How to Send Money from Singapore: The Complete 2026 Guide

If you only have 30 seconds: open the SGD comparison for your destination. Typical winners: Wise, Instarem, YouTrip (for multi-currency users), DBS Remit (competitive on small amounts under S$1,000 due to fee waiver).

Under the Payment Services Act 2019, all providers handling cross-border transfers must hold either a Major Payment Institution (MPI) or Standard Payment Institution (SPI) licence from MAS. Wise, Remitly, Instarem, YouTrip, DBS, OCBC, UOB all hold MPI status.

Check the MAS Financial Institutions Directory at mas.gov.sg before using a less-known provider. Customer funds with MAS-licensed firms must be safeguarded in segregated accounts at major Singapore banks.

• PayNow — Free, instant, supported by all major Singapore banks. The default for most providers.
• FAST — Free, instant, similar to PayNow. Also widely supported.
• Direct bank transfer (GIRO) — Free, takes 1-2 business days.
• Debit card — Instant. Usually adds 0.5-1% surcharge.
• Apple Pay / Google Pay — Instant via some providers.

• No tax on personal outbound remittances. Singapore has no gift tax for individuals.
• No annual cap for individuals. MAS doesn't limit per-person transfers.
• S$5,000 enhanced KYC threshold. Transfers above this require additional ID verification.
• S$20,000 source-of-funds threshold. Transfers above this require source-of-funds documentation.
• Foreign workers can send freely with their work permit as primary ID.

• Best overall: Wise. Mid-market + percentage fee.
• Best for India (UPI): Wise, Instarem. PayNow-to-UPI integration delivers in seconds.
• Best for amounts under S$1,000: DBS Remit (free transfers under S$1,000), YouTrip.
• Best for Bangladesh: Wise, Instarem. Bangladesh Bank approved + 2.5% government bonus.
• Best for cash pickup destinations: Western Union, MoneyGram.
• Best for foreign workers: Lulu Money, Western Union, Cash Plus (in-person at Lucky Plaza or City Plaza). Instarem also has strong worker-channel pricing.

• [SGD → INR](/send-money/sgd-to-inr): S$1.5B+/year. PayNow-to-UPI integration delivers near-instantly. Wise, Instarem, YouTrip lead.
• [SGD → BDT](/send-money/sgd-to-bdt): ~S$300M/year. Wise and Instarem; 2.5% Bangladesh government bonus applies.
• [SGD → PHP](/send-money/sgd-to-php): ~S$200M/year. Wise, YouTrip, DBS Remit. GCash delivery in seconds.
• [SGD → IDR](/send-money/sgd-to-idr): Wise, Instarem; major flow due to large Indonesian workforce.
• SGD → CNY: Wise, OFX. Limited options due to China's FX rules.
• [SGD → MYR](/send-money/sgd-to-myr): Wise. DuitNow delivery in under a minute.
• SGD → MMK (Myanmar): Specialised providers like Wave Money. Limited international competition.

1. Confirm provider holds MAS MPI/SPI licence.
2. Open the live comparison; enter your exact amount.
3. Look at 'Recipient gets'.
4. Compare to mid-market: send amount × Google's SGD/destination rate. Gap should be under 1.5%.