Find the Best Way to Transfer Money Internationally

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Total cost
Amount received when sending S$2,000
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S$ 16.89SGDshow more
S$ 25.79SGDshow more

We compare the world's most trusted money transfer providers

We've put together a collection of the top money transfer providers, and if you're looking for an alternative, we additionally compare other available options. Check out our reviews for each by clicking on the links below:

The 6 best ways to make an international money transfer

Trying to find the most appropriate international money transfer service for your needs in Singapore can be daunting, with so many companies advertising their services.

To make your decision easier, we've reviewed the most trusted money transfer organisations before compiling a list of the top six ways to move your money overseas from Singapore.

  • Cheapest: Wise
  • Best Exchange Rate: Wise
  • Faster International Transfer Provider: Wise
  • Best Rated: OFX
  • Fee free: OFX
  • Best Transfer options: Wise

How to choose the best provider to send money abroad?

There’s no one single best way to send money abroad. Comparing a few different options is the best way to find your perfect match. Here are the key questions to think about when you choose the best provider to send money internationally for your specific transfer:

  • Is the provider regulated, with a good reputation?
  • How much is the transfer fee?
  • What exchange rate is used to convert your money?
  • When will your payment arrive?
  • How do you pay - and how will your recipient get their money?

    Some travel money providers also offer money transfer services, so it's worth checking them out to see what deals they can offer.

How to transfer money abroad from Singapore?

The exact steps you need to take to transfer money overseas may vary slightly depending on the payment method you choose. However, broadly, here’s what is needed for an international money transfer:

  1. Create an account with the provider you’ve selected, online, by phone or in person
  2. Upload or show your government issued ID and proof of address for verification
  3. Set up your payment by adding your recipient’s details (more on that below)
  4. Pay for your transfer - online payments can often be funded by bank transfer, credit or debit card - some providers also take cash if you visit an agent in person 
  5. Get confirmation of your payment, and track its progress online or in an app

What details do I need from my recipient?

If you’re sending a payment for cash collection, you’ll probably only need your recipient’s name as shown on their government issued ID. However, if you’re transferring money to a bank account or sending an international wire, you’ll need a little more:

  • Recipient’s full name
  • Recipient’s bank name and address
  • Recipient’s bank account number
  • Recipient’s bank BIC/SWIFT code
  • Sometimes other details are needed depending on the country, like a sort code for the UK or CLABE number for Mexico.

The 3 best money transfer services to transfer money from Singapore


CheapestFastestBest exchange rateBest transfer options

Wise offers online and in-app money transfer services to United States and 80+ other destinations around the world. You'll get the mid-market exchange rate to convert your Singapore Dollar, with fast transfer times. In fact, 50% of Wise transfers are instant*, and 90% get there in under 24 hours.

Pros and cons
  • Mid-market exchange rates and low fees from 0.41%
  • Send money abroad quickly - transfers can even be instant
  • Send in 50 currencies to 70 countries
  • No cash payment options
  • No branch network

How much does it cost to send money to United States with Wise?

  • Transfer fees: Send money from 0.41%
  • Exchange rates: Mid-market exchange rate
  • Additional fees: Transfer fees vary based on destination and how you choose to pay
* The speed of transaction claims depends on individual circumstances and may not be available for all transactions.


CurrencyFair can be a cheap international money transfer service with quick delivery times on many currency routes. There’s a low, flat fee per transfer, and you could also find you get a better exchange rate compared to your regular bank.

Pros and cons
  • Send in 15 currencies
  • Low transfer fees
  • Many currencies can be delivered on the same day, or within 1 working day
  • Exchange rates include a markup
  • Pay in Singapore Dollar by bank transfer only, no card option

How much does it cost to send money to United States with CurrencyFair?

  • Transfer fees: 16.89 SGD
  • Exchange rates: Exchange rates include a markup
  • Additional fees: Third party fees may apply depending on how you set up your transfer


Most expensiveFree fee

OFX is a currency specialist which offers quick international transfers and currency risk management solutions for individuals and businesses. You can send payments with OFX online and in-app, or access a 24/7 phone service if you’d rather talk your transfer through.

Pros and cons
  • Arrange your payment online, in app or by phone
  • Access other currency services including currency risk management solutions
  • Broad range of supported countries and currencies
  • Exchange rates include a markup
  • Minimum transfer amount 1000 USD

How much does it cost to send money to United States with OFX?

  • Transfer fees: No transfer fee from Singapore
  • Exchange rates: Exchange rates include a markup
  • Additional fees: Third party fees may apply

How long does it take to send money internationally?

How long it takes to send money internationally depends a lot on the provider you choose, and where your payment is going.

If you send money internationally with your bank from from Singapore, it’ll probably be processed through the SWIFT network, which may mean a transfer time of 3 - 5 working days. International money transfers services are usually quicker. Cash collection payments can be instant, and deposits to bank accounts may be instant or arrive in just a few hours.

Providers in the table typically take:

  • Wise: Instant-2 Days
  • CurrencyFair: 1-3 Days
  • OFX: 1-3 Days

Compare a few providers to see which has the fastest delivery time for your specific payment. Factors which can make a difference include: where you’re sending money to, the currencies involved, your own bank and the recipient’s bank processes, any public holidays in Singapore or recipient’s country, verification or security steps required.

Specialist international money transfer services and apps usually offer a delivery estimate before you confirm - and let you track your payment in real time.

Send money the quickest way with Wise

What is the best way to send money safely?

When you choose a reliable provider, sending money online from Singapore is completely secure. For your assurance, these web-based money transfer services are supervised and monitored like banks - they're already widely used globally by millions of customers!

In fact, Wise is trusted by 13+ million people, and Western Union processes a spectacular 24 transactions a second on average!

This is how the 3 companies we found that can help you transfer money from from Singapore rank in terms of number or reviews and average score on TrustPilot:

  • OFX: 9,976 reviews, rated 4.4/5 on Trustpilot
  • Wise: 222,924 reviews, rated 4.3/5 on Trustpilot
  • CurrencyFair: 7,675 reviews, rated 3/5 on Trustpilot
Go to OFX

Banks vs online money transfer services

Specialist online money transfer services and apps can often offer a better service compared with traditional banks. Specialist providers have been built specifically for online international payments, which means they’ve invested time and money in coming up with innovative approaches to move your money faster and for lower fees.

Here are some things to consider when you’re deciding between banks vs online money transfer services when sending money from Singapore:

  • Banks may have higher upfront transfer fees, which aren’t always transparent
  • Online money transfer services may offer a better exchange rate compared with banks
  • Banks usually wire money through the SWIFT network, which can mean unexpected charges
  • Online money transfer services often have faster delivery times and a broader variety of payout options
Start sending money cheaper & faster with online money transfer specialists

What are the best international money transfer apps to use?

An international money transfer app can be the easiest way to get your money moving fast from from Singapore. Apps tend to be intuitive to use, and digital money transfer services allow you to sign up, get verified and send a payment without ever needing to leave home.

Here are some of the best international money transfer apps on the market at the moment, to help you find the right one for you:

  1. Wise - send payments to 80+ countries, with the mid-market exchange rate and low, transparent fees. Transfers are fast, and available for individuals and businesses. 
  2. Revolut - Revolut customers can exchange currencies with the mid-market rate up to plan limits, and send payments overseas with low fees.
  3. Remitly - Remitly customers in any of the supported send counties can make personal payments on popular remittance routes to bank and mobile money accounts, and for cash collection or home delivery. 
  4. OFX - currency specialist OFX offers international payments for individuals and businesses, as well as a range of currency risk management options, with personal support over the phone if you need it.
  5. Western Union - Western Union has a huge network of agents spanning the globe, and offers a broad range of ways to pay, and to have your money delivered to your recipient.
Try the best rated, OFX app

How to receive money internationally to Singapore?

If you need to receive money internationally you might have the sender make a cross-border payment direct to your bank account, or use a provider which can offer cash collections locally. Both of these options can be pretty convenient - but they can also involve high fees, either for you or the person sending the money.

As an alternative, consider getting an online multi-currency account, like the Wise account. With Wise you can hold and exchange 50+ currencies, and you’ll get bank details for up to 10 major currencies, so your sender can make a local transfer right to your Wise account in the currency of their choice. It’s usually free for them to make a local payment - and entirely free for you to receive a transfer to Wise using your local bank details, from 30+ countries.

Learn more about multi currency account providers

How can you pay for your transfer from Singapore?

If you want to save money when transferring funds abroad, your best bet is opting for a provider that accepts debit cards or bank transfers. This type of payment method can help you avoid unnecessary fees and charges associated with other types of payments.


Bank transfer, card (debit or credit), SWIFT, Google Pay or Apple Pay


Bank transfer or direct debit

How to send large amounts of money internationally?

If you need to send a large sum of money to another country, you may need a few extra pieces of information or documentation, for security purposes.

Banks and money transfer services are obliged to carry out verification to comply with Singapore and global legislation designed to stop fraud and money laundering. That may mean you’re asked for proof of the source of the funds, details about the reason for the payment, or additional ID.

Because of these additional steps, it may take a little longer to send large amounts of money internationally.

Find the best provider for your large amount transfer

What's the cheapest way to transfer money internationally from Singapore?

When it comes to finding the least expensive way of sending payments from Singapore, there are a few factors at play such as where you're sending money to, how you'd like to pay and receive funds, and how quickly they need to arrive that you need to take into account.

We have collected the best providers for our most popular destinations when sending S$2000 with an online money transfer specialist in our table below:

Sending money from Sending money to Cheapest provider Available providers Recipient gets
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Good to know for international money transfers:

  • Midmarket rate: A midmarket rate is the cost of exchanging money from one country to another. It is the rate between what you can buy and sell currency for. It is higher than the interbank rate but lower than what you would pay at an exchange bureau or bank. Generally, midmarket rates are used by companies when trading internationally.
  • Exchange rate markup: Exchange rate markup is an extra fee that you have to pay when sending money from one country to another. It is used to cover the cost of exchanging one currency for another. Banks and money transfer services typically use exchange rate markups to make a profit on each transaction. This markup can vary significantly from one provider to another.
  • Exchange rate: Exchange rate is how much money one country's currency is worth when you exchange it for another country's currency. Exchange rates are determined by market forces and government policies.
  • Provider fee: Provider fee is the cost for sending money to another country. It is typically a percentage of the total amount sent and can vary from provider to provider. Some providers may also charge an additional fee for certain services or for each transaction. It is important to compare the fees of different providers before deciding which one to use for sending money abroad.

Discover the opportunity to save thousands of dollars today by joining over 100,000 monthly users who are quickly and easily finding and comparing fees and exchange rates for their next international transfers. With just a few clicks, you can compare available options in seconds to make sure you're getting the best value possible!

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FAQ About the best ways to send money internationally

What is the best way to send money internationally?

The best way to send money internationally will vary depending on your specific needs and circumstances. There are multiple ways to do it, but the most popular are: international wire transfer through banks or online services like Wise or OFX.

Though each have their own pros and cons such as distinct exchange rates, fees and turnaround times. It's important to compare and research the different options before making a decision.

Are there any fees associated with sending money internationally?

Fees for sending money internationally will vary depending on the method you choose and the service provider you use. Banks may charge a flat fee or a percentage of the total transfer amount, while online money transfer services may charge a fixed fee or a markup on the exchange rate.

Be sure to research the fees associated with different methods and compare them to find the best deal.

Are there any risks involved with sending money internationally?

Sending money internationally does come with certain risks, such as the potential for fraud and scams. It's important to only use reputable and well-established service providers, and to carefully check the recipient's information before initiating a transfer.

Additionally, there may be risks in regards to currency fluctuations, especially if you need to send a large amount of money and have no certainty on the exchange rate.

How much do banks charge for international money transfer?

The amount that banks charge for international money transfers varies, depending on a number of factors such as the amount being transferred and the currency involved. As a general rule, banks usually charge a fixed fee plus a percentage of the transfer value.

Additionally, some banks may also include extra charges for exchange rates or other fees associated with completing an international money transfer that might be hidden. Online money transfer specialist are often a cheaper and quicker alternative to banks so if you want to make sure you send your money in the cheapest and quickest way, make sure you compare your money transfer options first.

Are there any limits on the amount of money I can transfer internationally?

Yes. These limits will vary depending on how much you wish to transfer, the countries you send money to, and what method of transfer you are using (be it a bank deposit, mobile payment, or cash pick-up).

For instance, OFX have a £100 minimum transfer amount. In comparison, Wise have no minimum and no maximum transfer amount. Meanwhile, WorldRemit have no minimum transfer amount and the maximum you can send using their service is £50,000 (by bank transfer).

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