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Send money to Singapore

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

Singapore is one of the most highly traded currencies in the world, giving you plenty of options when you’re looking to send money from the US. However, the wide selection means you should take extra time comparing the differences between banks and money transfer companies. Get the most out of your money by knowing exactly how to find the lowest fees and best exchange rates out there.

Send money to Singapore with CurrencyTransfer

Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).

CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.

  • Get the best foreign exchange rates available from this online marketplace
  • Fast 1-2 day delivery to bank accounts
  • Price-match guarantee if you find a better price elsewhere
Promoted

Compare money transfer providers who service Singapore

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
OFX
24 hours
$0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours
$0

View details
Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
CurrencyTransfer
24 hours
$0
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

View details
Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE
Within minutes
$3

View details
XE has fast transfers with low fees and a range of foreign currency tools.
WorldRemit
Within an hour
From $1.99

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
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Compare up to 4 providers

Best ways to send money to Singapore

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Singapore. Some offer cash pickup in as little as a few minutes, while others transfer to bank accounts.

1. Digital money transfer services

Companies like Wise and XE specialize in foreign currencies, making them some of the most cost-effective ways to send money to Singapore. Most offer transfers directly to your recipient's bank account in Singapore, often in as little as a day or two.
  • Why? Digital money transfer services are cheaper because they exist online and don't have as many employees or physical locations.

2. Cash transfers

Services like WorldRemit and Western Union allow you to transfer cash for pickup at a local branch in Singapore— often in 15 minutes. While it's a fast way to send money, you'll pay for the convenience in weak exchange rates and high fees.
  • Why? Picking up cash is more expensive because more people are involved.

3. Banks

The Singapore dollar may be offered by your bank, but beware of high fees and wide margins on the exchange rate. Compare bank transfers to digital services and other options before sending a wire transfer to Singapore.
  • Why? Banks offer money transfers as a secondary service so don't strive to offer competitive prices.

Let's crunch the numbers: Sending $1,000 to Singapore

Let's say you need to send $1,000 to family in Singapore. Here's what you might face as far as fees and exchange rates using today's rate of 1 USD = 0.000 SGD.
Digital money transfer service Cash transfer Bank transfer
Fee $8 $4 $25 + additional correspondent bank fees
Exchange rate 1 USD = 0.000 SGD 1 USD = 0.000 SGD 1 USD = 0.000 SGD
Transfer speed 1-2 days Minutes 2-5 days
Amount received SGD$0 SGD$0 SGD$0
Verdict
  • Better than the bank
  • Fastest and best value
  • Slowest and most expensive

The bank option ends up being the slowest and gets the smallest amount of money to your recipient in Singapore. A cash transfer sends the most, which is SGD$0 more than the bank. For speed, a cash transfer can typically have your transfer to Singapore in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.

How to send money to Singapore online

Sign up and send money to Singapore with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Compare and pick a provider before signing up for a free online account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient's contact information and pick a delivery method. If transferring to a bank, you'll need their bank account details in Singapore.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to Singapore. Some money transfer providers send a text or email when your transfer is complete.

Get the most out of your money transfer to Singapore

Weigh costs and fees against convenience to best compare money transfer providers that send to Singapore. Consider:

  • Exchange rates. The USD–SGD relationship fluctuates, so using a service that allows you to lock in exchange prices may help you save money down the line if the Singapore dollar rises against the US dollar.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger USD–SGD exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Singapore dollars you're sending to Singapore.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Singapore.
  • Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you're sending is a valid strategy for saving money.
  • Transfer methods. Whether you want money sent to a bank account in Singapore or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

How to send money to Singapore without a bank account

If you don't have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up Singapore dollars without a bank account.

Emergency cash transfer

When urgency trumps cost to get your money to Singapore quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

Singapore's exchange rates explained

Banks and money transfer companies use exchange rate to calculate how much Singapore's currency is worth when converted to USD. The USD-SGD relationship can change daily based on global economic stability, interest rates, inflation and more.

Today's exchange rate USD to SGD

1
0
Updated: 03 Aug 2021 08:30:14 UTC

What to watch out for

Sending money to relatives or family members in Singapore may be subject to taxes on the money transfer and certain documents may be required.

Taxes on transfers to Singapore

In general, any large transfers being sent from the US to Singapore should be filed with the IRS to avoid any penalties.

Required information

Receiving money in Singapore:

  • Transfer confirmation details like a transfer number, an MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID like a passport or similar official ID may be required to pick up your transfer.
  • Sender's information. Take along your sender's full name, the sending country and their address, if known.

Sending to Singapore from the US:

  • Proof of identification like a government-issued ID or your SSN number.
  • Recipient information like their name, address and bank account information in Singapore.

Bottom line

Sending your hard-earned money to Singapore shouldn't cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country-specific guides the next time you need to make a transfer.

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