6 Top Money Changers at The Arcade (Raffles Place) — 2026

Key Takeaways

• The Arcade at Raffles Place has Singapore’s largest concentration of licensed money changers, with over 20 outlets in one building, creating intense competition that drives rates down.
• Popular money changers at this location include Arcade Money Changers (AMC sg), City Money Changers (CMC), and Arcade Plaza Traders, each with unique strengths like online rate booking, PayNow payment options, and extended hours.
• The best rates are typically available on weekdays around 10 AM–4 PM; peak lunch hours, 12 PM–2 PM, should be avoided.
• If you can’t make it to Raffles Place, online money changer platforms like iChange and mChanger.sg offer digital alternatives for currency exchange.

Overview of Arcade Money Changers: Why The Arcade Is Popular

Buying foreign currency for an upcoming trip? Ask any Singaporean, and most will point you to The Arcade at 11 Collyer Quay, Raffles Place, widely regarded as the go-to destination for currency exchange in Singapore.

It houses over 20 licensed money changers under one roof, creating a highly competitive environment where rates can be 0.5–1% better than standalone outlets peppered across the Lion City.

The location is easily accessible via Raffles Place MRT (Exit C), just a 2-minute walk away. Whether you’re looking for the best rates on Japanese yen, US dollars, or Malaysian ringgit, the Arcade money changer cluster offers unmatched convenience for anyone seeking competitive currency exchange rates and easy in-person comparisons.

What Are the Criteria for Choosing a Money Changer?

When selecting a money changer near you, consider these key factors to ensure you get the best value:

• Exchange Rate Markup: Money changers typically add a markup of 0.5–3% to wholesale rates. Compare rates across multiple counters before committing.
• Currency Specialisation: Certain money changers offer better rates for specific currencies. For example, Arcade money changers are known for their competitive USD, EUR, and GBP rates.
• Transaction Size: Exchanging larger amounts (S$1,000 or more) may allow you to negotiate a better rate.
• Operating Hours: Some outlets have limited hours or close for Friday prayers; plan your visit accordingly!

The Top 6 Money Changers at The Arcade

The following Arcade money changers were selected based on reviews for their competitive rates, efficient service, and friendly staff.

1. Arcade Money Changers (AMC sg)

Located right by the main entrance to The Arcade, Arcade Money Changers(AMC sg) has been a trusted name since 1979. Known for its transparent and efficient service, this money changer offers an online rate-booking feature that allows customers to reserve a quoted rate for collection within a short window.

USP: Established reputation, online rate booking.

2. City Money Changers (CMC)

Also located by the entrance to The Arcade, City Money Changers (CMC) is a reliable option praised for consistently competitive rates and friendly, professional staff. Customers appreciate the convenience of PayNow payments and the staff’s willingness to advise on timing for better rates.

USP: Excellent rates, trustworthy staff, PayNow option.

3. Arcade Plaza Traders

Arcade Plaza Traders is favoured by business travellers and those handling large transactions. Apart from retail money changing, they also offer wholesale banknote and cross-border money transfer services. The staff are known for fast service, and they cater well to exchanges of S$5,000 and above.

USP: Fast service, good for high-volume exchanges.

4. Dazzling Xchange Pte Ltd

Dazzling Xchange is another solid choice for those seeking competitive rates on major and regional currencies. While less prominently reviewed than the larger players at The Arcade, it maintains a loyal customer base for its consistent service.

USP: Competitive rates on Southeast Asian currencies, and they offer money transfer services to most countries worldwide.

5. Eng Lok Money Changer

A smaller but reliable operator within The Arcade. Known for patient and courteous service, it is a good option if the more crowded counters have long queues.

USP: Transparent, frequently updated pricing with special rates for larger amounts.

6. Mohamed Thahir Exchange

As with most money changers on this list, some customers praise their honesty and good rates, while others have reported less favourable experiences. It may be worth visiting for specific currency needs, but as always, compare rates before committing.

USP: Over two decades of experience with a wide range of currencies.

Comparing Arcade Money Changer Currency and Services in Singapore

The Arcade is located at 11 Collyer Quay, Singapore 049317

Note: Opening hours may vary; it is advisable to visit during weekdays, as many outlets close earlier on Saturdays and are closed on Sundays.

Common Currencies Traded at Money Changers

Money changers at The Arcade typically handle a wide range of currencies, but the most commonly traded include:

• US dollar (USD): The most traded currency globally.
• Japanese yen (JPY): A top currency for travellers.
• Euro (EUR): Widely used across Europe.
• Malaysian ringgit (MYR): Highly popular for cross-border travel.
• Thai baht (THB): Another regional favourite.
• Other Asian currencies: Chinese yuan (CNY), Hong Kong dollar (HKD), Indonesian rupiah (IDR), Vietnamese dong (VND), Philippine peso (PHP).

Limitations of Buying Currencies at The Arcade

While The Arcade offers competitive rates, there are a few limitations to keep in mind:

• Cash-Only Transactions: Most money changers primarily deal in cash; card payments may not always be accepted or may incur fees.
• Limited Operating Hours: Many outlets are closed on Sundays and have shorter hours on Saturdays. Friday afternoons may also be affected by prayers.
• No Holding of Foreign Balances: Physical money changers do not allow you to hold foreign currency balances; you must convert immediately.
• Note Condition Requirements: Damaged or older notes may be rejected or exchanged at less favourable rates.

Find The Arcade Too Far? Online Money Changers to Consider

Wondering about “money changers near me?” in your head? You’re not alone.

Online money changer platforms exist and offer a convenient alternative. Apps like iChange and mChanger.sg allow you to compare rates from licensed money changers and complete transactions digitally. Thin Margin lets you order currencies online securely and even have them delivered to your doorstep—talk about convenience!

The benefits of using an online money changer include:

• Rate Comparison: View real-time rates from multiple vendors.
• Convenience: No need to travel. You can lock in rates and collect cash later or use a multi-currency wallet.
• Send Money Overseas: Some platforms also facilitate international transfers, a service that physical money changers typically do not offer.

For frequent travellers, digital wallets like YouTrip and Wise also provide wholesale exchange rates with zero foreign transaction fees, often beating physical money changer rates for popular currencies.

Conclusion: Best Practices for Currency Exchange in Singapore

Whether you are exchanging currency for business purposes or personal travel, getting the best rates requires a bit of strategy. Here are some final tips:

• Compare Rates: Shop around! Always compare at least three money changers before deciding. Rates at The Arcade are updated every 15–30 minutes.
• Avoid Peak Hours: Lunchtime (12 PM–2 PM) on weekdays sees long queues. Visit mid-morning or early afternoon for a smoother experience.
• For Large Amounts, Negotiate: If you are exchanging S$1,000 or more, politely ask for a better rate. Many money changers will accede to your request.
• Check Your Notes: Before leaving the counter, count your notes and check their condition to avoid receiving torn or old bills.

For business owners looking to manage their finances more effectively, explore our guides on the reasons for a business loan and business loan interest rates. If you need to assess your company’s financial standing, understanding your Credit Bureau Report (CBS) Singapore is also a crucial step.

For more money-saving tips, check out our upcoming guide on the best money changer in Singapore – List of Best Money Changers in Singapore – Rates (2026) (link coming soon).