Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
How to send money to Kyrgyzstan
Find the lowest fees and best exchange rates when sending money to Kyrgyzstan
When you need to send money to Kyrgyzstan, you don’t want to be stuck paying exorbitant bank fees, or worse–not being able to send money at all. Because the som is considered an exotic currency, many forex providers don’t deal in them. This means you’ll have to spend more time comparing your options. Our guide below will help you explore the ways you can save money on your money transfers.
Compare international money transfers to Kyrgyzstan
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Kyrgyzstan with our money transfer partners.
Banks versus money transfer companies
Before you consider using your bank for an international money transfer, compare the rates and fees. Banks often offer poor exchange rates and charge high fees for overseas transfers, so even a small transfer can end up costing more than it should.
Consider online money transfer companies like Ria or MoneyGram. They usually offer fast and affordable transfers to countries worldwide.
How to compare transfer companies when transferring money to Kyrgyzstan
By comparing a few elements of your transfer, you can ensure that you get the cheapest deal for your needs.
- Exchange rates. Nearly all providers skew exchange rates for a profit. Search and make sure the rate you’re being offered reflects the going market rate offered by other services and banks.
- Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
- Payment and delivery options. Some transfer companies allow you to pay with a credit card online, by phone or through an app. Others offer agent locations for cash payments and pickups. Also ask how your recipient can receive their funds: bank account, cash pickup, mobile wallet or any other program they might use.
- Transfer speeds. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you have more time, you’ll get better rates and fees with an independent provider.
- Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate, especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
- Flexible transfer options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
How to send money to Kyrgyzstan
Whether you send money through your bank, a money transfer provider or any other option, you’ll need to first register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method.
Keep a record of any transaction reference number you receive so that you can review the progress of your transfer.Back to top
Foreign exchange rates explainedThe exchange rate is how banks and companies calculate how much one currency is worth when compared to the currency of another. The Singapore dollar (SGD) has traditionally been stronger than the Kyrgyz som (KGS). This means that your dollar will be worth multiple soms. When sending money to someone in Kyrgyzstan, track the fluctuations in exchange rate to be sure you’re getting the best deal available.
What are the ways that I can send money to Kyrgyzstan
- Bank transfers. Many major Singapore banks will allow you to send money to Kyrgyzstan.
- Money transfer providers. Providers like Ria and XE can help you quickly and easily transfer your money online.
- Providers with cash pickup. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
- PayPal. Electronic payment giant PayPal allows you to send money from Singapore to Kyrgyzstan.
- Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or postal service.
Are money transfers safe?
Yes. When you use a reputable provider, your funds are tracked until your recipient receives them. There are protections in place that require banks, credit unions and money transfer companies to disclose all fees upfront and give you 30 minutes to cancel a transfer before it is picked up by your recipient or deposited into their bank account.Back to top
Emergency cash transfers in the Kyrgyz Republic
If you find yourself in an emergency situation where you need to send an urgent cash transfer to Kyrgyzstan— maybe your son or daughter is traveling through the country and has been mugged — there are several companies that offer this service. Be be aware that often the quickest method is the most expensive. Be sure to check the exchange rate and fee that apply to your transaction before handing over your cash.
Emergency situations come up all the time, and a friend or family member might need a quick transfer made to solve a potential problem before it grows. There are exchange services that offer same-day transfers. However, these companies will take advantage of your need for urgency by charging you higher fees and offering you a less optimal exchange rate. While you can perform an emergency transfer to Kyrgyzstan, this should be used as a last resort. If your recipient can wait a few days, you’ll save money and they will receive more soms.
Tips for picking up cash in the Kyrgyzstan
Take a few simple safety precautions to prevent yourself becoming a target for thieves.
- Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
- Bring a friend. Carrying a large amount of money alone can be dangerous. Ask a friend to come along.
- Deposit your money immediately. The likelihood of losing your money grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
- Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.
You have multiple options to choose from when sending money to Kyrgyzstan from Singapore. To get the best value for money for your international money transfer, compare the benefits and features of competing services before selecting a provider.
More guides on Finder
UOB Stash Account Review
Benefit from higher interest rates as you maintain or grow your monthly balance with UOB Stash Account.
Instarem Amaze review
Benefit from 1% cashback, low-cost FX payments and seamless expense management with the Instarem Amaze card.
OnlyFans IPO: How to buy OnlyFans shares from Singapore
What you need to know about investing in OnlyFans from Singapore.
How to buy Cardano (ADA) in Singapore
Cardano (ADA) is an entirely new cryptocurrency network built from scratch. See what makes it unique, and where you can buy it.
YouTrip vs Revolut vs Wise in Singapore
Learn more about YouTrip, Revolut and Wise before deciding which one of these multicurrency wallets is most suitable for you.
DBS Multi-Currency Account vs YouTrip in Singapore
DBS Multi-Currency Accounts and YouTrip are two of the top options in the local multi-currency space. Compare their features, fees and more to see which is best for you.
Alternatives to N26: A list of similar banks and apps
We’ve compared the top challenger banks to help you figure out what’s the best alternative since N26 is not available in Singapore.
Kraken vs Coinbase
We compare the key differences between two of the most popular cryptocurrency exchanges in terms of fees, features, customer support and more.
iRemit international money transfers review
Make simple and small transfers to the Philippines through the IREMITX app.
YouTrip vs Revolut in Singapore
YouTrip and Revolut are two popular digital banks in Singapore. We compare everything you need to know about them to pick the right one.