On April 9th, our pricing will change on all transfers from SGD
We know you'll want to understand exactly how this change affects you, so we've written this post with all the information you'll need to be informed of the changes. Heads up – this post is divided into 2 general sections:
1. Why we’re changing our fees (and why they’re going down on most transfers and up on others)
2. The new fees
If you’re not very interested in the “why”, and you just want to know how the new pricing will affect your transfers, go straight to the new fees.
Why we're changing our fees
We believe sending money to another country should be as cheap as sending an email. Yes, we think it should be free.
We’re not there yet, but that’s what we’re shooting for.
Why most fees are going down
When we opened for business, we based our fees on how much transfers cost us to process.
Since then, we’ve gained a lot of customers, and they've driven our costs down on many transfer amounts and routes. At the same time, we've gotten better at what we do, and that's brought our costs down too.
We’ve used those savings to lower our fees where we can, which means most of you will be able to send money for even less.
Why some fees are going up
Unfortunately, despite our best efforts, some transfers still cost us a little more than we originally estimated.
We’ve raised our fees on those transfers to cover our costs. We know that isn't great news for the people whose fees are going up, and we're sorry about that.
We'll bring those fees back down as soon as we can. (And remember, you can always save a little money by funding your transfer with a bank transfer, rather than a card.)
The new fees
| Price Change | Description | Routes Affected |
|---|---|---|
| Cheaper for almost all amounts | Transfer to these routes are about to get cheaper for you. | AED, AUD, BDT, BGN, BRL, CAD, CHF, COP, CZK, DKK, EGP, EUR, GBP, GEL, HKD, HUF, IDR, ILS, INR, JPY, KRW, LKR, MAD, MXN, MYR, NOK, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, THB, TRY, UAH, USD, VND, ZAR |
| Some amounts cheaper and some more expensive | Transfer to these routes will see some prices go up, and others go down depending on how much you send. | CLP, NGN |
| No change at all | CNY, NPR, KES |
To read more about transfers from SGD, visit our SGD transfers page
What is the fee for each route?
| Route | Old Pricing | New Pricing |
|---|---|---|
| SGD to AED | S$5 + 0.9% | S$3 + 0.75% |
| SGD to AUD | S$2 + 0.4% | S$1.7 + 0.35% |
| SGD to BDT | S$5 + 1.1% | S$3 + 1% |
| SGD to BGN | S$3 + 1.4% | S$1.5 + 0.6% |
| SGD to BRL | S$4 + 1.3% | S$3 + 1.3% |
| SGD to CAD | S$3 + 0.4% | S$1 + 0.35% |
| SGD to CHF | S$4 + 0.4% | S$2 + 0.35% |
| SGD to CLP | S$13 + 1.4% | S$5 + 1.7% |
| SGD to CNY | S$5 + 1.5% | S$5 + 1.5% |
| SGD to COP | S$7 + 3.9% | S$7 + 2.65% |
| SGD to CZK | S$3 + 0.4% | S$1+ 0.4% |
| SGD to DKK | S$2+ 0.4% | S$1+0.35% |
| SGD to EGP | S$4 + 0.8% | S$2 + 0.6% |
| SGD to EUR | S$2 + 0.4% | S$1 + 0.35% |
| SGD to GBP | S$2 + 0.4% | S$1 + 0.35% |
| SGD to GEL | S$5 + 1.0% | S$2 + 0.65% |
| SGD to HKD | S$4 + 0.7% | S$1.50 + 0.6% |
| SGD to HRK | S$5 + 1.0% | S$2 + 0.6% |
| SGD to HUF | S$3 + 0.4% | S$1.5 + 0.35% |
| SGD to IDR | S$2 + 1.0% | S$1.5 + 0.6% |
| SGD to ILS | S$5 + 1.0% | S$4 + 1% |
| SGD to INR | S$2 + 0.6% | S$0.5 + 0.5% |
| SGD to JPY | S$6 + 0.9% | S$3 + 0.55% |
| SGD to KES | S$3 + 0.7% | S$3 + 0.7% |
| SGD to KRW | S$4 + 1.5% | S$3 + 1.2% |
| SGD to LKR | S$4 + 1.5% | S$1.5 + 0.7% |
| SGD to MAD | S$6 + 1.0% | S$4 + 1% |
| SGD to MXN | S$3 + 0.6% | S$1 + 0.6% |
| SGD to MYR | S$3 + 0.7% | S$2.5 + 0.5% |
| SGD to NGN | S$3 + 0.5% | S$1 + 0.55% |
| SGD to NOK | S$2 + 0.5% | S$1 + 0.4% |
| SGD to NPR | S$2.5 + 1% | S$2.5 + 1% |
| SGD to NZD | S$2 + 0.5% | S$1 + 0.4% |
| SGD to PEN | S$8 + 1.4% | S$6 + 1.3% |
| SGD to PHP | S$6 + 0.8% | S$4 + 0.65% |
| SGD to PKR | S$4 + 0.7% | S$3 + 0.45% |
| SGD to PLN | S$2 + 0.7% | S$1 + 0.4% |
| SGD to RON | S$4 + 0.8% | S$3 + 0.5% |
| SGD to RUB | S$6 + 1.1% | S$4 + 0.8% |
| SGD to SEK | S$2 + 0.6% | S$1 + 0.35% |
| SGD to THB | S$6 + 0.9% | S$4.5 + 0.5% |
| SGD to TRY | S$6 + 2.0% | S$3 + 0.6% |
| SGD to UAH | S$2 + 2.5% | S$2 + 1.35% |
| SGD to USD | S$3 + 0.4% | S$2 + 0.35% |
| SGD to VND | S$7 + 1.4% | S$2 + 0.8% |
| SGD to ZAR | S$25 + 0.6% | S$23 + 0.55% |
What about borderless accounts?
Depending on what you do in your borderless account, the fee is different:
- Moving balance from one currency to another within borderless has the variable fee that you would get for a normal money transfer for that route. The fixed fee isn’t included.
- Pay-out has only a fixed fee component, determined by the target currency.
What are the fees for using a card?
If you pay by debit card, the fee is still 1.5%.
Log in to use the calculator or check our pricing page to see how the changes will impact the transfers you make.
TransferWise is the smart, new way to send money abroad.
Find out more
Introducing jars — a new way to help you save for the future
It wasn’t easy coming up with a name for the new TransferWise feature that lets you set aside money in any currency to use in the future. We played around...
TransferWise for Banks enters Australia with digital bank Up
We’re excited to announce our partnership with one of Australia’s top digital banks, Up. Starting today Aussies will be able to make cheaper, faster transfers...
TransferWise for Business now syncs with QuickBooks
You can now connect your TransferWise business multi-currency account with QuickBooks — the most requested accounting tool. This means your business activity...
Introducing AUD Direct Debit
Set up Direct Debits to pay bills and subscriptions across Australia.
We’re launching AUD Direct Debit for your business
TransferWise is launching Direct Debits for businesses, from your AUD balance.
Konnichiwa! Instant transfers have landed in Japan.
At TransferWise, we always put our customers first. That means really listening to feedback on how we can do better. Really. So when you told us transfers...
