Explore the best way to send money to Singapore from USA or vice versa
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If this is the first time you send money to Singapore from USA, you can be a bit confused about what to do. This is partly due to so many options available for you.
Don’t worry. Here is your answer to how to send money to Singapore from US and the best way to transfer money from Singapore to USA.
Singapore and the US relations
For over 55 years, Singapore and the US have formed an enduring and close relationship based on mutual interests.
Explore the best way to send money to Singapore from USA or vice versa
There are 30,000 U.S citizens living and working in Singapore, around 4,000 Singaporeans studying in the US and over 1,000 U.S citizens studying in Singapore every year.
In addition, there are over 4,500 U.S. companies registered in Singapore and the US is the biggest foreign investor in Singapore, with about 270 billion dollars in direct investments.
There are 4,200 American businesses in Singapore and American businesses investing more than 180 billion dollars.
U.S. goods and services trade with Singapore reached about 93.7 billion dollars in 2020. Exports reached 51.6 billion dollars; imports came to 42.1 billion dollars.
Singapore was the 17th biggest goods trading partner with 57.8 billion dollars in goods trade in 2020.
Singapore is well-known as the global business hub of the Asia Pacific region. Singapore’s official currency has been SGD since 1965.
With a strong economy in the world, SGD is one of the most outstanding currencies and the currency’s highest performances.
Singapore is a popular destination for overseas investors and millions of international money transfers are sent to the country every year.
The US is by far the world's largest economy in 2021 with a GDP of 23.0 trillion USD.
The US dollar is the unit of official currency in the US and several countries. Now, the U.S. dollar is the currency widely used in international transactions.
There are various types of international transactions from the US to Singapore, here are some suggestions for you.
How to send money to Singapore from US?
Making an international payment from the US to Singapore or sending money to anywhere else can be confusing.
Here’s how to send money from the US to Singapore with some suggestions.
Send money to Singapore from USA or vice versa through bank transfers
In 2021, there were 4,951 commercial banks and savings institutions in the U.S
Bank transfer is a secure and convenient way to send money to Singapore.In general, there is little possibility of payment reversals. This method is very popular with many people. In case you transfer a large amount of money to Singapore at once, banks are the optimal solution because you’re just charged once on all your transactions.
Sometimes, you have to visit the local bank in person and stand in line for a long time.
In addition, bank transfers often come with slow delivery in case speed matters to you.
When transferring money to Singapore from the US, by using a bank account, you can pay for outgoing fees, flat fees, currency exchange rate markup, and an additional incoming transfer fee.
In general, however, banks often charge high fees and give unfair exchange rates.
Instead, you can choose an alternative option to go through smoothly, reasonable fees, fair exchange rate and faster delivery time with an online money transfer provider.
Send money via an online money transfer provider
If you’re focusing on the price, speed, and reliability, maybe an online money transfer provider is the best choice.
You are likely to save on transfer fees and enjoy fast speeds. This helps your beneficiary get more money and wait less time.
You don’t need to wait in a long queue at the transfer counter, you can send money via online payment from your phone or laptop conveniently and quickly.
Online money transfer providers tend to surpass traditional banks. The online service offers international coverage, multiple payments and fast delivery modes which are convenient and user-friendly.
The possibility to transfer money to Singapore via online money transfer has added convenience to customers in the USA.
It’s recommended to think of this list of online money transfer providers: DNBC Financial Group, CurrencyFair, WorldRemit, Western Union, Remitly, TransferWise, OFX, XE, TransferGo …
Take DNBC Financial Group as a typical provider to transfer money to Singapore from the USA.
At DNBC Financial Group, you will be transferred for international business accounts in 173 countries. They supply their customers with alternative transfers at a fair exchange rate.
The beneficiary will receive the money in one-three days. Especially in some situations, the beneficiary money will reach in a few minutes. It’s necessary if there is any emergency, and your beneficiary receives the money without waiting so long.
Besides, you can consider alternative ways to transfer money from the US to Singapore such as Remitly, Wise, Western Union,TransferGo, WorldRemit or CurrencyFair.
You can send money between accounts online. It's more convenient and economical than visiting a local bank in the USA.
Many people also believe that DNBC Financial Group is one of the best way to transfer money from Singapore to USA.
More about DNBC Financial Group
DNBC Financial Group is an emerging fintech startup with money transaction solutions all over the world.
By setting a high standard for innovation in the money transfer platform since 2017, DNBC Financial Group has offered solutions for international transfer, including to Singapore from USA or vice versa.
Now DNBC Financial Group has a considerable number of users globally and become one of the reputable providers in the world.
And now you can clearly send money to Singapore from USA or vice versa.
Note: The content in this article is for general informative purposes only. You should conduct your own research or ask for specialist advice before making any financial decisions. All information in this article is current as of the date of publication, and DNBC Financial Group reserves the right to modify, add, or remove any information. We don’t provide any express or implied representations, warranties, or guarantees regarding the accuracy, completeness, or currency of the content within this publication.
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