What are the Top 3 Banks in [COUNTRY_TO_NAME]?

Singapore’s banking sector is made of a triopoly of 3 of the biggest lenders: Developmental Bank of Singapore (DBS), Overseas-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB). Of these three banks, DBS is the largest, not only in Singapore but in the whole of South-East Asia. Before sending money to a bank in Singapore it is important to consider the different transfer fees for receiving funds from overseas applied by each bank; for example, DBS charges a fixed fee of $10 SGD. If you are visiting or moving to Asia for an extended period of time we recommend you check out our guide to the Top 30 Asia Expat Blogs ; these blogs are packed with insightful and invaluable information about managing money overseas, among other subjects.

Is [CURRENCY_TO] the only currency accepted in [COUNTRY_TO_NAME]?

Due to Singapore’s status as an international business hub, with a thriving manufacturing industry and growing expat population, USD, AUD, JPY and GBP and Pounds Sterling are also accepted at major shopping centres and businesses across the city-state. In addition to these international currencies, the reciprocal arrangement with Brunei means BND is also an accepted local currency. Having said this, we advise customers sending funds to Singapore to use SGD to avoid currency exchange charges later down the line. As SGD is a widely available currency – one of the top 10 most traded currencies in the world – all leading remittance service providers will provide SGD transfers.

Send Money From Japan to Singapore | Transfer JPY to SGD

Q: I’m moving to [COUNTRY_TO_NAME]: do I need to open a local bank account or is it easier to transfer money as and when I need it?

We would recommend that everyone should consider their international financial obligations when headed overseas for an extended period of time (3 months or more). Although a local bank is likely to come in handy, especially if you are being paid in SGD, if the account is going to be predominately used to transfer money between Singapore and Japan we encourage you to consider the bank charges for international transfers before committing to a new account. Traditional banking is no longer the only way to go: many of the best challenger banks on the market offer fantastic, flexible travel perks for private or corporate clients with cross-border financial requirements. This being said, the specialist services offered by money transfer companies simply cannot be beat when making regular overseas payments: check out our reviews of each company here .

Filter

Amount

1000

JPY

SGD

Amount Received

By Bank Transfer

12.01

SGD

Fees: ¥150

Rate: 0.01201

Payment Options

Speed

Debit Card

Minutes

Credit Card

Minutes

Bank Transfer

Minutes

Key Features

First 3 Transfers Free - use the code 3FREE

Cash pickup to over 170,000 locations

90% transfers completed in minutes

No domestic transfers

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Current Mid-Market Rate: 1 JPY = 0.012202 SGD

* Some rates may be indicative.

JPY to SGD

Singapore is a city-state in South-East Asia best known for its reputation as the global business hub of the Asia Pacific region. Compared to its neighbours Malaysia and Indonesia, Singapore is tiny; made up of 60 small islets and one larger, diamond-shaped main island. The main island of Singapore covers 728.3 km², approximately 0.01% the size of the United States.

Singapore’s official currency is SGD and has been since 1965, following the breakdown of Malaysia and Brunei’s monetary union. However, the Currency Interchangeability Agreement of 1967 established a reciprocal agreement between the countries whereby the Brunei dollar became interchangeable with the Singapore dollar, accepted as “customary tender”. The same rules apply when using SGD in Brunei.

With one of the most stable economies in the world, the SGD is one of the best-performing currencies and the currency’s highest performances to date were recorded after the financial crisis. As a thriving business centre with a stable housing market, Singapore has become a popular destination for offshore investors and millions of international money transfers are sent to the country every year.

Choosing the best service provider

When considering how to send money Singapore from Japan there are some key aspects of the transfer to consider.

The cheapest provider we found is WorldRemit at % Above Mid-Market Rate.

If you’re looking for the best combination of price, speed, and reliability we recommend using WorldRemit when transferring JPY to SGD.

This means that by using WorldRemit for online money transfers to Singapore from Japan, 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 WorldRemit for any reason, our comparison engine has found also to be very good options when sending JPY – SGD.

This recommendation was updated one minute ago.

The cheapest way to send money from Japan to Singapore

In order to avoid high fees, you should consider the cheapest way to send from Japan to Singapore.

WorldRemit has been determined by our comparison engine to be currently offering you the cheapest rates possible.

Get the Best Rate and Sign Up for Rate Alerts Japan to Singapore

The fastest way to send money from Japan to Singapore

When sending money from Japan to Singapore, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers. Currently, WorldRemit is the fastest way to send JPY – SGD.

What payment methods are available when sending money from Japan to Singapore?

Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.

Sending money to Singapore from Japan using credit card

To avoid high fees you can opt to use an online money transfer provider such as WorldRemit to pay for your transfer to Singapore.

Sending money to Singapore from Japan using a debit card

With WorldRemit you can send money online to Singapore using your debit card. But before making a payment, make sure you understand all the processing fees in place.

Using a wire transfer to send money from Japan to Singapore

Bank and wire transfers are the most common ways of sending money Singapore 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 WorldRemit 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.

When sending money to Singapore from Japan using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.

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 WorldRemit.

Considerations for a JPY – SGD Currency Transfer

Before sending money to Singapore from Japan, you should consider the following:

The amount you want to transfer: It is likely that the more money you send to Singapore the more value you will get and more SGD the recipient will receive. This is because any flat fee charged ends up as a smaller percentage of your transfer amount, and also because many providers allow you to negotiate a better exchange rate margin if sending large amounts.
The JPY – SGD exchange rate margin: Money transfer providers charge a small percentage on top of the mid-market exchange rates in order to generate revenue. Current mid market rate is 0.012202 and the lowest exchange rate margin is currently offered by WorldRemit at % above the mid market rate.
Hidden fees & charges: Before sending money to Singapore, make sure the provider you are using doesn’t charge any hidden fees. Our reviews of the top ranked providers WorldRemit, and will give insight here.

How to send money from Japan to Singapore at the best rate?

This one’s easy. Simply use our comparison table above to find the best provider to send JPY to SGD.

After that it’s just a process of making your transfer via the following steps:

Click “Visit Site” inside our comparison table
Register for an account if required
Input how much you are willing to send
Fund your transfer
Receive & save an email confirming your transfer

How to receive transfers from JPY to SGD in Singapore?

Your recipient has a few methods available to receive your money in Singapore. These will vary between providers, but it is possible to find services that will:

Deposit SGD directly into a bank account
Enable the recipient to pick up cash a specific locations across Singapore
Deliver money directly to their door
Send SGD to your recipient’s mobile wallet

If your recipient is going to collect or have the money delivered to them in Singapore, then they will usually need the following:

A government issued I.D document such as passport, drivers license or Singapore‘s National Registration Identity Card (NRIC)
The money transfer reference number
Senders details and the amount of money sent

How much money can be transferred from Japan to Singapore?

However, the amount of SGD you can receive from Japan 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 SGD that can be received in Singapore or sent from Japan before making your transfer.

What are the Top 3 Banks in Singapore?

Is SGD the only currency accepted in Singapore?

I’m moving to Singapore: do I need to open a local bank account or is it easier to transfer money as and when I need it?