Singapore Payment Methods and Currency Exchange Guide

Singapore uses the Singapore Dollar (SGD) as its official currency. Payment systems are modern and widely accessible, with contactless and mobile payments prevalent across most sectors.

• Official currency: Singapore Dollar (SGD), currency code: SGD.
• Accepted payment methods: Cash, major credit/debit cards (Visa, Mastercard, American Express), and mobile wallets (Apple Pay, Google Pay, Samsung Pay, Alipay, WeChat Pay).
• Contactless payments: Widely accepted in retail, dining, and public transport.
• ATM availability: Extensive; international cards (Visa, Mastercard, Cirrus, Maestro) are generally accepted. Some ATMs may charge a fee (typically SGD 2–5 per withdrawal for foreign cards).
• Currency exchange: Available at banks, licensed money changers, airports, and shopping centers. Money changers often offer competitive rates.
• Foreign currency restrictions: No restrictions on the amount of foreign currency brought in or taken out, but amounts exceeding SGD 20,000 (or equivalent in foreign currency, approx. USD 15,000/EUR 14,000) must be declared to Singapore Customs.
• Cash import/export limits: Declaration required for amounts above SGD 20,000 or equivalent.
• Transaction fees: Foreign card transactions may incur surcharges (typically 1–3%) and dynamic currency conversion fees.
• Major banks: DBS, OCBC, UOB, Standard Chartered.
• Government regulations: Singapore enforces strict anti-money laundering laws; travelers should retain receipts for large exchanges.
• Tips: Check with your card issuer for international usage fees; notify your bank before travel to avoid card blocks.