SingX Money Transfers

Discover if SingX is the best option for your international money transfer needs.

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, updated on August 18th, 2023       

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SingX is a popular money transfer service based in Singapore. Hundreds of thousands of people use this international money transfer service each year to send money overseas, particularly around Asia.  You can find out if SingX is the right money transfer company for you here by comparing transfer services right here with Savvy. Consider which is the best option for you before you start your international transfer today.

*All product information is correct as of August, 2022.

SingX money transfer review

About SingX

SingX was founded in Singapore in 2014 by a group of bankers looking to provide a one-stop shop for small and medium-sized companies wanting to transfer money internationally.  It won the MAS (Monetary Authority of Singapore) Fintech Award in 2017 and has continued to grow exponentially ever since, with bases now in Singapore, Australia and Hong Kong.  It now provides transfer services to over 30 countries with 15 different currencies for both consumer and commercial needs.

Products and services offered by SingX

Online international money transfers

SingX offers international money transfers to consumers from bank account to bank account via its website or mobile app.  It does not offer cash transfers.

Transfer limits

The minimum transfer limit with SingX is $1, but there’s no maximum limit.  If you do wish to transfer a large sum, bear in mind that SingX’s percentage transfer fee may not offer you the cheapest option.


SingX charges a percentage of transfer fee ranging from 0.2% to 1% depending on the destination and currency. In return for this fee, they offer the mid-market exchange rate.  To find out exactly how much the fee will be for your transfer, SingX provides users with tools which show you exactly how much it’ll cost to send your money overseas.

Speed of transfer

It can take one to two business days for your funds to reach SingX before being sent to the destination. However, once an account has been established and funded, it should reach its destination within an additional one to two days. Some transfers will be completed almost instantly if there’s no intermediate bank involved (such as if you send money from one country to another where the same bank operates).

Introductory offer

Your first two transfers are free with SingX, provided they’re under $3,000.  This means the usual percentage fee will be waived for your first two transfers and you’ll also receive the mid-market exchange rate, making for the cheapest transfer possible.

Business transfers

By signing up for a SingX business account, you’ll have access to currency exchange in over 170 countries and be able to take advantage of SingX’s business tools, which include:

  • currency exchange calculator
  • Excel upload capability for up to 1,000 receiver details
  • schedule multiple transfers simultaneously
  • retaining receiver's details in a list for ease of repeat transfers
  • locked-in exchange rate

SingX does not offer individual business account managers (unlike some of its business competitors), but it does offer comprehensive phone support.  It also offers multi-currency accounts for businesses, which it calls a ‘business wallet’. If your business involves many small repetitive payments to multiple recipients, SingX may be one of the best ways for you to send money overseas.

How do I send a money transfer with SingX?

Signing up for an account with SingX can be quite a lengthy process involving several verification steps.  However, once you’ve opened your account, verified your identity and sent your first transfer, subsequent transfers are quick and easy.  The sign-up process involves:

  • Contact SingX and send your name, email address and mobile number
  • Follow the prompts for setting up an account
  • Upload a scanned or photographed copy of your photo ID, such as your passport or driver’s licence
  • Validate your identity digitally, set up passwords and two-step authentication and wait to receive account validation
  • Once your account is open, enter the details of the person you wish to send money to and get your transfer underway fast

The pros and cons of SingX money transfers


First two transfers free

If you open an account with SingX, you’ll get your first two transfers under $3,000 free of charge, which is useful if you aren’t planning on making regular transfers.

Reliable transfers to China

SingX is one of the best-known providers of international money transfers to China (which is a country that many other companies don’t deal with).

Get the mid-market exchange rate

As SingX bases its fee structure on a percentage fee, it offers most international money transfers at the mid-market rate, which is the best exchange rate possible at any point in time.

Fast service a priority

If a fast and reliable service is your priority, SingX may be a good option for you, as it’s well-known for its rapid money transfer services across Asia.


Limited number of countries

SingX only offers transfers to 15 currencies in 30 countries, mainly located in Asia and Europe, so you may have to look elsewhere for your required destination.

No credit card payments

It isn’t possible to pay for your transfer with a credit card. This may not be a bad thing, though, as credit cards can be an expensive way to complete a transfer.

Expensive for larger transfers

On average, SingX’s fees work out to be about 0.4% to 0.5% of your transfer amount. This percentage fee structure may be great for small transfers but can get expensive for larger transfers over $10,000, for instance.

No cash transfers

SingX does not provide a cash transfer or pickup service and does not permit payments to digital wallets or phone accounts.

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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.

If you decide to initiate a money transfer with one of the providers listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the provider offering that product.

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