I often meet friends who have just gone to Singapore and ask me on the Internet what reliable remittance methods are available in Singapore?

 

People who do not know the law will easily change money in the WeChat group, in fact, "private exchange" is not a rare thing, in order to avoid the bank fees, in order to high exchange rate and other reasons, a lot of people "private exchange addiction"!

 

However, private currency exchange not only has a high rate of fraud, but also can easily be accused of money laundering, thus ruining their chances of studying and working abroad.

 

So let's talk about the new money remittance what reliable way it is! Today, I will give you the latest version of 2020!

 

1

Local bank of Singapore

 

There are only four Banks in Singapore, namely DBS/POSB, OCBC and UOB, among which DBS and POSB are the same.

 

Remittance method: e-bank or to the counter, you need to fill in the swift code.

 

Handling fee: DBS is free of handling fee, OCBC is 20 Singapore dollars for each transaction, UOB is 10 Singapore dollars for each transaction

 

Features: low exchange rate, variable receipt time of 1-5 working days

 

2

 

Bank of China or icbc Singapore branch

 

Remittance method: counter or online banking

 

Features: low exchange rate, 2-3 working days to the account

 

3

 

Western union

 

Remittance method: fill in the remittance receipt at the agent outlet. There are many outlets of western union, such as Singapore Post

 

 

Handling fee: s $20 per transaction costs more

 

Features: low exchange rate

 

Arrival time: 15-30 minutes

 

4

 

Alipay exchange

 

Remittance method: alipay APP operation

 

Poundage: depends on the situation, but the feedback cost is higher

 

Features: the exchange rate is general, the receipt speed is 1-3 working days, can only domestic remittance abroad

 

5

 

Stores swap

 

Remittance method: prepare cash, offline counter

 

The remitter should prepare: passport, permit (visa) or IC, and provide the name, bank, account number, id number and mobile phone number of the recipient.

 

Poundage: the cost is high, 18 Singapore dollars

 

Features: the exchange rate is good, to the account speed half a day, generally in the morning to the afternoon. But you need to go to the counter, which is troublesome.

 

6

 

Epay payment (Epay)

 

Provide real-time optimal exchange rate every day, no matter how much the remittance amount, real-time account!

 

Remittance method: online operation through APP

 

The remitter needs to prepare: passport, permit (visa) or IC, and provide the name, bank name and account number of the recipient, which is convenient and quick

 

 

Handling fee: low

 

Features: good exchange rate, automatic to the account, the whole online operation, not out of the door to complete the remittance business! Save time, worry and effort!