Find the Best Way to Send Money to Singapore

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Some of the best money transfer services to send money to Singapore

Transfer Money from Australia to Singapore
  1. TransferWise offer some of the best exchange rates for SGD transfers
  2. TorFX are a good option for larger transfers and they have a local offices both in Singapore and Australia
  3. WorldRemit is one of the cheapest ways to send money and is ideal for remittances to family and friends
  4. WorldFirst have a range of business products and services
  5. SendFX are a newer money transfer service based in Queensland with good rates and no fees
  6. OFX is an Australian owned online money transfer service
  7. XE Money Transfers are one of the largest and most reputable money transfer companies in the world
  8. Currencies Direct offer an easy to use online platform, fee free

In this guide

When transferring money to Singapore from Australia there are lots different companies. How do you quickly check all the companies and their exchange rates? Easy. With our comparison table, it will show you the cheapest money transfer option when sending money to Singapore from Australia.

We will also share with you:

Need to send money to Australia from Singapore instead? Learn more here.

How to transfer money to Singapore from Australia

How can I transfer money to Singapore from Australia?

While each bank and money transfer service is different, you will always need to follow these steps to transfer your money safely and quickly:

  1. Setting up an account usually takes 10 minutes and make sure you have some I.D. on hand
  2. Enter the bank details of the person or company you are sending the money to
  3. Pay for your transfer using a credit card or debit card, bank transfer or wire transfer

Now that you know how to transfer money to the Singapore, you can compare your options. We understand, this isn't easy.

Every bank and money transfer company offer different exchange rates and transfer fees depending on how much you want to send.

That's why using our table compares the total cost of the transfer, based off the amount of your transfer.

How to find the cheapest way to transfer money to Singapore

Banks and money transfer services will offer different foreign exchange rates and transfer fees depending on your amount. To find the cheapest option, you really need to compare the total cost of the transfer based on your amount.

Transfer Money from Australia to Singapore. Step 1


Enter your amount Enter the amount of Australian dollars (AUD) you wish to send to Singapore
Transfer Money from Australia to Singapore. Step 2


Compare your options Your comparison is ranked from cheapest to most expensive in Singapore dollars (SGD)
Transfer Money from Australia to Singapore. Step 3


Learn more To learn more about how it works, go to their website

How much will it cost to make my international money transfer?

There are 3 fees you'll usually be charged to send money to Singapore:

  • Exchange rates - The better the exchange rate, the more Singapore dollar (SGD) you get in the Canadian bank account. Money transfer services that offer competitive exchange rates will usually charge you a separate transfer fee.
  • Transfer fees - These can range anywhere between $0 to $5. Some online transfer companies offer fee-free transfers for sending large amounts of money. These companies usually charge a slightly worse margin on their exchange rate, but are still better than bank fees.
  • Hidden fees - You or the person you're sending money too will often get charged a bank receiving fee or banks intermediary fee of approximately $25 each.
How much will it cost to transfer money from Australia to Singapore?

What information do you need to transfer money to Singapore?

You usually need to provide the following information to your bank or money transfer service for your international money transfer:

What information will I need to transfer money from Australia to Singapore?
  • Your personal information: Your full name, address and date of birth. For security reasons they need your photo id scanned or photographed. You can use your mobile phone to take a photo and send.
  • How you wish to pay: Your bank details, account numbers and address or debit/credit card details.
  • The full name and address of the person you wish to pay.
  • Singapore bank account details, the name on the account, the bank code, the branch code and SWIFT code or BIC code for the bank account in Singapore.
Helpful hints

- Make sure your photo is of a high quality so they can see the picture
- Make sure your personal id is valid and within the expiry date
- You can't give your work/office address or PO box address

How long does it take to transfer money overseas?

Money Transfer Services can take 0 - 3 business days

When using a money transfer service like TransferWise, they tend to quote transfer time in hours not days. Unlike banks, they keep you updated on the movement of your funds.

Remittance Companies can take 0 - 5 business days

An instant transfer is available with remittance companies if you pay a higher transfer fee and the person can organise a cash pick-up. You can send money using a bank transfer and it can take up to 5 business days.

Bank to Bank Transfer can take 2 - 5 business days

Also known as a 'wire' or 'telegraphic transfer'. These transfers are slow, because the money may go through a network of correspondent banks before landing into their local bank account.

How long does it take to transfer money from Australia to Singapore?

What are the limits and tax implications on online money transfers to Singapore?

What are the money limits and tax implications of making a money transfer from Australia to Singapore?

There are no limits on the amount of money you can transfer to a Singaporean bank account. Your money transfer service or bank might have a restriction however sometimes these are as high as $2 billion per transfer. Some money transfer services do not have limits.

There are no 'gift taxes' in Singapore when receiving money from Australia, Singaporeans do not have to include it in their income. Therefore you can send as much as you want without having to worry about your friends or family getting a tax bill.

It is best to contact a tax professional for advice if you are unsure of the rules.

Keeping your money safe

One of the main questions people ask us is “will my money be safe online?" The answer is yes.

We've made sure that all the money transfer services and banks you compare are safe. Each company is :

  • Is regulated in Australia - AUSTRAC in Australia
  • Holds an appropriate financial services license - with ASIC in Australia
  • Have strict privacy and verification policies - this is to ensure they fully identify all of their customers. They invest in identity protection, fraud prevention and encryption to create a secure connection with your browser when you register and login into their online services.
Transfer Money to Singapore Online Safely

FAQs about Sending Money from Australia to Singapore

How can I pay for my money transfer to Singapore?

Depending on your provider, there are several different ways to pay. Many providers accept direct bank transfers, wire transfers, or debit cards or credit card payments. They may charge a small additional fee, depending on how you decide to pay.

Is it safe to use The Currency Shop to compare?

Yes. The Currency Shop holds an Australian Financial Services Licence (ASIC) (462269) and is a member of the Financial Ombudsman Service. We closely vet our providers and only partner with the largest, safest and most trusted money transfer companies in the world. That just makes sense.

How does The Currency Shop make money?

The Currency Shop does not charge you. Instead, we receive a referral fee from the banks and money transfer companies that we are partnered with. This does not affect the price you pay.

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Need a hand? Call to speak to a human 1800 004 930 or send us an email.

By Justin Rampono Updated March 5th, 2021