Send Money to Singapore the Easy Way

Information verified correct on February 20th, 2017

Here’s how to send a quick, affordable and secure money transfer to Singapore.

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Singapore doesn’t have to be expensive. Compare the transfer fees and exchange rates of the options available to you to get the most Singapore dollars for your U.S. dollar.

From online transfers to bank account deposits and cash pickup locations in Singapore, there’s no shortage of options to choose from when you need to send money overseas. Here’s how you can find a cost-effective way to transfer funds to Singapore.

Compare International Money Transfers

Rates last updated February 20th, 2017

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.

With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:

  • Buying property abroad
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  • Regular overseas payments
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Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Wyre International Money Transfers
No transfer fees for finder... No transfer fees for finder.com readers. Make transfers with Bitcoin.
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.
USD 500 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
WorldRemit International Money Transfers
Fast... Fast, low-cost transfers to 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
TransferWise International Money Transfers
Enjoy high maximum transfers into ... Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Send safe... Send safe, no-limit transfers with no fees and competitive exchange rates.
USD 150 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
Payoneer International Money Transfers
Ideal for worldwide business payments ... Ideal for worldwide business payments to more than 200 countries and 150 currencies.
USD 20
Online
Rates are always
changing, click to check
your price today
Go to site More
RIA Money Transfer
No fees for bank account ... No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries.
3 - 5 days
Online
Rates are always
changing, click to check
your price today
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HiFX International Money Transfers
Transfer money into 20 currencies ... Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.
USD 100 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
Moneycorp Exchange Experts
Full-service specialist offering competitive exchange ... Full-service specialist offering competitive exchange rates on personal or business international money transfers.
USD 50
Online
Rates are always
changing, click to check
your price today
Go to site More
TorFX International Money Transfers
No hidden fees and a ... No hidden fees and a best rate guarantee for 60 global currencies.
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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Wells Fargo Bank
While more expensive than other ... While more expensive than other options, securely send money to 13 Latin American and Asian countries.
USD 1 1 day
Online
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changing, click to check
your price today
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How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Singapore. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.

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Banks versus money transfer companies

Any major U.S. bank will be able to send an international money transfer to Singapore for you, but the problem is that they’ll charge like wounded bulls for doing so. Banks also offer poor exchange rates that don’t offer great value for money, so you will be much better off if you look elsewhere.

Finder.com can help you find a reliable money transfer company that will send your money overseas in a much more cost-effective manner. These companies offer superior exchange rates to banks and usually charge lower fees as well, which all helps to make for a much more affordable and convenient transaction.

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Case Study: Anna Sends Money to Singapore

Anna lives and works in the United States but provides financial support for her grandparents in Singapore. She wants to send them a transfer of  $1,000 but is not too keen on paying the $40 transfer fee imposed by her bank. Instead, she decides to compare two trusted money transfer companies to see which one can offer her a more attractive deal.

Money transfer company 1Money transfer company 2
Exchange rate1 USD = 1.41 SGD1 USD = 1.39 SGD
Transfer fee$4$16
Transfer methodBank account depositCash pickup
Processing time1-3 business days10 minutes
Amount received (in SGD)1,410 SGD1,390 SGD

As you can see, while the first transfer option is much slower, it allows Anna to save $12 in fees and transfer an extra $20 SGD.

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How to compare transfer companies when transferring money to Singapore

  • Exchange rates. Look for a company that consistently offers exchange rates at the same level as or above the competition.
  • Fees. Fees can vary substantially and have a huge impact on the cost of your transaction, while some companies will waive their fee when you transfer more than a set amount.
  • Transfer methods. Transfers are usually made online or by visiting a branch, but some providers will also offer phone transfers or the option to make a transfer from a mobile app.
  • Transfer options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allows you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule recurring payments?
  • Turnaround time. Processing times range from a few minutes to a few days or more, so make sure to check how long each company takes to process transfers.
  • Minimum transfer amount. If the company sets a minimum transfer limit, check to see whether this is likely to be higher than your transfer amount.
  • Pickup methods. Can the funds be picked up from a transfer agent, or will they be deposited into your recipient’s bank account?
  • Customer service. Are phone and email support offered? During what hours? Is live online chat also offered when you need help?
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Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
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Options for sending money to Singapore from America

  • Bank transfers. Your U.S. bank will be able to send your funds to a Singapore bank account.
  • Online money transfer providers. Consider an online transfer company like WorldRemit to take care of your transaction.
  • Checks. Another option is to obtain an international guaranteed check from your bank.
  • Money transfer companies with cash pickup options. Western Union and Moneygram are the two best-known companies that offer this service.
  • PayPal. You can use PayPal for more than just online shopping; it also allows you to send online money transfers to Singapore and more than 100 other countries.
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Emergency cash transfers to Singapore

If you ever need to send an urgent cash transfer to Singapore, make sure to double-check the fee and exchange rate that apply to your transaction. Money transfer companies will charge higher fees and often provide a lower rate of exchange when you need to send your money as soon as possible, so reading the fine print closely is the best way to ensure you know exactly what you’re getting yourself into.

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Find a money transfer location near you

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How to send money to Singapore

In order to send a money transfer to Singapore, you will need to provide a range of information, including:

  • Your name, address, contact details and proof of ID.
  • Your recipient’s name, address, contact information and (if required) their bank account details.
  • The details of your transaction, such as the amount you are sending and the currency that you are transferring.

Transfers can be placed online, over the phone, in a branch or from your tablet or smartphone, and you will usually be given a tracking number to monitor the status of your transaction.

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Tips for picking up cash in Singapore

Although Singapore is a stable and safe travel destination, keep the following safety tips in mind when picking up cash from a transfer agent:

  • Avoid any high-crime areas and only pick up cash in an area you know is safe.
  • Ask a friend to tag along to provide extra security.
  • Don’t display your cash in front of strangers.
  • Be aware of your personal security at all times.
  • Don’t carry a large sum of cash around for long periods.
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US International Money Transfers Offers

Learn about our information service
HiFX International Money Transfers

Transfer money into 20 currencies and schedule regular payments. $5 fee waived for transfers over $5,000.

WorldRemit International Money Transfers

Fast, low-cost transfers to 110 countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
No-limit transfers with competitive exchange rates for more than 100 currencies.

TransferWise International Money Transfers

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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