Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Sending money from SINGAPORE to CHINA

Data collected on: Nov 22, 2023-Nov 30, 2023
SGD | USD
Payment instrument
Access point
Sending network coverage
Transfer speed
<em>Transfer Speed</em> has been standardized in six broad categories.
Receiving method
Exchange rate margin (%)
The exchange rate margin is the cost resulting from the fact that the firm applies a rate that is different from the market reference rate. The margin is the percentage difference between the market reference rate and the exchange rate actually applied to the transaction.
Total cost (%)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Total cost (SGD)Total cost (USD)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
BKK Forex
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
5.003.85
3.12
Percentage difference between market reference rate 5.38 and exchange rate charged 5.21
3.12
5.045.04
13.1010.08
DBS
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.0019.23
0.50
Percentage difference between market reference rate 0.75 and exchange rate charged 0.74
0.50
10.1210.12
26.3120.24
DBS Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
0.000.00
1.06
Percentage difference between market reference rate 5.33 and exchange rate charged 5.28
1.06
1.061.06
2.762.12
DBS Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Call Center
Sending network coverage
High
Receiving method
High
0.000.00
1.07
Percentage difference between market reference rate 5.33 and exchange rate charged 5.28
1.07
1.071.07
2.782.14
DBS Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
0.000.00
1.07
Percentage difference between market reference rate 5.33 and exchange rate charged 5.28
1.07
1.071.07
2.782.14
Golden Dragon
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
Low
Receiving method
High
18.0013.85
1.02
Percentage difference between market reference rate 5.35 and exchange rate charged 5.30
1.02
7.947.94
20.6415.88
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
3.002.31
3.49
Percentage difference between market reference rate 5.36 and exchange rate charged 5.17
3.49
4.644.64
12.069.28
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
3.002.31
2.94
Percentage difference between market reference rate 5.34 and exchange rate charged 5.18
2.94
4.094.09
10.638.18
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
10.808.31
2.94
Percentage difference between market reference rate 5.34 and exchange rate charged 5.18
2.94
7.097.09
18.4314.18
Remitly
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
3.993.07
1.54
Percentage difference between market reference rate 5.34 and exchange rate charged 5.25
1.54
3.073.07
7.986.14
Remitly
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
11.799.07
1.54
Percentage difference between market reference rate 5.34 and exchange rate charged 5.25
1.54
6.076.07
15.7812.14
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
3.002.31
1.49
Percentage difference between market reference rate 5.35 and exchange rate charged 5.27
1.49
2.642.64
6.865.28
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
3.002.31
1.49
Percentage difference between market reference rate 5.35 and exchange rate charged 5.27
1.49
2.642.64
6.865.28
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
2.001.54
3.67
Percentage difference between market reference rate 5.35 and exchange rate charged 5.15
3.67
4.444.44
11.548.88
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
2.001.54
3.67
Percentage difference between market reference rate 5.35 and exchange rate charged 5.15
3.67
4.444.44
11.548.88
Wise
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
3.312.55
0.00
Percentage difference between market reference rate 5.37 and exchange rate charged 5.37
0.00
1.271.27
3.302.54
Zhongguo Remittance
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
Low
Receiving method
High
18.0013.85
-0.39
Percentage difference between market reference rate 5.33 and exchange rate charged 5.35
-0.39
6.536.53
16.9813.06
Total Average Fourth Quarter 2023
4.314.31
Total Average Third Quarter 2023
4.164.16
Total Average
Fee
6.585.06
Exchange Rate Margin (%)
1.781.78
Total Cost Percent (%)
4.314.31
Total Cost (SGD) Total Cost (USD)
11.208.61
Non-Transparent records
Bank account transfer Credit Card Debit card Cash
Less than one hour Same day Next day 3-5 days
Bank account Cash Mobile wallet
Payment instrument
Access point
Sending network coverage
Receiving method
BKK Forex
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
5.003.88
3.12
Percentage difference between market reference rate 5.38 and exchange rate charged 5.21
3.12
3.903.90
25.1619.50
DBS
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.0019.38
0.50
Percentage difference between market reference rate 0.75 and exchange rate charged 0.74
0.50
4.384.38
28.2521.90
DBS Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
0.000.00
1.06
Percentage difference between market reference rate 5.33 and exchange rate charged 5.28
1.06
1.061.06
6.845.30
DBS Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Call Center
Sending network coverage
High
Receiving method
High
0.000.00
1.07
Percentage difference between market reference rate 5.33 and exchange rate charged 5.28
1.07
1.071.07
6.905.35
DBS Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
High
0.000.00
1.07
Percentage difference between market reference rate 5.33 and exchange rate charged 5.28
1.07
1.071.07
6.905.35
Golden Dragon
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
Low
Receiving method
High
18.0013.95
1.02
Percentage difference between market reference rate 5.35 and exchange rate charged 5.30
1.02
3.813.81
24.5719.05
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
3.002.33
3.49
Percentage difference between market reference rate 5.36 and exchange rate charged 5.17
3.49
3.963.96
25.5419.80
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
3.002.33
2.94
Percentage difference between market reference rate 5.34 and exchange rate charged 5.18
2.94
3.413.41
21.9917.05
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
22.3517.33
2.94
Percentage difference between market reference rate 5.34 and exchange rate charged 5.18
2.94
6.416.41
41.3432.05
Remitly
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
3.993.09
1.54
Percentage difference between market reference rate 5.34 and exchange rate charged 5.25
1.54
2.162.16
13.9310.80
Remitly
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
23.3418.09
1.54
Percentage difference between market reference rate 5.34 and exchange rate charged 5.25
1.54
5.165.16
33.2825.80
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
4.003.10
1.49
Percentage difference between market reference rate 5.35 and exchange rate charged 5.27
1.49
2.112.11
13.6110.55
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
4.003.10
1.49
Percentage difference between market reference rate 5.35 and exchange rate charged 5.27
1.49
2.112.11
13.6110.55
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
2.001.55
3.67
Percentage difference between market reference rate 5.35 and exchange rate charged 5.15
3.67
3.983.98
25.6719.90
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
2.001.55
3.67
Percentage difference between market reference rate 5.35 and exchange rate charged 5.15
3.67
3.983.98
25.6719.90
Wise
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
7.555.85
0.00
Percentage difference between market reference rate 5.37 and exchange rate charged 5.37
0.00
1.171.17
7.555.85
Zhongguo Remittance
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
Low
Receiving method
High
18.0013.95
-0.39
Percentage difference between market reference rate 5.33 and exchange rate charged 5.35
-0.39
2.402.40
15.4812.00
Total Average Fourth Quarter 2023
3.073.07
Total Average Third Quarter 2023
3.203.20
Total Average
Fee
8.316.44
Exchange Rate Margin (%)
1.781.78
Total Cost Percent (%)
3.073.07
Total Cost (SGD) Total Cost (USD)
19.7815.33
Non-Transparent records
Bank account transfer Credit Card Debit card Cash
Less than one hour Same day Next day 3-5 days
Bank account Cash Mobile wallet