Transfer Money to Singapore

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About Money Transfers to Singapore

Want the fairest and cheapest Singapore dollar money transfer deal? Our live SGD rate comparison lists the most comprehensive range of options, tailored to your individual needs and developed to guarantee you the best deals when sending money abroad. Banks apply very large markups away from the real rate of exchange. The FCA regulated currency specialists we list do not. They can help you access Singapore Dollar rates 85% cheaper than the banks!

Whether you are emigrating and need to make regular overseas payments or making large business money transfers to Singapore, it only takes 60 seconds to compare SGD exchange rates. Join the revolution of thousands of people who are shopping around for a better currency deal with MyCurrencyTransfer.com. Rather than settle for the first bank rate or currency broker you stumble across, it pays to shop around.

Last updated: May 08, 2014 Our methodology

Quick Facts: Singapore

Key information for sending money to Singapore

Transfer Speed
2 working days
Local Currency
SGD
Income Tax Rate
3.5-20%
Avg. Property Price/m²
20,316.88 SGD
Avg. Monthly Rent (3 bed)
6,290.16 SGD
IBAN Required
No

Money Saving Tips for Singapore

Expert advice for your international transfer

Even if your employer does not provide health insurance, the cost of medical services in Singapore is reasonable for your peace of mind.

Singapore boasts of one of the lowest income tax rates in the world with no capital gains, wealth, estate duty and dividend tax to pay.

Some expats prefer to rent serviced apartments as they offer hotel-style facilities or because they intend to stay in Singapore for a short-term period and are looking for a flexible lease.

If you are on a tight budget, living in a government housing flat (called HDB flats) is a very reasonable option; more than 80% of the local Singaporeans live in HDB units.

What You Need to Send Money to Singapore

Checklist of recipient bank details required

Routing Number e.g.
Bank routing number
SWIFT/BIC Code e.g. BANKSGXX
Bank identifier for international transfers
Account Number
Recipient's bank account number
Account Holder's Name
Full name as it appears on the bank account

Popular Banks in Singapore

Bank of Singapore DBS Bank Far Eastern Bank Oversea-Chinese Banking Corporation United Overseas Bank The Islamic Bank of Asia

"When sending money to Singapore, always compare multiple providers. The exchange rate is important, but don't forget to factor in transfer fees and delivery times. For larger amounts, even small rate differences can translate to significant savings."

— MyCurrencyTransfer Editorial Team

Frequently Asked Questions

Common questions about sending money to Singapore

What is the cheapest way to send money to Singapore?

The cheapest way to send money to Singapore depends on your transfer amount. For larger transfers (over £1,000), specialist providers like Wise or OFX typically offer better rates than banks. Compare providers above to see which offers the best deal for your specific amount.

How long does it take to transfer money to Singapore?

Most transfers to Singapore are completed within 1-3 working days. Some providers offer same-day or next-day delivery for an additional fee. The exact time depends on the provider, payment method, and whether the recipient's bank processes weekend transfers.

What information do I need to send money to Singapore?

You'll typically need: the recipient's full name (as it appears on their bank account), their bank account number, the bank's SWIFT/BIC code, and for some countries an IBAN. You may also need the recipient's address and the bank's name and address.

Are money transfer services safe to use?

Yes, the providers we compare are regulated by the Financial Conduct Authority (FCA) or equivalent regulators. They must keep your money in segregated accounts and follow strict anti-money laundering procedures. Always check a provider's regulatory status before sending money.

Should I use my bank to send money to Singapore?

Banks are generally more expensive for international transfers due to higher exchange rate margins and fees. Specialist money transfer providers typically offer rates 2-4% better than banks. Use our comparison to see how much you could save.

How to Transfer Money to Singapore

  1. Compare providers

    Use the comparison table above to find the best exchange rate and lowest fees for your transfer amount.

  2. Create an account

    Click through to your chosen provider and register for a free account. You'll need your email address and basic personal details.

  3. Verify your identity

    Upload ID documents as required (passport, driving licence, or national ID). Most providers verify within 1-2 business days.

  4. Enter recipient details

    Add your recipient's bank account details including their name, account number, and SWIFT/BIC code.

  5. Fund and track your transfer

    Pay by bank transfer or debit card, then track your money until it arrives. Most transfers complete within 1-3 working days.