Pay2Home Singapore: Your full guide

Aman Saxena

Pay2Home is a remittance service in Hong Kong and Singapore. Singapore users can send money to a handful of countries, including Malaysia, China, Australia, and the Philippines for a flat fee. But this flat fee can end up being more expensive than other money transfer services for regular transfers below S$ 5,000. Let’s take a deeper look into Pay2Home and how it works.

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Table of contents

Pay2Home offers a money transfer service to residents of Singapore and Hong Kong. Using it, you can send money to a number of countries across Southeast Asia, including China, Indonesia, Vietnam, and Malaysia. You can also send money to the UK, Australia, Europe, and New Zealand. Read on to get answers to common questions about using Pay2Home.

How to open a Pay2Home account?

To open a Pay2Home account you will have to sign up online or visit one of their branches. First, you will have to register on the website and fill out your personal details. You will need to create a username and password, and then verify your email address. You will be also prompted to fill out an eKYC during this process, so keep copies of your government issues IDs available for upload.

Once registered, you can use the online dashboard or app to add beneficiaries and make transfers. Depending on your transaction’s destination you will have a few different options of delivery. It can be sent directly to a bank account through a bank transfer, delivered to a home address, pick up at a branch or affiliate office, or door-to-door cash delivery.¹

Pay2Home charges and fees

Pay2Home has an interesting fee structure. It offers a clear flat fee no matter the amount you are looking to send. The fee is only dependent on where you are sending money to. Here is how the flat fee looks when you’re sending S$ 1000 to different countries:

Singapore to...Pay2Home flat fee
AustraliaS$ 20
MalaysiaS$ 9
IndonesiaS$ 6
ChinaS$ 8

The flat fee starts to be economical once you are sending large amounts using Pay2Home and if you are not in a rush. But for smaller payments of S$ 1,000- S$5,000, other providers like Wise can be significantly cheaper.²

Pay2Home transfer limit

There are no minimum or maximum limits when you send money by Pay2Home. But if you are sending more than S$ 15,000, you can give their concierge a call to get a privileged exchange rate.³

How much time does it take to send money with Pay2Home?

Once you have paid, it can take anywhere from a few seconds to 1-3 business days for the money to reach, depending on the country and delivery method. Transactions to Thailand, Malaysia, the Philippines or Europe can take up to 3 days, while transactions to Vietnam, the UK, Australia, Indonesia, China, India, and Bangladesh can take 2 days. You can also make use of Pay2Home’s express service that can get your payments to your recipient within seconds. Check with Pay2Home express service for the transfer time for your particular country.⁴

How can I check the status of money transfer with Pay2Home?

You can check the status of a transfer by logging into your account on the Pay2Home website, selecting “Transaction Tracker” on the app or by visiting a branch. You can also get real-time updates when you make a transaction by requesting SMS or email updates. You and your beneficiary will both be updated when the full payment is complete.⁵

Pay2Home customer support in case transactions are stuck

If your transactions are stuck you can reach out to Pay2Home’s customer service a few different ways any day of the week. You can reach them on weekdays between 9am-7pm at 6372 2474 or anytime by email at You can also walk into the different branches across the city on the during the week and on Saturday and Sunday as well.⁶

When you’re trying to send money around the world, get yourself a partner that is truly global and cheaper. With Wise you can send money to 50+ countries and do so on average 12x cheaper than the banks.

The true cost of international transfers with Pay2Home

So how much would it cost you to use Pay2Home versus other providers? Let’s take a look. Using the same S$ 1,000 transfer example from earlier, let’s compare it to TransferWIse’s fees for the same amount and to the same countries.

Singapore to...Pay2Home feeWise fee
AustraliaS$ 20S$ 4.87
MalaysiaS$ 9S$ 6.57
IndonesiaS$ 7S$ 6.39
ChinaS$ 10S$ 14.64

While Pay2Home is quite competitive in fees, Wise is cheaper in its fees, especially to Australia and Malaysia. Pay2Home is cheaper when it comes to transferring money to China and Indonesia.

Now if we look at the exchange rate, Pay2Home sets its own exchange rate which differs from the transparent mid-market exchange rate. The mid-market exchange rate is the rate you see on Google or Reuters and is the same one Wise uses. So what Pay2Home does is actually set your exchange rate to be weaker than the mid-market rate to take a slice of profit off of every conversion. That means more money out of your wallet.

A cheap, fast and transparent alternative: Wise

While Pay2Home can look like a good partner for remittances, in actuality it may be more expensive and slower than it appears. Wise has lower fees for regular-sized transfers and will always give you the transparent mid-market exchange rate.

There are no extra or hidden markup charges here. On top of that, Wise can be faster in many regular transactions. Wise has an award-winning app to make transfers seamless and fast. Plus, with a process that doesn’t require going to a bank, you can quickly join the 6 million users around the world that choose Wise for global money transfers.

Sources used for this article:
  1. Opening an account
  2. Charges & Fees
  3. Transfer Limit
  4. Transfer Time
  5. Status of a Transfer
  6. Customer Service

All sources checked as of 4 May, 2020

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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