Singapore Price Comparison Research
Detailed research by Wise reveals substantial savings compared to Singapore banks and services like Instarem, Revolut, and Youtrip by EZ link.
Paying school fees in Australia? Save up to 6x with Wise.
We compared Wise to three other money transfer providers for students or supporters to pay school fees in Australia from overseas. We found that Wise is up to 6x cheaper for sending money from abroad to Australian universities.
What we researched
The different fees recorded for this price comparison include the cost of sending 10,000 AUD from Singapore, Indonesia and India.
The costs collected are as of 24 March 2021. For the most accurate fees when you wish to send money, please check individual providers’ sites directly.
Fees recorded are for transfers from SGD, IDR and INR to 10,000 AUD. The providers compared were Western Union, Flywire and Instarem. We also took into consideration the various payment methods offered by providers to pay for the transfer. Where available, we selected the cheapest payment method for all providers.
How we did it
When comparing the cost to send money, we used the providers’ websites to capture the rate and fees associated with sending money from the source currencies to 10,000 AUD. We obtained the overall fees charged by each provider and compared that against the accurate mid-market rate as seen on Google.
What we found
Sending 10,000 AUD from SGD
It’s up to 5x cheaper to send 10,000 AUD from Singapore with Wise compared to the 3 providers - Western Union, Flywire and Instarem.
Sending 10,000 AUD from IDR
It’s up to 6x cheaper to send 10,000 AUD from Indonesia with Wise compared to the 2 providers - Western Union and Flywire. Instarem does not provide remittance service from IDR.
Sending 10,000 AUD from INR
Currently, we’re more costly compared to the 3 providers for sending 10,000 AUD from India.
Wise offers the real exchange rate with transparent, upfront fees for sending money internationally. Learn how you can use Wise to send, receive and spend money in Australia or start sending money with us now.
| Provider | Mid-market rate | Local currency | 10,000 AUD at mid-market rate | Provider's total cost | Provider's fees (total cost - 10,000 AUD at mid-market rate) | Wise is X times cheaper |
|---|---|---|---|---|---|---|
| Wise | 0.978105 | SGD | 10,223.85 | 10,269.32 | 45.47 | - |
| Western Union | 0.978105 | SGD | 10,223.85 | 10,483.00 | 259.15 | 5.70 |
| Flywire | 0.978105 | SGD | 10,223.85 | 10,487.00 | 263.15 | 5.79 |
| Instarem | 0.978105 | SGD | 10,223.85 | 10,283.79 | 59.94 | 1.32 |
| Wise | 10,970.40 | IDR | 109,704,000.00 | 110,809,128.00 | 1,105,128 | - |
| Western Union | 10,970.40 | IDR | 109,704,000.00 | 117,032,926.00 | 7,328,926 | 6.63 |
| Flywire | 10,970.40 | IDR | 109,704,000.00 | 112,450,000.00 | 2,746,000 | 2.48 |
| Instarem | 10,970.40 | IDR | 109,704,000.00 | N/A | N/A | N/A |
| Wise | 55.1523 | INR | 551,523.00 | 561,839.45 | 10,316.45 | - |
| Western Union | 55.1523 | INR | 551,523.00 | 561,190.00 | 9,667.00 | 0.94 |
| Flywire | 55.1523 | INR | 551,523.00 | 561,588.00 | 10,065.00 | 0.98 |
| Instarem | 55.1523 | INR | 551,523.00 | 559,196.55 | 7673.55 | 0.74 |
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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