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Thread: Most convenient way to transfer money from USA to Singapore?

  1. #1

    Default Most convenient way to transfer money from USA to Singapore?

    What is the most convenient way to transfer money from USA to Singapore without losing much in commission or taxes in between? I'm looking at only S$100-200..

    Thanks!

  2. #2

    Default Re: Most convenient way to transfer money from USA to Singapore?

    For small amounts, PayPal or Cash via Registered or Express Air Mail, which ever offers tracking.

  3. #3
    Moderator ortega's Avatar
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    Default Re: Most convenient way to transfer money from USA to Singapore?

    maybe can buy something from the states and resell it back here
    might just break even

  4. #4

    Default Re: Most convenient way to transfer money from USA to Singapore?

    Quote Originally Posted by Dream Merchant View Post
    For small amounts, PayPal or Cash via Registered or Express Air Mail, which ever offers tracking.
    Sorry sorry no time to come back to this thread... hehee... If they pay by PayPal, how can I withdraw it in Singapore? Any admin fees I must pay?

    Thanks!

  5. #5
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    Default Re: Most convenient way to transfer money from USA to Singapore?

    Quote Originally Posted by behyx View Post
    If they pay by PayPal, how can I withdraw it in Singapore? Any admin fees I must pay?

    Thanks!
    Options that you can have,

    1) ask them to pay you USD. You exchange USD to SGD on paypal.com.
    Now u have SGD balance. You can use it, or push the $ to your bank acct. That would take 5-7 days. The cost to push to your bank acct is free for above SGD200K and SGD1.00 for below SGD200K.

    2) aask them to pay you SGD (they would have to do the USDSGD on paypal.com) and you jsut have to push the balance to your bank. Again, SGD1.00 for below SGD200K.


    Hopes that help.

  6. #6

    Default Re: Most convenient way to transfer money from USA to Singapore?

    Quote Originally Posted by wong_se View Post
    Options that you can have,

    1) ask them to pay you USD. You exchange USD to SGD on paypal.com.
    Now u have SGD balance. You can use it, or push the $ to your bank acct. That would take 5-7 days. The cost to push to your bank acct is free for above SGD200K and SGD1.00 for below SGD200K.

    2) aask them to pay you SGD (they would have to do the USDSGD on paypal.com) and you jsut have to push the balance to your bank. Again, SGD1.00 for below SGD200K.


    Hopes that help.
    Thanks thanks! Is Paypal's USD-SGD similar to market rates?

    Also, I've a PayPal account, but it's unverified.. I've lost the credit card statement of the verification code.. To resend they charge additional $3.. Can I use this account whilst it's unverified?

  7. #7
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    Default Re: Most convenient way to transfer money from USA to Singapore?

    Quote Originally Posted by behyx View Post
    Thanks thanks! Is Paypal's USD-SGD similar to market rates?

    Also, I've a PayPal account, but it's unverified.. I've lost the credit card statement of the verification code.. To resend they charge additional $3.. Can I use this account whilst it's unverified?

    well put it this way. when u go overseas and make the purchase and charge it your credit card, regardless it is visa/master/amex/diners/jcb, they would make a margin based on the current market rate. however, you would not know the rate until you receive your bank statement.

    paypal would apply more or less the same method. they would charge a margin based on the current market rate. the rate is more or less similiar to credit card co. rate. Difference is that, you gotto see the exchange rate at paypal.com

    if you like the rate, you may proceed. if u dun like you make do the USDSGD conversion with the credit card co. Again, those rate might not be any better and yet, not transparent to you until you get the statement.


    if you verify your acct, you will have more functions with your acc. I am not too sure what is your limitation of having unverified acct.

  8. #8

    Default Re: Most convenient way to transfer money from USA to Singapore?

    Quote Originally Posted by wong_se View Post
    well put it this way. when u go overseas and make the purchase and charge it your credit card, regardless it is visa/master/amex/diners/jcb, they would make a margin based on the current market rate. however, you would not know the rate until you receive your bank statement.

    paypal would apply more or less the same method. they would charge a margin based on the current market rate. the rate is more or less similiar to credit card co. rate. Difference is that, you gotto see the exchange rate at paypal.com

    if you like the rate, you may proceed. if u dun like you make do the USDSGD conversion with the credit card co. Again, those rate might not be any better and yet, not transparent to you until you get the statement.


    if you verify your acct, you will have more functions with your acc. I am not too sure what is your limitation of having unverified acct.
    Thanks man great great help!

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