Send Money to Singapore Cheaply

Singapore

Send more money to friends or family in Singapore for less.

Do you need to send money to Singapore, but feel overwhelmed by the plethora of options available to accomplish this ordinary feat? Don’t worry – you’re not alone – we’ve got you covered. Compare your options with this handy guide, and if you still have questions, feel free to leave us a comment at the bottom of the page.

International money transfer services which allow you to send money to Singapore

Take a gander at the table below to compare transfer services. Bonus tip: you can use the table headings to sort service providers by categories of difference, like transfer amount, method and speed.

Rates last updated June 24th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
USD 150
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.

Send money overseas in 45 currencies.
Exclusive: OFX (Ozforex) International Money Transfers
USD 150
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
WorldRemit International Money Transfers
CAD 0.51
Within an hour
Online, Bank Account to Bank Account, Cash Transfer
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
Exclusive: World First International Money Transfers
CAD 250
1 day
Online, Phone
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
TransferWise International Money Transfers
CAD 2.50
1 - 2 days
Online
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

Banks vs money transfer companies or services

While it makes sense for you, as a consumer, to trust that your bank is doing business with your best interest in mind, when it comes international transfers, it can be well-worth your time and energy to compare your options. Banks have a tendency to bite off a little more than you’d probably like them to chew. What do we mean by this? To put it lightly, they have a bad reputation for driving exchange rates and transfer fees through the roof in order to turn a profit. For this reason, many savvy consumers opt to send money through online transfer services specialized in offering safe and affordable transfers overseas. Because these companies send money back and forth between countries every day, they can offer more competitive rates with lower fees than the bank.

Case Study: Tim compares transfer services to send money to Singapore

Tim is organizing a long-overdue vacation through parts of South East Asia with his sister, Chelsey, who is currently living in Singapore. Tim plans to meet Chelsey in Thailand in early June, but she calls their trip off one month before his imminent arrival because she can’t afford it. Since Tim hasn’t seen his sister in a couple of years, he decides to send her $1,000 to help her buy her plane ticket. While Tim’s bank offers to help him complete the transfer, he is less than impressed with their rates, and decides to compare them against a well-known international money transfer service.

Canadian BankMoney Transfer Service
Exchange rateCAD$1 = SGD$1.01$1CAD = SGD$1.04
Transfer fee$22$15
Amount received for $1,000
SGD$1,010SGD$1,040
Transfer time

2 – 5 business days.

2 – 5 business days.
Transfer optionsBank transferCash pickup
Difference (excluding fees)+ SGD$30

Tim realizes that he can save approximately SGD$30 (around $29) in the exchange rate with the money transfer option, with an additional $7 in fees.

How to compare transfer companies when transferring money to Singapore

While Tim still has a lot to learn about money transfers, he did have a couple of epiphanies on what features and rates to look for when comparing services.

  • Competitive exchange rates. More competitive exchange rates can make a big difference to your bottom line.
  • Minimal fees. Lower fees are a no-brainer if you’re looking to put more money in your pocket.
  • Various transfer methods. Money transfer services offer plenty of options, including mobile wallet top-ups and cash pick-ups, in addition to bank-to-bank transfers.
  • Fast transfer times. Money transfer services can get money to your recipient in a matter of minutes, while banks typically take between 1 – 3 days.
  • Reliable customer service. Some services have a better reputation than others, so it’s best to do your homework if you want someone to help you on the other end if you happen to run into a snag with pick-up.
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Compare Money Transfer Services

Money Transfer ServiceTransfer Fee (CAD)Exchange Rate MarkupTotal in SGD minus fees (from $1000.00)
TransferWise$10$1.04391,033
Canadian Forex$15$1.04381,029
XE Money Transfer$0$1.04361,044
Currency Solutions$0$1.04381,044
WorldFirst$10$1.04401,034

Rates updated as of 25 February 2018

Emergency cash transfers to Singapore

So you need to send money to Singapore as soon as possible? ASAP man! Well. The best thing to do is search for a cash pick-up service like Western Union or MoneyGram. While these services are often more expensive than the bank, with higher transaction fees and exchange rates, they typically take only a matter of minutes to process, and can be a real lifesaver in the event of an emergency. Once your money is on its merry way, your recipient will just need to present at the appropriate location with some form of identification and the details of the transaction.

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Cash pickup locations in Singapore

Both Canada and Singapore don’t fall short when it comes to Western Union and Moneygram locations, which offer rabbit-fast cash transfers between countries.

Western Union

Moneygram

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Picking up cash in Singapore

If you’re aiming to visit this financial and technological hub in the near future, the Government of Canada recommends that you exercise a normal degree of caution (as of 25 February 2018). Petty crime, such as pickpocketing and purse snatching are fairly rare, but do occur in airports and hotels as well as on public transportation and in areas frequented by tourists. Keep an eye on your valuables when traveling through crowds and use common sense when carrying large amounts of cash through busy streets.

Background for Singapore

An island city-state off southern Malaysia, Singapore is a global financial hub with a tropical climate and multicultural population. As a major Asian gateway, Singapore is well-placed for Canadian companies intending to do business with Southeast Asia, China and India. Being Canada’s third largest export market in the Association of Southeast Asian Nations (ASEAN), Singapore is also an important regional trade partner for Canada. There is a small community of Singaporeans living in Canada, consisting largely of expatriate professionals and students, and around 5,000 Canadians living in Singapore.

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