Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Transfer money

Sending money from SINGAPORE to CHINA

Data collected on: Oct 27, 2020
SGD | USD
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
<em>Transfer Speed</em> has been standardized in six broad categories.
Receiving method
Disbursing network coverage
Fee
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)sort descendingTotal cost (USD)sort descending
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Firm
DBS Remit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch, Call Center, Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
0.000.00
Exchange rate margin (%)
0.57
Percentage difference between market reference rate 4.94 and exchange rate charged 4.910.57
Total cost (%)
0.570.57
Total cost (SGD)sort descendingTotal cost (USD)sort descending
1.481.14
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
3.002.31
Exchange rate margin (%)
0.77
Percentage difference between market reference rate 4.94 and exchange rate charged 4.900.77
Total cost (%)
1.921.92
Total cost (SGD)sort descendingTotal cost (USD)sort descending
4.993.84
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
0.000.00
Exchange rate margin (%)
2.19
Percentage difference between market reference rate 4.94 and exchange rate charged 4.832.19
Total cost (%)
2.192.19
Total cost (SGD)sort descendingTotal cost (USD)sort descending
5.694.38
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
3.002.31
Exchange rate margin (%)
4.62
Percentage difference between market reference rate 4.94 and exchange rate charged 4.714.62
Total cost (%)
5.775.77
Total cost (SGD)sort descendingTotal cost (USD)sort descending
15.0011.54
Firm
BKK Forex
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
15.0011.54
Exchange rate margin (%)
0.37
Percentage difference between market reference rate 4.94 and exchange rate charged 4.920.37
Total cost (%)
6.146.14
Total cost (SGD)sort descendingTotal cost (USD)sort descending
15.9612.28
Firm
GPL Remittance
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
15.0011.54
Exchange rate margin (%)
0.57
Percentage difference between market reference rate 4.94 and exchange rate charged 4.910.57
Total cost (%)
6.346.34
Total cost (SGD)sort descendingTotal cost (USD)sort descending
16.4812.68
Firm
GPL Remittance
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
15.0011.54
Exchange rate margin (%)
0.57
Percentage difference between market reference rate 4.94 and exchange rate charged 4.910.57
Total cost (%)
6.346.34
Total cost (SGD)sort descendingTotal cost (USD)sort descending
16.4812.68
Firm
Thaithanawat
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
16.0012.31
Exchange rate margin (%)
0.37
Percentage difference between market reference rate 4.94 and exchange rate charged 4.920.37
Total cost (%)
6.526.52
Total cost (SGD)sort descendingTotal cost (USD)sort descending
16.9513.04
Firm
Zhongguo Remittance
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
17.0013.08
Exchange rate margin (%)
0.37
Percentage difference between market reference rate 4.94 and exchange rate charged 4.920.37
Total cost (%)
6.906.90
Total cost (SGD)sort descendingTotal cost (USD)sort descending
17.9413.80
Firm
Golden Dragon
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
18.0013.85
Exchange rate margin (%)
0.37
Percentage difference between market reference rate 4.94 and exchange rate charged 4.920.37
Total cost (%)
7.297.29
Total cost (SGD)sort descendingTotal cost (USD)sort descending
18.9514.58
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
20.0015.38
Exchange rate margin (%)
0.77
Percentage difference between market reference rate 4.94 and exchange rate charged 4.900.77
Total cost (%)
8.468.46
Total cost (SGD)sort descendingTotal cost (USD)sort descending
22.0016.92
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
20.0015.38
Exchange rate margin (%)
1.77
Percentage difference between market reference rate 0.74 and exchange rate charged 0.721.77
Total cost (%)
9.469.46
Total cost (SGD)sort descendingTotal cost (USD)sort descending
24.6018.92
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
17.0013.08
Exchange rate margin (%)
4.62
Percentage difference between market reference rate 4.94 and exchange rate charged 4.714.62
Total cost (%)
11.1611.16
Total cost (SGD)sort descendingTotal cost (USD)sort descending
29.0222.32
Total Average Fourth Quarter 2020
6.086.08
Total Average Third Quarter 2020
6.316.31
Total Average
Fee
12.239.41
Exchange Rate Margin (%)
1.381.38
Total Cost Percent (%)
6.086.08
Total Cost (SGD) Total Cost (USD)
15.8112.16
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour Same day Next day 2 days 3-5 days
Bank account Cash Own/partner bank account
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
Receiving method
Disbursing network coverage
Fee
Exchange rate margin (%)
Total cost (%)
Total cost (SGD)sort descendingTotal cost (USD)sort descending
Firm
DBS Remit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch, Call Center, Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
0.000.00
Exchange rate margin (%)
0.57
Percentage difference between market reference rate 4.94 and exchange rate charged 4.910.57
Total cost (%)
0.570.57
Total cost (SGD)sort descendingTotal cost (USD)sort descending
3.682.85
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
0.000.00
Exchange rate margin (%)
0.77
Percentage difference between market reference rate 4.94 and exchange rate charged 4.900.77
Total cost (%)
0.770.77
Total cost (SGD)sort descendingTotal cost (USD)sort descending
4.973.85
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
4.003.10
Exchange rate margin (%)
0.77
Percentage difference between market reference rate 4.94 and exchange rate charged 4.900.77
Total cost (%)
1.391.39
Total cost (SGD)sort descendingTotal cost (USD)sort descending
8.976.95
Firm
BKK Forex
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
15.0011.63
Exchange rate margin (%)
0.37
Percentage difference between market reference rate 4.94 and exchange rate charged 4.920.37
Total cost (%)
2.692.69
Total cost (SGD)sort descendingTotal cost (USD)sort descending
17.3513.45
Firm
Thaithanawat
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
16.0012.40
Exchange rate margin (%)
0.37
Percentage difference between market reference rate 4.94 and exchange rate charged 4.920.37
Total cost (%)
2.852.85
Total cost (SGD)sort descendingTotal cost (USD)sort descending
18.3814.25
Firm
GPL Remittance
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
15.0011.63
Exchange rate margin (%)
0.57
Percentage difference between market reference rate 4.94 and exchange rate charged 4.910.57
Total cost (%)
2.892.89
Total cost (SGD)sort descendingTotal cost (USD)sort descending
18.6414.45
Firm
GPL Remittance
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
15.0011.63
Exchange rate margin (%)
0.57
Percentage difference between market reference rate 4.94 and exchange rate charged 4.910.57
Total cost (%)
2.892.89
Total cost (SGD)sort descendingTotal cost (USD)sort descending
18.6414.45
Firm
Zhongguo Remittance
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
17.0013.18
Exchange rate margin (%)
0.37
Percentage difference between market reference rate 4.94 and exchange rate charged 4.920.37
Total cost (%)
3.003.00
Total cost (SGD)sort descendingTotal cost (USD)sort descending
19.3515.00
Firm
Golden Dragon
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
18.0013.95
Exchange rate margin (%)
0.37
Percentage difference between market reference rate 4.94 and exchange rate charged 4.920.37
Total cost (%)
3.163.16
Total cost (SGD)sort descendingTotal cost (USD)sort descending
20.3815.80
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
20.0015.50
Exchange rate margin (%)
0.77
Percentage difference between market reference rate 4.94 and exchange rate charged 4.900.77
Total cost (%)
3.873.87
Total cost (SGD)sort descendingTotal cost (USD)sort descending
24.9619.35
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
20.0015.50
Exchange rate margin (%)
1.77
Percentage difference between market reference rate 0.74 and exchange rate charged 0.721.77
Total cost (%)
4.874.87
Total cost (SGD)sort descendingTotal cost (USD)sort descending
31.4124.35
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
3.002.33
Exchange rate margin (%)
4.62
Percentage difference between market reference rate 4.94 and exchange rate charged 4.714.62
Total cost (%)
5.085.08
Total cost (SGD)sort descendingTotal cost (USD)sort descending
32.7725.40
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
17.0013.18
Exchange rate margin (%)
4.62
Percentage difference between market reference rate 4.94 and exchange rate charged 4.714.62
Total cost (%)
7.257.25
Total cost (SGD)sort descendingTotal cost (USD)sort descending
46.7636.25
Total Average Fourth Quarter 2020
3.183.18
Total Average Third Quarter 2020
3.513.51
Total Average
Fee
12.319.54
Exchange Rate Margin (%)
1.271.27
Total Cost Percent (%)
3.183.18
Total Cost (SGD) Total Cost (USD)
20.4815.88
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour Same day Next day 2 days 3-5 days
Bank account Cash Own/partner bank account
Least Costly Corridors To China
Least Costly Corridors From Singapore
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