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Table of Contents
Wise is my top pick for PayNow-funded bank transfers because it separates its fee from the mid-market exchange rate.
Instarem adds Singapore credit-card funding, while DBS Remit can remove the transfer fee for eligible existing customers.
The cheapest app still depends on the amount, destination, funding method and whether your recipient needs bank, cash or wallet delivery.
Search Now & Save On Your Transfer
Instantly view live exchange rates, fees & features.
Cheapest money transfer apps in Singapore right now
Use both amount tabs because fixed fees, exchange thresholds and available companies can change the result.
Keep the funding and payout methods identical when comparing recipient amounts across the eight destinations.
Last updated at 26/09/2026
SGD USD
Mid Market Rate$1 = $0.7825$1 = $0.7825
Transfer Amount$1,000$10,000
1
Instarem
2
Wise
3
Currencies Direct
4
OFX
1
Wise
2
Key Currency
3
Regency FX
4
TorFx
Receive amount
Transfer fee
FX rate
Markup
Delivery time
Cheapest payment method
$782.00
$0.00
0.7820
0.07%
Minutes - 24 hours
-
$779.80
$3.77
0.7827
-0.02%
Within a week
Bank transfer
$778.20
$0.00
0.7782
0.55%
Minutes - 24 hours
Bank transfer
$777.44
$0.00
0.7774
0.65%
Minutes - 24 hours
Bank transfer
$7,808.36
$24.43
0.7827
-0.02%
Within a week
Bank transfer
$7,805.75
$0.00
0.7806
0.25%
Minutes - 3 days
Bank transfer
$7,804.18
$0.00
0.7804
0.27%
Minutes - 24 hours
Bank transfer
$7,801.83
$0.00
0.7802
0.30%
Minutes - 24 hours
Bank transfer
SGD PHP
Mid Market Rate$1 = ₱48.9418$1 = ₱48.7885
Transfer Amount$1,000$10,000
1
Instarem
2
Revolut
3
Wise
4
OFX
1
Regency FX
2
TorFx
3
Wise
4
OFX
Receive amount
Transfer fee
FX rate
Markup
Delivery time
Cheapest payment method
₱48,901.40
$0.00
48.9014
0.08%
Minutes - 24 hours
-
₱48,843.49
$1.50
48.9169
0.05%
Within minutes
Bank transfer
₱48,717.99
$4.63
48.9446
-0.01%
Within minutes
Bank transfer
₱48,623.71
$0.00
48.6237
0.65%
Minutes - 24 hours
Bank transfer
₱486,567.90
$0.00
48.6568
0.27%
Minutes - 24 hours
Bank transfer
₱486,421.53
$0.00
48.6422
0.30%
Minutes - 24 hours
Bank transfer
₱486,379.64
$40.49
48.8357
-0.10%
Next day
Bank transfer
₱485,445.76
$0.00
48.5446
0.50%
Minutes - 24 hours
Bank transfer
SGD MYR
Mid Market Rate$1 = RM 3.1881$1 = RM 3.1881
Transfer Amount$1,000$10,000
1
Wise
2
OFX
3
Revolut
4
Remitly
1
Wise
2
Regency FX
3
OFX
4
Revolut
Receive amount
Transfer fee
FX rate
Markup
Delivery time
Cheapest payment method
RM 3,179.03
$3.08
3.1888
-0.02%
Within minutes
Bank transfer
RM 3,167.39
$0.00
3.1674
0.65%
Minutes - 24 hours
Bank transfer
RM 3,144.64
$11.50
3.1812
0.22%
Within minutes
Bank transfer
RM 3,115.10
$30.00
3.1151
2.32%
Minutes - 3 days
Credit card
RM 31,807.09
$25.53
3.1888
-0.02%
Within minutes
Bank transfer
RM 31,795.07
$0.00
3.1795
0.27%
Minutes - 24 hours
Bank transfer
RM 31,721.74
$0.00
3.1722
0.50%
Minutes - 24 hours
Bank transfer
RM 31,287.41
$165.00
3.1812
0.22%
Within minutes
Bank transfer
SGD INR
Mid Market Rate$1 = ₹74.9802$1 = ₹74.9802
Transfer Amount$1,000$10,000
1
Instarem
2
Wise
3
Currencies Direct
4
OFX
1
Regency FX
2
TorFx
3
Wise
4
OFX
Receive amount
Transfer fee
FX rate
Markup
Delivery time
Cheapest payment method
₹74,927.50
$0.00
74.9275
0.07%
Minutes - 24 hours
Bank transfer
₹74,670.37
$4.01
74.9710
0.01%
Within minutes
Bank transfer
₹74,575.20
$0.00
74.5752
0.54%
Minutes - 24 hours
Bank transfer
₹74,492.84
$0.00
74.4928
0.65%
Minutes - 24 hours
Bank transfer
₹747,777.65
$0.00
74.7778
0.27%
Minutes - 24 hours
Bank transfer
₹747,552.71
$0.00
74.7553
0.30%
Minutes - 24 hours
Bank transfer
₹747,190.22
$33.61
74.9710
0.01%
Next day
Bank transfer
₹746,053.11
$0.00
74.6053
0.50%
Minutes - 24 hours
Bank transfer
SGD IDR
Mid Market Rate$1 = Rp 14,018.3469$1 = Rp 14,016.0572
Transfer Amount$1,000$10,000
1
Wise
2
OFX
3
CurrencyFair
4
Revolut
1
Wise
2
Regency FX
3
OFX
4
Revolut
Receive amount
Transfer fee
FX rate
Markup
Delivery time
Cheapest payment method
Rp 13,972,395.00
$3.63
14023.3000
-0.04%
Within minutes
Bank transfer
Rp 13,927,227.61
$0.00
13927.2276
0.65%
Minutes - 24 hours
Bank transfer
Rp 13,925,000.00
$1.43
13945.0000
0.52%
Minutes - 24 hours
Bank transfer
Rp 13,838,715.90
$11.50
13999.7126
0.13%
Within minutes
Bank transfer
Rp 139,835,330.00
$27.86
14022.6000
-0.05%
Within minutes
Bank transfer
Rp 139,782,138.36
$0.00
13978.2138
0.27%
Minutes - 24 hours
Bank transfer
Rp 139,459,769.04
$0.00
13945.9769
0.50%
Minutes - 24 hours
Bank transfer
Rp 139,319,125.54
$65.00
14023.0625
-0.05%
Within minutes
Bank transfer
SGD GBP
Mid Market Rate$1 = £0.5906$1 = £0.5906
Transfer Amount$1,000$10,000
1
Wise
2
Currencies Direct
3
OFX
4
CurrencyFair
1
Wise
2
Key Currency
3
Regency FX
4
TorFx
Receive amount
Transfer fee
FX rate
Markup
Delivery time
Cheapest payment method
£589.16
$3.04
0.5910
-0.07%
Within minutes
Bank transfer
£586.80
$0.00
0.5868
0.64%
Minutes - 24 hours
Bank transfer
£586.73
$0.00
0.5867
0.65%
Minutes - 24 hours
Bank transfer
£584.90
$4.23
0.5874
0.54%
Minutes - 24 hours
Bank transfer
£5,895.01
$24.59
0.5910
-0.07%
Within minutes
Bank transfer
£5,890.92
$0.00
0.5891
0.25%
Minutes - 3 days
Bank transfer
£5,889.73
$0.00
0.5890
0.27%
Minutes - 24 hours
Bank transfer
£5,887.96
$0.00
0.5888
0.30%
Minutes - 24 hours
Bank transfer
SGD CNY
Mid Market Rate$1 = ¥5.2533$1 = ¥5.2533
Transfer Amount$1,000$10,000
1
Instarem
2
OFX
3
Wise
4
Remitly
1
Regency FX
2
TorFx
3
OFX
4
Xe
Receive amount
Transfer fee
FX rate
Markup
Delivery time
Cheapest payment method
¥5,249.60
$0.00
5.2496
0.07%
Minutes - 24 hours
-
¥5,219.18
$0.00
5.2192
0.65%
Minutes - 24 hours
Bank transfer
¥5,194.10
$11.38
5.2539
-0.01%
Within minutes
Bank transfer
¥5,129.50
$30.00
5.1295
2.39%
Minutes - 3 days
Credit card
¥52,391.46
$0.00
5.2391
0.27%
Minutes - 24 hours
Bank transfer
¥52,375.70
$0.00
5.2376
0.30%
Minutes - 24 hours
Bank transfer
¥52,270.63
$0.00
5.2271
0.50%
Minutes - 24 hours
Bank transfer
¥51,613.40
$0.00
5.1613
1.77%
Minutes - 24 hours
Bank transfer
SGD AUD
Mid Market Rate$1 = $1.1092$1 = $1.1092
Transfer Amount$1,000$10,000
1
Wise
2
Currencies Direct
3
CurrencyFair
4
OFX
1
Wise
2
Currencies Direct
3
CurrencyFair
4
Key Currency
Receive amount
Transfer fee
FX rate
Markup
Delivery time
Cheapest payment method
$1,111.41
$2.75
1.1145
-0.48%
Within minutes
Bank transfer
$1,107.20
$0.00
1.1072
0.18%
Minutes - 24 hours
Bank transfer
$1,103.30
$3.61
1.1073
0.17%
Minutes - 24 hours
Bank transfer
$1,101.98
$0.00
1.1020
0.65%
Minutes - 24 hours
Bank transfer
$11,122.61
$19.82
1.1145
-0.48%
Within minutes
Bank transfer
$11,072.00
$0.00
1.1072
0.18%
Minutes - 24 hours
Bank transfer
$11,069.00
$3.61
1.1073
0.17%
Minutes - 24 hours
Bank transfer
$11,064.14
$0.00
1.1064
0.25%
Minutes - 3 days
Bank transfer
Table updates weekly. All information comes directly from our comparisons, provider APIs, and manual rate collection.
Since SGD rates change all the time, this table shows the cheapest options right now to send from Singapore, while the list below covers companies that are generally competitive for different types of transfer.
Cheapest apps for sending money from Singapore
9.2
Wise
Fees
0.1% - 2.6%
Exchange Rate Markup
0%
Transfer Speed
Minutes - 24 hours
"Over 15 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
8.0
Instarem
Fees
$0 - $2
Exchange Rate Markup
0.3% - 1.9%
Transfer Speed
Minutes - 24 hours
"Most transfers are instant or same-day. Customers can earn rewards on every transaction."
8.8
Revolut
Fees
0.3% - 1%
Exchange Rate Markup
0.1% - 0.6%
Transfer Speed
Minutes - 5 days
"Revolut has 70+ million customers globally. You can hold up to 25+ currencies in the app and send money quickly in 25+ currencies to 140+ countries."
US Disclaimer: Revolut is not a bank. Banking services are provided by Lead Bank, Member FDIC. Fees may apply. See revolut.com/en-US/ for details.
8.5
OFX
Fees
None
Exchange Rate Markup
0.4% - 1.5%
Transfer Speed
Minutes - 24 hours
"OFX have been helping individuals and businesses send money for over 25 years. Transfer in 50+ currencies to 170+ countries, with 24/7 phone access to currency experts."
8.2
Remitly
Fees
None
Exchange Rate Markup
0.1% - 1.3%
Transfer Speed
Minutes - 3 days
"Remitly focuses on sending money to friends and family in Asia, Africa and South America. Wide coverage and well-suited to regular transfers home."
8.1
Western Union
Fees
None
Exchange Rate Markup
0.2% - 1.5%
Transfer Speed
1 - 5 days
Wise
Wise makes PayNow-funded transfers easy to price with its separate fee and mid-market rate.
Singapore residents can fund with PayNow, a linked bank account, debit card or Wise balance, but Singapore-issued credit cards cannot fund a transfer.
The transfer maximum can reach SGD2 million depending on funding, while card funding has a much lower SGD16,000 limit.
A bank app charging no transfer fee can still deliver less if its exchange rate is weaker than Wise’s rate after the fee.
I would fund through PayNow or my bank when that quote costs less than using a debit card for the same recipient.
Use another app when the recipient needs cash collection or a wallet that Wise does not support on the selected route.
The table shows Wise quotes for all eight destinations at both comparison amounts.
SGD
Currency pair
They get (after fees)
Transfer fee
FX rate
Markup
Delivery time
SGD / AUD
$1,111.41
$2.75
1.1145
-0.48%
Within minutes
SGD / CNY
¥5,194.10
$11.38
5.2539
-0.01%
Within minutes
SGD / EUR
€685.33
$2.62
0.6871
-0.02%
Within minutes
SGD / GBP
£589.16
$3.04
0.5910
-0.07%
Within minutes
SGD / IDR
Rp 13,972,395.00
$3.63
14023.3000
-0.04%
Within minutes
SGD / INR
₹74,670.37
$4.01
74.9710
0.01%
Within minutes
SGD / KHR
៛3,036,076.43
$43.90
3175.4800
0.25%
Within a week
SGD / MYR
RM 3,179.03
$3.08
3.1888
-0.02%
Within minutes
SGD / NGN
₦1,066,422.64
$4.98
1071.7600
-3.21%
Within minutes
SGD / PHP
₱48,609.59
$4.63
48.8357
-0.10%
Within minutes
SGD / THB
฿25,942.96
$7.31
26.1340
-0.07%
Within minutes
SGD / USD
$779.80
$3.77
0.7827
-0.02%
Within a week
Last updated at 26/09/2026
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Instarem
Instarem accepts Singapore-issued credit cards, though PayNow or bank funding may cost less.
Its Singapore app accepts PayNow, bank transfer, debit card and credit card, then pays supported recipients into their bank accounts.
PayNow funding has an SGD200,000 daily limit, while debit and credit card funding is capped at SGD20,000.
Instarem applies no service sending limit to bank transfers, but your bank, destination and customer checks can still restrict the payment.
Do not count card points or miles as savings unless your issuer awards them on this payment and their value exceeds every extra charge.
SingX is another local PayNow and bank-funded alternative, with a personal ceiling of SGD1 million subject to route and customer checks.
Use these SGD1,000 examples to compare the amount received after Instarem’s fee and exchange rate on several popular routes.
SGD
Currency pair
They get (after fees)
Transfer fee
FX rate
Markup
Delivery time
SGD / CNY
¥5,249.60
$0.00
5.2496
0.07%
Minutes - 24 hours
SGD / EUR
€686.50
$0.00
0.6865
0.07%
Minutes - 24 hours
SGD / IDR
Rp 13,702,875.00
$20.00
13982.5252
0.26%
Minutes - 24 hours
SGD / INR
₹74,927.50
$0.00
74.9275
0.07%
Minutes - 24 hours
SGD / PHP
₱48,794.20
$0.00
48.7942
-0.01%
Minutes - 24 hours
SGD / USD
$782.00
$0.00
0.7820
0.07%
Minutes - 24 hours
Last updated at 26/09/2026
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DBS Remit
DBS Remit works well for DBS or POSB customers sending supported local currencies.
DBS charges no transfer fee for eligible Remit payments and locks the displayed exchange rate before confirmation.
Zero transfer fee does not remove the exchange-rate cost, so compare the recipient amount with a specialist app for the same payment.
Preferential exchange rates apply automatically from SGD50,000, excluding Mainland China, which makes the threshold relevant for a larger transfer.
Eligible payments submitted before their cut-off may leave DBS the same day, while recipient-bank processing can extend final delivery.
An ordinary outward telegraphic transfer outside DBS Remit can add handling, cable and agent-bank charges, changing the app's apparent cost advantage.
Revolut
Revolut Standard suits customers exchanging up to S$5,000 monthly during market hours.
A 1% fair-usage charge applies above that allowance, with another 1% added when conversion occurs outside market hours.
The variable exchange rate and international-transfer fee remain separate costs, so the allowance does not make the overseas transfer free.
Singapore bank top-ups are free, while some card top-ups carry a charge that can alter the complete transfer cost.
After using the allowance, a further SGD1,000 conversion outside market hours adds SGD20 in exchange fees before any separate transfer charge.
This is what you will get with Revolut Standard when sending money abroad from Singapore:
For a larger payment, I would compare the complete Revolut quote with DBS Remit or OFX before paying those percentage charges.
OFX
OFX drops its SGD15 transfer fee on bank-funded payments from SGD10,000.
Below that threshold, the fixed fee weighs more heavily on a small transfer before considering OFX's exchange rate.
OFX accepts funding from the customer's bank account, with no cash, card, cheque or bank-draft option.
It imposes no company maximum, although the sending bank and customer checks can still limit a particular payment.
At SGD50,000 or more, compare OFX with the preferential DBS Remit rate, since neither company’s transfer-fee line settles the overall cost.
Recipient or intermediary banks may deduct charges, so an exact invoice payment needs the likely delivered amount checked before booking.
The table shows how OFX quotes change across the threshold for all eight selected currencies.
SGD
Currency pair
They get (after fees)
Transfer fee
FX rate
Markup
Delivery time
SGD / AUD
$1,101.98
$0.00
1.1020
0.65%
Minutes - 24 hours
SGD / CNY
¥5,219.18
$0.00
5.2192
0.65%
Minutes - 24 hours
SGD / EUR
€682.53
$0.00
0.6825
0.65%
Minutes - 24 hours
SGD / GBP
£586.73
$0.00
0.5867
0.65%
Minutes - 24 hours
SGD / IDR
Rp 13,927,227.61
$0.00
13927.2276
0.65%
Minutes - 24 hours
SGD / INR
₹74,492.84
$0.00
74.4928
0.65%
Minutes - 24 hours
SGD / MYR
RM 3,167.39
$0.00
3.1674
0.65%
Minutes - 24 hours
SGD / PHP
₱48,471.39
$0.00
48.4714
0.65%
Minutes - 24 hours
SGD / THB
฿25,947.26
$0.00
25.9473
0.65%
Minutes - 24 hours
SGD / TWD
$24,667.32
$0.00
24.6673
0.65%
Minutes - 24 hours
SGD / USD
$777.44
$0.00
0.7774
0.65%
Minutes - 24 hours
Last updated at 26/09/2026
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Remitly
Remitly is useful when your recipient needs cash pickup or a supported mobile wallet.
Singapore customers can fund with an eligible Visa or Mastercard debit or credit card, Apple Pay or Google Pay.
The recipient method depends on the destination, so select cash, wallet or bank delivery before judging the fee and exchange rate.
Its headline limit reaches SGD130,000 per transfer, but verification, destination and delivery method can reduce the amount available.
Promotional pricing can lower the first transfer, while repeat payments need the ongoing rate and fee assessed separately.
This is what you will get with Remitly when sending SGD abroad:
SGD
Currency pair
They get (after fees)
Transfer fee
FX rate
Markup
Delivery time
SGD / AUD
$1,088.20
$30.00
1.0882
1.91%
Minutes - 3 days
SGD / CNY
¥5,129.50
$30.00
5.1295
2.39%
Minutes - 3 days
SGD / EUR
€627.90
$30.00
0.6279
8.99%
Minutes - 3 days
SGD / GBP
£575.00
$30.00
0.5750
2.67%
Minutes - 3 days
SGD / IDR
Rp 13,772,500.00
$30.00
13772.5000
1.77%
Minutes - 3 days
SGD / INR
₹74,080.00
$30.00
74.0800
1.21%
Minutes - 3 days
SGD / KHR
៛2,948,530.00
$30.00
2948.5300
7.66%
Minutes - 3 days
SGD / MYR
RM 3,115.10
$30.00
3.1151
2.32%
Minutes - 3 days
SGD / NGN
₦1,044,330.00
$30.00
1044.3300
-0.61%
Minutes - 3 days
SGD / PHP
₱47,980.00
$30.00
47.9800
1.67%
Minutes - 3 days
SGD / USD
$758.20
$30.00
0.7582
3.16%
Minutes - 3 days
Last updated at 26/09/2026
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Compare card funding with Western Union for the identical payout, including any issuer charge that sits outside the remittance quote.
Western Union
Western Union covers cash payment in Singapore and cash collection overseas.
You can send through the app, website or an agent, including starting online and paying at a participating location.
Funding can include cash, bank account or card depending on channel, while delivery can include bank, wallet or cash by destination.
That flexibility can avoid a recipient's withdrawal or travel cost, even when a bank-deposit quote displays a lower fee.
Compare the exact channel and collection currency because funding choice, payout method and exchange rate can all change the recipient amount.
Cash collection also depends on identification, agent opening hours and recipient action, which can affect its practical value.
This is what you will get with Western Union if sending money online, so expect in-person to be a bit more expensive:
SGD
Currency pair
They get (after fees)
Transfer fee
FX rate
Markup
Delivery time
No results, please ensure you have currencies selected
Compare transfer apps with Singapore bank options
OCBC currently waives online cable, commission and commission-in-lieu fees, although exchange-rate costs and agent charges can remain.
The OCBC app's agent-fee estimate is indicative, with the final amount available in transaction history after processing.
For small payments, participating banks connect PayNow to India's UPI, Malaysia's DuitNow and Thailand's PromptPay.
For example, DBS limits these cross-border PayNow sends to SGD1,000 daily, with recipient-bank and identifier restrictions.
They can suit a small mobile-number or UPI payment, but they do not replace the SGD10,000 remittance choices above.
Match the funding method before comparing costs
A PayNow-funded Wise or Instarem quote should be compared with another low-cost bank-funded route, rather than a card-funded price.
Credit-card funding can introduce an app charge, issuer fee or cash-advance treatment that the recipient amount does not reveal.
If you pay cash at an agent, check that channel’s quote because it can differ from the same provider’s app-funded transfer.
For a fixed invoice, check intermediary deductions and whether the chosen route can deliver the required foreign-currency amount.
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