Should I exchange Singapore dollars before I travel?

You can, but there's rarely much in it. SGD is widely traded, and licensed money changers in Singapore's shopping centres are usually competitive. Bring a modest amount and top up in town if needed rather than changing everything at an airport counter.

Where's the best place to change money for Malaysian ringgit?

Inside Malaysia. MYR is thinly traded abroad, so rates outside the country tend to be poor. Change enough for your first taxi and meal before arrival, then do the bulk at a money changer in town rather than at the airport.

How much cash can I bring into Malaysia?

A special permit is required for more than US$10,000 in cash or other negotiable instruments, and excess amounts are seized on arrival without one. You can also only leave with the amount you declared on your arrival form, so declare accurately.

Can I claim a GST refund on shopping in Singapore?

Yes, if you spend at least SGD100 including GST and meet the scheme's conditions — you must be 16 or over, not a citizen or permanent resident, present your original passport at the shop, apply at an eTRS kiosk, and depart with the goods within two months via Changi or Seletar.

Does Malaysia have a tourist tax refund?

No equivalent scheme applies to visitors, so treat the price you pay as final. Budget accordingly if you were planning to claim back tax on larger purchases.

Singapore & Malaysia Money 2026: Exchange, ATMs & Cards

Updated: 2026-08-22

These two currencies behave in opposite ways, and treating them the same is what costs travellers money. The Singapore dollar is traded everywhere and easy to buy before you fly; the ringgit is thinly traded abroad and usually cheapest once you're inside Malaysia. Rules and thresholds below were checked against official sources on 17 August 2026. - **Singapore** — bring a card, change a small amount of cash, top up later at a licensed money changer if you need it - **Malaysia** — arrive with a little cash, change the bulk in-country, keep small notes for hawker stalls and parking - **Crossing between the two** — declare what you're carrying and know Malaysia's permit threshold before you pack cash - **Cards** — always pay in the local currency when a terminal offers you a choice

Two Currencies, Two Different Rules

Singapore runs close to cashless; Malaysia is card-friendly in cities and cash-first almost everywhere else. That single difference drives how much you should change and where.

	Singapore (SGD)	Malaysia (MYR)
Best place to change	Licensed money changers in malls and shopping centres, generally better than airport counters	Inside Malaysia — ringgit rates abroad are usually poor
Cash you actually need	Small — most food courts, transport and shops take cards or QR	Moderate — hawker stalls, small towns, parking and markets are cash-first
Card acceptance	Near-universal, including public transport	Wide in cities and malls; patchier outside them
ATMs	Everywhere; your home bank's fee is the main cost	Widely available; some hotels don't take cards at all
Carrying cash in	Declaration required above a set threshold — check the current figure with ICA before flying	A permit is required to bring in more than US$10,000 in cash or negotiable instruments
Carrying cash out	Same declaration rule applies on departure	You may leave only with the amount declared on arrival

The ringgit is the one to plan around. Buying MYR at a counter in Seoul, Taipei or London usually means a spread you'd never accept on a major currency — change just enough for the first taxi and a meal.
Singapore dollars are the opposite: widely stocked, competitively priced, and rarely worth agonising over.
If your trip covers both countries, don't carry a single stack of one currency across the causeway expecting to use it. Ringgit is not generally accepted in Singapore, and vice versa.

Where the Money Actually Leaks

Exchange rates get the attention; the fees around them usually cost more.

Airport counters are a convenience product in both countries. Change what you need for the first few hours and do the rest in town.
Money changers in Singapore are licensed and cluster in shopping centres — comparing two or three counters in the same mall takes five minutes and usually beats the first rate you see.
ATM withdrawals carry two layers of fee: the local operator's charge and your home bank's foreign-withdrawal fee, sometimes with a percentage on top. Fewer, larger withdrawals cost less than topping up daily.
Dynamic currency conversion is the quiet one. If an ATM or card terminal offers to charge you in your home currency, decline and pay in SGD or MYR — the machine's rate is set by the operator, not by your card network.
Small notes matter in Malaysia. Hawker stalls, parking machines and short taxi rides often can't break a large note, and "no change" is a real answer.
Keep some cash even in Singapore. Wet markets, older hawker centres and a few small businesses still prefer it, though you'll use far less than in Malaysia.

If your route continues north, the same trade-offs play out differently again — our Thailand money guide covers a market where cash still dominates.

Tax Refunds and Cash Declarations

Singapore has a working tourist refund scheme; Malaysia does not have an equivalent, so what you pay at the till is final.

Singapore's Tourist Refund Scheme (GST), per the official conditions:

Condition	Requirement
Minimum spend	SGD100 including GST; up to 3 same-day receipts from retailers with the same GST registration number can be combined
Who qualifies	Age 16+, not a Singapore citizen or permanent resident, not aircrew, not a "specified person" (e.g. certain pass holders)
At the shop	Present your original passport in person so the retailer can capture it digitally — photocopies and photos are not accepted
At the airport	Apply at an eTRS self-help kiosk, departing via Changi or Seletar
Time limits	Depart with the goods within 2 months of purchase, within 12 hours of refund approval, and claim from the central refund counter within 2 months of approval

Carrying cash across borders

Malaysia: a special permit is required to bring in more than US$10,000 in cash or other negotiable instruments, and excess amounts without one are seized on arrival. You may leave with only the amount you declared on the arrival form.
Singapore: travellers carrying physical currency or bearer negotiable instruments above the prescribed threshold must submit a declaration on entry and exit. Check the current figure with the Immigration & Checkpoints Authority before you travel.
Thresholds apply to the total you carry, so splitting cash across a group doesn't remove the obligation to declare.

※ Rules and thresholds here reflect August 2026 and can change. Confirm with the relevant customs, immigration or tax authority before you travel.

A Practical Split for a Two-Country Trip

Before you fly: one card with low foreign-transaction fees, a backup card kept separately, and a small amount of SGD.
Landing in Singapore: pay by card, keep maybe SGD50–100 in notes for markets and hawker stalls.
Crossing to Malaysia: change your main cash budget there, in town rather than at the border or airport.
In Malaysia: keep RM10 and RM50 notes on you; treat large notes as a bank product, not a spending one.
Heading home: spend or convert leftover ringgit before you leave — it's the currency you'll get the worst rate on once you're back.

For the safety side of the same trip, Hong Kong and Singapore safety covers the practical differences in how you carry valuables in each city.

One Thing to Sort Before You Land

Almost every money decision on this trip happens on your phone — comparing a money changer's rate, checking a card charge, calling a ride, confirming which terminal your refund kiosk is in. Arriving without a working data connection is what pushes people towards the airport counter and the first ATM they see. Getting connectivity sorted before departure is the cheapest single thing you can do for your budget on a Singapore–Malaysia trip. Current lowest prices across booking platforms are compared below.

Compare prices for related tickets

FAQ

Should I exchange Singapore dollars before I travel?
You can, but there's rarely much in it. SGD is widely traded, and licensed money changers in Singapore's shopping centres are usually competitive. Bring a modest amount and top up in town if needed rather than changing everything at an airport counter.
Where's the best place to change money for Malaysian ringgit?
Inside Malaysia. MYR is thinly traded abroad, so rates outside the country tend to be poor. Change enough for your first taxi and meal before arrival, then do the bulk at a money changer in town rather than at the airport.
How much cash can I bring into Malaysia?
A special permit is required for more than US$10,000 in cash or other negotiable instruments, and excess amounts are seized on arrival without one. You can also only leave with the amount you declared on your arrival form, so declare accurately.
Can I claim a GST refund on shopping in Singapore?
Yes, if you spend at least SGD100 including GST and meet the scheme's conditions — you must be 16 or over, not a citizen or permanent resident, present your original passport at the shop, apply at an eTRS kiosk, and depart with the goods within two months via Changi or Seletar.
Does Malaysia have a tourist tax refund?
No equivalent scheme applies to visitors, so treat the price you pay as final. Budget accordingly if you were planning to claim back tax on larger purchases.