SingX international money transfers. The fees, times and rates

Roberto Efflandrin

There are so many reasons why you might need to send money overseas. Maybe you have a home or family abroad, need to pay for an upcoming holiday or are setting yourself up to move to a new country. Whatever the reason may be, you’ll want the service you use to be safe, transparent and cost effective.

One option available to Australians is SingX. We’re going to take you through who they are, what they do and what it will cost you to use their services. We’ll also introduce you to Wise, another financial services provider who specialises in sending money around the globe.

💰 Wise provides you the mid-market exchange rate and low transparent transfer fees shown upfront.

Learn more about
Wise money transfers

What is SingX Australia

SingX is an award winning Singaporean company that provides international payment services.³ Across their operations they offer the option to payout funds to over 180 countries and have bases in Singapore, Hong Kong and Australia.

In Australia, SingX is authorised and regulated by the appropriate Australian authorities.

  • SingX is a registered Remittance Network Provider under the authority of the Australian Transaction Reports and Analysis Centre (AUSTRAC)
  • The Australian SingX branch holds an Australian Financial Services License (Number: 508309) which is regulated by the Australian Securities and Investments Commission (ASIC).

Knowing that ASIC and AUSTRAC regulate entities like SingX should give you peace of mind that your money transfer is secure.

How do SingX transfers work

SingX doesn't go into much detail on their website for how the back end of their system works, but essentially you send money to SingX and they convert it and deposit it into the recipient's bank account.¹

SingX does state that there may be times where an intermediary bank they’re using to complete a transfer charge a fee.⁴ What this indicates is that there are circumstances where transfers will use the SWIFT system to send your money abroad.

SingX international money transfers fees.

For international money transfers SingX charges a transaction fee of somewhere around 0.5%.⁴ It can be up to 5% depending on the circumstances. In addition to the transaction fee you could also be charged an additional amount for volatile or less traded currencies which is rolled into the fee.

To know what the current fees are you need to use the calculator on their website. As an example, here’s a comparison between sending $1000 AUD from your Aussie account to a GBP bank account in the United Kingdom.⁵

Provider* Fee
SingX⁵ 9.00 AUD
Wise (on transfers paid via bank transfer to Wise) 5.31 AUD (See pricing calculator)

* As seen on 28th June 2023

SingX international money transfers exchange rate

Just like Wise, SingX uses the mid market exchange rate.¹ The mid market rate is the midpoint between the buy and sell prices for currencies being bought and sold on the international currency market. SingX endeavours to provide this rate without any mark-up or hidden fees.

Here’s the exchange rates and what the recipient would get for that $1000 AUD you were hypothetical converting to GBP and sending to a UK bank account.⁵

Provider Exchange Rate Recipient Gets
SingX 1 AUD = 0.5218 GBP 521.80 GBP
Wise 1 AUD = 0.52246 GBP 522.46 GBP

* As seen on 28th June 2023

SingX supported currencies

For Australian customers SingX supports 22 currencies.²

  • Australian Dollar (AUD)
  • Bangladeshi Taka (BDT)
  • Canadian Dollar (CAD)
  • Chinese Yuan (CNY)
  • Euro (EUR)
  • Hong Kong Dollar (HKD)
  • Indian Rupee (INR)
  • Indonesia Rupiah (IDR)
  • Japanese Yen (JPY)
  • Korean Won (KRW)
  • Malaysian Ringgit (MYR)
  • Nepalese Rupee (NPR)
  • New Zealand Dollar (NZD)
  • United States Dollar (USA)
  • Pakistani Rupee (PKR)
  • Philippine Peso (PHP)
  • Singapore Dollar (SGD)
  • South African Rand (ZAR)
  • Sri Lankan Rupee (LKR)
  • Thai Baht (THB)
  • United Kingdom (GBP)
  • Vietnamese Dong (VND)

For some of these currencies you can send them to destinations that aren’t the country that produces them. For example, it’s possible to transfer USD to a country that isn’t the United States of America.

How to send money internationally with SingX

The first step to sending money overseas with SingX is to sign up for an account. Once you’ve done that you’ll need to follow these steps to complete a transfer.¹

  1. Login to your SingX account
  2. Press ‘Start Your Transfer’
  3. Input the currency and amount you want to send
  4. Enter the recipient's details
  5. Transfer the amount you’re sending plus the fee amount from your local bank account to SingX’s Australian bank account

SingX will then complete the currency conversion and deposit the funds into the recipient's bank account. Once the transaction is completed, you’ll get an SMS and email notification.

What details are needed to send money with SingX

To send money to someone using SingX you’ll need to add them as a recipient.¹ To do that, go to ‘Manage Receivers’ then select ‘+Add’ and enter these details.

  • Receivers name
  • Bank name
  • Bank account number

Transfer limits with SingX

The transfer limit for a single transaction varies with SingX depending on the currency and country it’s being sent to.²

Here’s some of the limits that apply when you send funds with SingX.²

Country and Currency Limit
CNY to China

(Receiver must be a Chinese National)

3,000 USD equivalent per transfer. Max of 2 transfers per day and 50,000 USD equivalent per year
EUR to Europe No limit
GBP to the United Kingdom 550,000 GBP
INR to India No limit
NZD to New Zealand 1,000,000 SGD equivalent
USD outside the United States

USD to the United States

USD to Singaporean Dollars

No limit

700,000 USD

No limit

As you can see the limits vary quite a bit so if you’re planning to send a large amount of money you may want to check with SingX first.

SingX money transfer payment methods — In and Out

Currently the only method for Australian customers to pay for their SingX transfers is to send funds to SingX’s Australian bank account.¹ Cheques, cash, credit cards and debit cards are currently not being accepted.

The money you send is paid out to the recipient's bank account.¹ The only exception is the Philippines where it’s possible for the recipient to be paid out in cash.

Pros and cons of sending money with SingX

Taking it all in, here’s some of the pros and cons of transferring money with SingX.

Pros Cons
SingX uses the mid-market exchange rate to complete currency conversions¹

You’ll know any fees upfront and can check them anytime using the calculator on the SingX website

Processing times are generally quite quick so the recipient has the funds within a few days of you sending them²

Cash payouts are only available in one country, the Philippines¹

At this stage you can only fund a transfer using an Australian bank account, no credit or debit cards allowed

Since SingX use a percentage based transaction fee, rather than a flat rate fee, it can get quite expensive if you’re sending large amounts of money⁴

How long does an international bank transfer with SingX take?

The processing times for SingX depends on the currency, country and whether the funds were sent on a business day or non-business day. Here’s how long it takes for five of the transfer routes they support.²

Route Business Day Non-Business Day
CNY to China

(China Pay)

9am to 5pm: Within hours

5pm to 9am: Next business day

1-2 business days
EUR to Europe Before 5pm: Next business day 1-2 business days
GBP to the UK Before 5pm: Next business day 1-2 business days
INR to India Before 5pm: Within hours 1 business day
NZD to New Zealand Before 5pm: Next business day 1-2 business days

Keep in mind that the times on the SingX website are their processing times and it may take a little more time for the recipient's bank to credit the funds to their account.

Contacting SingX Australia

To speak to SingX directly you can try calling their Australian office on +61 3 9917 4319.

Transfer money the Wise way

Sending money with Wise is safe and easy. You can send money to 160 countries, at the mid-market rate and with low fees shown upfront.

With the Wise Account, you can get your own local AUD account details (with other popular currency account details too). This makes it easy to be sent money from home, or convert and send your money back home as well.

You can also order your own Wise debit card to be linked to your account, so that you can spend your hard earned cash anywhere Visa is accepted.

Join over 13 million customers currently using Wise. It’ll only take a few minutes to register and see what’s inside.

Register your Wise account
in minutes

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.


  1. SingX - FAQ
  2. SingX - Processing Times & Transfer Limits for Money Transfer Overseas​
  3. SingX - About Us
  4. SingX - Terms of Use
  5. SingX - Fair Exchange Calculator

Sources checked on: 28 June 2023

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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