5 Best International Money Transfer Apps Reviewed

International money transfer apps allow you to send payments to friends, family and businesses all around the world, right from your phone or smart device. Money transfer apps are typically offered by specialists in digital transfers and multi-currency accounts - which means there’s a smooth in-app onboarding so you can get an account, get verified, and get your money moving, all without even leaving the house.

There are plenty of international money transfer apps available to customers in Singapore. However, each has different features, fees, exchange rates and delivery times - comparing a few is the best way to find the right one for you. Read on to learn more about the 5 best international money transfer apps for Singapore customers.

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5 Best Online Money Transfer Apps in 2022

Here’s a quick summary of the best online money transfer apps 2022 for Singapore - and what we love about them:

  • Remitly: great for low cost payments to friends and family, on popular remittance routes

  • MoneyGram: serves almost the entire globe, with bank transfers and cash collection payments - bank transfers usually arrive fairly quickly

  • Western Union: send personal payments almost anywhere in the world, to bank accounts or for cash collection

  • Revolut: hold and exchange 30+ currencies with the mid-market rate, and send low cost personal or business payments around the world
  • Wise: multi-currency accounts for personal and business customers, to hold 50+ currencies, send payments to 80+ countries, with the mid-market exchange rate

To come up with our ranking, we’ve looked at customer review and rating data, from both the Apple App store and the Google Play store, starting with the most popular according to existing customers. You’ll notice that most providers have far more reviews posted on Google Play, so we’ll rank according to overall Google Play ratings here. 

There’s a more detailed look at each of our providers coming up next - first, an overview:

International Money Transfer AppsApp StorePlay Store
RatingsNumber of ReviewsRatingsNumber of Reviews
Wise4.6/525,000+4.2/5216,000+
Remitly4.9/5845,000+4.8/55 million+
MoneyGram4.9/5335,000+4.6/51 million+
Western Union4.8/5532,000+4.5/5248,000+
Revolut4.7/530,000+4.4/51.97 million+

\ Rating and review data was taken on 16th September 2022 from App store and Play Store *

Provider 1 - Wise

  • Fees and exchange rates: mid-market exchange rate, and low transparent fees from 0.41%

  • Safety: regulated by MAS in Singapore, and overseen by many global regulatory bodies around the world

  • Speed: 50%+ of transfers are instant, 90% arrive in 24 hours

  • Customer reviews: 4.2/5 rating on Play Store, from 216,000+ reviews; 4.6/5 rating on the App Store from 25,000+ reviews

Wise offers one off and recurring international money transfers, and multi-currency accounts for personal and business customers. Create an account and get verified through the Wise app to start, and you’ll be able to send payments to 80+ countries with the mid-market exchange rate and low, transparent transfer fees.

If you’d like a full Wise multi-currency account you can open one online or in the app, to hold 50+ currencies, and receive payments for free from 30+ countries

There’s a linked debit card for easy spending and withdrawals, too. There’s no monthly fee or minimum balance to pay, so you can just use your account as and when you need it for travel, shopping with international ecommerce retailers, or sending international payments.

Wise international payments are typically quick, with more than half arriving instantly. You’ll see a delivery estimate in the app when you set up your payment, and can track the transfer in the app easily once it’s on its way. There are limits on the amount you can send per currency, but these are generally high - at around 1 million GBP or the currency equivalent.

Wise pros and cons

Pros:

  • Mid-market exchange rates and transparent service fees

  • Send payments or open a multi-currency account in the Wise app

  • Transfers are fast - over 50% arrive instantly

Cons:

  • Services, fees and delivery times vary based on destination

  • No cash pay out options available, transfers to bank accounts only

  • There’s a one time fee to open a business account or get a debit card


App StorePlay Store
Rating4.64.2
Number of reviews25,000+216,000+
Availability15 languages15 languages
User experienceWell rated user interfaceWell rated user interface
Go to Wise

Provider 2 - Remitly

  • Fees and exchange rates: fees vary by destination country and service - exchange rates may include a markup

  • Safety: registered and regulated in Singapore

  • Speed: delivery times vary - express payments may be instant, while economy transfers can take a few days

  • Customer reviews: 4.8/5 rating on Play Store, from over 5 million reviews; 4.9/5 rating on the App Store from 845,000+ reviews

Remitly payments can be made from 21 countries, to around 100 countries on popular remittance routes. Depending on the country you’re sending to you may be able to choose from bank deposits, cash collection, mobile money transfers or home delivery. Fees vary, but you can often select a faster Express service, or a cheaper Economy service depending on your preferences.

Remitly transfers are intended for personal use only. Limits apply based on your account tier, including maximum limits per day, 30 days and 180 days. With a Tier 1 account, requiring just your basic information you can send up to 5,000 SGD per day, or 30,000 SGD per month. Upgrade to the Tier 3 account by uploading your verification documents and providing more details about your payments, to send up to 45,000 SGD per day, or 180,000 SGD every 180 days.

Remitly offers simple international transfers from large global economies, on common remittance routes. It’s extremely popular with its users, and can be a great way to get money quickly - and with a low fee - to someone on the other side of the world, even if they don’t have access to a bank account. However, as you can’t make business transfers, and Remitly payments can not be made from one send country to another, it’s not the perfect match for everyone.

Remitly pros and cons

Pros:

  • Easy online and in-app payments - super popular with customers

  • Choose from different fee options depending on whether speed or cost is more important

  • Send money for bank deposit, cash collection, to a mobile money account or for home delivery

Cons:

  • Exchange rates may include a markup, and fees do vary by service and destination country

  • Not all services are available in all countries served

  • Payments can not be made between send countries


App StorePlay Store
Rating4.94.8
Number of reviews845,000+5 million+
Availability16 languages16 languages
User experienceMost customers report an easy user experienceMost customers report an easy user experience
Go to Remitly

Provider 3 - MoneyGram

  • Fees and exchange rates: fees vary by destination country and service - exchange rates may include a markup

  • Safety: Fully regulated by MAS in Singapore

  • Speed: depends on the destination country, usually from one hour to one business day

  • Customer reviews: 4.6/5 rating on Play Store, from 1 million+ reviews; 4.9/5 rating on the App Store from 335,000+ reviews

MoneyGram offers payments to almost every country in the world, with variable fees and exchange rates. You can arrange your payment easily in the MoneyGram app, with a choice of delivery options depending on where you’re sending to. It’s usually possible to send payments to a bank account or for cash collection at a MoneyGram agent near to your recipient.

Payments direct to bank accounts can be fairly quick, depending on your destination country. Popular currency routes can mean transfers arrive in just an hour, with other destinations taking about one working day to land.

MoneyGram payments do have limits, which can vary based on the destination and market conditions. Usually you’ll be able to send up to 13,500 SGD per payment or 13,500 SGD aggregated per month across multiple payments, within the MoneyGram app. If you need to send more you may be able to through a MoneyGram agent - but the fees and exchange rates you get may be less favourable than those you’d get from sending in the app.

MoneyGram pros and cons

Pros:

  • Send almost anywhere in the world

  • Good range of payout options

  • Easy to use app - with in person support if you need it

Cons:

  • Exchange rates will include a markup

  • Fees and services vary by destination country

  • Pay with card only within the app


App StorePlay Store
Rating4.94.6
Number of reviews335,000+1 million
AvailabilityEnglish and SpanishEnglish and Spanish
User experienceEasy to use interfaceEasy to use interface

Provider 4 - Western Union

  • Fees and exchange rates: fees vary by destination country and service - exchange rates may include a markup

  • Safety: authorised and regulated in Singapore and around the world

  • Speed: cash collection payments can be available in minutes, bank deposits take up to 2 days

  • Customer reviews: 4.5/5 rating on Play Store, from over 248,000 reviews; 4.8/5 rating on the App Store from 532,000+ reviews

Western Union is one of the world’s biggest money transfer companies, with services in person, online and through their app. You can make payments for cash collection, to bank accounts or to mobile wallets - and you can pay in the app by card or through a bank transfer to Western Union.

Western Union fees vary based on the service you want and the destination country. You’ll be able to see a quote and all your payment and delivery options in the app before you confirm. It’s good to know that the exchange rates can also vary based on the payment type, and will include an exchange rate markup.

Once you’ve verified your account by uploading a few documents, you’ll be able to send up to 5,000 SGD up to 50,000 SGDper day. Western Union advises you only make payments to people you know and trust - never send to anyone you don’t know, as transfers can not usually be reversed once they’re initiated.

Western Union pros and cons

Pros:

  • Send to almost any country in the world

  • Cash collection payments are almost instant

  • Easy to register an account and get started through the Western Union app

Cons:

  • Fees vary based on service and destination country

  • Exchange rates include a variable markup

  • Not all services are available in all destinations


App StorePlay Store
Rating4.84.5
Number of reviews532,000+248,000+
Availability21 different languages21 different languages
User experienceThe majority of users post 5 star reviewsThe majority of users post 5 star reviews

Provider 5 - Revolut

  • Fees and exchange rates: exchange currency to your plan limit using the mid-market exchange rate and transfer with a variable fee from 0.3% to 2%

  • Safety: Revolut is regulated in Singapore by MAS

  • Speed: transfers to bank accounts take a few minutes in some cases, but up to 3 to 5 days for some destinations

  • Customer reviews: 4.4/5 rating on Play Store, from almost 2 million reviews; 4.7/5 rating on the App Store from 30,000+ reviews

With Revolut you’ll need to register an account and get verified by uploading your documents to get started. Standard accounts are free, or you can upgrade to a plan with a monthly fee to unlock more features. 

As well as international transfers, Revolut accounts offer a great range of services. Even with free standard plans you can hold and exchange 30+ currencies, spend with a linked debit card, earn interest on your balance, and unlock lots of investment and budgeting tools.

There are no limits for most international transfers with Revolut - if any specific limitations apply to your payment you’ll be notified when you set it up in the app. Revolut account holders can exchange funds with the mid-market exchange rate to plan limits - 5,000 SGD per month for a standard plan - and send transfers with a low, variable fee based on the currency. If you’ve upgraded to a paid plan you may be able to exchange unlimited amounts with the mid-market rate, and even get free unlimited international transfers.

Revolut pros and cons

Pros:

  • Get a free account or pay a monthly fee for more features

  • Send payments with mid-market exchange rates and low transfer fees, subject to your account type

  • Manage all your finances in one place, right from your phone

Cons:

  • You’ll need to pay a monthly fee to get all the available features from Revolut

  • Out of hours and exotic currency fees may apply

  • Bank deposits take up to 5 days


App StorePlay Store
Rating4.74.4
Number of reviews30,000+1.97 million
Availability22 languages22 languages
User experienceEasy to use interfaceEasy to use interface

What is the best app for transferring money?

There’s no one best international money transfer app - different options suit different customer needs. Here’s a quick overview so you can pick the best one for your specific payment:

App NameBest for FeesSpeedTransfer LimitsAvailabilityOperating System
RemitlyPersonal payments on popular remittance routesFees vary by destination and serviceExpress payments can be instant, Economy payments may take a few days

5,000 SGD/day for a Tier 1 account - up to 45,000/day with a verified account

Send from 21 countries, to up to 100Apple and Android
MoneyGramFast payments for cash collectionFees vary by destination and serviceFrom a few minutes to a day or so depending on the delivery type and destination13,500 SGD per payment or per month in the appSend almost anywhere in the worldApple and Android
Western UnionCash collections all over the worldFees vary by destination and service

Money in Minutes payments are almost instant, bank deposits may take 1 - 2 days

5,000 SGD up to 50,000 SGD per day for verified accountsSend almost anywhere in the worldApple and Android
RevolutMulti-currency accounts with low fee international transfers

Usually 0.3% - 2%

Transfers to cards can take minutes, bank deposits may take 3 - 5 days

No limits for most currencies Hold 30+ currencies, send all over the worldApple and Android
WiseMid-market exchange rate payments with transparent deesFrom 0.41%Payments can be instant1 million GBP or equivalent for most currenciesHold 50+ currencies, send to 80+ countriesApple and Android

Conclusion

There are plenty of different international money transfer apps you might choose from - and each one will suit a different customer, with different payment needs. 

At Exiap you can compare providers transparently, to find the best money transfer service for your needs based on both the fees and exchange rates available. All information on Exiap is updated dynamically so you know you’ll get the most up to date detail available.

Use this guide as a starting point to pick the right one for you - and don’t forget to check out the Exiap comparison page to get more live fee and exchange rate information.

FAQ

Which money transfer apps work internationally?

Many international money transfer services have apps - check out Remitly, Western Union, Revolut, Wise or MoneyGram as a starting point.

Which apps transfer money instantly?

Delivery times for international transfers do vary widely depending on where you’re sending payments to, and how you want them to be collected. For near-instant cash collections, check out Remitly or Western Union, and for fast transfers to banks, take a look at Wise.

Are money transfer apps safe to use?

All the providers we’ve highlighted in this review are fully licensed and regulated, making them a safe way to send your payment.

How do international money transfer apps work?

To make a payment with an international money transfer app you’ll need to create an account, and get a quote for the fees and exchange rate available. Pay with your card, or through a bank transfer, and your money will be on its way.

What is the easiest app to send money?

There’s no single easiest international money transfer app - use this guide to pick the right one for you based on our analysis and the customer rating information shared from Apple App store and Google Play.

By Ileana Ionescu
Updated 10 October 2022