Want to send money to Singapore? Considering a bank wire to transfer money to Singapore? Before you ask your bank to organise it, be sure to check out the wire transfer fees. You might get a shock as to how much the fees and charges will be and depending on the dollar amount, it might not be worth sending the money by bank wire transfer to forward the money using another method.
What makes it more expensive is in addition to your financial institution imposing a fee for sending the money to a bank in Singapore, the recipient receiving the transfer will probably also incur a fee from the bank where they have their account. One way to minimise the possibility of the fee is to send the international wire transfer in their local currency.
To make a wire transfer to Singapore, you might require a SWIFT code. These are different for each financial institution and based on a number of things such as the bank and country.
Bank wire details for Singapore
- Country – Singapore
- SWIFT Country Code – SG
- Central Bank Name – Monetary Authority of Singapore
- Currency – Singapore Dollar
- Currency Code – SGD