Singapore Price Comparison Research

A dedicated comparison research team in Wise compared Wise to 4 Singapore bank accounts as well as Instarem, Revolut and Youtrip by EZ link.

They found that you can save up to 2x on average to send, spend and withdraw money abroad with Wise. Individually, you can save up to 2x when sending money abroad, up to 2x when spending abroad, and we don’t charge fees for ATM withdrawals up to $350.

There are no account set up fees, monthly fees or minimum balance with the Wise account. This is based on the prices offered by Wise Asia-Pacific Pte Ltd during the research period.

Research methodology

The competitor research was collected in January 2024 during a 5 day period (15/01/2024 - 19/01/2024).

They looked at data across multiple countries, currencies, and price points to make sure any price claims we make are fair and accurate. The data was collected by simulating a transfer using live accounts on the providers website, during standard trading hours and at the same time every day, whenever possible, to ensure consistency across the comparison.

The research scope looked at the following, across CNY, INR, MYR, USD, EUR, GBP, PHP, THB, VND, IDR and JPY using $100 as the transaction value:

• The cost to send money abroad from an account
• The cost to spend money abroad using a debit card
• The cost to withdraw money abroad from an account via an ATM

The costs collected for sending money abroad are made up of both the foreign transaction fee and any exchange rate markup. The exchange rate markup is a percentage added to the mid-market exchange rate by a provider when they sell you a currency. The costs collected for spending money abroad and withdrawing money abroad from an account via ATM are only made up of foreign transaction fees.

The research and results

1. Total cost to send $100. Overall, Wise is 2x cheaper.

SGD > CNY: Wise is 3x cheaper

• Wise: $1.55
• DBS: $1.03
• Singtel Dash: $10.41
• UOB: Not offered
• HSBC: Not offered
• Instarem: Not offered
• Revolut: Not offered
• Youtrip by EZ link: Not offered

SGD > INR: Wise is 1x cheaper

• Wise: $1.07
• DBS: $0.94
• Singtel Dash: $0.74
• UOB: Not offered
• HSBC: $0.45
• Instarem: $2.58
• Revolut: $1.11
• Youtrip by EZ link: Not offered

SGD > MYR: Wise is 3x cheaper

• Wise: $0.97
• DBS: $4.26
• Singtel Dash: $2.57
• UOB: Not offered
• HSBC: Not offered
• Instarem: $3.09
• Revolut: $1.41
• Youtrip by EZ link: Not offered

SGD > USD: Wise is 2x cheaper

• Wise: $0.93
• DBS: $0.72
• Singtel Dash: Not offered
• UOB: $7.08
• HSBC: $0.76
• Instarem: $2.52
• Revolut: $0.99
• Youtrip by EZ link: $0.01

SGD > EUR: Wise is 3x cheaper

• Wise: $0.83
• DBS: $0.83
• Singtel Dash: $3.91
• UOB: $7.49
• HSBC: $0.93
• Instarem: $2.52
• Revolut: $0.25
• Youtrip by EZ link: $0.00

SGD > GBP: Wise is 2x cheaper

• Wise: $0.85
• DBS: $0.87
• Singtel Dash: $4.54
• UOB: $7.55
• HSBC: $0.92
• Instarem: $2.52
• Revolut: $0.68
• Youtrip by EZ link: $0.03

SGD > PHP: Wise is 1x cheaper

• Wise: $1.66
• DBS: $0.95
• Singtel Dash: $4.01
• UOB: $7.99
• HSBC: $0.27
• Instarem: $3.08
• Revolut: $1.37
• Youtrip by EZ link: Not offered

SGD > THB: Wise is 2x cheaper

• Wise: $1.84
• DBS: $1.54
• Singtel Dash: $5.46
• UOB: $8.92
• HSBC: $1.11
• Instarem: $4.05
• Revolut: $1.48
• Youtrip by EZ link: Not offered

SGD > VND: Wise is 1x cheaper

• Wise: $1.47
• DBS: $2.62
• Singtel Dash: $5.46
• UOB: Not offered
• HSBC: Not offered
• Instarem: $4.01
• Revolut: $1.89
• Youtrip by EZ link: Not offered

SGD > IDR: Wise is 2x cheaper

• Wise: $1.38
• DBS: $1.34
• Singtel Dash: $6.35
• UOB: Not offered
• HSBC: Not offered
• Instarem: $3.57
• Revolut: $1.44
• Youtrip by EZ link: Not offered

SGD > JPY: Our fees are not significantly cheaper and close to the same price

• Wise: $2.91
• DBS: $1.08
• Singtel Dash: Not offered
• UOB: $8.11
• HSBC: $1.06
• Instarem: $0.73
• Revolut: $1.75
• Youtrip by EZ link: $0.01

2. Fees to spend $100 using a debit card. Overall, Wise debit card is 2x cheaper.

SGD > CNY: Wise is 1x cheaper

• Wise: $1.02
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > INR: Wise is 2x cheaper

• Wise: $0.56
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > MYR: Wise is 2x cheaper

• Wise: $0.57
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > USD: Wise is 2x cheaper

• Wise: $0.47
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > EUR: Wise is 2x cheaper

• Wise: $0.46
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > GBP: Wise is 2x cheaper

• Wise: $0.47
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > PHP: Wise is 3x cheaper

• Wise: $0.55
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > THB: Wise is 2x cheaper

• Wise: $0.58
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > VND: Wise is 1x cheaper

• Wise: $0.85
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > IDR: Wise is 2x cheaper

• Wise: $0.56
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > JPY: Wise is 2x cheaper

• Wise: $0.47
• DBS: $3.25
• Singtel Dash: $2.80
• UOB: $3.25
• HSBC: $2.25
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

3. Fees to withdraw 100$ abroad via an ATM, using a debit card. Overall, Wise debit card is 1x cheaper.

SGD > CNY: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > INR: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > MYR: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > USD: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > EUR: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > GBP: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > PHP: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > THB: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD >VND: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > IDR: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

SGD > JPY: Free withdrawal with Wise

• Wise: $0.00
• DBS: $8.00
• Singtel Dash: Not offered
• UOB: $7.80
• HSBC: $2.25
• Instarem: $2.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

Monthly account fees*

• Wise: $0.00
• DBS: $0.00
• Singtel Dash: $0.00
• UOB: $0.00
• HSBC: $0.00
• Instarem: $0.00
• Revolut: $0.00
• Youtrip by EZ link: $0.00

*Assuming that waiver criteria has not been met.

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 Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.