Best Money Changers: Singapore vs JB Exchange Rates

Introduction

Should you exchange Singapore Dollars to Malaysian Ringgit before crossing the border, or wait until you reach JB? Exchange rates, fees, and convenience vary significantly between money changers in Singapore and those across the border in Johor Bahru.

This guide compares rates, identifies the best money changers in both countries, and provides practical tips to get the most ringgit for your Singapore dollars.

Singapore vs JB: Where You Get Better Rates

General rule: Singapore money changers typically offer BETTER rates for SGD → MYR exchange compared to JB.

Typical rate comparison (example):

Singapore (Arcade, Peninsula Plaza): SGD 1 = RM 3.52
JB (City Square, KSL): SGD 1 = RM 3.47-3.49
Difference: 1-1.5% better in Singapore

Why Singapore is better:

Higher competition among money changers
Greater transparency and regulation
Singapore is the stronger currency holder
Demand favors SGD → MYR exchanges

When JB might be better:

Exchanging MYR back to SGD (reverse transaction)
Very large amounts (can negotiate rates)
Specific money changers offering promotions

Best Money Changers in Singapore

Top options near checkpoints:

1. The Arcade (Raffles Place)

Location: 11 Collyer Quay #02-01/04
Rates: Among the best in Singapore
Fee: Typically no commission for SGD/MYR
Hours: Mon-Fri 9 AM - 5 PM, Sat 9 AM - 1 PM

2. People’s Park Complex

Location: 1 Park Road, Chinatown
Rates: Competitive, shop around multiple changers
Fee: No commission
Hours: Daily 10 AM - 7 PM

3. Peninsula Plaza

Location: 111 North Bridge Road
Rates: Comparable to The Arcade
Fee: No commission
Hours: Daily 10 AM - 7 PM

4. Woodlands area (convenience option)

Lucky Plaza Money Changer (Woodlands Civic Centre)
Rates: Slightly lower than CBD but convenient before crossing
Hours: Daily 10 AM - 8 PM

Pro tip: Avoid changing at airports or checkpoints - rates are 3-5% worse.

Best Money Changers in JB

Top options after crossing border:

1. KSL City Mall

Location: 33 Jalan Seladang, Taman Abad
Rates: Best in JB for large amounts
Multiple changers: Compare rates within mall
Hours: Daily 10 AM - 10 PM

2. City Square Mall

Location: 106-108 Jalan Wong Ah Fook
Rates: Competitive, close to CIQ
Convenience: 5 min drive from checkpoint
Hours: Daily 10 AM - 10 PM

3. Paradigm Mall JB

Location: Skudai area
Rates: Good for larger exchanges
Hours: Daily 10 AM - 10 PM

4. JB Sentral (convenience, not best rates)

Location: Jalan Jim Quee
Rates: 2-3% worse than mall changers
Advantage: Immediately accessible from bus terminal

How Much Should You Exchange?

Recommended amounts for day trips:

Meals (lunch + snacks): RM 50-80 per person
Shopping: RM 100-300 depending on purchases
Transport (Grab/taxi): RM 30-50
Total suggestion: RM 200-400 per person

For weekend stays:

2 days 1 night: RM 400-700 per person
Meals, accommodation, shopping, transport included

Digital payments: Many JB establishments now accept PayNow, GrabPay, or credit cards - reducing cash needs.

Tips for Getting the Best Exchange Rates

Before exchanging:

Compare rates at 2-3 money changers
Check mid-market rate online (Google “SGD to MYR”)
Avoid airport and checkpoint changers (worst rates)
Larger amounts sometimes get better rates (ask)

When exchanging:

Bring original passport (usually required for amounts over SGD 5,000)
Count cash carefully before leaving counter
Ask for rate quote before handing over money
No commission” doesn’t mean best rate - rate spread matters more
Avoid weekend exchanges if possible (rates slightly worse)

What to avoid:

Hotel money changers (2-4% worse rates)
Checkpoint kiosks (3-5% worse rates)
Airport changers (4-6% worse rates)
Illegal street changers (safety risk, counterfeit risk)

Digital Payment Alternatives

PayNow/DBS PayLah:

Some JB merchants accept PayNow
Instant payment, uses mid-market rates
Small transaction fee applies

Credit/Debit cards:

Widely accepted at malls, hotels, major restaurants
2-3% foreign transaction fee typical
Rates usually better than poor money changers

GrabPay:

Works in Malaysia if topped up with MYR
Convenient for transport and food delivery

Cash vs digital:

Cash still preferred at hawker stalls, local shops, parking
Digital payments better for large purchases

Quick Tips Summary

Exchange SGD → MYR in Singapore for better rates (1-2% better)
Use The Arcade or Peninsula Plaza for best rates
Avoid airport/checkpoint changers (3-5% worse)
For JB changers, try KSL City or City Square
Bring RM 200-400 per person for day trips
Compare 2-3 changers before exchanging
Use credit cards for large purchases (hotels, electronics)
Keep small denomination notes (RM 10, RM 20) for hawker food

Frequently Asked Questions

Q: Can I use SGD directly in JB? Yes, many shops accept SGD, but rates are usually unfavorable (SGD 1 = RM 3.00-3.20 vs official ~RM 3.50). Change to MYR for better value.

Q: Should I change all my money before going to JB? Exchange most of what you’ll need in Singapore (better rates), but keep some SGD for flexibility or emergencies.

Q: Can I use Malaysian Ringgit in Singapore? Rarely accepted. Change MYR back to SGD before returning or at money changers in Singapore.

Q: What’s the limit on how much I can exchange? No limit on SGD → MYR for personal use. Amounts above SGD 20,000 may require additional documentation.

Q: Are money changers safe? Licensed money changers in malls and commercial areas are safe. Count your money before leaving and verify the agreed-upon rate.

Check our live traffic dashboard for checkpoint conditions before your money-changing trip to JB.