SingX alternatives

Compare the best SingX alternatives for Singaporeans to send money overseas.

By   |   Verified by David Boyd   |   Updated 26th September 2022

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Comparing SingX alternatives

Wise

Wise

Minimum Transfer Amount

$1.00

Transfer Speed

1 - 2 days

Transfer Fee

$0.00

Highlights

  • Access to a multi-currency digital wallet. Hold and transact in 50+ currencies.
  • Link a physical and virtual debit card with your Wise Borderless account to withdraw cash or spend like a local, whether in Singapore or overseas.
  • Transfers can be funded with debit cards, credit cards, and bank transfers.

Pros

  • Low and competitive fees.
  • Easy to understand fee structure.
  • Easy to use website and mobile apps.
  • High transfer limit.

Cons

  • Limited currencies and destination countries compared with some competitors.
  • Can only send funds to the recipient's bank account.
Remitly

On Remitly's website

Remitly

Minimum Transfer Amount

$10.00

Transfer Speed

Within an hour

Transfer Fee

$4.00

Highlights

  • Most recipients receive funds within minutes of them being sent from Singapore.
  • Choice of delivery options, including cash delivery to the recipient's address and cash pickup.
  • Competitive exchange rates and fees.

Pros

  • Low transaction fees.
  • Plenty of delivery options.
  • Wide global network, covering 50+ currencies and countries.
  • Highly rated customer support.

Cons

  • Fees apply when you fund your account using a credit card.
  • Transfer limits apply.
Revolut

On Revolut's website

Revolut

Minimum Transfer Amount

$1.00

Transfer Speed

Within an hour

Transfer Fee

$0.00

Highlights

  • No fees when transferring money to a Revolut friend.
  • Top-up and hold account balances in various currencies. Send money overseas with a competitive exchange rate.
  • Receive payments from overseas into a foreign currency account. Buy and send crypto too.

Pros

  • The standard account has no monthly fees.
  • Top-up and hold account balances in various currencies.
  • Lots of different additional features are available, such as crypto trading and disposable virtual cards.
  • Has a well-designed mobile app.

Cons

  • Monthly fees apply to certain types of accounts.
  • You may experience delays when sending money internationally.
Airwallex

On Airwallex's website

Airwallex

Minimum Transfer Amount

$1.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Charges a low margin on the interbank rate with no hidden fees.
  • International transfers are only one of the many features offered for business customers.
  • Licensed and regulated by the Monetary Authority of Singapore (MAS).

Pros

  • Create an account in just a few minutes.
  • No international transfer transaction fee.
  • Favorable currency exchange rates.
  • Quick transfers.

Cons

  • Limited transfer methods.
  • Fewer transfer currencies are available than some competing services.
WorldRemit

WorldRemit

Minimum Transfer Amount

$1.00

Transfer Speed

Within an hour

Transfer Fee

$0.00

Highlights

  • Low transfer fees, typically in the range of $1 to $4 per transaction.
  • Flexible funding options, including bank transfer, debit card, credit card, prepaid card, Apple Pay, and Google Pay.
  • Funds can be collected by the recipient at a local agent, deposited in their bank account, or sent to their mobile phone.

Pros

  • Low transfer fees.
  • No minimum transfer amount is required.
  • Multiple payment options.
  • Cash pick-up, cash delivery, and Airtime mobile phone top-up are available.

Cons

  • Transaction limit of $5,000 for some payment methods.
  • Fees depend on the method and currency you choose.
OFX

OFX

Minimum Transfer Amount

$250.00

Transfer Speed

1 - 2 days

Transfer Fee

$0.00

Highlights

  • Supports a wide range of currencies and countries with no maximum transfer amount for most currencies.
  • Use forward contracts to secure an exchange rate.
  • A good option for online sellers, importers, and businesses with overseas employees.

Pros

  • Easy and quick account opening.
  • Wide range of supported currencies and countries.
  • No fees if transferring more than $10,000.
  • Enjoy additional features for business transfers.

Cons

  • Limited payment options.
  • $15 fee if transferring less than $10,000.
YouTrip

YouTrip

Minimum Transfer Amount

$1.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Send 150+ currencies with competitive rates and no hidden charges.
  • Considerately designed, making it simple and convenient to use.
  • Get a YouTrip card and spend like a local while travelling overseas.

Pros

  • Free and quick account sign-up.
  • Easy and convenient to use.
  • You can get a YouTrip card to make withdrawals overseas.

Cons

  • No option for bank transfer.
  • There is a $5 overseas ATM withdrawal fee.
Aspire

Aspire

Minimum Transfer Amount

$1.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Borderless accounts and payments designed for freelancers and businesses.
  • Offers corporate cards, expense management, integrations with accounting software, and more.
  • Integrates with major online marketplaces. Collect payments from overseas in SGD or USD.

Pros

  • Offers an integrated financial solution to business owners.
  • No minimum deposit.
  • No monthly fees.
  • Earn rewards.

Cons

  • No cash or cheque deposits.
Xe Money Transfer

On Xe's website

Xe Money Transfer

Minimum Transfer Amount

$0.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Send 130+ currencies to 220+ countries and territories.
  • Works well for large amounts of bank-to-bank transfers as well as personal and business transactions.
  • Deposit funds to your Xe account with a bank transfer, credit card, or debit card.

Pros

  • No transfer fee.
  • No minimum transfer amount is required.
  • No transfer limit.
  • Good customer support.

Cons

  • Limited currencies.
  • Bank transfers only.