a hidden margin added to the exchange rate. A less competitive exchange rate may cost you more than paying a nominal fee. So make sure to ask for the fees upfront.
- Shop online for foreign currency. Most money transfer providers embed a calculator on their websites that allows you to check how much foreign currency you can exchange with your currency upfront. By browsing online you can get an idea of the rates available before you head to your nearest money exchange agent.
- Know the current mid-market rate. Always find out what is the mid-market rate is for the day through a quick search online so that you can spot the companies charging the best (or worst) margin easily.
- Pay with a bank transfer or cash. Whenever possible, avoid paying for your currency with a debit or credit card. Paying with plastic overseas may be deemed as a cash advance rate and could cost an extra 2-5% in fees.
- Avoid using ATMs. You typically need to pay a flat fee around S$5 to S$15 every time you make a withdrawal from foreign ATMs. Always try to anticipate how much you need and exchange sufficient currency prior to your trip to avoid high bank fees and unfavourable exchange rates.
- Pre-buy your currency. If you’re not in a rush, consider pre-buying foreign cash from services like the ones listed above. This way, you can benefit from the added advantage of observing exchange rates and lock in the one you want.
- Steer clear from currency exchange vendors at the airport. Airport vendors tend to charge high fees and offer less competitive rates. If you need cash before you arrive at the airport, plan ahead by pre-buying currency if possible.
- Ask for a price match. If you’ve found a more competitive deal from another provider, don’t hesitate to barter politely. 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 overseas, 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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