Want to get some Singapore dollar (SGD) banknotes to take with you when travelling to Singapore?
You can use a credit card to purchase Singapore dollars in Australia or while you’re in Singapore. But, there are a few important things to bear in mind since it can be costly. Find out how it works with this guide.
Inside this guide
Before travelling
Buying Singapore dollars with a credit card in Australia
If you're thinking about using your credit card to purchase Singapore dollars in Australia, there are several options. If you've never used your credit card for this before — or you aren’t sure what the fees are — read the following prior to making a purchase.
What cards you can use
- American Express, Mastercard, and Visa. You can buy Singapore dollars using any Australian credit card. However, buying foreign currency will be classed as a cash equivalent which will incur the interest rate for cash advances and the cash advance fee in addition.
Where you can buy Singapore dollars with a credit card
- Your bank's local branch. Using your bank may be one of the easiest ways to get Singapore dollars, but their exchange rates probably won’t be the most favourable.
- Currency exchangers. Travelex, Travel Money Oz, and other exchangers sell Singapore dollars (and other currencies).
- Money transfer services. You can use an international money transfer service to send Singapore dollars to someone or a business. Their rates are typically very competitive.
While overseas
Buying Singapore dollars with a credit card while in Singapore
If you’re already in Singapore, there are pros and cons to consider before using your card to get Singapore dollars.
- At a bureau de change. Finding an exchange bureau where you can buy Singapore dollars is easy. However, purchases at a bureau de change will be classified as a cash equivalent and incur interest at the cash advance rate. A cash advance fee will also apply, plus a foreign currency fee if your card charges one.
- Withdrawing from an ATM. Using an ATM may be convenient, but it is a very expensive way to get Singapore dollars and is best avoided. Not only will you be charged interest at the cash advance rate and a cash advance fee, but you’ll also incur a fee for using an overseas ATM. There's also the possibility of an additional fee for transactions in foreign currencies.
What it might cost
Fees
| Type of fee | Incurred in Australia? | Incurred overseas? | Cost |
|---|---|---|---|
| Cash advance interest | Yes | Yes | Around 20% (daily, no interest-free period) |
| Cash advance fee | Yes | Yes | 2 - 3% (one-off) |
| Foreign currency fee | Yes | Yes | 2 - 3% (one-off) |
| Overseas ATM withdrawal fee | No | Yes | 2 - 3% (one-off) |
Using a credit card with no international transaction fee while overseas can help cut the cost of travel.
Want more help?
FAQs
Can you earn credit card points when buying Singapore dollars?
No. Buying Singapore dollars or any other foreign currency such as New Zealand dollars will be classed as a cash equivalent and won't earn any points.
Can you get cashback when buying Singapore dollars?
No. It will be regarded as an equivalent to cash and won’t earn cashback.
