Overseas trip planned but haven't got the time to change foreign currency before you fly off?

Those living in Kovan, you are in luck.

One company has installed a new ATM that dispenses foreign currency.

10 different currencies

The foreign currency ATM can buy and sell 10 different currencies for now.

Best of all, it's operational 24 hours.

You can get US dollars, British pounds, Euros, Malaysian ringgit, Japanese yen and Chinese yuan, among others.

Payment is made by cash, PayNow or NETS.

Promises competitive rates

The company behind the ATM, FX Buddy, promises "competitive rates".

The press release said the idea for the machine was cooked up by two "buddies" who refined the foreign currency dispenser idea over a period of two years.

They aimed to achieve cost savings in the money changing industry through the use of automation.

Their first machine, which looks inconspicuous and nothing that suggests it is filled with money, is situated at 205 Hougang Street 21, right outside Heartland Mall.

But who knows, there might be more in the future.

Every industry is susceptible to changes from automation, and it looks like money changing is no different.

Top image from FX Buddy's Facebook page.