I believe most of the business owners and stall keepers (Of Singapore descent) know that Brunei notes is legal tender in Sg. However, the reason why some.of them dont want to take Brunei notes is because of the hassle when they deposit their cash sales. I uses to work part.time in a restaurant where the manager will tell us to "smoke" the customer and try to reject the Brunei notes if possible because if got Brunei notes, the automated deposit machine cannot accept it. They can only deposit manuallyover the bank teller counter and all of us know that bank queues can be scarily long at times.
Ya I think Singaporeans know Brunei notes are legit lah. But it's just too mah fan. Apart from that, a lot of people working in the service industry in Singapore are from China or Malaysia. China people probably wouldn't know about Brunei money. Idk about Malaysians
same to mutilated/damaged currency notes/coins, technically they still carry values. I believe some stall keepers do not accept them for the exact same reason. hassles.
bruneian here , i remember during eid my uncle gave me a 2 sgd and i used it at my school's canteen back in those days , probably 6 y ago and it ofc was accepted . havent been to sg since 2014 , hopefully 1 day when covid goes down for good forever
@@SuccessforLifester eid al fitr , for muslims after fasting in ramadhan where we seek forgiveness with our muslim relatives , friends , acquaintances , and more . We visit their places too , invite each others and strengthen our bonds wt each other.
An interesting topic for sure. On my frequent trips to SG, the percentage of vendors that accept BND is fairly accurate, about 50%. I’ve had big chain stores, taxi drivers and restaurants refuse to accept BND, even vendors at the airport. Money changers have also reluctantly accept BND but with lower exchange rates claiming Singapore banks give them a hard time when they transact with BND. Suggest MAS offer a BND/SGD ATM at the airport for passengers going thru to avoid all these troubles as even the money changer counters at Changi frown upon changing BND to SGD, even though they are run by local banks.
During my visit to Bandar Seri Begawan, Brunei Darussalam 🇧🇳, I had a memorable encounter settling my hotel bill in Singaporean Dollars, which added an interesting twist to my cross-cultural experience. The hotel, conveniently located near the renowned Omar Ali Saifuddien Mosque and the lively Kianggeh Market, served as a central hub for immersing myself in the local atmosphere. Exploring the Kianggeh Market, I had the pleasure of trying local delicacies like Nasi Katong, paying for them effortlessly using Singapore Dollars. What stood out was the accommodating currency system accepting both Singaporean and Bruneian Dollars, highlighting the amicable economic ties between these neighboring nations. This flexibility made it easy for me to navigate the vibrant markets of both Singapore 🇸🇬 and Brunei 🇧🇳. Interestingly, in Brunei, they refer to their currency as 'Ringgit,' even though it's officially known as the Brunei Dollar, adding a unique linguistic nuance to the financial transactions.
A few trips to Brunei, I have no issue using the Singapore Notes. But I have issue using Brunei Notes in Singapore, especially small vendors. Many of the businesses now days hired foreign employees which they don’t know about this agreement, those business owners who knew find it a hassle to accept Brunei Notes.
@@last_boystandingCorrect. Even on our Malaysian currency before 1993, we use $ sign on our notes and $1 coin. In 1994 then Malaysian government decided to replace the M$ with RM
To answer your question, yes you can use your Singapore dollar in Brunei. Make sure it's not torn, they won't accept it 😃 I'm a Bruneian and to be safe, like what was shown in the video where some vendors don't accept Brunei notes, I avoid bringing them with me and have to withdraw from the ATM in Changi which have extra fee I have to pay (based on my experience of travelling to Singapore frequently 😁)
As a Singaporean that have been to Brunei, yes this is correct. Torn note and 1 dollar coin they won't accept. In Singapore the reason why it is alittle difficult because most working in retail and coffeeshop are mixed with immigrant workers, therefore they do not know that Bunreian money are accepted by the agreement. They usually will called their supervisor to confirm because they rarely see Bruneian dollars note. Also fun facts : In South Korea, Myeongdong there is only one bank in the entire city that kinda except exchange with Bruneian money, but not always as the demand is low they can reject it. Best options travel anywhere just change it before reaching your destination and if anyone happen to visit SG then just use cashless except for coffeeshop
@@pedikgpasirpandak9446 No they can't, I tried giving them $1 coin but get rejected. Reason why was because their $1 is note not coin so it's basically useless for them
Under a Currency Interchangeability Agreement in 1967, the Brunei dollar is interchangeable with the Singapore dollar at par. As such, the Brunei dollar is accepted in Singapore as "customary tender"; likewise, the Singapore dollar is accepted in Brunei : Wikipedia
50% stall vendors wont accept bruneian notes. i had to either withdraw some sg notes at airport (baiduri atm) or convert it to usd in brunei. else i just use my card in sg. but funny story, the employess at madame tussauds are very happy to receive $50 bruneian note from us (we paid our tickets there with the note). one of the guys apparently collects them and said very rare to get one 😂
At my stall, I was given brunei notes and gave change as brunei notes as well. Some got confused as to why they gotten brunei notes instead, especially the older generation. Until I explained to them, most of them understand. Some, don’t. Fine, i’ll give SGD notes instead 😅. (I quietly wonder if this agreement was set way back in 1967, how can the older generation still not know? 🙃)
Bruneian here, no one bats an eyelid out here when you pay in SGD, unless it's torn. "Coin"-cidentally, just this morning I tried to take out all my small copper coins from my wallet to pay in single-digit cents, the helpful cashier lady pointed out a Singapore 5c was on my stack of Brunei 1c coins so she returned a few cents. They look the same!
loll i received a $10 brunei currency for my money change not long ago in Macdonalds. then i asks the staff this note is Brunei currency can use mehh. he say Brunei notes can be used everywhere in sg and then asks me w a curious looks “u dk mehh?” great to know now that i’m not the only one living under the rock since some vendors don’t accept
first time i used Brunei notes was in 2005. my nearest money changer ran out of $10 SGD notes. to my surprise no one refused the BND note, not supermarkets or ez-link top up office back then. now looking back i'm really impressed people know what it is.
I'm Bruneian. All SGD notes and coins (excluding SG$1 coins) are well accepted in Brunei. Vendors here won't accept torn SDG notes. On the other way around, Singaporean vendors do only accept BND notes but not coins. I would say that 70-80% of the Singaporean vendors/shops accept BND notes.
It is easier to use Singapore dollar in Brunei than using Brunei Dollar in Singapore. Also I was told before, we can file a complaint (in Singapore) if the vendor/ shops did not want to accept Brunei dollar.
Up to early 90s, I remembered I could use Singapore notes and coins in Malaysia. It was until Dr M who enforced all transactions in Ringgit that this loose interchangeability no longer happens. Apart from some private taxis who still only insist on Singapore dollars (not Brunei dollars) because I happen to see that the rate in Malaysia for Brunei dollars are actually lower
Not many market shop owner knows that Brunei dollar is legal tender in Singapore. I have one instance where I was buying Cig from a mama shop aunty and she asked me what type of currency is this and if this can be used in Singapore, which I told her that Brunei dollar is same currency as Singapore dollar and can be used here or there.
many of the store owner don't know they must accept brunei note. For brunei note, store owner to change to Singapore dollar at any branch of bank. no worry.
❌ Wrong! BND and SGD are customary tender, and not legal tender in the other country. Legal tender means that the currency must be accepted in the country and refusal to do so, within the limits stipulated, is punishable by law. It is not possible to enforce acceptance of customary tender currency. In any case, try changing BND in any other country and you will almost certainly get slightly less than what you would get if you had exchanged Singapore dollars instead. This is a clear indicator that the market values the BND slightly less, regardless of whatever the interchangeability agreement says.
This excerpt is extracted from a Mothership article dated 6 July 2017 titled "You can report merchants in S'pore who don't want to accept Brunei notes": "Customary Tender", not "Legal Tender". Whut? "...All banks in Singapore are obliged to exchange Brunei currency notes and coins at par and without charge. However, local businesses in Singapore are not obligated to accept Brunei currency, but are widely encouraged to do so."
20 years ago u could do that,now it boils down to luck cause 43 percent of the people residing or working in singapore weren't born here or are children of immigrants born post early mid 2000s.
Not a problem using SGD notes and coins in Brunei, with the exception of the SGD $1 coin. I’m not sure why but all the other notes and coins aren’t a problem. As a Bruneian, our coins are all mixed up with SGD coins. 😂 Half the time, my wallet has both SGD and BND. And I welcome receiving SGD cos when I travel to Singapore, it helps when someone won’t accept BND. But Singaporeans never need to worry about changing money to BND when they come over. 😊
one time a shopkeeper gave me a brunei note and i didn't know that it's actually interchangeable with sgd and i asked him if i could get my change in sgd instead ..went home told my mum about it and she told me it's the same lol
most stall do not accept bruneian dollar becos it is hard to deposit at the bank. given that branches are reduce, these business have to find time to visit a branch to deposit the bruneian dollars. therefore, if MAS is sincere in upholding the agreement. all atm deposit machine should be made to recognise bruneian dollars as well.
Can you use Brunei money in S'pore? The answer is YES !!! Because, Brunei $1.00 = SGD 1.00, same par . 👍👍👍👍👍👍 💪💪💪💪💪💪 This has been circulate since 1970s' if I can still remembered .
This is a very good test that you did. We do know of this interchangeability but not many people do recognize the Brunei dollars. You should try it in the NTUC or Daiso automated cash machines. If machines can recognize these notes, I personally feel that normal humans should not be faulted for that too.
That goes without saying that Brunei and Singapore dollar are on par. Why so many ignorant people these days? We remember independence in 1965, but doesn’t know about the interchangeability agreement in 1967?
Just visited both countries and it was a running joke for me to ask if the vendor in Singapore took Brunei dollar because no one wanted it. Not even the currency converters were willing to exchange it. Had to offer a tip for one converter to exchange for me.
Brunei dollar is Singapore dollar, only the picture is different. Brunei does not have their own central bank as their economy is too tiny; it uses MAS as their central bank. All brunei banks in Brunei (I think) governed by same Singapore banking rules. If Brunei bank in Brunei needs Brunei dollar, ask MAS to print with Brunei sultan picture, pay for in USD at prevailing SGD/USD rate. Brunei could have an agreement with US(or any country, Malaysia?) to use USD instead of SGD if they wanted to. All depends on agreement.
Brunei do have own Central Bank actually. Anyway.. due to the local par value of BND:SGD agreement there's an advantage for businesses. Internationally SGD has a slightly higher rate than BND. Especially for online international purchases, If there's a choice.. would prefer to pay in SGD since the local banks still par SGD to BND.. in this sense, Bruneians pay lesser to international sellers. But lets say.. Paypal or any other platforms has an option to remit your money from USD into your local bank account, it's better to be remitted to you in BND, you'll get tad bit more than you expected if you chose SGD instead, and if you gonna withdraw the amount from the bank, you'll still get SGD from the ATM anyway.
@@rafiedaud3533Official notes from Brunei Central Bank: "Brunei Darussalam's monetary system is based on the Currency Board Arrangement, which is underpinned by the Currency Interchangeability Agreement between Brunei Darussalam and Singapore. The Currency Board Arrangement Under pegged exchange rate systems, currency boards back up the total amount of currency issued in the economy with an equivalent amount held in reserves of the currency board. In Brunei Darussalam, the local currency is pegged to the Singapore dollar at par. Under the Currency Order, 2004, only BDCB is allowed to issue Brunei notes and coins. Additionally, the Currency Order, 2004, also requires us to back up every note and coin issued. This is to ensure confidence and stability in the Brunei dollars, and hence, eases trade and investment."" My apology. I was using theory to understand how Brunei dollar and SGD could be at par. My understanding is that the Brunei dollar is just a formality in the forex market as its economy is tiny and almost non-existent - except for oil USD. So if there is a Brunei central bank, I can't see how it plays any banking role except to have an agreement with Singapore MAS. I don't understand the technicality of Brunei dollar 100% back by SGD reserves.
Does anyone know why don't Singapore and Brunei come out with a joint issued currency like the EURO? Then for sure no issues with legal tender of the notes
Yeah, your suggestion seems legit. I mean if the usage can be widened to ASEAN, that will be better. Liked Europe having its own currency-EURO, I do hope that ASEAN can produce such. That will be easier for us in ASEAN
The problem with accepting the brunei notes by the hawkers, they will have problem depositing it using the ATM, the ATM machine will reject the brunei notes. So hawker need to q up in bank to deposit it.
This happened to me also, not Singapore but in Korea. I have both SGD and BND, that time I want to do an experiment so I went to the bank and change my SGD and seem like every banks in Seoul have no issue to accept SGD. But when I tried the BND, many just instantly reject and only one bank in the entire Seoul accept BND which is interesting
I think the Malay lady in the video should not be so polite. She should just pay using the Brunei money. If the stall owners refuse to accpet, she should just say :" Uncle, don't tell me you don't know that Brunei can be used in S'pore. U doing business for how long already? U need me to make police report huh?"
"Legal tender" has a specific meaning. Just because a currency is "legal tender" it doesn't mean a stall owner has to accept it. Likewise they can choose to accept payment by other means which are not legal tender if they want to (for example cryptocurrencies).
For you, yes!!! But the acceptor will have to either charge you higher for the exchange item or not give you their customary discount. Anyway, the acceptor(s) can accept your BNs but will have to give your change in SD and coins and then the acceptor can subsequently convert their BN tally into SD with one of the many non bank DC merchant. Why non bank FXM, you may asked? Simple non bank FXMs are known to offer favourable fx rare sans commission and fees. Again, you may asked this preference high rate sans comm/fees. The answer is simple. First non bank FXM DONT GIVE OUT detailed trans receipts, instead they dish out printer calculator printout. Next, the exch rotation cycles are fast and multiples. Finally any merchant in any busy and popular tourist loca will accept major world currencies. Except the current less favored rupee!!!! 😅😅😅😅😅
It depends on which party is controlling the money supply as part of the agreement. If it's Malaysia, and they start printing the currency like crazy, it will pull Singapore and Brunei down with it. From what I understand, due to the agreement, the amount of BND Brunei can print is controlled by the MAS.
Suppose I am going to sell my old antique watch for 1 million dollar and someone is willing to buy it but he only have $990 000 Brunei dollar with him, I will definitely have no problem with it and will gladly accept the $990 000 Brunei dollar
Funny thing is most people in brunei knows about this agreement, but most in singapore (especially the younger ones) dont know about this
Cuz singapore well known, brunei not so well known
In Singapore using Brunei note is like a 50-50 chances, but in Brunei I’d say majority of shops accept sgd notes as long as it’s in good condition
I believe most of the business owners and stall keepers (Of Singapore descent) know that Brunei notes is legal tender in Sg. However, the reason why some.of them dont want to take Brunei notes is because of the hassle when they deposit their cash sales. I uses to work part.time in a restaurant where the manager will tell us to "smoke" the customer and try to reject the Brunei notes if possible because if got Brunei notes, the automated deposit machine cannot accept it. They can only deposit manuallyover the bank teller counter and all of us know that bank queues can be scarily long at times.
100% agreed. Our banks should look into that. Afterall, we only have 1 country which we have interchangeablity agreement with
Exactly OP
Ya I think Singaporeans know Brunei notes are legit lah. But it's just too mah fan. Apart from that, a lot of people working in the service industry in Singapore are from China or Malaysia. China people probably wouldn't know about Brunei money. Idk about Malaysians
same to mutilated/damaged currency notes/coins, technically they still carry values. I believe some stall keepers do not accept them for the exact same reason. hassles.
@@xoxo3836 As a Malaysian it depends, I don't know the exact percentage. But I know in fact some know about this.
Not all the sellers are Singaporeans. That's why some are not accepting it, they don't know what's the historical consensus between BND and SGD.
bruneian here , i remember during eid my uncle gave me a 2 sgd and i used it at my school's canteen back in those days , probably 6 y ago and it ofc was accepted . havent been to sg since 2014 , hopefully 1 day when covid goes down for good forever
bruneians are always welcome here, our countries have a special relationship
EID stands for what ?
@@SuccessforLifester eid al fitr , for muslims after fasting in ramadhan where we seek forgiveness with our muslim relatives , friends , acquaintances , and more . We visit their places too , invite each others and strengthen our bonds wt each other.
@@nonstopmuazz Oh I see. Thanks
An interesting topic for sure. On my frequent trips to SG, the percentage of vendors that accept BND is fairly accurate, about 50%. I’ve had big chain stores, taxi drivers and restaurants refuse to accept BND, even vendors at the airport. Money changers have also reluctantly accept BND but with lower exchange rates claiming Singapore banks give them a hard time when they transact with BND. Suggest MAS offer a BND/SGD ATM at the airport for passengers going thru to avoid all these troubles as even the money changer counters at Changi frown upon changing BND to SGD, even though they are run by local banks.
Just get wise debit card or big pay, the forex rate is fair.
During my visit to Bandar Seri Begawan, Brunei Darussalam 🇧🇳, I had a memorable encounter settling my hotel bill in Singaporean Dollars, which added an interesting twist to my cross-cultural experience. The hotel, conveniently located near the renowned Omar Ali Saifuddien Mosque and the lively Kianggeh Market, served as a central hub for immersing myself in the local atmosphere. Exploring the Kianggeh Market, I had the pleasure of trying local delicacies like Nasi Katong, paying for them effortlessly using Singapore Dollars. What stood out was the accommodating currency system accepting both Singaporean and Bruneian Dollars, highlighting the amicable economic ties between these neighboring nations. This flexibility made it easy for me to navigate the vibrant markets of both Singapore 🇸🇬 and Brunei 🇧🇳. Interestingly, in Brunei, they refer to their currency as 'Ringgit,' even though it's officially known as the Brunei Dollar, adding a unique linguistic nuance to the financial transactions.
Ringgit is malay word for dollars
@@dannychin6674 yes, I know. But Malay Singaporeans never called it Ringgit, instead Dollar
A few trips to Brunei, I have no issue using the Singapore Notes. But I have issue using Brunei Notes in Singapore, especially small vendors. Many of the businesses now days hired foreign employees which they don’t know about this agreement, those business owners who knew find it a hassle to accept Brunei Notes.
Yeah exactly all the foreigner cashier never see before
was told by my parents since young that Brunei currency is exactly the same as Singapore's, maybe some people mistake it as Malaysian ringgit
But in Brunei, they call it ‘Ringgit’ even though it mentions Brunei Dollar
@@wildan__gohits because dollar in malay is ringgit
@@last_boystandingCorrect. Even on our Malaysian currency before 1993, we use $ sign on our notes and $1 coin. In 1994 then Malaysian government decided to replace the M$ with RM
To answer your question, yes you can use your Singapore dollar in Brunei. Make sure it's not torn, they won't accept it 😃 I'm a Bruneian and to be safe, like what was shown in the video where some vendors don't accept Brunei notes, I avoid bringing them with me and have to withdraw from the ATM in Changi which have extra fee I have to pay (based on my experience of travelling to Singapore frequently 😁)
As a Singaporean that have been to Brunei, yes this is correct. Torn note and 1 dollar coin they won't accept. In Singapore the reason why it is alittle difficult because most working in retail and coffeeshop are mixed with immigrant workers, therefore they do not know that Bunreian money are accepted by the agreement. They usually will called their supervisor to confirm because they rarely see Bruneian dollars note.
Also fun facts : In South Korea, Myeongdong there is only one bank in the entire city that kinda except exchange with Bruneian money, but not always as the demand is low they can reject it. Best options travel anywhere just change it before reaching your destination and if anyone happen to visit SG then just use cashless except for coffeeshop
do Bruneian accept SGD Coins ?I do have plenty of them..heheheehhe...
@@pedikgpasirpandak9446 No they can't, I tried giving them $1 coin but get rejected. Reason why was because their $1 is note not coin so it's basically useless for them
Yes they do accept coins accept for the $1 coin
Under a Currency Interchangeability Agreement in 1967, the Brunei dollar is interchangeable with the Singapore dollar at par. As such, the Brunei dollar is accepted in Singapore as "customary tender"; likewise, the Singapore dollar is accepted in Brunei
: Wikipedia
50% stall vendors wont accept bruneian notes. i had to either withdraw some sg notes at airport (baiduri atm) or convert it to usd in brunei. else i just use my card in sg. but funny story, the employess at madame tussauds are very happy to receive $50 bruneian note from us (we paid our tickets there with the note). one of the guys apparently collects them and said very rare to get one 😂
At my stall, I was given brunei notes and gave change as brunei notes as well. Some got confused as to why they gotten brunei notes instead, especially the older generation.
Until I explained to them, most of them understand. Some, don’t. Fine, i’ll give SGD notes instead 😅.
(I quietly wonder if this agreement was set way back in 1967, how can the older generation still not know? 🙃)
You can even use Singapore coins in Brunei.
Bruneian here, no one bats an eyelid out here when you pay in SGD, unless it's torn. "Coin"-cidentally, just this morning I tried to take out all my small copper coins from my wallet to pay in single-digit cents, the helpful cashier lady pointed out a Singapore 5c was on my stack of Brunei 1c coins so she returned a few cents. They look the same!
Not all I tried they rejected SGD for some shops.
when i was training with SAF at temburong i had zero problems using SGD notes
@@xcre8ionxprobably because its torn. lol
Is Singapore one cent accepted in Brunei ?
How is the price of goods in Brunei? For example how much do I need to pay for lunch for a simple meal ?
I mean you can if you are in bruenei, and vice versa...but i think as a backup
Malaysia changed its mind very quickly.
It is difficult to trust any agreement with Malaysia.
When talk about Sing$, MAS and Brunei Dollar, I am grateful to our early year two Economic Mighty, Dr. Goh Keng Swee and Hon Sui Sen.
loll i received a $10 brunei currency for my money change not long ago in Macdonalds. then i asks the staff this note is Brunei currency can use mehh. he say Brunei notes can be used everywhere in sg and then asks me w a curious looks “u dk mehh?”
great to know now that i’m not the only one living under the rock since some vendors don’t accept
first time i used Brunei notes was in 2005. my nearest money changer ran out of $10 SGD notes. to my surprise no one refused the BND note, not supermarkets or ez-link top up office back then. now looking back i'm really impressed people know what it is.
Thank you for the useful and informative content 🎉❤
You also can use Brunei dollar in Labuan FT island.not all shop , a few shop.
In macau, you can also use HKD or CNY 1 to 1 to 1. But you obviously lugi la
SG notes are readily accepted in Brunei. The $2 is iffy a bit. SG Coins in my experience are not generally accepted.
I'm Bruneian. All SGD notes and coins (excluding SG$1 coins) are well accepted in Brunei. Vendors here won't accept torn SDG notes.
On the other way around, Singaporean vendors do only accept BND notes but not coins. I would say that 70-80% of the Singaporean vendors/shops accept BND notes.
Please go Brunei and test it out! I am very curious!!!
It is easier to use Singapore dollar in Brunei than using Brunei Dollar in Singapore. Also I was told before, we can file a complaint (in Singapore) if the vendor/ shops did not want to accept Brunei dollar.
Up to early 90s, I remembered I could use Singapore notes and coins in Malaysia. It was until Dr M who enforced all transactions in Ringgit that this loose interchangeability no longer happens. Apart from some private taxis who still only insist on Singapore dollars (not Brunei dollars) because I happen to see that the rate in Malaysia for Brunei dollars are actually lower
Some Malaysian taxi drivers etc accept SGD cause it's higher rate haha
Not many market shop owner knows that Brunei dollar is legal tender in Singapore. I have one instance where I was buying Cig from a mama shop aunty and she asked me what type of currency is this and if this can be used in Singapore, which I told her that Brunei dollar is same currency as Singapore dollar and can be used here or there.
many of the store owner don't know they must accept brunei note. For brunei note, store owner to change to Singapore dollar at any branch of bank. no worry.
Ah shit, Malaysia missed the boat, again.
❌ Wrong! BND and SGD are customary tender, and not legal tender in the other country. Legal tender means that the currency must be accepted in the country and refusal to do so, within the limits stipulated, is punishable by law. It is not possible to enforce acceptance of customary tender currency.
In any case, try changing BND in any other country and you will almost certainly get slightly less than what you would get if you had exchanged Singapore dollars instead. This is a clear indicator that the market values the BND slightly less, regardless of whatever the interchangeability agreement says.
This excerpt is extracted from a Mothership article dated 6 July 2017 titled "You can report merchants in S'pore who don't want to accept Brunei notes":
"Customary Tender", not "Legal Tender". Whut?
"...All banks in Singapore are obliged to exchange Brunei currency notes and coins at par and without charge. However, local businesses in Singapore are not obligated to accept Brunei currency, but are widely encouraged to do so."
20 years ago u could do that,now it boils down to luck cause 43 percent of the people residing or working in singapore weren't born here or are children of immigrants born post early mid 2000s.
Just to share..Singapore banks will not accept brunei notes which have any writings on it or damaged..Etc part of it is torn..
In Singapore, only SGD is LEGAL tender.
Brunei currency is Customary Tender.
The legal position for both is totally different.
Some can, mostly cnt
I'm 60, from ipoh. In 1981 my first trip to spore
I ringgit, 1 spore and 1 Brunei dollar were all the same rate. Those were the days.
Not a problem using SGD notes and coins in Brunei, with the exception of the SGD $1 coin. I’m not sure why but all the other notes and coins aren’t a problem.
As a Bruneian, our coins are all mixed up with SGD coins. 😂
Half the time, my wallet has both SGD and BND.
And I welcome receiving SGD cos when I travel to Singapore, it helps when someone won’t accept BND.
But Singaporeans never need to worry about changing money to BND when they come over. 😊
Malaysia punching Air rn
I thought this was common knowledge.. maybe for my generations 😂
one time a shopkeeper gave me a brunei note and i didn't know that it's actually interchangeable with sgd and i asked him if i could get my change in sgd instead ..went home told my mum about it and she told me it's the same lol
most stall do not accept bruneian dollar becos it is hard to deposit at the bank. given that branches are reduce, these business have to find time to visit a branch to deposit the bruneian dollars. therefore, if MAS is sincere in upholding the agreement. all atm deposit machine should be made to recognise bruneian dollars as well.
Can we call the police if the stall owners not accepting the brunei notes? As its legal tender in SG
Can you use Brunei money in S'pore?
The answer is YES !!! Because, Brunei $1.00 = SGD 1.00, same par . 👍👍👍👍👍👍 💪💪💪💪💪💪
This has been circulate since 1970s' if I can still remembered .
Money is money, you can use any country notes but the exchange rate will be lower than the currency exchange shop
Can you tell me if i can use one cent SGD in Brunei. I have a bag of it.
Confirm can use Spore dollar in Brunei. They dun even blink or ask me anything when we pass them Spore notes.
Brunei is smart to stick it out with Sg rather than Msia
@02june80bhs melayu kau tunggang terbalik. Pening AK baca 😂😂😂
This is a very good test that you did. We do know of this interchangeability but not many people do recognize the Brunei dollars. You should try it in the NTUC or Daiso automated cash machines. If machines can recognize these notes, I personally feel that normal humans should not be faulted for that too.
YES Follow up please!
That goes without saying that Brunei and Singapore dollar are on par. Why so many ignorant people these days? We remember independence in 1965, but doesn’t know about the interchangeability agreement in 1967?
Just visited both countries and it was a running joke for me to ask if the vendor in Singapore took Brunei dollar because no one wanted it. Not even the currency converters were willing to exchange it. Had to offer a tip for one converter to exchange for me.
So where do I get the Brunei. Notes to change from Singapore notes
Brunei dollar is Singapore dollar, only the picture is different.
Brunei does not have their own central bank as their economy is too tiny; it uses MAS as their central bank. All brunei banks in Brunei (I think) governed by same Singapore banking rules. If Brunei bank in Brunei needs Brunei dollar, ask MAS to print with Brunei sultan picture, pay for in USD at prevailing SGD/USD rate.
Brunei could have an agreement with US(or any country, Malaysia?) to use USD instead of SGD if they wanted to. All depends on agreement.
Brunei do have own Central Bank actually.
Anyway.. due to the local par value of BND:SGD agreement there's an advantage for businesses.
Internationally SGD has a slightly higher rate than BND. Especially for online international purchases, If there's a choice.. would prefer to pay in SGD since the local banks still par SGD to BND.. in this sense, Bruneians pay lesser to international sellers.
But lets say.. Paypal or any other platforms has an option to remit your money from USD into your local bank account, it's better to be remitted to you in BND, you'll get tad bit more than you expected if you chose SGD instead, and if you gonna withdraw the amount from the bank, you'll still get SGD from the ATM anyway.
@@rafiedaud3533Official notes from Brunei Central Bank:
"Brunei Darussalam's monetary system is based on the Currency Board Arrangement, which is underpinned by the Currency Interchangeability Agreement between Brunei Darussalam and Singapore.
The Currency Board Arrangement
Under pegged exchange rate systems, currency boards back up the total amount of currency issued in the economy with an equivalent amount held in reserves of the currency board. In Brunei Darussalam, the local currency is pegged to the Singapore dollar at par. Under the Currency Order, 2004, only BDCB is allowed to issue Brunei notes and coins. Additionally, the Currency Order, 2004, also requires us to back up every note and coin issued. This is to ensure confidence and stability in the Brunei dollars, and hence, eases trade and investment.""
My apology. I was using theory to understand how Brunei dollar and SGD could be at par. My understanding is that the Brunei dollar is just a formality in the forex market as its economy is tiny and almost non-existent - except for oil USD. So if there is a Brunei central bank, I can't see how it plays any banking role except to have an agreement with Singapore MAS. I don't understand the technicality of Brunei dollar 100% back by SGD reserves.
Does anyone know why don't Singapore and Brunei come out with a joint issued currency like the EURO? Then for sure no issues with legal tender of the notes
Singapore want to print the head of President Yusof. Drunei want to print their own Sultan. How to agree?
Yeah, your suggestion seems legit.
I mean if the usage can be widened to ASEAN, that will be better.
Liked Europe having its own currency-EURO, I do hope that ASEAN can produce such.
That will be easier for us in ASEAN
when i was a kid... thats about 30 years ago i use bruniean money all the time
MAS needs to inforce the fact that Brunei dollars are legal tender and rejecting them is a law offence.
Siao ah you
Brunei dollar is a customary tender, not legal tender.
The only legal tender Singapore is the Singapore dollar.
Wah overseas trip. Can apply leave and extend the trip?
Yes u can use ur Singapore dollars in brunei,as long as its not damaged.if it got a a little tear it will be half the value
Does it means 1 Brunei dollar is 3.5 of Malaysia ringgit?
Yes. Too bad for them
Oh yes, help Bruneian to cushion the current scary inflation.
The problem with accepting the brunei notes by the hawkers, they will have problem depositing it using the ATM, the ATM machine will reject the brunei notes. So hawker need to q up in bank to deposit it.
This happened to me also, not Singapore but in Korea. I have both SGD and BND, that time I want to do an experiment so I went to the bank and change my SGD and seem like every banks in Seoul have no issue to accept SGD. But when I tried the BND, many just instantly reject and only one bank in the entire Seoul accept BND which is interesting
I got better rate when changed sgd to myr compare to bnd to myr.
Will Cash deposit machine accept ?
Malaysia couldn’t use the SG notes because their economy was poor… right?
all hawkers , small businesses I met refused to accept Brunei Dollar notes. The only places accepting it are large shopping malls
Haha. I'm sure Malaysia regretted pulling out of the agreement.
Higher inflation currency, but with higher interest rates.
Too late to regret. M'sia Federal Govt lacks foresight. smh....
Imagine a QR pay system that allows the payment of either currency between the 2 country.
Somehow Myr pulled out and dropped in value by 3.5 times..
SG / Brunei express their appreciation for Malaysia's 'graciousness'
😀
Thank god malaysia pull out. Their currency so worthless now, only slightly winning rupia
I think the Malay lady in the video should not be so polite. She should just pay using the Brunei money. If the stall owners refuse to accpet, she should just say :" Uncle, don't tell me you don't know that Brunei can be used in S'pore. U doing business for how long already? U need me to make police report huh?"
0:10 😮
can I use Bukit Brown note in Singapore?
Actually the issue is cash deposit machine ah.
Dont accept brunei notes den how sia
Can understand why some stores dont accept
"Legal tender" has a specific meaning. Just because a currency is "legal tender" it doesn't mean a stall owner has to accept it. Likewise they can choose to accept payment by other means which are not legal tender if they want to (for example cryptocurrencies).
isnt it illegal not to accept the notes?
Once upon a time, the ringgit also had equal value.
Once the Oil Reserves runs out in Brunei, you will see its economy tumble so badly, it might fall even lower than Malaysia. :)
And why do you sound so happy?
@@Frenz_99 Some Men just want to Watch the World Burn. :)
Brunei make a good decision not to join Malaya, Sarawak and Sabah to form Malaysia...now look at Sabah.
Can you test if Grab drivers would accept Brunei dollar?
SGD to be used in BN? I will use the SG phrase "confirm plus chop" can do so... Just did it 1 mth ago 😅😂🤣
Ya some sgeans don't know about this.
Brunei Notes Can Be Used.
Please Do Not Throw Brunei Notes Give Them To Beggars.
Malaysia must have regret doing that.😂
Try internationally
McDonald can accept too
For you, yes!!! But the acceptor will have to either charge you higher for the exchange item or not give you their customary discount.
Anyway, the acceptor(s) can accept your BNs but will have to give your change in SD and coins and then the acceptor can subsequently convert their BN tally into SD with one of the many non bank DC merchant. Why non bank FXM, you may asked?
Simple non bank FXMs are known to offer favourable fx rare sans commission and fees. Again, you may asked this preference high rate sans comm/fees.
The answer is simple.
First non bank FXM DONT GIVE OUT detailed trans receipts, instead they dish out printer calculator printout.
Next, the exch rotation cycles are fast and multiples.
Finally any merchant in any busy and popular tourist loca will accept major world currencies. Except the current less favored rupee!!!! 😅😅😅😅😅
When I was younger the ringgit could be used right up to the mid-80s in Singapore until it slowly started to fall in value until 3.5 today.
Well malaysian used to be 1:1 along with brunei .
But MY left the agreement..
Can banks accept this?
Malaysia - can I join back the treaty now?😂
HAHAHAHAHA of course u can only if u pay 3.5 to 1!!!!!
Of course, it is technically possible, see Euro-zone.
@@M43782And that did not end well for some EU states during the GFC
It depends on which party is controlling the money supply as part of the agreement. If it's Malaysia, and they start printing the currency like crazy, it will pull Singapore and Brunei down with it. From what I understand, due to the agreement, the amount of BND Brunei can print is controlled by the MAS.
Suppose I am going to sell my old antique watch for 1 million dollar and someone is willing to buy it
but he only have $990 000 Brunei dollar with him,
I will definitely have no problem with it and will gladly accept the $990 000 Brunei dollar
Come to my shop in Geylang and I will be glad to accept your Brunei dollars.
Why malaysia pulled off ?
Have you tried it anyone will accept ringgit?
... hello..you have nothing better to do meh ??!!!???
Why cannot!!!! Singapore and Brunei signed a treaty but Malaysia withdraw from the treaty...
Try ringgit haha😂
Lol . Only dumb hawker will accept it hehe 😉
Can ringgit use in Singapore 😂😂😂😂😂
Let's say that u buy something that cost SGD10. U pay 40 or 50 M ringgit and tell the auntie to keep the change. Sayang, no problem!!!
Malaysia loss 😊
This is a known fact since eons ago. I know this since 90s.. racist say racist lah Auntie.. cos got Malay Sultan face on it
The Vending machine can’t accept any currency. 🥲