Send Money to Singapore from USA, Better Remit FX Rates (2024)

FAQs

What is the cheapest way to transfer money from US to Singapore? ›

Bank transfers are usually the cheapest option when it comes to funding your international money transfer with Wise. Bank transfers can be slower than debit or credit cards, but they usually give you the best value for your money.

Wise* is the first provider we'd try as it's always had consistently top rates when we've checked, plus good feedback from those who use it. It does charge fees, but we've found the total amount of currency you get for your money is still competitive.

Recipient will generally receive funds within 2 to 4 working days. Additional agent bank charges may apply. Transfer limit: Up to available account balance.

OFX. OFX does not charge any fees, and the exchange rate is less than 1%, but all transfers must occur within bank accounts, and it typically takes two to four days for your recipient to get the money. The company can transfer money to over 170 countries or 50-plus currencies.

Funding your money transfer with a bank transfer is usually the cheapest way to send money abroad.

In conclusion, getting the best exchange rate on international money transfers requires some research and planning. By comparing rates, looking for low fees, choosing the right time to transfer, using a forward contract, and using a specialist provider, you can save money and get a better deal.

What is the cheapest way to send money internationally? The cheapest way to send money internationally is to transfer funds directly from your bank account to a recipient's bank account. Most transfer services charge additional fees for debit card or credit card payments and cash pickups.

How do I transfer money to a Singapore account? ›

Banks offer wire transfer services to transfer money to Singapore and other overseas countries. Telegraphic or Wire transfer is the easiest and safest way to transfer foreign currency abroad.

Make Cross-Border Payments

Digital wallets are independent of banks and can hold funds in multiple currencies, with transparent exchange rates. Because of this, they can circumvent many of the fees and costs associated with wire transfers, making it even easier to send money abroad, all over the world.

You can send money without a fee by using P2P payment apps such as Cash App, Google Pay, PayPal, Venmo and Zelle. Note that you may have to pay a fee if you fund your transfer with a credit card, and the recipient may have to pay a fee if they choose to receive the money instantly in their bank account or debit card.

One of the main disadvantages of using SWIFT is that it is typically more expensive than other methods for transferring funds, ranging from $15 to $75 per transaction. Banks may charge a fee for initiating a SWIFT transfer, and there may also be additional fees for receiving the funds.

The processing fee for a local funds transfer in SGD via MEPS is SGD 20. Sending a TT costs SGD 20 (online) or SGD 30 (via bank branch) in processing fees along with a commission of at least SGD 20.

The cheapest way to ship from the US to Singapore is often through USPS First Class Package International Service for smaller, lightweight packages. This service provides a cost-effective solution with reasonable delivery times, making it ideal for budget-conscious shippers.