Easiest Way To Receive Money From Abroad in Singapore

Ways to receive money from abroad in Singapore

Receive SGD into your existing bank account

For family money you will spend in Singapore, local SGD delivery is my first option to compare with the sender.

Companies such as Wise, Remitly and Instarem support Singapore-bound transfers on selected routes, with availability determined by where the sender lives and pays.

You normally receive the deposit into your own bank account without opening a profile with the sender’s transfer company.

Give the sender your account-holder name, bank name and account number, plus any bank code or contact details their service requests.

Copy the details from your banking app or statement, then confirm that the quote specifies an SGD bank deposit.

This avoids expecting US dollars simply because the sender funded the payment from a US dollar account.

The final domestic bank credit and the international payment are different stages, so a fast local rail does not guarantee instant overseas delivery.

Receive a wire through DBS, POSB or another bank

A bank wire needs your receiving bank’s international instructions, rather than the details used for an ordinary local transfer.

For DBS and POSB accounts, DBS specifies your name as held by the bank, account number, bank name, bank address and SWIFT code DBSSSGSG.

DBS and POSB do not use an IBAN, routing number or sort code for receiving overseas payments.

Get the current bank address and any currency-specific correspondent instructions from DBS before the sender completes their wire form.

Other Singapore banks have their own SWIFT details, so do not copy DBS instructions into an OCBC or UOB payment.

If the sender’s form insists on an unfamiliar field, ask their bank how to enter Singapore beneficiary details before submitting it.

An example from BDO in the Philippines to DBS

BDO’s online wire service allows a sender to remit from a BDO US dollar savings account to a foreign bank account.

For a USD payment to DBS, you would provide DBS receiving instructions for an account that can accept and retain USD.

The sender enters the beneficiary and bank details, selects the payment purpose, and checks who pays the remittance charges.

BDO publishes a three-to-five banking-day delivery window when the details are correct, with its noon cutoff affecting the first processing day.

This is a USD wire through BDO’s website, so do not assume the same steps apply to a peso-funded mobile transfer.

Our guide to sending money from the Philippines to Singapore covers the wider choice of funding and delivery methods.

Receive through a supported cross-border PayNow link

PayNow can receive eligible cross-border payments through its links with Malaysia’s DuitNow, Thailand’s PromptPay and India’s UPI.

DBS describes incoming transfers using your registered Singapore mobile number, while the overseas sender uses the participating service available to them.

Check that your account and mobile number are registered correctly, and that both institutions support the specific cross-border link.

The sender should confirm the displayed recipient name, exchange rate, SGD receiving amount and route limit before paying.

A merchant QR payment connection is different from a person-to-person remittance, so a supported shopping QR does not establish receiving eligibility.

I'd say compare this option for a small eligible payment from a neighbouring market, especially when both people already use participating banks.

Keep the money in a foreign currency

If you will spend or reinvest the same currency later, a matching foreign-currency account can avoid converting the receipt immediately.

DBS My Account and other eligible DBS multicurrency accounts support SGD plus twelve foreign currencies, including USD, GBP, EUR and AUD.

DBS says foreign currency sent to a non-multicurrency account is automatically converted into SGD, which defeats a plan to retain that currency.

Confirm the receiving currency, account capability and incoming wire charges before asking the payer to send without conversion.

Our best multi-currency accounts in Singapore guide compares the accounts, while your chosen bank provides the actual receiving instructions.

Wise offers another route for supported foreign-currency receipts, using the account details and incoming payment types available in your verified profile.

Ask whether the payer will send a domestic payment in that currency or an international SWIFT payment, because the receiving charges differ.

Wise charges for incoming SWIFT payments, while most domestic receiving methods are free apart from exceptions such as US domestic wires.

Its Singapore personal-account holding limit is S$20,000 across cash balances in all currencies, rather than a separate allowance for each currency.

An external account can receive excess balances automatically, but conversion fees apply if its currency differs from the money swept out.

I'd say arrange that account before a large receipt, especially if keeping USD is the reason for choosing a foreign-currency balance.

Collect cash in Singapore

Western Union supports cash pickup in Singapore, with the sender choosing that delivery method when arranging the transfer.

Bring a government-issued photo ID and the sender’s details, including the Money Transfer Control Number, to a participating agent.

Your identification name should match the transfer, and you should check that the money is available before travelling to collect it.

The local identification guidance gives valid NRIC and driving licence examples, so confirm accepted documents with the agent if yours differs.

Cash collection avoids needing a receiving bank account, although the sender’s fee and exchange rate still affect the payment’s value.

I'd say consider it when cash access solves the immediate problem, then check collection hours and any additional verification requirements.

Receive through PayPal or get paid for work

PayPal lets a payer send money to your email address or mobile number, with a confirmed account needed to accept the payment.

You can then use the available balance or withdraw through a supported bank or card method shown in your account.

Check the payment’s commercial status, currency conversion and withdrawal cost before agreeing to receive an invoice payment this way.

For salary, freelance work or business receipts, confirm that the account and payment service permit your particular type of payment.

For company invoices, use an eligible business account and confirm the receiving instructions with the service before sharing them with clients.

Our business money transfers guide helps compare services when you need to receive payments for an eligible business.

What does it cost to receive money in Singapore?

Compare the SGD you receive after the sender’s fee, exchange-rate difference and any deductions charged along the receiving route.

For local SGD payout, ask the sender to compare the same funding amount and bank delivery method across available companies.

The inward comparison below shows the original transfer amounts, so you can choose the sender’s market and inspect the quoted receiving value.

Last updated at 16/10/2026

MYR SGD

Mid Market Rate RM 1 = $0.3137

Transfer Amount RM 4,000

1

Wise

2

Instarem

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

RM 4,000.00

$1,244.75

RM 31.36

0.3136

0.04%

Within minutes

Visit

RM 4,000.00

$1,241.46

RM 40.00

0.3135

0.07%

Minutes - 24 hours

Visit

PHP SGD

Mid Market Rate ₱1 = $0.0203

Transfer Amount ₱45,000

1

Wise

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

₱45,000.00

$911.42

₱175.32

0.0203

0.14%

Within minutes

Visit

USD SGD

Mid Market Rate $1 = $1.2812

Transfer Amount $800

1

Remitly

2

Revolut

3

Currencies Direct

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

$800.00

$1,026.24

$0.00

1.2828

-0.12%

Within minutes

Visit

$800.00

$1,021.77

$1.20

1.2791

0.17%

Within minutes

Visit

$800.00

$1,019.92

$0.00

1.2749

0.50%

Minutes - 24 hours

Visit

GBP SGD

Mid Market Rate £1 = $1.7038

Transfer Amount £650

1

Revolut

2

Instarem

3

Remitly

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

£650.00

$1,104.03

£0.80

1.7006

0.19%

Within minutes

Visit

£650.00

$1,103.31

£0.00

1.6974

0.38%

Minutes - 24 hours

Visit

£650.00

$1,103.31

£0.00

1.6974

0.38%

Within a week

Visit

AUD SGD

Mid Market Rate $1 = $0.8895

Transfer Amount $1,200

1

Instarem

2

Revolut

3

Remitly

Transfer amount

They get (after fees)

Transfer fees

FX Rate

Markup

Delivery time

$1,200.00

$1,067.28

$0.00

0.8894

0.01%

Minutes - 24 hours

Visit

$1,200.00

$1,065.03

$1.80

0.8889

0.07%

Within minutes

Visit

$1,200.00

$1,064.28

$0.00

0.8869

0.30%

Within a week

Visit

International wires can also attract an incoming bank fee, which is separate from the sender’s advertised transfer charge.

DBS lists S$10 for inward funds credited to SGD or foreign-currency current accounts, with a waiver for Treasures customers.

OCBC’s personal pricing guide also lists S$10 for inward overseas transfers credited to SGD or foreign-currency accounts, while time-deposit receipt is free.

Those bank charges are not a universal fee for every overseas service’s local SGD payout, so check the actual payment route.

Intermediary deductions can reduce a wire before it reaches your bank, especially when the sender leaves receiving-side charges to you.

If you must receive an exact invoice or tuition amount, agree who pays the charges before the payment is sent.

How quickly will the money arrive?

Use the sender’s delivery estimate for your exact route, payment method and funding choice rather than the receiving bank’s local processing speed.

Supported cross-border PayNow payments can arrive in real time, while an international bank wire may take several banking days.

BDO’s published three-to-five banking-day wire window is one example, rather than a promised delivery time for every Singapore receipt.

Cash becomes collectible when the transfer service confirms availability, and you still need an open agent location to complete collection.

Bank holidays, incorrect details, incomplete funding and requests for payment-purpose documents can extend the estimate shown when the sender books.

Limits, reporting and tax

Check the sender’s service limit, your receiving account’s currency rules and any payment-account balance limit before arranging a larger payment.

Keep records showing where the money came from and why it was sent, including invoices, salary documents or family-transfer correspondence.

Singapore’s cash movement declaration applies when physical currency and bearer negotiable instruments exceeding S$20,000 cross the border.

That physical-cash threshold is separate from an electronic bank transfer and should not be treated as its receiving limit.

For tax, IRAS generally exempts overseas income received in Singapore by individuals, but the exceptions depend on how the income was earned.

Income from overseas work incidental to Singapore employment, or work performed in Singapore for a foreign employer, can remain taxable.

Foreign income received through a Singapore partnership and overseas activities incidental to a Singapore business also require separate assessment.

Do not assume an overseas payer makes Singapore-based freelance work foreign-sourced, or that a payment description settles its tax treatment.

Identify the payment’s real purpose and retain the supporting records, then check the applicable IRAS income category when filing your return.

How to receive an overseas payment

What if the money has not arrived?

Ask the sender to confirm that their payment was funded and released, then check your account number or registered mobile number together.

For a wire, request the sending bank’s SWIFT confirmation or tracking details and give them to your receiving bank.

The sender should ask their bank or transfer company to trace the payment once the expected delivery window has passed.

For PayNow-linked receipt, check that the mobile number reaches the intended account and that the sender used the correct cross-border service.

For cash collection, check the transfer status and matching identification details before asking the agent to investigate availability.

Compare the overseas sender’s cost of paying into Singapore before choosing the account and currency for your next receipt.