Money in Singapore: Currency, Cards, Cash & Costs

Singapore is one of the easiest places in the world to handle money as a traveler. The currency is stable and transparent, prices are clearly displayed with no haggling, and the city is so cashless that you can get through entire days tapping a card or phone. Still, a few local quirks, from PayNow-only hawker stalls to airport money-changer markups and the GST tourist refund, are worth understanding before you arrive.

This guide covers everything you need to know about money in Singapore: the Singapore dollar and rough conversions, when you need cash versus cards, how contactless and mobile payments work for transit and shopping, where to find good exchange rates, whether you should tip, and how to claim your tax refund at Changi. Get these basics right and paying for things in Singapore becomes genuinely effortless.

The Singapore Dollar (SGD) and Rough Conversions

Singapore's currency is the Singapore dollar, abbreviated SGD and written as $ or S$ to distinguish it from other dollars. One dollar divides into 100 cents. Banknotes commonly circulate in denominations of $2, $5, $10, $50 and $100 (larger notes exist but you will rarely see them), while coins come in 5, 10, 20 and 50 cents and a $1 coin.

The Singapore dollar is a strong, well-managed currency, which makes it a comforting one to budget with: exchange rates are stable, inflation is moderate, and the price on the tag is exactly what you pay. As a very rough mental shortcut, one Singapore dollar tends to sit a little below one US dollar and broadly in the same neighborhood as other major currencies, but always check a live rate before you travel since values shift. Unlike much of Southeast Asia, there is essentially no bargaining culture here outside of a handful of markets, so you can shop and eat without negotiating.

One small but useful note: you may occasionally come across Brunei dollars, which are pegged one-to-one with the Singapore dollar and sometimes accepted interchangeably, though most shops will hand Brunei notes back. Stick to SGD and you will never have a problem.

Cards vs Cash: When You Need Each

The single most important thing to know about money in Singapore is that it is overwhelmingly cashless. Contactless cards and mobile wallets are accepted almost everywhere: restaurants, shops, convenience stores, taxis, attractions and even many market stalls. For the vast majority of your trip, your card or phone is all you need.

That said, carrying a small amount of cash remains sensible for a few specific situations:

  • Hawker centres and older food stalls. While many hawker stalls now accept card or local QR payments, some smaller or traditional stalls still prefer cash or only accept PayNow, Singapore's instant bank-transfer system that overseas visitors usually cannot use. A few small notes and coins keep you fed without stress. Our Singapore hawker food guide explains how ordering and paying at these stalls works.
  • Wet markets and small neighborhood shops in areas like Tiong Bahru, Tekka in Little India or Chinatown.
  • Some hawker drink stalls selling kopi (local coffee) and teh, where the bill is just a dollar or two.
  • Emergencies and tips where rounding up or a small gesture is easier in cash.

A practical approach is to arrive with little or no Singapore cash, then withdraw a modest amount from an ATM after you land, topping up only if you find yourself eating heavily at cash-only stalls. Most travelers get by on surprisingly little physical money.

Contactless and Mobile Payments for Transit and Shopping

Singapore's contactless ecosystem is one of the smoothest anywhere, and it genuinely changes how you move around the city.

Tapping onto the MRT and buses

You do not need a separate transit card to use public transport. The SimplyGo system lets you tap a contactless Visa or Mastercard, or a phone or smartwatch loaded with that card, directly onto the fare gates of the MRT and onto bus readers. The fare is calculated automatically and charged to your card, with no top-up and no ticket to buy. This is the easiest way for most visitors to ride. The alternative, a stored-value Singapore Tourist Pass offering unlimited rides, only makes sense if you are taking a very high number of trips in a short window. We compare both in detail in our guide to getting around Singapore by MRT and Grab.

Paying in shops and restaurants

Contactless card payments are universal, and international mobile wallets such as Apple Pay and Google Pay are widely accepted at shop terminals. You will also see plenty of local QR-code payment options like PayNow and PayLah, but these are tied to Singapore bank accounts and are generally not available to short-term visitors, so do not worry if you cannot use them. Your home card and phone wallet cover almost everything.

A quick tip: when a card terminal asks whether to charge you in Singapore dollars or your home currency, always choose Singapore dollars. The "pay in your own currency" option (dynamic currency conversion) usually applies a poor exchange rate, so letting your own bank do the conversion is almost always cheaper.

ATMs, Exchange Rates and Avoiding Airport Markups

If you do need cash, getting it efficiently is easy. Singapore is full of ATMs operated by major banks such as DBS/POSB, OCBC and UOB, found in malls, MRT stations, convenience stores and on the street. Withdrawing from a bank ATM with a travel-friendly debit card typically gives you a fair, close-to-market exchange rate. Be aware that your home bank may charge a foreign-withdrawal fee, so taking out one slightly larger amount rather than several tiny ones can save on per-transaction charges. Always decline the ATM's own currency-conversion offer and choose to be charged in Singapore dollars.

For changing cash, Singapore's licensed money changers are famous for competitive rates, often noticeably better than banks or airport counters. They cluster in spots like Mustafa Centre and the Little India area, The Arcade near Raffles Place, and inside shopping malls such as those around Bugis and Chinatown. If you are exchanging a meaningful amount, these are the places to do it.

The one place to avoid for anything beyond a small starter amount is the airport money changer at Changi, where convenience comes at the cost of a weaker rate. Changing just enough to get into the city, then using ATMs or city money changers for the rest, is the budget-savvy move. For more on landing and getting oriented, see our Changi Airport arrival guide.

Do You Tip in Singapore?

Here is some welcome news for your budget: tipping is generally not expected in Singapore. This is one of the clearest aspects of local money culture, and it differs from places like the United States.

Most sit-down restaurants automatically add a 10% service charge to the bill (often shown alongside the prevailing GST, frequently summarized on menus as "++" after a price, as in "$20++"). Because that service charge is already included, there is no obligation to leave anything extra on top. In fact, leaving an additional tip is uncommon.

Where tipping is optional and modest:

  • Taxis and Grab: rounding up the fare or telling the driver to keep small change is appreciated but never required.
  • Hotels: a small note for a porter or housekeeping is a kind gesture, especially at higher-end properties, but not obligatory.
  • Hawker centres and food courts: no tipping at all; you usually order and pay at the stall.
  • Bars and cafes: tipping is not standard, though some upscale venues add a service charge.

The bottom line: you can dine and travel across Singapore without doing tip math, which keeps your spending predictable. For the bigger picture on costs, our Singapore budget guide breaks down realistic daily spending by travel style.

GST and the Tourist Refund Scheme (eTRS) at Changi

Singapore charges a Goods and Services Tax (GST) on most purchases, baked into the price you see. The good news for visitors is that tourists can often reclaim the GST on qualifying goods they take home, through the electronic Tourist Refund Scheme (eTRS).

The essentials of how it works:

  • Shop at participating retailers and spend above the minimum purchase amount, which can be met by combining same-day receipts at the same retailer. Ask the store to issue an eTRS transaction linked to your passport at the time of purchase.
  • Keep the goods and receipts with you; the refund is for items you are exporting, so they should be unused and available for inspection if requested.
  • Claim at the airport before you fly using the self-service eTRS kiosks at Changi. You typically do this before check-in if the items will go in checked luggage, or after immigration for carry-on goods, so allow extra time and follow the on-screen prompts.
  • Receive your refund to a credit card or via the other options offered, minus a small handling fee.

Rules, minimum spend and eligibility change from time to time, so confirm the current requirements and the exact kiosk process when you shop and before departure. If you plan to do meaningful shopping, the refund is well worth the few extra minutes at Changi.

Quick Money Tips for Singapore

  • Lead with contactless. Tap your card or phone for transit, shops and most meals; carry only a little cash for hawker stalls.
  • Always pay in Singapore dollars when a terminal or ATM offers a choice, to dodge poor conversion rates.
  • Use bank ATMs and city money changers for cash, and skip the airport changer for anything beyond a small starter amount.
  • Do not stress about tipping; a service charge usually covers it and tips are not expected.
  • Save your receipts if you shop, and claim the GST refund at Changi before you leave.
  • Tap water is safe to drink, so you can skip buying bottled water and save a little every day.

One Cost You Can Lock In Before You Fly: Connectivity

Almost every payment habit above runs through your phone. You will tap to ride the MRT, open Grab and pay in-app, check live exchange rates, navigate to that well-rated money changer or hawker centre with Google Maps, and pull up mobile attraction tickets. Reliable mobile data is what ties the whole cashless experience together, and relying on patchy public Wi-Fi for a Grab payment in the rain is exactly the kind of friction you want to avoid.

Unlike the fluctuating exchange rate, a prepaid Singapore eSIM plan is a cost you can fix to the cent before you even leave home. You install it in minutes, land at Changi already online with no SIM-counter queue and no surprise roaming bill, and pay a single, known price with no airport markup, which is the same principle that keeps the rest of your Singapore money simple and predictable.

Sort your Singapore eSIM alongside your travel cards as part of your pre-trip checklist, and you will arrive ready to tap, ride, eat and pay from the moment you step off the plane, with your money and your connection both squared away.

Frequently Asked Questions

What currency is used in Singapore?

Singapore uses the Singapore dollar (SGD), written as $ or S$ to distinguish it from other dollars. One dollar divides into 100 cents, with notes commonly in $2, $5, $10, $50 and $100 and coins from 5 cents to $1. It is a stable, transparent currency, and the price on the tag is exactly what you pay, with essentially no bargaining outside a few markets.

Do you tip in Singapore?

No, tipping is generally not expected in Singapore. Most sit-down restaurants add a 10% service charge to the bill (alongside GST, often shown as "++" after a price), so there is no obligation to leave extra. Rounding up a taxi fare or leaving small change for great service is appreciated but never required, and there is no tipping at hawker centres.

Should I use cash or card in Singapore?

Singapore is overwhelmingly cashless, so a contactless card or phone wallet covers almost everything: shops, restaurants, taxis, attractions and even MRT and bus fares via SimplyGo. Carry a small amount of cash mainly for older hawker stalls, wet markets and traditional drink stalls, some of which prefer cash or local PayNow QR that overseas visitors usually cannot use.

Where can I get the best exchange rate in Singapore?

Licensed money changers in Singapore typically offer the most competitive rates, with well-known clusters at Mustafa Centre and Little India, The Arcade near Raffles Place, and inside malls around Bugis and Chinatown. Bank ATMs (DBS/POSB, OCBC, UOB) give fair rates too. Avoid the airport money changer at Changi for anything beyond a small starter amount, and always choose to be charged in Singapore dollars.

Can tourists claim a GST refund in Singapore?

Yes. Tourists can often reclaim the Goods and Services Tax (GST) on qualifying goods they take home through the electronic Tourist Refund Scheme (eTRS). Shop at participating retailers, meet the minimum spend, have the eTRS transaction linked to your passport at purchase, then claim at the self-service kiosks at Changi Airport before you fly. Rules and minimum spend change, so confirm current requirements when you shop.