Ruqayyah Snyder
Singapore's official currency is the Singapore Dollar (SGD). The Australian Dollar (AUD) is one of the foreign currencies that are accepted in Singapore, especially at the airport. However, it is not recommended to exchange currency at the airport as the rates are often worse than in city centres. It is also important to note that using a card is a popular payment method in Singapore, and most businesses accept international debit and credit cards.
| Characteristics | Values |
|---|---|
| Singapore's official currency | Singapore Dollar (SGD) |
| Australian currency | Australian Dollar (AUD) |
| Exchange rate | AUD to SGD: 1 AUD = 0 SGD |
| Exchange rate | SGD to AUD: 1 SGD = 0 AUD |
| Exchange in Singapore | Possible but with high commissions and poor rates |
| Exchange in Australia | Possible but better rates in busy areas |
| Exchange at the airport | Possible but with worse rates |
| Exchange before leaving | Possible and helps to have a clear budget |
| Card payments | Widely accepted with no surcharges |
| Cash | Widely accepted |
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What You'll Learn
- Australian dollars can be exchanged for Singapore dollars at the airport
- International credit and debit cards are widely accepted
- Singapore dollars are frequently used in $2, $5, $10, $20, $50 and $100 denominations
- Singapore has outlawed surcharges on credit card purchases
- It is best to avoid buying currency at the airport or your hotel
Australian dollars can be exchanged for Singapore dollars at the airport
Australian dollars are not an accepted currency in Singapore. The official currency in Singapore is the Singapore Dollar (SGD). If you are travelling to Singapore, it is recommended that you exchange your Australian dollars (AUD) for Singapore dollars (SGD) before you leave.
Changi Airport in Singapore has money changers conveniently located in the public and transit areas of its terminals. These money changers are operated by banks such as American Express and UOB and do not charge a commission for foreign currency exchange. They offer a straightforward option for exchanging Australian dollars for Singapore dollars.
While some shops at Changi Airport may accept Australian dollars and provide change in Singapore dollars, the exchange rates offered are not the most favourable. It is advisable to use a credit card or exchange your currency at a money changer to get a better rate.
Additionally, it is worth noting that Singapore's distinctive coins come in denominations of 1, 5, 10, 20, and 50 cents, as well as 1 Singapore dollar. Exchanging your Australian dollars for Singapore dollars at the airport will ensure you have the local currency needed for purchases, transportation, and other expenses during your stay in Singapore.
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International credit and debit cards are widely accepted
While Australian dollars are not accepted in Singapore, you can exchange them for Singapore dollars (SGD) before your trip. It's usually more beneficial to do this in Australia, as the Australian dollar often receives a better exchange rate at home. By converting your currency beforehand, you can avoid the hassle of finding an exchange upon arrival and have a clear budget for your trip.
International Credit and Debit Cards in Singapore
There are several types of international debit cards available for Singapore customers, including prepaid travel money cards issued by specialist providers. These cards can be ordered online or picked up in-store and topped up with Singapore dollars, which can then be converted for international spending. Most banks in Singapore also offer accounts with linked debit cards that can be used overseas.
When choosing an international debit card, it's important to consider the fees involved, such as foreign transaction fees, currency conversion costs, and ATM withdrawal charges. Some cards, like the Wise Card, offer low fees for withdrawals and contactless payments at the mid-market exchange rate. Additionally, international debit cards can provide better exchange rates and lower fees for foreign currency purchases compared to regular cards.
For those who prefer not to carry physical cards, a virtual card with the same features is also an option. Mobile wallet apps, such as GrabPay, are becoming increasingly popular in Singapore as a safe and convenient payment method.
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Singapore dollars are frequently used in $2, $5, $10, $20, $50 and $100 denominations
The Singapore dollar (SGD) is the official currency of Singapore. It is not possible to use Australian dollars in Singapore, so you will need to exchange your Australian dollars (AUD) for Singapore dollars before your trip.
Singapore's currency comes in a variety of denominations. The Portrait Series is the fourth series of currency notes, launched on 9 September 1999. This series has seven denominations, excluding the $1 and $500 notes. The Portrait Series notes feature the face of Yusof bin Ishak, Singapore's first president, and include security features such as a watermark of his portrait and the Singapore Lion symbol.
The $2 note, which was introduced in the Ship Series, depicts a group of pupils interacting with a teacher in a "Borderless Classroom". The $5, $10, $20, and $50 notes are also commonly used denominations. These notes feature designs that showcase Singapore's rich culture and history. For example, the $50 note features the Port of Singapore, while the $10 note depicts public housing.
The coins of Singapore are also quite distinctive and come in denominations of 1, 5, 10, 20, and 50 cents, as well as a 1-dollar bimetallic coin featuring the Merlion. The coins feature new designs, such as the Changi International Airport on the 20-cent coin and the Esplanade on the 5-cent coin.
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Singapore has outlawed surcharges on credit card purchases
Australian dollars are not accepted in Singapore. The official currency of Singapore is the Singapore dollar (SGD). It is recommended to exchange your Australian dollars (AUD) for Singapore dollars before your trip to Singapore.
Previously, some merchants in Singapore charged a surcharge for credit card payments, which could range from 0.5% to 2% of the transaction amount. This was done to cover the cost of credit card fees charged by the credit card companies. However, as of February 17, 2022, these surcharges are no longer allowed.
The outlawing of credit card surcharges is intended to protect consumers from unnecessary fees and to encourage cashless transactions. It also ensures that consumers are only paying for the cost of the goods or services they are purchasing, without any additional charges.
It's worth noting that there may be exceptions to this rule. For example, some businesses may charge a processing fee for specific payment methods or platforms. Additionally, businesses may choose to offer discounts for cash payments instead of eliminating credit card fees altogether.
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It is best to avoid buying currency at the airport or your hotel
If you're travelling from Australia to Singapore, you'll need to exchange your Australian dollars (AUD) for Singapore dollars (SGD) before you leave. The Australian dollar often receives a better exchange rate at home, helping you avoid less favourable rates and potential fees overseas. By converting to Singapore dollars before you depart, you can plan your budget in advance and avoid the hassle of finding an exchange bureau when you arrive.
Your bank is likely the best place to exchange currency, but it may not buy back all currency types. Ordering currency from your bank before you travel is almost always better than using the airport currency exchange. Many banks allow you to order foreign currencies, which you can typically pick up at a local branch before your trip. Some banks offer to ship currencies to you, and sometimes they don’t even charge extra for postage if you order a certain amount. Plus, the exchange rates are usually quite good.
If your bank doesn’t accept the foreign currency you want, you can exchange your money at a currency exchange store or at an airport kiosk, but you likely won’t get the best rate. Ordering foreign currency ahead of a trip can help lower the cost of exchanging money and maximise the amount you get in return.
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Frequently asked questions
Australian dollars are accepted in Singapore, but it is recommended to exchange them for Singapore dollars (SGD) before your trip to get a better exchange rate.
You can exchange Australian dollars for Singapore dollars at a bank, MRT station, or shopping centre in Singapore. You can also exchange currency at the airport, but the rates are often worse than in city centres.
Card is a popular payment method in Singapore, and most businesses accept international credit and debit cards with a four-digit PIN, including Visa, Mastercard, American Express, and Diners Club.
The denominations of Singapore dollars are $2, $5, $10, $20, $50, and $100 notes, and 1, 5, 10, 20, and 50 cents, and 1 Singapore dollar coins.
