Get the Best Currency Exchange Rate with iChange App

If you have been traveling overseas and you want to get the best exchange rate, check out iChange. I have been introduced to iChange a month ago and I have been trying out different ways to use it before I dare to post this article.

Referral Code: teh38

What is iChange

If you have been using Youtrip or Revolut, it is similar to them except that it uses real money changer for the best rates. These sum up the iChange features.

  • Money Changing Marketplace
  • Send Money Overseas
  • Multi Currency Wallet / Card
  • Local & Overseas Bill Payments

To put it in simple terms, use iChange as a digital wallet for multiple currencies, and changing your currencies digitally (to your e-Wallet) or physically (go to the currency changer) with the best rates.

I will write this article based on my experience. First, the digital currency exchange rate is amazing. You know that currently, Japan Yen is weak, and it is the best time to change it. Normally, I would use XE Currency to check the rate, and I will use Youtrip to check against it. After using iChange, I stopped changing it on Youtrip. Check out the rate today (24-Sep 10pm Singapore Time) as compared to XE Currency.

Left: iChange, Right: XE Currency

And you know what, Youtrip exchange rate is 107.9 yen per 1 Singapore dollar. What’s more, you can see (from iChange app) that it is a physical shop at Harbourfront.

iChange will provide a few exchange rates for you to choose. Of course, we will choose the best one. However, do note that sometimes, it will show that the shop does not have enough to convert for you. In this case, you will need to opt for the next best one.

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So far, it has quite a number of popular currencies that you can exchange. I know that Malaysia Ringgit is one of the popular ones. The exchange rate is superb at 3.4659 Malaysia Ringgit (24-Sep 10pm Singapore Time) for 1 Singapore Dollar.

Signing up for iChange

When you sign up (download the iChange app on Google Playstore or Apple Store), they will need your personal information. You can use Singpass to retrieve them. Once the process is completed, you will be able to use it immediately.

A few days later, you will get the physical iChange Mastercard (it is a debit card).

My suggestion is that you use a referral code when you are signing up because if it is successful, you will get S$5 in your wallet and the referral will get the same amount.

I do encounter some problem on the referral though (as I can see a few referrals, but I only get one successful one sent to my wallet). Nevertheless, it is worth a try.

My referral code is: teh38

Disclaimer: I do get some a S$5 referral benefit to my ewallet when you use my referral code.


I have used the digital wallet for my purchase in USD online. It works well. I have also used the physical card in Singapore and it automatically selects the Singapore dollar from the ewallet.

I will be using it next week in Japan. Will update again.

As for the Currency Exchange, I have exchanged USD, Korean Won and Japanese Yen digital. Yesterday (23-Sep), I went to Harbourfront to change some Japanese Yen physically.

As it was my first time, I went to the shop and asked if they have the same exchange rate as shown on iChange. The person sheepishly told me to key in the Japanese Yen I want and pay via the app (using PayNow). When it was done, I showed him the details and I got the Japanese Yen. Very simple.

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This is my receipt. The exchange rate is 107.5.

You can check out their website or HERE for more details. I suggest you read the FAQ about iChange HERE. One common question should be this.

Where is my money stored?

The safety and integrity of your funds with iChange is of utmost priority to us. Your iChange funds are deposited into an account held with the DBS Bank Limited by SLIDESG PTE LTD, a Major Payment Institution approved and licensed by the Monetary Authority of Singapore under the Payment Services Act and is subject to MAS oversight. Your money is therefore stored independent from iChange accounts in a safe and regulated manner. To further add to the security, all your card transactions are proceeded through the stringent Mastercard processes and is protected by Mastercard rules and standards.

If you have been using iChange, do let me know your thoughts on it. BTW, one last advice, if you are in a foreign country, do make sure that you have enough currency of that country in your ewallet before you make any purchases. From my friend, he mentioned that he had a lousy exchange rate because he forgot to change it before purchase.