Money in Singapore

The currency used in Singapore since 1967 has been the Singapore dollar. The Singapore dollar officially replaced the previous currency, the Malaya and British Borneo dollar in that year. Bank notes are available for the denominations of 2, 5, 10, 50, 100, 1000 and 10000 Singapore Dollars.

There are several international banks active in Singapore, including Citibank, Maybank, and Standard Chartered - and most of the international banks don't charge their customers for each others' ATM use. There are many different national banks in the country. It is not unusual for Singapore banks in this information age to make use of current information technology including automated phone banking or online website banking, which many in Singapore are resorting to so they can decrease the lengthy waiting queues in the branches.

Anyone can open a bank account in Singapore, if they don't have a passport they may be able open one online through the internet without even going to the bank. Those getting a bank account can apply to have a Singapore dollar credit card. Most international credit cards, like MasterCard and Visa, are accepted in Singapore, and there are abundant ATM machines that are useable with international debit cards, although they can be shut off at night time.