Quick answer: Wise gets you the mid-market rate with transparent fees and a multi-currency account that feels like a local bank in 50 countries. Western Union wins when someone needs cash in hand today, with agents all over the island. Revolut bundles spending, investing and transferring into one slick app, and OFX is the one to call for large sums where a dedicated dealer makes the difference.
Sending an allowance home, paying overseas suppliers, or splitting a group holiday bill—the true contest is not about loud claims, but who offers the genuine rate with no act-blur hidden fees.
This sits inside Best Bank Accounts & Savings in Singapore, alongside 20 related guides.
Wise
Wise runs on a simple idea that still feels rare: show the real exchange rate and charge a small, upfront fee. Their multi-currency account holds over 50 currencies, and the debit card spends like a local card overseas. Transfers reach 70+ countries, often in seconds, and you can handle SGD through PayNow or FAST without a sweat. The whole operation is regulated by MAS, with an office at Paya Lebar Quarter.
This is the one for the person sending money home every month, the freelancer billing overseas clients, or anyone who checks the mid-market rate before they convert. A transfer to Australia or the UK costs well under 1%, and the app shows you the fee before you hit send.
This is the one the perpetually-online Singaporean uses for everyday overseas spending and transfers. The multi-currency account and debit card mean you sidestep lousy airport rates entirely. If you’re the sort who juggles currencies across a few countries, just load it up. Transfers via PayNow clear swiftly during banking hours, so plan your move around lunch for same-day smoothness.
Address: 2 Tanjong Katong Rd, #07-01, Paya Lebar Quarter – PLQ 3, Singapore 437161
Phone: +65 3163 7288
Hours: 24/7 in-app and phone support for logged-in users
Price signal: Real mid-market rate, fees under 1%
Wise Singapore
We compile these ourselves and take suggestions. If your business belongs on this list, tell us why.
Western Union
Sometimes you just need the money to land where it needs to land, and you need it done now. Western Union has been moving cash across borders for longer than most of us have been alive, and their Singapore network is properly spread out—think Toa Payoh Central, Ang Mo Kio MRT, and plenty more. Transfers go to over 200 countries, with options for bank deposit, cash pickup, or mobile wallet.
The real draw is speed and physical access. You can walk into an agent, hand over cash, and someone overseas picks it up in minutes. For the auntie who sends money to relatives in the provinces or the son settling a property matter abroad, that immediacy matters more than shaving off a few basis points. Their My WU rewards programme quietly chips fees down for regular users.
Ideal for when speed is everything—maybe your nephew’s red packet needs to arrive before the wedding toast, or a family matter can’t wait. Their heartland counters are a comforting touch: walk into Toa Payoh or Ang Mo Kio, pass your cash, and the money lands while you’re still queuing for kopi. The original name in cash pickup still delivers on its promise.
Agent location: Blk 178 Toa Payoh Central #01-234, Singapore 310178 (and multiple others)
Phone: +65 6336 2000
Hours: Most agents 9am to 9pm daily, check your nearest
Price signal: Competitive for cash transfers, rewards discounts available
Western Union Singapore
Instarem
Instarem is a digital-first service under Nium Pte Ltd, MAS-regulated, and built for people who move money often enough to want something back. Their fee starts at 0.4%, and you earn loyalty points with every transfer—points you can redeem for discounts on the next one. Over 60 countries are covered, and the rate-lock feature means you can hold an exchange rate while you sort out your funds.
What makes it click for the Singapore crowd is the amaze card integration. Pair the two and you spend overseas like a local, with Instarem handling the conversion behind the scenes. If you travel for work or pleasure and find yourself juggling multiple currencies month after month, the points alone make it worth a look.
Regular remitters, take note: the loyalty points system means every transfer chips something off the next, like an unspoken stamp card at your favourite hawker spot. Rate-lock is the real insider move—peg a good rate when you spot it, then fund the transfer at your own pace, no need to chiong. It suits those who send money home on a schedule.
Phone: +65 6909 8841
Email: [email protected]
Hours: Help centre and email support during business hours
Price signal: From 0.4% fee, with loyalty rewards
Instarem
Revolut
Revolut is less a money transfer service and more a financial Swiss Army knife that happens to send money brilliantly. From their City House office on Robinson Road, they operate under MAS licence and pack an app with peer-to-peer transfers, bank deposits across 40 currencies, and even cryptocurrency holdings if that is your thing. The no-fee exchange runs up to a monthly limit, after which charges stay clear and low.
Young professionals and the digitally native crowd gravitate here because everything sits in one place. Split a dinner bill in euros, send rent in pounds, buy Bitcoin in the same app—it is all there. The metal card options and sleek interface do not hurt either, but the real substance is how much ground it covers without making you switch platforms.
If you are already deep into Streaming Services in Singapore and managing subscriptions across regions, Revolut handles those recurring overseas payments cleanly.
If you are heading overseas and want to lock in rates before the trip, this is your move. The app lets you hold balances in multiple currencies, so you can exchange when the rate looks favourable and spend directly from that balance abroad. No need to scramble at the airport. The free transfers clear quickly during banking hours, so timing is everything—do it after morning tea and you are sorted.
Address: 36 Robinson Road, #20-01, City House, Singapore 068877
Phone: +65 69298748
Hours: 24/7 in-app chat support
Price signal: No-fee exchange up to monthly limit on standard plans
Revolut Singapore
SingX
SingX keeps things refreshingly straightforward: no markups on the exchange rate, no hidden fees tucked into the fine print. MAS-licensed and based out of Cecil Court, they are built for people sending larger amounts who would rather not lose a chunk of the sum to poor rates. Rate alerts let you wait for the right moment, and you deal through bank deposits.
Business owners managing overseas suppliers and individuals with property investments abroad tend to find their way here. It is a quieter name than some on this list, but that focus on high-volume, low-cost transfers creates a loyal following. You make an appointment to visit, and the conversation is about what you actually need.
For large, one-off transfers where you want every cent to show up intact, this is your lane. Their no-markup pledge means the rate you see on Google is nearly what you get. Here’s the local rhythm: set a rate alert, then when it hits, move fast—a good rate at 3pm can disappear before dinner. An agak agak timing, so stay alert.
Address: 138 Cecil Street #04-01, Cecil Court, Singapore 069538
Phone: +65 3158 4669
Email: [email protected]
Hours: By appointment during business hours
Price signal: Competitive FX rates, zero markups
SingX
We compile these ourselves and take suggestions. If your business belongs on this list, tell us why.
WorldRemit
WorldRemit runs entirely online, no counter to visit, and covers a huge footprint—150 currencies stretching into markets where some bigger names do not reach. Same-day bank transfers, cash pickup, and mobile top-ups are all on the menu, and the fees stay low especially for emerging-market corridors. It is accessible in Singapore and compliant for local use, with 24/7 live chat when you need a hand.
This is the service for someone supporting family in places where bank infrastructure is patchy but mobile money is king. A nurse sending remittances home to the Philippines, a son topping up his parents’ phone credit in Indonesia—WorldRemit has that path worn smooth. The interface is clean enough that you do not need to be tech-savvy to use it.
When you are done sorting your transfers, you might also want to look at Photo Printing Services in Singapore to send a little something tangible to the people you are supporting.
This fills the gaps when you need to top up a relative’s mobile wallet in a smaller city or send cash pickup to a market where some bigger names don’t reach. The whole process is online, so you can settle it at midnight while lepak at home—no need to rush before closing. Coverage across 150 currencies means rarely hitting a dead end.
Service area: Online-only, accessible across Singapore
Hours: 24/7 live chat support
Price signal: Low fees for emerging-market corridors
WorldRemit
CurrencyFair
CurrencyFair works differently from most. Instead of taking whatever rate a platform gives you, you can set your own rate and wait for the market to match it—or use their peer-to-peer marketplace where users swap currencies directly. This cuts out a layer of cost that traditional services bake in. Over 20 currencies are supported, and the platform is run by CurrencyFair (Singapore) Pte Ltd, regulated by MAS from their AIA Tower office.
High limits and low margins make this a natural fit for larger, less urgent transfers. Think of the investor moving a lump sum for an overseas property purchase, or a business paying a supplier invoice a month out. The rate-setting feature rewards patience, and the savings over bank rates can be substantial on five- or six-figure sums. For something on the other end of the financial spectrum, check Money Lenders in Singapore when you need credit rather than currency.
If you can plan ahead and don’t mind waiting for the market to come to you, this is the side door. Set your own exchange rate like a limit order, and the platform matches you with someone swapping the opposite way. It’s the money-transfer version of patience paying off—solid for those who check rates over their morning coffee.
Address: 1 Robinson Road #17-00, AIA Tower, Singapore 048542
Email: [email protected]
Hours: Support during business hours
Price signal: Minimal fees, marketplace rates beat banks
CurrencyFair
OFX
OFX is the service you call when the amount is large enough that you want a human voice on the other end. Regulated by MAS through OFX Singapore Pte Limited and operating from Asia Square Tower 2, they offer 24/7 phone access to dealers who handle 55 currencies. Forward contracts let you lock in a rate today for a transfer months away, and rate alerts ping you when the market moves in your favour.
No transfer fees on amounts above a certain threshold keeps things clean, and the personal relationship with a dealer matters when you are moving serious capital. Corporate treasurers, private wealth managers and anyone buying property overseas will recognise the value of that direct line. It is less about the app, more about the conversation.
While you are planning your finances, a good Balance Transfers in Singapore strategy can free up cash flow alongside your international moves.
For the big-league moves—buying property overseas or paying suppliers in bulk—you want a human voice. Their dealers talk you through the market, and forward contracts let you lock today’s rate for a transfer three months out. It’s the quiet confidence of knowing your large sum is sheltered from a sudden dip.
Address: 12 Marina View, #10-00, Asia Square Tower 2, Singapore 018961
Phone: +65 6817 8747
Hours: 24/7 phone support for clients
Price signal: No fee on larger transfers, forward contracts available
OFX Singapore
How to choose
The right service depends on three things: how much you send, how fast it needs to arrive, and where it is going.
For smaller, regular transfers under a few thousand dollars, a digital-first platform like Wise or Revolut will save you the most on fees and give you a card you can use overseas. If the recipient needs cash in hand within the hour, Western Union’s agent network is hard to beat—walk in, pay, and they pick it up.
For bigger sums—say above ten thousand dollars—the economics shift. CurrencyFair’s marketplace and OFX’s dealer model start to pull ahead, because shaving even half a percent off the exchange rate means real money stays in your pocket. SingX occupies a similar space with its no-markup promise.
Check which corridors each service actually covers. WorldRemit punches above its weight for emerging markets, while OFX and Wise cover the major currency pairs deeply. If you are sending to a less common destination, confirm it is supported before you sign up.
Fair pricing across this category: expect to pay between 0.4% and 1% in total cost for a typical transfer from SGD to a major currency. Anything above 2% all-in and you are probably overpaying. Cash pickup and urgent transfers naturally cost more.
| Service | Best for | Coverage | Fee benchmark | Standout feature |
|---|---|---|---|---|
| Wise | Frequent, smaller transfers | 50+ currencies, 70+ countries | Under 1%, mid-market rate | Multi-currency account with debit card |
| Western Union | Urgent cash pickup | 200+ countries | Agent-dependent | Physical agent network, minutes-fast delivery |
| Instarem | Loyalty rewards seekers | 60+ countries | From 0.4% | Points programme and amaze card integration |
| Revolut | All-in-one money app users | 40+ currencies | Free up to monthly limit | Banking, transfers and crypto in one app |
| SingX | High-volume, low-cost transfers | Check with the business | No markup on FX | Zero hidden fees, rate alerts |
| WorldRemit | Emerging-market corridors | 150+ currencies | Low corridor fees | Mobile top-ups and cash pickup in remote areas |
| CurrencyFair | Large, non-urgent transfers | 20+ currencies | Minimal fees, peer-to-peer rates | Set-your-own-rate marketplace |
| OFX | Large sums, personal service | 55+ currencies | No fee above threshold | 24/7 dealer access, forward contracts |
Summary
Wise leads for everyday transfers with transparent pricing and a genuinely useful multi-currency account. Western Union remains the go-to when cash needs to land fast, and OFX is the steady hand for large, considered transactions. The rest each carve out their niche—whether it is rewards, crypto, emerging markets, or peer-to-peer rates. Match the service to the job and you will keep more of what you send.
Details like fees, hours and coverage can change. Always confirm directly with the business before making a transfer.
Frequently asked questions
Which money transfer service in Singapore has the lowest fees?
Wise consistently offers fees under 1% using the real mid-market rate, while Instarem starts from 0.4%. For larger amounts, OFX and SingX drop fees entirely above certain thresholds.
Can I send cash for someone to pick up overseas?
Yes, Western Union specialises in this. You walk into an agent in Singapore, pay in cash, and the recipient picks it up in minutes at an agent in their country. WorldRemit also offers cash pickup in many locations.
Which service is best for sending money home regularly?
Wise and Instarem suit this well. Wise gives you a multi-currency account with local bank details overseas, and Instarem rewards repeat transfers with loyalty points you can redeem for discounts.
Are these services safe and regulated in Singapore?
Most are. Wise, Western Union, Instarem, Revolut, SingX, CurrencyFair and OFX are all regulated by the Monetary Authority of Singapore. WorldRemit operates online and is compliant for local use.
What is a mid-market rate and why does it matter?
The mid-market rate is the real exchange rate you see on Google, with no markup added. Services like Wise and SingX use this rate and charge a separate fee, so you know exactly what you are paying. Banks and some other services add a hidden margin to the rate itself, which makes the transfer cost more.
How fast do transfers arrive?
Many Wise and Western Union transfers land in minutes or same day. Bank deposits through Instarem, Revolut and others typically take one to two business days. Larger transfers through OFX or CurrencyFair may take a little longer depending on the currency and banking hours.
