Sending money home is one of the most important financial tasks for any expat in Singapore. Whether you are sending money to Bangladesh, Philippines, India, Indonesia or any other country, you want the best exchange rate, lowest fees and fastest transfer speed. In this complete guide, we compare all the best ways to send money from Singapore in 2026 so you can make the smartest choice for your hard-earned money.
Why Choosing the Right Money Transfer Service Matters
Many expats in Singapore lose hundreds of dollars every year simply by using the wrong money transfer service. Banks often charge high fees and offer poor exchange rates. By switching to a better service, you can save significantly on every transfer you make. Over a year, this can add up to a very meaningful amount of money.Best Ways to Send Money from Singapore 2026
1. Wise (formerly TransferWise)
Wise is without doubt the most popular money transfer service among expats in Singapore. It uses the real mid-market exchange rate — the same rate you see on Google — with a small transparent fee. Key features: - Uses real mid-market exchange rate - Low fees: typically 0.4% to 1.5% - Fast transfers: 1 to 2 business days - Available as mobile app and website - Supports over 50 currencies Best for: Expats who want the best exchange rate and low fees How to use Wise in Singapore: Step 1: Download the Wise app or visit wise.com Step 2: Create an account with your passport and Work Pass Step 3: Verify your identity Step 4: Add your Singapore bank account Step 5: Enter the amount and destination Step 6: Confirm the transfer Step 7: Money arrives in 1 to 2 business days2. Remitly
Remitly is extremely popular among expats sending money to Bangladesh, Philippines, India and other Asian countries. It offers very competitive exchange rates and fast transfer speeds. Key features: - Very competitive exchange rates - Fast transfer options available - Fixed fee: SGD 2.99 to SGD 3.99 - Express option for instant transfers - Excellent customer support Best for: Sending money to Bangladesh, Philippines, India and Southeast Asia3. Western Union
Western Union is one of the oldest and most trusted money transfer companies in the world. It is available at many locations across Singapore including 7-Eleven stores and post offices. Key features: - Cash pickup available at many locations - Bank transfer and mobile wallet options - Available 24/7 at agent locations - Trusted worldwide brand - Good for recipients without bank accounts Best for: Recipients who prefer cash pickup or do not have a bank account4. MoneyGram
MoneyGram offers competitive rates and is widely available across Singapore. It is a good alternative to Western Union with similar features and services. Key features: - Cash pickup at thousands of locations - Bank deposit and mobile wallet options - Competitive exchange rates - Fast transfers available - Good coverage in Asia and Middle East Best for: Sending to countries with limited banking infrastructure5. Singapore Bank Transfer (SWIFT)
You can send money directly from your Singapore bank account via SWIFT international transfer. All major Singapore banks including DBS, OCBC and UOB offer this service. Key features: - Very secure and reliable - Direct bank to bank transfer - Good for very large amounts - No additional app needed Fees: SGD 20 to SGD 40 per transfer Speed: 2 to 5 business days Best for: Very large amounts where security is the top priority6. Instarem
Instarem is a Singapore-based money transfer company that has grown rapidly in recent years. It offers competitive rates and is fully regulated in Singapore. Key features: - Competitive exchange rates - Low fees - Fast transfers - Singapore-based and regulated - Earn reward points on transfers Best for: Expats who prefer a Singapore-based serviceComparison of Best Money Transfer Services 2026
Wise: Exchange rate: Best (mid-market rate) Fees: 0.4% to 1.5% Speed: 1 to 2 days Best for: Best rates overall Remitly: Exchange rate: Very good Fees: SGD 2.99 to SGD 3.99 Speed: Minutes to 3 days Best for: Asia remittance Western Union: Exchange rate: Average Fees: Varies Speed: Minutes (cash pickup) Best for: Cash pickup Bank Transfer: Exchange rate: Below average Fees: SGD 20 to SGD 40 Speed: 2 to 5 days Best for: Large amounts Instarem: Exchange rate: Good Fees: Low Speed: 1 to 2 days Best for: Singapore-based optionHow to Get the Best Exchange Rate in Singapore
Getting the best exchange rate requires a little planning. Here are our top tips:Always Compare Before You Send
Use comparison websites like Monito.com or Wise.com to compare rates across different services before every transfer. Rates can change significantly from day to day.Avoid Airport Money Changers
Airport money changers typically offer very poor exchange rates. Avoid them for anything other than small amounts of emergency cash.Send on Weekdays
Exchange rates tend to be slightly more favorable on weekdays. Avoid sending money on weekends or public holidays when possible.Send Larger Amounts Less Frequently
If you pay a fixed fee per transfer, sending larger amounts less frequently will save you money on fees.Watch for Promotional Rates
Many services like Remitly and Wise offer promotional rates for first-time users or during special periods. Keep an eye out for these promotions.PayNow for Transfers Within Singapore
If you need to transfer money to someone else in Singapore, use PayNow. It is completely free, instant and available through all major Singapore banks and digital wallets. You can transfer money using just the recipient's mobile number, NRIC number or UEN number. No account details needed.How Much Can I Send from Singapore?
There is no legal limit on how much money you can send from Singapore. However: - Transfers above SGD 5,000 may require additional verification - Banks may require source of funds documentation for very large transfers - Always keep records of your transfers for tax purposes - Some services have daily or monthly transfer limitsIs it Safe to Send Money Online from Singapore?
Yes, sending money online from Singapore is very safe, provided you use regulated and reputable services. All the services mentioned in this guide are regulated by the Monetary Authority of Singapore (MAS) or equivalent regulators in their home countries. Always use the official app or website and never share your login details with anyone.Tips for Expats Sending Money from Singapore
- Set up rate alerts on Wise to get notified when the rate is favorable - Keep all transfer receipts for your records - Use the same service consistently to build up reward points - Check transfer limits before sending large amounts - Always double-check the recipient's bank details before confirmingFrequently Asked Questions
Which is the cheapest way to send money from Singapore?
Wise is generally the cheapest option for most currencies because it uses the real exchange rate with a low transparent fee.How long does it take to send money from Singapore?
It depends on the service and destination. Wise typically takes 1 to 2 business days. Remitly Express can be instant. Bank transfers take 2 to 5 business days.Can I send money from Singapore on my Work Permit?
Yes, Work Permit holders can send money from Singapore. You will need to verify your identity with your passport and Work Permit when signing up for a transfer service.Do I need to pay tax on money sent from Singapore?
Singapore does not tax outgoing remittances. However, you should check the tax rules in your home country regarding money received from abroad.Useful Resources
Monetary Authority of Singapore (MAS) Website: mas.gov.sg Compare transfer rates: Website: monito.com Wise Singapore: Website: wise.com/sg Remitly Singapore: Website: remitly.comFinal Thoughts
Sending money from Singapore has never been easier or more affordable. With services like Wise and Remitly, you can send money home quickly, safely and at the best possible exchange rate. Take a few minutes to compare rates before every transfer. Even a small difference in exchange rate can mean significantly more money for your family back home. Have questions about sending money from Singapore? Leave a comment below and we will be happy to help!
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