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Transfer money

Sending money from SINGAPORE to SRI LANKA

Data collected on: Feb 08, 2020
SGD | USD
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
InstaReM
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
0.650.50
Exchange rate margin (%)
0.05
Percentage difference between market reference rate 130.59 and exchange rate charged 130.530.05
Total cost (%)
0.300.30
Total cost (SGD)sort descendingTotal cost (USD)sort descending
0.780.60
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
0.990.76
Exchange rate margin (%)
0.70
Percentage difference between market reference rate 130.59 and exchange rate charged 129.670.70
Total cost (%)
1.081.08
Total cost (SGD)sort descendingTotal cost (USD)sort descending
2.812.16
Firm
Transferwise
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
3.492.68
Exchange rate margin (%)
-0.07
Percentage difference between market reference rate 130.59 and exchange rate charged 130.68-0.07
Total cost (%)
1.271.27
Total cost (SGD)sort descendingTotal cost (USD)sort descending
3.302.54
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
3.002.31
Exchange rate margin (%)
0.75
Percentage difference between market reference rate 130.59 and exchange rate charged 129.620.75
Total cost (%)
1.901.90
Total cost (SGD)sort descendingTotal cost (USD)sort descending
4.943.80
Firm
M1 Remit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
4.003.08
Exchange rate margin (%)
0.50
Percentage difference between market reference rate 130.59 and exchange rate charged 129.930.50
Total cost (%)
2.042.04
Total cost (SGD)sort descendingTotal cost (USD)sort descending
5.304.08
Firm
Sir Money Changer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Agent
Disbursing network coverage
Medium
Fee
5.003.85
Exchange rate margin (%)
0.60
Percentage difference between market reference rate 130.59 and exchange rate charged 129.800.60
Total cost (%)
2.522.52
Total cost (SGD)sort descendingTotal cost (USD)sort descending
6.555.04
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
5.003.85
Exchange rate margin (%)
0.67
Percentage difference between market reference rate 130.59 and exchange rate charged 129.710.67
Total cost (%)
2.592.59
Total cost (SGD)sort descendingTotal cost (USD)sort descending
6.735.18
Firm
Xpress Money
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
5.003.85
Exchange rate margin (%)
0.69
Percentage difference between market reference rate 130.59 and exchange rate charged 129.690.69
Total cost (%)
2.612.61
Total cost (SGD)sort descendingTotal cost (USD)sort descending
6.795.22
Firm
Ameer Tech Remittance (MoneyGram)
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
7.005.38
Exchange rate margin (%)
0.29
Percentage difference between market reference rate 130.59 and exchange rate charged 130.200.29
Total cost (%)
2.992.99
Total cost (SGD)sort descendingTotal cost (USD)sort descending
7.775.98
Firm
Tik FX
Firm type: Bank
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
5.003.85
Exchange rate margin (%)
1.24
Percentage difference between market reference rate 130.59 and exchange rate charged 128.961.24
Total cost (%)
3.173.17
Total cost (SGD)sort descendingTotal cost (USD)sort descending
8.246.34
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
2.001.54
Exchange rate margin (%)
2.45
Percentage difference between market reference rate 130.59 and exchange rate charged 127.392.45
Total cost (%)
3.223.22
Total cost (SGD)sort descendingTotal cost (USD)sort descending
8.376.44
Firm
Ameer Tech Remittance (MoneyGram)
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
8.006.15
Exchange rate margin (%)
0.29
Percentage difference between market reference rate 130.59 and exchange rate charged 130.200.29
Total cost (%)
3.373.37
Total cost (SGD)sort descendingTotal cost (USD)sort descending
8.766.74
Firm
State Bank of India
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
5.003.85
Exchange rate margin (%)
1.70
Percentage difference between market reference rate 130.59 and exchange rate charged 128.361.70
Total cost (%)
3.633.63
Total cost (SGD)sort descendingTotal cost (USD)sort descending
9.447.26
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 (%)
4.47
Percentage difference between market reference rate 130.59 and exchange rate charged 124.754.47
Total cost (%)
4.474.47
Total cost (SGD)sort descendingTotal cost (USD)sort descending
11.628.94
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
8.006.15
Exchange rate margin (%)
2.06
Percentage difference between market reference rate 130.59 and exchange rate charged 127.902.06
Total cost (%)
5.145.14
Total cost (SGD)sort descendingTotal cost (USD)sort descending
13.3610.28
Firm
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
SpeedSend
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
10.007.69
Exchange rate margin (%)
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.000.00
Total cost (%)
3.853.85
Total cost (SGD)sort descendingTotal cost (USD)sort descending
10.017.70
Total Average First Quarter
2.762.76
Total Average Fourth Quarter 2019
3.173.17
Total Average
Fee
4.513.47
Exchange Rate Margin (%)
1.021.02
Total Cost Percent (%)
2.762.76
Total Cost (SGD) Total Cost (USD)
7.175.52
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
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
InstaReM
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
1.611.25
Exchange rate margin (%)
0.05
Percentage difference between market reference rate 130.59 and exchange rate charged 130.530.05
Total cost (%)
0.300.30
Total cost (SGD)sort descendingTotal cost (USD)sort descending
1.941.50
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
0.990.77
Exchange rate margin (%)
0.70
Percentage difference between market reference rate 130.59 and exchange rate charged 129.670.70
Total cost (%)
0.850.85
Total cost (SGD)sort descendingTotal cost (USD)sort descending
5.484.25
Firm
Transferwise
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
6.585.10
Exchange rate margin (%)
-0.07
Percentage difference between market reference rate 130.59 and exchange rate charged 130.68-0.07
Total cost (%)
0.950.95
Total cost (SGD)sort descendingTotal cost (USD)sort descending
6.134.75
Firm
M1 Remit
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 (%)
0.50
Percentage difference between market reference rate 130.59 and exchange rate charged 129.930.50
Total cost (%)
1.121.12
Total cost (SGD)sort descendingTotal cost (USD)sort descending
7.225.60
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
3.002.33
Exchange rate margin (%)
0.75
Percentage difference between market reference rate 130.59 and exchange rate charged 129.620.75
Total cost (%)
1.211.21
Total cost (SGD)sort descendingTotal cost (USD)sort descending
7.806.05
Firm
Ameer Tech Remittance (MoneyGram)
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
7.005.43
Exchange rate margin (%)
0.29
Percentage difference between market reference rate 130.59 and exchange rate charged 130.200.29
Total cost (%)
1.381.38
Total cost (SGD)sort descendingTotal cost (USD)sort descending
8.906.90
Firm
Ameer Tech Remittance (MoneyGram)
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
8.006.20
Exchange rate margin (%)
0.29
Percentage difference between market reference rate 130.59 and exchange rate charged 130.200.29
Total cost (%)
1.541.54
Total cost (SGD)sort descendingTotal cost (USD)sort descending
9.937.70
Firm
Sir Money Changer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Low
Transfer speed
Receiving method
Agent
Disbursing network coverage
Medium
Fee
7.005.43
Exchange rate margin (%)
0.60
Percentage difference between market reference rate 130.59 and exchange rate charged 129.800.60
Total cost (%)
1.691.69
Total cost (SGD)sort descendingTotal cost (USD)sort descending
10.908.45
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
7.005.43
Exchange rate margin (%)
0.67
Percentage difference between market reference rate 130.59 and exchange rate charged 129.710.67
Total cost (%)
1.761.76
Total cost (SGD)sort descendingTotal cost (USD)sort descending
11.358.80
Firm
Tik FX
Firm type: Bank
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
5.003.88
Exchange rate margin (%)
1.24
Percentage difference between market reference rate 130.59 and exchange rate charged 128.961.24
Total cost (%)
2.022.02
Total cost (SGD)sort descendingTotal cost (USD)sort descending
13.0310.10
Firm
Xpress Money
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
9.006.98
Exchange rate margin (%)
0.69
Percentage difference between market reference rate 130.59 and exchange rate charged 129.690.69
Total cost (%)
2.082.08
Total cost (SGD)sort descendingTotal cost (USD)sort descending
13.4210.40
Firm
State Bank of India
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
5.003.88
Exchange rate margin (%)
1.70
Percentage difference between market reference rate 130.59 and exchange rate charged 128.361.70
Total cost (%)
2.482.48
Total cost (SGD)sort descendingTotal cost (USD)sort descending
16.0012.40
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
2.001.55
Exchange rate margin (%)
2.45
Percentage difference between market reference rate 130.59 and exchange rate charged 127.392.45
Total cost (%)
2.762.76
Total cost (SGD)sort descendingTotal cost (USD)sort descending
17.8013.80
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
12.009.30
Exchange rate margin (%)
2.06
Percentage difference between market reference rate 130.59 and exchange rate charged 127.902.06
Total cost (%)
3.923.92
Total cost (SGD)sort descendingTotal cost (USD)sort descending
25.2819.60
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 (%)
4.47
Percentage difference between market reference rate 130.59 and exchange rate charged 124.754.47
Total cost (%)
4.474.47
Total cost (SGD)sort descendingTotal cost (USD)sort descending
28.8322.35
Firm
This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
SpeedSend
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
10.007.75
Exchange rate margin (%)
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.000.00
Total cost (%)
1.551.55
Total cost (SGD)sort descendingTotal cost (USD)sort descending
10.007.75
Total Average First Quarter
1.881.88
Total Average Fourth Quarter 2019
2.272.27
Total Average
Fee
5.514.27
Exchange Rate Margin (%)
1.021.02
Total Cost Percent (%)
1.881.88
Total Cost (SGD) Total Cost (USD)
12.139.40
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
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