Currency in Singapore: Singapore Dollar (SGD)
Singapore's currency is the Singapore dollar (SGD), written S$ and divided into 100 cents. Coins come in 5, 10, 20 and 50 cents and S$1; notes in S$2, S$5, S$10, S$50 and S$100, with larger S$1,000 notes rarely seen in daily life. The old S$10,000 note, once the world's most valuable, was discontinued, so you won't come across one. A quirk worth knowing: the Brunei dollar is accepted at par with the Singapore dollar under a long-standing currency agreement, though in practice it's banks rather than ordinary shops that are obliged to take it.
To orient yourself on prices: a meal at a hawker center runs about S$4 to S$8, a local kopi (coffee) S$1.50 to S$2, a single MRT ride S$1 to S$2.50, and a taxi flag-down around S$4. Singapore isn't cheap overall, but everyday eating and getting around are very reasonable, and the converter on this page shows today's rate for your currency.
So what does that buy you? US dollars are worth about S$1.28 each today, and the Singapore dollars have traded between S$1.26 and S$1.31 to the dollar over the past year. The card below shows whether now is a good time to convert into Singapore dollars, and the chart tracks how the dollar has held up against it over the past five years.
So S$10 is about $7.84, and S$100 is $78.36.
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Not a great time to convert.
The Singapore dollars are near their strongest of the past year against the dollar, so you get less for your money than usual. Twelve-month average: S$1.28.
Paying with card in Singapore
Your card does almost everything here. Visa and Mastercard are accepted nearly universally, American Express widely (a little less so at the smallest stalls), and contactless is the norm, so Apple Pay, Google Pay and Samsung Pay work anywhere a reader does. Even the hawker centers, once strictly cash, now have many stalls that take cards or QR. For a normal trip you can put nearly everything on a card and rarely reach for cash.
Where that pays off most is transport: through SimplyGo, you tap a foreign contactless Visa, Mastercard or Amex, or your phone, straight onto the bus and MRT gates, with the fare deducted automatically and no separate travel card or top-up needed. Foreign cards carry a small daily admin fee for the convenience. Fares are distance-based, not flat, so tap the same card both when you enter and when you leave; forget to tap out and you're charged the maximum fare. If you'd rather, a dedicated EZ-Link card or the flat-rate Singapore Tourist Pass are alternatives, covered below.
On costs: Singapore merchants generally don't surcharge for cards, so the price you see is the price you pay. The charge to watch is your own bank's foreign-transaction fee on overseas spending, typically up to about 3%, which a good travel card avoids. Both debit and credit cards are fine; a debit card is what you'll use at ATMs, while a fee-free travel credit card usually adds purchase protection on top.
Always pay in Singapore dollars. At any card terminal or ATM, decline the offer to be charged in your home currency. Paying in SGD lets your card set the exchange rate, which almost always beats the machine's "dynamic currency conversion" by a few percent.
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Cash in Singapore
Singapore is genuinely a place you can visit almost cashless, but a little cash still smooths the edges. Keep around S$50 to S$100 on you and you're covered: it's for the handful of hawker stalls and drink stands that are still cash-only, wet markets, small independent shops, temple donation boxes, and the odd older taxi (though nearly all taxis and every ride-hailing app take cards now). You won't need much more than that day to day.
- Most hawker stalls now take cards or QR, but not all. The big centers are increasingly cashless, yet you'll still meet a stall that only wants notes, so carry a few small ones for lunch.
- Keep small notes and coins. S$2, S$5 and S$10 notes and a few coins handle stalls, markets and donation boxes far better than a S$50; break big notes at a convenience store or when you pay for something larger.
- Withdraw from a big-bank ATM, not a standalone machine. DBS/POSB, OCBC and UOB machines are everywhere, take foreign cards and show any fee before you confirm. More on this in the ATM section below.
- You don't need to change a fortune. Because cards cover so much, resist pulling out a big wad. A modest amount of cash plus a contactless card is the whole toolkit here.
- Cash is safe to carry. Singapore has very low street crime, so the usual worries about carrying notes barely apply, but there's simply little need to hold much.
Best ATMs in Singapore (surcharge by bank)
Getting cash is easy: in Singapore foreign cards work at essentially every bank ATM, with English menus as standard, so it's never a hunt. Whether you pay a local fee depends on your card and network, but the big local banks generally don't add a machine surcharge of their own, and if any fee does apply it's shown on screen before you confirm. The cost most people actually pay is their own bank's foreign-withdrawal fee, charged back home.
The fee that actually bites is usually your own bank's foreign-ATM or foreign-transaction charge, not the Singapore machine, which is exactly why a fee-free travel card pays off here. As at any terminal, still decline the machine's offer to bill you in your home currency and take Singapore dollars instead.
Use one of the big three banks. DBS/POSB, OCBC and UOB ATMs are on nearly every street and in every mall and MRT station, and they take foreign cards without fuss. If you happen to bank with HSBC, Citibank or Standard Chartered at home, seek out their Singapore ATMs, which can save your home bank's foreign-ATM fee. Avoid the independent standalone machines in some shops and hotels, which are the ones that do charge an access fee and push DCC hardest.
- DBS / POSB Usually none The biggest network by far, in malls, MRT stations and on the street everywhere. Foreign Visa, Mastercard, Plus and Cirrus cards work fine, with English menus throughout. The big local banks generally don't add their own surcharge on a foreign withdrawal; if any fee applies it's shown before you confirm, and withdrawals are often capped around S$1,000.
- OCBC Usually none The second-largest network, just as widespread and reliable for foreign cards. Like the other big banks it doesn't typically add a machine surcharge; a per-withdrawal cap around the S$1,000 range applies.
- UOB Usually none The third of the big three local banks, everywhere in the city. Takes foreign cards without fuss, and anything charged (usually your card network or home bank, not the machine) is displayed before you accept.
- Foreign banks (HSBC, Citibank, Standard Chartered) Often free If you bank with one of these at home, using their Singapore ATMs can save your home bank's foreign-ATM fee, and some belong to global ATM alliances. Worth seeking out if you hold one of their cards.
- Standalone / convenience-store ATMs Fee likely Independent machines in some malls, hotels and shops are the ones that do tend to charge an access fee, and they push dynamic currency conversion hardest. Use a big-bank ATM instead where you can.
- Foreign cards work almost everywhere. Unlike some countries where local bank ATMs reject foreign cards, Singapore's accept Visa, Mastercard, Plus and Cirrus, with English menus, so any big-bank ATM will do.
- Any fee is shown before you confirm. The big local banks usually don't add a surcharge of their own; if one does appear, you'll see it on screen and can cancel and try another bank.
- Withdrawals are often capped around S$1,000 per transaction. If you need more, you may have to withdraw twice, so pull a sensible amount at once to spread any flat fees your home bank charges.
- Your travel card may cap free withdrawals. Cards like Wise and Revolut give a set amount of fee-free ATM withdrawals a month, then add their own percentage, so fewer, larger withdrawals cost less overall.
- Skip the standalone machines. The independent ATMs in some hotels and shops are the ones most likely to add an access fee and push dynamic currency conversion, so head for a big-bank machine instead.
Updated August 2026
Exchanging cash in Singapore
Here's where Singapore genuinely differs from most destinations: changing cash is worth it. The city's licensed money changers compete hard and offer rates that comfortably beat the airport, the hotels and a traditional bank card, and often match or beat even a good travel card. So if you like carrying some cash, this is one of the few places it actively saves you money.
- Head to a money-changer cluster, not the airport. The Arcade at Raffles Place packs dozens of changers into one building, so competition keeps rates sharp; Mustafa Centre in Little India and Change Alley near Raffles Place are the other well-known spots. Rates at these beat Changi's arrival counters.
- Compare a couple of windows and ask for the rate on your amount. Rates are posted and vary slightly between changers; for larger sums (roughly S$1,000 and up) you can often ask for a better rate, and it's normal to.
- Bring clean, newer notes. Changers can refuse or discount torn, marked or old-series foreign notes, so hand over notes in good condition to get the posted rate.
- Count your money before you leave the window. Standard practice anywhere you change cash: check the amount against the rate on the spot.
- You still don't need much. Even with good rates, cards cover so much of Singapore that changing a moderate amount is plenty; there's no need to convert your whole budget to cash.
So the honest advice flips the usual rule: in Singapore a licensed money changer is a genuinely good option for cash, not a last resort, and its rate stands up well against the ATM and most cards.
Paying by QR (PayNow) in Singapore
Singapore's home-grown digital payments are everywhere, but most are built for residents with a local bank account. PayNow (bank-linked instant transfers) and the unified SGQR merchant code, along with the local NETS network, are what locals tap and scan, and as a tourist you generally can't set them up without a Singapore bank. You don't need to, though: contactless cards and phone wallets already cover everywhere they do.
- SimplyGo is the one to use, and it's just your card. Tap a foreign contactless Visa, Mastercard or Amex, or your phone, on any bus or MRT gate and the fare comes off automatically, no separate card or app. It's the closest thing to a local travel wallet and it needs nothing set up. A small daily admin fee applies to foreign cards.
- Prefer a dedicated travel card? Buy an EZ-Link or the Tourist Pass. A rechargeable EZ-Link or NETS prepaid card (sold and topped up at stations and 7-Eleven) works if you'd rather not use a bank card, and the Singapore Tourist Pass offers unlimited travel for a flat 1, 2 or 3-day fee, sold at Changi and major MRT stations.
- Alipay+ and WeChat Pay are accepted if you already use them. Travelers whose home wallet is Alipay, WeChat Pay or an Alipay+ partner app can scan and pay at many Singapore merchants directly, billed in their home currency. You'll also see GrabPay accepted widely, though it's really meant for residents and regular Grab users. For everyone else, a contactless card does the same job.
- Don't bother trying to open PayNow as a tourist. It's linked to a Singapore bank account or mobile number, so it isn't realistically available on a short visit, and you lose nothing by skipping it.
For a normal trip you don't need any local payment app at all: a contactless Visa or Mastercard covers shops, hawkers and, via SimplyGo, the buses and trains, with a little cash for the rare stall that wants it.
Sending money to Singapore
Most visitors never need this, so keep it short: if you're paying a deposit, sending money to someone in Singapore, or funding a longer stay, the rate you're quoted is rarely the rate you get. The real cost usually isn't the visible fee, it's a markup buried in the exchange rate.
The benchmark is the mid-market rate you'd see on Google. Specialist services (our default pick is Wise) track within about 1% of it and pay out in Singapore dollars to a local bank account quickly, where a high-street bank wire can quietly cost several percent once the rate markup and correspondent-bank fees are counted.
The exchange rate matters more than the advertised fee. A provider can advertise "zero fees" and still cost you the most if its exchange rate sits a few percent under mid-market. Compare the final Singapore dollars that arrive, not the headline fee.
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Frequently Asked Questions
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Do I need cash in Singapore?
Barely. Singapore is one of the most cashless countries in the world: cards and phone wallets work almost everywhere, including many hawker stalls, and you can tap a card straight onto the MRT. Keep around S$50 to S$100 for the odd cash-only stall, a wet market or a donation box, and you'll rarely need more.
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Can I use my contactless card on the MRT and buses?
Yes, and it's the easiest way to get around. Through SimplyGo you tap a foreign contactless Visa, Mastercard or Amex, or your phone, directly on the bus and MRT gates, and the fare is deducted automatically with no separate card or top-up. Foreign cards carry a small daily admin fee. Fares are distance-based, so tap the same card both in and out; forget to tap out and you're charged the maximum fare. If you'd rather, an EZ-Link card or the flat-rate Singapore Tourist Pass are alternatives.
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Do ATMs in Singapore accept foreign cards?
Yes, essentially all of them. The big banks, DBS/POSB, OCBC and UOB, have ATMs everywhere that take foreign Visa, Mastercard, Plus and Cirrus cards with English menus. Whether you pay a local fee depends on your card and network, but the big banks generally don't add a surcharge of their own, and anything charged is shown before you confirm. The cost most people pay is their own bank's foreign-withdrawal fee back home, which a fee-free travel card avoids.
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Where's the best place to exchange money in Singapore?
A licensed money changer, not the airport or your hotel. Singapore's changers compete hard and offer excellent rates, comfortably better than the airport counters and a traditional bank card, and often a match for a good travel card too. The Arcade at Raffles Place has dozens under one roof, and Mustafa Centre in Little India and Change Alley are the other go-to spots. For larger amounts you can usually ask for a better rate. This is one of the few countries where changing cash genuinely pays.
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Can tourists use PayNow in Singapore?
Not really. PayNow is linked to a Singapore bank account or mobile number, so it isn't realistically available on a short visit, and neither are the local NETS or SGQR schemes. You don't need them, though: contactless cards and Apple or Google Pay are accepted everywhere they are. If your home wallet is Alipay, WeChat Pay or an Alipay+ partner, those are widely accepted too.
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Do you tip in Singapore?
No, tipping isn't customary or expected. Sit-down restaurants usually add a 10% service charge already (shown as "++" alongside the 9% GST), so there's no need to add more, and you don't tip taxis, hawkers or hotel staff as a rule. Rounding up is fine but never required.
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How much is GST in Singapore, and can tourists claim it back?
GST is 9% (it rose from 8% to 9% on 1 January 2024, so older guides quoting 7% or 8% are out of date). Restaurant bills often show "++", meaning a 10% service charge plus 9% GST on top of the menu price. Tourists can claim the GST back on goods (not meals, hotels or services) through the eTRS scheme: spend at least S$100 at a participating retailer, then scan your passport at the refund kiosks at Changi before you fly home.
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Should I pay in Singapore dollars or my home currency at the machine?
Always choose Singapore dollars. Picking your home currency lets the terminal set the exchange rate (dynamic currency conversion), which is worse than your own bank's rate. This applies at both ATMs and card machines, so decline the home-currency offer every time.
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Is Singapore expensive?
It has a reputation for it, and hotels, alcohol and taxis aren't cheap, but everyday costs are gentler than expected: a hawker-center meal is around S$4 to S$8 and public transport is inexpensive. Where the money goes is nightlife and accommodation. The live rate on this page shows exactly what your currency is worth today.