New Zealand Price Comparison Research
Discover how Wise outperforms 5 major New Zealand banks, PayPal, and Western Union, offering savings of up to 6x on international transactions.
Singapore Price Comparison Research
A dedicated comparison research team in Wise compared Wise to four Singapore bank accounts, as well as Instarem, Revolut and Youtrip by EZ link. They found that we’re on average 2x cheaper when spending $100 abroad. Wise is also on average 6x cheaper to send $100 abroad and our fees to withdraw 100$ from an ATM abroad are 1x cheaper on average. 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 2023 during a 5 day period (02/01/2023 - 06/01/2023).
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
- Total cost to send $100. Overall, Wise is 6x cheaper.
SGD > CNY: Wise is 5x cheaper
- Wise: $1.75
- DBS: $25.44
- Singtel Dash: Not offered
- Instarem: $4.06
- UOB: Not offered
- Revolut: $0.23
- Youtrip by EZ link: Not offered
- HSBC: Not offered
SGD > INR: Wise is 6x cheaper
- Wise: $1.14
- DBS: $26.00
- Singtel Dash: $4.18
- Instarem: $2.64
- UOB: Not offered
- Revolut: $0.58
- Youtrip by EZ link: Not offered
- HSBC: $1.22
SGD > MYR: Wise is 8x cheaper
- Wise: $0.96
- DBS: $26.21
- Singtel Dash: $2.56
- Instarem: $3.08
- UOB: Not offered
- Revolut: $0.30
- Youtrip by EZ link: Not offered
- HSBC: Not offered
SGD > USD: Wise is 8x cheaper
- Wise: $0.92
- DBS: $25.78
- Singtel Dash: Not offered
- Instarem: $2.50
- UOB: $10.80
- Revolut: $0.07
- Youtrip by EZ link: Not offered
- HSBC: $0.72
SGD > EUR: Wise is 10x cheaper
- Wise: $0.80
- DBS: $25.98
- Singtel Dash: Not offered
- Instarem: $2.51
- UOB: $11.38
- Revolut: $0.12
- Youtrip by EZ link: Not offered
- HSBC: $0.87
SGD > GBP: Wise is 8x cheaper
- Wise: $0.94
- DBS: $26.01
- Singtel Dash: Not offered
- Instarem: $2.51
- UOB: $11.35
- Revolut: $0.04
- Youtrip by EZ link: Not offered
- HSBC: $1.03
SGD > PHP: Wise is 5x cheaper
- Wise: $1.66
- DBS: $26.39
- Singtel Dash: $4.52
- Instarem: $3.15
- UOB: $11.96
- Revolut: $0.52
- Youtrip by EZ link: Not offered
- HSBC: Not offered
SGD > THB: Wise is 4x cheaper
- Wise: $1.84
- DBS: $22.23
- Singtel Dash: $2.62
- Instarem: $4.00
- UOB: $20.18
- Revolut: $1.44
- Youtrip by EZ link: Not offered
- HSBC: $1.14
SGD > VND: Wise is 3x cheaper
- Wise: $2.68
- DBS: $26.93
- Singtel Dash: Not offered
- Instarem: $4.11
- UOB: Not offered
- Revolut: $0.20
- Youtrip by EZ link: Not offered
- HSBC: Not offered
SGD > IDR: Wise is 6x cheaper
- Wise: $1.38
- DBS: $26.91
- Singtel Dash: $7.29
- Instarem: $3.56
- UOB: Not offered
- Revolut: $0.31
- Youtrip by EZ link: Not offered
- HSBC: Not offered
SGD > JPY: Wise is 3x cheaper
- Wise: $2.91
- DBS: $26.18
- Singtel Dash: Not offered
- Instarem: $1.12
- UOB: $16.00
- Revolut: $0.12
- Youtrip by EZ link: Not offered
- HSBC: $1.12
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
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: Not offered
SGD > INR: Wise is 3x cheaper
- Wise: $0.59
- DBS: $3.25
- Singtel Dash: $2.80
- Instarem: $0.00
- UOB: $10.00
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
SGD > MYR: Wise is 2x cheaper
- Wise: $0.56
- DBS: $3.25
- Singtel Dash: $2.80
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
SGD > USD: Wise is 2x cheaper
- Wise: $0.47
- DBS: $3.25
- Singtel Dash: Not offered
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
SGD > EUR: Wise is 2x cheaper
- Wise: $0.44
- DBS: $3.25
- Singtel Dash: Not offered
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
SGD > GBP: Wise is 2x cheaper
- Wise: $0.44
- DBS: $3.25
- Singtel Dash: Not offered
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
SGD > PHP: Wise is 2x cheaper
- Wise: $0.55
- DBS: $3.25
- Singtel Dash: $2.80
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
SGD > THB: Wise is 2x cheaper
- Wise: $0.58
- DBS: $3.25
- Singtel Dash: $2.80
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
SGD > VND: Wise is 1x cheaper
- Wise: $0.77
- DBS: $3.25
- Singtel Dash: Not offered
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
SGD > IDR: Wise is 2x cheaper
- Wise: $0.56
- DBS: $3.25
- Singtel Dash: $2.80
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
SGD > JPY: Wise is 2x cheaper
- Wise: $0.47
- DBS: $3.25
- Singtel Dash: Not offered
- Instarem: $0.00
- UOB: $2.80
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $0.00
3. Fees to withdraw 100$ abroad via an ATM, using a debit card. Overall, Wise debit card is 1x cheaper.
SGD > CNY: Wise is 1x cheaper
- Wise: $2.05
- DBS: $7.00
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: Not offered
SGD > INR: Our fees are not significantly cheaper and close to the same price
- Wise: $2.05
- DBS: $7.00
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
SGD > MYR: Wise is 1x cheaper
- Wise: $0.65
- DBS: $1.40
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
SGD > USD: Wise is 1x cheaper
- Wise: $0.65
- DBS: $1.40
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
SGD > EUR: Wise is 1x cheaper
- Wise: $0.65
- DBS: $1.40
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
SGD > GBP: Wise is 1x cheaper
- Wise: $0.65
- DBS: $1.40
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
SGD > PHP: Wise is 1x cheaper
- Wise: $0.65
- DBS: $1.40
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
SGD > THB: Wise is 1x cheaper
- Wise: $0.65
- DBS: $1.40
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
SGD >VND: Wise is 1x cheaper
- Wise: $0.65
- DBS: $1.40
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
SGD > IDR: Wise is 1x cheaper
- Wise: $0.65
- DBS: $1.40
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
SGD > JPY: Wise is 1x cheaper
- Wise: $0.65
- DBS: $1.40
- Singtel Dash: Not offered
- Instarem: $0.40
- UOB: $1.56
- Revolut: $0.40
- Youtrip by EZ link: $1.00
- HSBC: $0.00
Monthly account fees*
- Wise: $0.00
- DBS: $0.00
- Singtel Dash: $12.00
- Instarem: $0.00
- UOB: $0.00
- Revolut: $0.00
- Youtrip by EZ link: $0.00
- HSBC: $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.
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