Million Dollar Exchange is a licensed money changer established on June 1, 2005, strategically located at #B2-K18/19 in Westgate Mall's basement level, providing convenient currency exchange services for both mall shoppers and MRT commuters. With nearly 20 years of operation in Singapore's competitive money changing industry, the business has built its reputation on accessibility and consistent service, operating daily from 11:00 AM to 9:00 PM with extended 10-hour service windows. The company operates as a sole proprietorship under Singapore's financial regulations, offering traditional walk-in money changing services with real-time exchange rate updates throughout business hours to ensure customers receive current market rates.
The exchange offers comprehensive currency services including both buying and selling of multiple foreign currencies such as USD, MYR, THB, EUR, and other major international currencies. Their service model emphasizes rate transparency by providing comparative rate information alongside industry benchmarks, helping customers make informed decisions about their currency exchanges. The business maintains varying stock levels across different currencies, with customers advised to call ahead at +65 6235 2909 for availability confirmation, particularly for large transaction amounts. This proactive approach to inventory management ensures efficient service delivery while managing the inherent volatility of foreign exchange markets.
What distinguishes Million Dollar Exchange is its strategic positioning within Westgate Mall's bustling retail environment, providing easy access via Jurong East MRT Station (Exit A) for both planned visits and spontaneous currency exchange needs. The location benefits from high foot traffic and convenient operating hours that accommodate various customer schedules, from business travelers to holiday shoppers. While customer feedback varies across different review platforms, reflecting the diverse expectations in Singapore's competitive money changing landscape, the business continues to serve the western region's currency exchange needs through its consistent presence, extended operating hours, and commitment to providing accessible foreign exchange services within a modern shopping mall environment.
I had a very disappointing experience with the elderly Indian man, who is believed to be the owner. He was rude, arrogant, and displayed racist behavior. Be cautious and ensure you get the exchange rate they advertise, as there is a risk of being cheated. Additionally, their exchange rate is lower compared to other money changers. For example, Allbest Money Changer offers 3.48 for Malaysian Ringgit today, while these guys offer only 3.47.
If you're not convinced, see the response from the owner. His attitude is evident.
Igor Volkov
I had a disappointing experience here when trying to exchange USD notes printed in 2008. The staff claimed the notes were "useless nowadays" and offered an unbelievable exchange rate of 1 USD = 1 SGD. Later, I exchanged the same notes at Lucky Plaza for 1 USD = 1.27 SGD, proving that their claim was completely misleading.
This wasn't my first frustrating experience here. Previously, I exchanged Taiwanese dollars to Singapore dollars at this location at Westgate, only to later discover that Mustafa Exchange offered a rate 15% more favorable for customers.
If you're looking for fair and competitive rates, I’d strongly recommend doing your research before exchanging your money here. Otherwise, you might end up with a financial loss—just like I did
MingYao Tan
黑店。 wanted to sell back a small quantity of NTD 4,800. He offered SGD 144 (effective Fx rate around 33 NTD per 1 SGD), where market rates are currently 23
Lisha Kurian
I had a very disappointing experience with the elderly Indian man, believed to be the owner. He was rude, arrogant, and displayed racist behavior. Be cautious and ensure you get the exchange rate they advertise, as there is a risk of being cheated. Additionally, their exchange rate is lower than other money changers. For example, Allbest Money Changer offers 3.48 for Malaysian Ringgit today, while these guys offer only 3.47.
If you're not convinced, see the response from the owner. His attitude is evident.
Ming Yeow Tan
黑店。 I wanted to sell back NTD 4,800. He offered SGD 144 (effective Fx rate around 33 NTD per 1 SGD), where market rates are currently 23 NTD per SGD.
Ivor Fok
I had a disappointing experience here when trying to exchange USD notes printed in 2008. The staff claimed the notes were "useless nowadays" and offered an unbelievable exchange rate of 1 USD = 1 SGD. Later, I exchanged the same notes at Lucky Plaza for 1 USD = 1.27 SGD, proving that their claim was completely misleading.
This wasn't my first frustrating experience here. Previously, I exchanged Taiwanese dollars to Singapore dollars at their Westgate location, only to later discover that Mustafa Exchange offered a rate 15% more favorable for customers.
If you're looking for fair and competitive rates, I’d strongly recommend doing your research before exchanging your money here. Otherwise, you might end up with a financial loss—just like I did.
Positive Reviews
LessTrodden Path
Friendly chap. Very fair n good rates.
Location is at Lobby B (NOT Lobby A!) As there are 2 lobbies. Go to the area near the food stalls at Lobby B
Thiggz
Pretty nice guy. I actually miscalculated the amount of Japanese currency I gave him (he kindly checked and corrected me, it was a larger amount). He asked if I had 5 dollars to give me bigger denominations but had no problems giving me smaller denominations when I said I didn't have it.
Tiggs
Pretty nice guy. I actually miscalculated the amount of Japanese currency I gave him (he kindly checked and corrected me; it was a larger amount). He asked if I had $5, so he could give me bigger denominations, but he had no problems giving me smaller denominations when I said I didn't have it.
Unbeaten Trail
Friendly chap. Very fair and good rates.
Location is at Lobby B (NOT Lobby A!), as there are 2 lobbies. Go to the area near the food stalls at Lobby B.
