Netherlands is a country in north-western Europe, also known as Holland. Since 2002, EUR has been the official currency of Netherlands, following the phasing out of the nation’s original legal tender – the Dutch guilder – a transitional period which lasted 3 years. De Nederlandsche Bank (DNB) is the National Central Bank of the Netherlands, and it is their responsibility to supervise and oversee incoming transfers from overseas, including funds sent from Singapore.
The prevalence of the Euro means every international money transfer company will facilitate payments from SGD to EUR. We have found [NUMBER OF PROVIDERS] that service payments Singapore to Netherlands. The fastest provider is VertoFX . The cheapest provider we found is TransferWise at 0.0001% above the Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using TransferWise when transferring SGD to EUR.
This means that by using TransferWise for online money transfers to Netherlands from Singapore, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access TransferWise for any reason, our comparison engine has found Instarem and VertoFX also to be very good options when sending SGD – EUR.
TransferWise has been determined by our comparison engine to currently offer you the cheapest rates possible. Many customers are caught out by hidden fees and unexpected exchange rate mark-ups, so to avoid any disappointment at a later date, be sure to acquire all the relevant information before any funds are taken for payment.
When sending money from Singapore to Netherlands, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers.
Currently, VertoFX is the fastest way to send SGD – EUR. Typically these transfers should arrive with the recipient within 24 hours but it is important to consider delivery speeds are subject to daily cut-off times, office hours and public holidays. We recommend all customers review the terms and conditions in full before making a payment.
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer multiple options. You are likely to find the most common methods are bank transfers and card payments, but some providers also accept cash and some will even deliver funds straight to your recipient’s door.
When it comes to sending an international money transfer from Singapore to Netherlands you will need to provide the recipient’s full name, residential address, account details (the bank name, branch name and account number), email address and the reason for the transfer. It is crucial that these details are correct, as some money transfer providers and financial institutions do not provide a cancellation service once payment has been made.
To avoid high fees you can opt to use an online money transfer provider such as TransferWise to pay for your transfer to Netherlands.
With TransferWise you can send money online to Netherlands using your debit card. But before making a payment, make sure you understand all the processing fees in place.
Bank and wire transfers are the most common ways of sending money Netherlands as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use TransferWise to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
If you want to make an international transfer using wire transfer, you will need to know the SWIFT/BIC code of your recipient in Netherlands. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in Netherlands.
When sending money to Netherlands from Singapore using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee. In some cases, the intermediary and incoming transfer fees will be covered by the receiving bank or financial institution in Netherlands; this is something that should be clarified ahead of making payment.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as TransferWise, Instarem and VertoFX .
Before sending money to Netherlands from Singapore, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send SGD to EUR. After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in Netherlands. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in Netherlands, then they will usually need the following:
The amount of EUR you can receive from Singapore will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of EUR that can be received in Netherlands or sent from Singapore before making your transfer.
April is a journalist and Content Editor for MoneyTransfers.com. Over the last decade she has written for a range of online and print publications. Having lived overseas in Canada and Vietnam, April hopes to see more of the world as soon as possible, with Japan at the top of her travel list. She enjoys writing about forex trends and the future of banking.