Money and Banking

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Money and Banking

U.S. Banking Facilities

There is a full-service Navy Federal Credit Union Member Service Center at Bldg. 7-4 Sembawang location. Membership is open to those military and DoD personnel stationed in Singapore. There is a Navy Federal ATM which dispenses U.S. dollars located at the Terror Club.

Currency Exchange

A "Cash Cage" is located on the first floor of Bldg. 7-4, where you can cash cashier's checks up to $2,000 per day and exchange U.S. currency for Singapore Dollars. The cash cage is open 10:00 a.m.-3:30 p.m. Monday through Friday, and it is closed on weekends, U.S. holidays, and local holidays.

Singapore Banking Facilities

You may find it necessary to open a local account at a local banking institution in Singapore. Check with the institutions for their specific services and fees. There is a minimum balance required to keep the accounts open, and these vary among institutions. When opening a local account, you must have your passport with appropriate immigration stamps. Most institutions will accept a U.S. check, but it will take 3-6 weeks to clear and there will be a fee for this service.

ATMs are available throughout the island. Service charges vary with each ATM, and balances are shown in Singapore Dollars, not U.S. Dollars.

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