Compare international money transfers for your business

Lock in competitive exchange rates for your business and take advantage of low fees.

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Use the table below to sort through different money transfer services until you find one suitable for your business. Enter the amount you need to send and the destination to find the most suitable services for you. If you want to read more about a product, click ‘More’, or click ‘Go to Site’ to register for a service and get a free quote.

Compare business international money transfer services

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
SGD 2,000 1 - 2 days SGD 0.00 0.695 USD
6,945
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it. Go to site Show details
SGD 0 1 - 2 days SGD 0.00 0.694 USD
6,938
Go to site Show details
SGD 0 3 - 5 days SGD 30.00 0.674 USD
6,716
Get help sending business payments 24/7 to over 130 currencies with Western Union. Show details

Compare up to 4 providers

Businesses need to send money overseas for all manner of reasons, from paying international suppliers to buying stock or consolidating their financial strength in overseas markets. Luckily, there are more international money transfer options for businesses to choose from than ever before. This ensures that those who shop around for the best possible deal can find a fast and affordable method of moving funds across international borders.

See exchange rate updates in real-time

Refreshing in: 60s | Wed, 01 Apr 08:46am GMT
USD AUD CAD EUR CNY GBP INR MXN PHP
1 USD = 1.0000 1.6499 Inverse: 0.6061 1.4213 Inverse: 0.7036 0.9142 Inverse: 1.0939 7.0995 Inverse: 0.1409 0.8095 Inverse: 1.2353 76.0525 Inverse: 0.0131 24.1432 Inverse: 0.0414 50.9355 Inverse: 0.0196
1 AUD = 0.6061 Inverse: 1.6499 1.0000 0.8615 Inverse: 1.1608 0.5541 Inverse: 1.8048 4.3030 Inverse: 0.2324 0.4907 Inverse: 2.0381 46.0958 Inverse: 0.0217 14.6333 Inverse: 0.0683 30.8723 Inverse: 0.0324
1 EUR = 1.0939 Inverse: 0.9142 1.8048 Inverse: 0.5541 1.5548 Inverse: 0.6432 1.0000 7.7662 Inverse: 0.1288 0.8855 Inverse: 1.1293 83.1940 Inverse: 0.0120 26.4103 Inverse: 0.0379 55.7184 Inverse: 0.0179
1 GBP = 1.2353 Inverse: 0.8095 2.0381 Inverse: 0.4907 1.7558 Inverse: 0.5695 1.1293 Inverse: 0.8855 8.7700 Inverse: 0.1140 1.0000 93.9480 Inverse: 0.0106 29.8242 Inverse: 0.0335 62.9209 Inverse: 0.0159

Why should I use an international money transfer provider instead of the bank?

When you’re a small business owner, time is a precious commodity, which often means that many business owners simply opt to perform money transfers through their regular bank. Unfortunately, this is one the least efficient and most costly ways to send money abroad.

Banks offer poor exchange rates, a lack of useful features, and impose high fees. Also, they might not offer the currency or destinations you need. One of the first things you’ll notice when comparing dedicated money transfer services to banks is that money transfer providers typically offer better exchange rates to their customers than banks do. Even a difference of a couple of cents in your favour can add up to a big saving when you transfer several thousands of dollars.

Money transfer companies also offer lower fees than banks, offering an alternative to keep more money in your pocket. Fees can add up quickly, especially when you’re setting up regular scheduled business transfers, so it pays to compare the hidden charges included among competing providers.

In addition, many money transfer companies offer to waive their transfer fee when you send more than a certain amount, so keep an eye out for this feature as well. Money transfer companies can also typically transfer your funds quicker than banks, which is an important feature in the business world. Some companies offer transfers within 24 hours or even minutes, while banks can take up to five days to wire your money. Let’s look at an example below.

Should I use a specialist money transfer service or my bank?

Kevin is a small business owner who wants to send a one-off payment of SGD $5,000 overseas to an important supplier in the United States. Although he’s tempted to use his regular bank to perform the transaction, he decides to make a comparison of the incurred cost for his transaction between his bank and a money transfer provider.

BankMoney transfer service
Exchange rate0.735580.74892
Fee$25$19.43
Amount transferredUSD $3,659.51USD $3,730.05
Amount saved using a money transfer service+USD $70.54

As you can see, even though the transfer fee with the money transfer service is on par with what is charged by the bank, the exchange rates are more competitive. Therefore, with a money transfer service, Kevin can send an additional US$70.54 to his recipient by using a dedicated money transfer provider.

*Rates quoted are correct as of 8 June 2018. You should always source a quote for current rates and fees.

Which providers will allow me to send money overseas as a business?

It’s possible for businesses to send money overseas through many Singapore banks, such as DBS, POSB, OCBC and UOB. However, business owners can also conduct international money transfers through specialist companies such as OFX, TorFX, TransferWise, Worldfirst and more. In many cases, you can save money by using the services of a money transfer provider instead of a regular bank.

These companies usually offer better exchange rates and lower fees than banks, while they also often offer a much faster processing time for transfers. In short, while bank focuses on a wide range of financial products and services, international money transfer providers specialise in sending funds overseas.

Compare these features when comparing business transfer services

It’s important to consider the following factors when choosing a money transfer provider to conduct your business transfers:

Competitive exchange rates

The higher the exchange rate, the more money will end up in your recipient’s bank account. It’s quick and easy to compare exchange rates online, and money transfer companies typically offer better rates than banks. Some companies will also offer better rates to business customers than personal customers, so compare this feature as well. However, remember to consider a company’s rates in conjunction with its fees.

Little or no fees

Read the fine print to uncover any fees which will be attached to your transaction, as well as additional savings by lodging your transfer online instead of in a branch. Many online transfer providers will waive their transfer fee when you send more than a certain amount, so look into this feature as well.

Ability to schedule payments

Does your provider allow you to set up regular scheduled payments? This is convenient for business owners and can help you organise your budget more effectively.

Forward contracts

A forward contract lets you lock in an exchange rate now, for an international money transfer that will take place at a later date. Consider which providers offer this, how far in advance contracts can be set up, and whether or not extra fees are attached.

Customer service and contact methods or availability

Consider which provider has the best reputation for customer service. Is assistance available online, over the phone and via live chat? Between what hours can you contact customer support? This aspect is an important consideration, in case you ever encounter issues with your transfers that need to be resolved urgently.

Supported currencies

Different money transfer providers will offer to transfer funds to a range of different supported currencies. Most providers will let you send funds in a number of commonly traded currencies, for example the United States Dollar or the Great British Pound, but depending on your business you may need to trade more exotic currencies.

Limit orders

Limit orders let you take advantage of fluctuating market exchange rates, so check which providers offer this feature. Also, remember to establish whether any fees are attached to this service. A limit order allows you to specify a target exchange rate for your international money transfer, and your money transfer provider will then monitor the market and perform your transfer when such a rate arises. This allows small business owners to take advantage of fluctuating exchange rates when sending money overseas.

Another way your business can save money: using limit orders

Kevin wants to send SGD $15,000 to the United States and is offered an exchange rate of USD $0.72. He believes he will be able to find a better deal. He lodges a limit order with his money transfer company not to transfer the funds until an exchange rate of USD $0.75 is available, and when the market hits this rate four days later his funds are sent. This allows Kevin to save a further USD $450.

Normal transactionLimit order
Exchange rate0.720.75
FeeUSD $0USD $0
Amount transferredUSD $10,800USD $11,250
Amount saved using a limit order+ USD$450

*This is a fictional case study. Always source a quote for current rates and fees.

Real questions from finder users about international business transfers

Are the application requirements different for businesses than individuals?

If you wish to send money internationally on behalf of your business, you will need to register your business details for the account. This includes the business name and registered address, the UEN, details of the company directors, owners and/or shareholders and a description of what the business does. You will also need to register a bank account that is in the same name as the business.

Are international money transfers safe?

Yes, international money transfers are safe. Money transfer providers in Singapore are regulated in the same way as traditional banks, by the Monetary Authority of Singapore (MAS). They operate under a financial license, which you should be able to check via the providers’ website.

Is it cheaper to send funds overseas through my bank or a money transfer provider?

It is almost always cheaper to send funds through a money transfer provider due to better exchange rates and lower fees.

Can I track the progress of my transfer?

Yes, your provider or bank will give you a tracking number so you can monitor the progress of your transaction.

What currencies can I transfer funds in?

This varies between providers. Certain currencies are staples on the international currency market, such as the United States Dollar or the Euro, while other currencies are rarer. Contact your provider for a full list of the available currencies.

Got it – what do I do now?

Now that you understand how business international money transfers work, use the table above to compare providers. When you have chosen a couple that you believe will best meet your transfer needs, click the green ‘Go to Site’ button to source quotes with current rates and fees specific to your transfer.


If you need to conduct an international business transfer, it really does make good financial sense to shop around and compare your transfer options. This will ensure you save money and that your transfers are processed fast, and you can start the comparison process at finder.com/sg.

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