Swiss Tony

I think US$1000 for a 7 day stay is excessive.

Only small value purchases can't be done with a credit card.

What's more the point about taxis is specific to one firm and one card - something to do with not being allowed to charge more for a card over cash.

As noted upthread, the cost of the "convenience" is actually pretty low. When I go to Singapore it's ATMs all the way, but if you want some confidence, get a couple of hundred US$ changed into S$ before you go and take another $200 in greenbacks.

I really think you would have to go out of your way to get through S$75 a day in cash where credit card options will already exist.

Obviously the last thing you want to do is be left with a surplus of S$ at the end of the trip and be paying to convert back.

aster

No way are ATM rates better than money changers. Anyway, more on that later...

Rule #1: All ATMs charge the same amount for foreign currency withdrawals. So no matter which one you use, your card/bank will be billed the exact same amount to the penny. The only exemption to this rule is if you use the same bank for instance, like popping in your foreign Citi card into a local Citi ATM.

Rule #2: Banks and ATMs will always have terrible rates compared to local money changers. Best place to change are the Arcade money changers at Raffles Place where you are basically looking at no more than 1% off the mid-rate. Very often I was able to get virtually the same rate as the mid-rate listed on xe.com even, which was a surprise.

Rule #3: Consider if the amount you're changing is worth hassling over. I mean if you just want to change a grand then maybe it's not worth heading over to a money changer and spending time (+ money) to get there to save <$50.

invisible

This is bull$hit and it was mentioned, discussed and dismissed multiple times on HWZ forums. No point to start the same flame again but I can prove with a transaction slip that no money changer is going to give me the same rate as Interbank exchange rate is.

Daxiuyi

Robyn, you never mentioned how you got on, but my $0.02 for what it's worth...

• Main St banks in the US (you mentioned BofA) generally are appalling when it comes to foreign exchange of cash. Avoid them where possible.
• Bringing USD with you and changing it here would be fine. Money changers in Singapore are honest. If they deal in fake money or any other shady business, they get in VERY serious trouble. Extensive competition means the rates are very competitive.
• Small shops will likely be cash only. If you wanted to use credit cards for larger purchases, you won't have a problem. But that volume of cash would be fine for the time you're in Singapore I think.

More importantly, enjoy your trip

LillianJ

We will be there for three days before a cruise did you say you need cash for taxi as we get in very late at night. How much cash for the few days is needed, like to to go on the flyer?

jpatokal

Most taxis take credit cards. The Singapore Flyer certainly does.

gilbertaue

Note the major taxi company in Singapore, COMFORT and CITYCABS (either blue or all yellow), no longer accept VISA.

LillianJ

What card do they accept and if not how much local cash should we have as we have several hours in HKG airport and can exchange there.

SQ319

It's best to assume that all cabs take cash. That would be the safest as there are several cab companies in Singapore, some accept cards and some are cash only. Even if a cab company accepts cards, the cab driver may not want to (or give you the evil eye if you try to pay by card). There is also a 10% surcharge for paying by card.

Cabs from the airport to the city centre should be around S$30, and other than taking a cab to the Zoo, none of the rest of your cab rides should not cost more than that.

Very hard to tell you how much to change and we don't know what you want to do or how much you will buy. Just use the amounts mentioned here as a guide.

robyng

Our trip's not until late September - so we haven't even left yet . I'm enjoying the preparations now (reading about restaurants and sightseeing). I think I'm coming to the same conclusion I usually come to. I'd rather pay the extra $30-40-50 here on a $1000 exchange and not have to worry about changing money abroad. FWIW - if we have extra cash at the end of a trip - we simply apply it to our hotel bill. So we're only getting gouged changing money one way - not two .

We usually don't buy a lot when we travel. But we do spend money on food. I assume a lot of the hawker food places only take cash. Is that assumption correct? Robyn

robyng

I am pretty sure we'll be taking a car to/from the hotel that can be added to our hotel bill. If only because we'll be arriving at midnight and departing at 4 am. These aren't the most convenient flights I've ever booked - and we'll be pretty dead on our feet. (OTOH I did get 2 saver first class tickets with points/miles .)

We will be going to the zoo - and probably using cabs to go elsewhere as well. Between cabs - street food - and similar - I figure we'll be out about $500 out of pocket - and will take $1000 to be safe. Robyn

robyng

OTOH - no retail customer is ever going to get the interbank rate changing small amounts for travel. Don't know about money changers. As a non-frequent international traveler - convenience is a major issue for me. Robyn

alphaod

If you want to bring cash, change only a little at the airport for a cab and get the rest changed at Lucky Plaza. They give very good rates. I exchange usually $5000 at a time. Very close to interbank rates I have found (compared to say Travelex or something like that). You can ask a bunch of money changers before choosing one.

Now if you want to use ATMs, there are a lot of Citibank ATMs around and they don't charge any fees if you are an US Citibank customer. That's what I found anyways. I am not sure about other banks (if they charge fees or not). Otherwise there are plenty ATMs with to withdraw your Singapore Dollars.

Most places accept credit cards. There are only a couple places like food courts, food plazas, street stalls that don't take credit cards. A lot of Chinese restaurants will only take Visa or MasterCard (not Amex). If you want you can get a NETS cash card to load with cash. Most places accept that. There is a 50 cent surcharge for charging the card. You will want the cash card too if you plan to rent a card since the ERP IU reader needs that.

Many cabs take credit cards, but most will tack a surcharge on the fare. Of course cash is more convenient.


Anyways if you want to take a ton of cash around, I have found Singapore is a very safe place. Not much of pickpockets. I was told by a relocation company that 80% of Singapore police are in plainclothes, so perhaps that helps.


And people tell me it's not advise, but I prefer driving around in Singapore. It's very convenient especially when it rains (and it rains). Parking in most places aren't too bad (I grew up in NYC, so for me most places are cheap) and ERP charges aren't as bad as people make it out to be. Only issue is gas is quite expensive. My weekend trips usually use about 30 L of fuel costing me about S$100. Best choice in my opinion is Avis.

willsterstyle

For me I didn't even bother changing any back home in Canada.

Did the exchange at the airport since we only had a 20 hour layover. My only regret is that I changed too much so I have a little over 100 SGD lying around for a future trip.

HawaiiO

SGD has been strengthening the last few years vs the USD so u might make it out better!

But kind of flat lately.