Changing foreign currency is one of the most essential tasks to do before you whizz off on an overseas trip.
But when you’re strapped for time, going out of your way to visit a money changer with good rates becomes a dreaded chore.
While multi-currency cards and bank accounts are a great option, not everyone would plan to go fully cashless overseas.
(Multi-currency cards offer competitive exchange rates and let you transact directly in the currency of the country you’re visiting. If that’s something you’d be interested in, check out our reviews: YouTrip, TransferWise)
Quite often, we still need cash to pay at shops and stalls that don’t accept credit cards or digital payment, and it’s best to be prepared for this.
Thankfully, there are some alternative ways you can skip the money changer and still get physical currency for your upcoming trip!
Thin Margin
Thin Margin was a game-changer when they launched in 2018 as Singapore’s first 24-hour online money changer that delivers foreign currencies right to your doorstep.
They claim to offer similar exchange rates to the money changers in the CBD. At the time of writing, they offer 24 different currencies and may add more in the future.
To use their service, you simply need to select the desired currency, input the amount of SGD you would like to change (minimum S$400), and make payment via PayNow, NETSPay, or bank transfer.
According to Thin Margin, you can receive your foreign currency “within two days at the soonest”. You can pick a time slot between their delivery hours of 9am and 8pm, from Mondays to Saturdays, and the cash will be brought to you.
Thin Margin charges a S$3 delivery fee. But you can qualify for free delivery by purchasing at least S$2,000 of foreign currencies in a single transaction, which is probably achievable if you pool together with a few friends.
On top of currency exchange, Thin Margin also offers travel-related products like travel insurance, pocket WiFi and SIM cards. Buying any of these products will also give you free delivery and earn you some cashback too.
Thin Margin is licensed and regulated by the Monetary Authority of Singapore.
Visit Thin Margin here.
FXChange
FXChange (FXC) is a mobile app that lets you order foreign currency and pick it up conveniently at the airport before your flight.
Similar to Thin Margin, FXC says its exchange rates are as competitive as CBD money changers. However, they offer a smaller range of 12 foreign currencies.
On the FXC app, you can view all its exchange rates at a glance, select a currency and order the amount you want, with 0% commission and no hidden fees.
After making payment on the app, you will receive a QR code that you can scan at any FXC Plus Kiosk to collect your foreign currency.
FXC currently has three FXC Plus Kiosks in Jewel Changi Airport, one at Seletar Airport, and one at 7-Eleven in 313@Somerset, which all operate 24-hours, seven days a week.
If changing money has slipped your mind till the very last minute, fret not! You can also use cash in SGD to buy foreign currencies directly from the FXC Plus Kiosks without making an order on the app in advance.
FXChange is licensed and regulated by the Monetary Authority of Singapore.
Visit FXChange here.
MoolaFX
MoolaFX operates a chain of money changing ATM machines (called Moola Machines) where you can pay with cash in SGD and buy 13 foreign currencies instantly.
According to the company, the exchange rates displayed on its machines are updated in real time to keep it competitive and transparent — you get what you see.
Granted, it’s not as convenient as having your currency delivered to you or picking it up at the airport, but it’s still a great option if you happen to live near one of the Moola Machines.
MoolaFX currently has three machines in Toa Payoh, Star Vista and Yew Tee, that are operational 24-hours a day. They’re planning to deploy up to 30 machines across Singapore heartlands by the end of 2021.
MoolaFX is licensed and regulated by the Monetary Authority of Singapore.
Visit MoolaFX here.
FX Buddy
FX Buddy only has one money changing ATM in Singapore, but we included it in the list for the Northeast-dwellers. You can find the machine outside Heartland Mall in Kovan, available 24-hours a day.
Vulcan Post reached out to FX Buddy, and the company said they “will be adding locations soon”.
FX Buddy sells 10 foreign currencies, which you can purchase from the machine using cash, NETS or PayNow.
On top of that, FX Buddy also offers a free membership which will give you access to exclusive discounts and promotions.
FX Buddy is licensed and regulated by the Monetary Authority of Singapore.
Visit FX Buddy here.
Featured Image Credit: Vulcan Post, FXChange