|MONEY TRANSFER ABROAD||BookMyForex. com||Other Forex providers*|
|Bank Charges||₹ 225 ZERO||₹ 1000|
|OVERALL HIDDEN CHARGES||₹ 0||₹1200|
|* Other Forex providers include Online and offline companies. BookMyForex.com charges a Bank Fee of Rs. 225 which is paid back to the customer as cash back post order completion. Beneficiary's bank or intermediatory banks overseas may apply additional charges to customers as per local arrangement or inter-bank arrangements|
Live and transparent transfer rates displayed 24x7. Options to lock-in your rate for as much as 3 days. Rate alerts to notify you when your desired rates are available.
All transfers are processed within 24 working hours after receipt of the funds & documents. Funds received by the beneficiary abroad within 24 hours at no extra cost.
Book your order online and schedule a document pick up. We will pick up the documents from your home/ office at absolutely zero cost. Alternatively you can visit a bank branch to submit your documents.
BookMyForex waives off all sending charges associated with processing wire transfers. While banks typically charge between Rs. 500 - Rs. 2,500, with BookMyForex you pay absolutely ZERO.
Over ₹ 1,600 crore in Forex Transactions Processed
Singapore is a very young, modern country and an international business hub. Being an important centre of business in Asia, it attracts a lot of expats from other countries as well as students who want to pursue higher education in some of the world's renowned universities like NUS and NTU, among them Indians too. So Indians transfer Singapore Dollar from India for educational reasons as well as maintenance of their close relatives in Singapore. Singapore's healthcare is also world famous and this means medical tourism boom. Indians travel to Singapore for accessing these medical facilities and hence people send money to Singapore from India to meet their medical expenses.
You need to ensure that you get best currency exchange rates for an international wire transfer from India and your money should reach in the fastest time possible. With BookMyForex.com you get guaranteed best rates when you transfer money to Singapore from India and this transfer is done in 4-48 working hours. You also have the best customer support available on all social media channels as well as on call and email to guide and keep you updated on your international money transfer to Singapore.
You have two ways to Send money to Singapore from India :
1: Wire Transfer from India to Singapore (Swift Transfers)
2: Demand Drafts (money orders)
Wire-transfer is the easiest and best way to transfer money to Singapore from India. Though wire transfer to Singapore is actually done by banks, it is cheaper to use the services of companies since like BookMyForex. These online marketplaces will get you a better rate on your wire transfer to Singapore than banks. However, wire-transfers can be expensive. As Banks in India charge anywhere from Rs. 500 to Rs. 1000 to process it. Moreover, most foreign banks that receive the money also charge a foreign correspondent fee ranging from SGD 10 to SGD 40. But with BookMyForex you don't have to pay the Bank charges or margins when you do an online wire transfer from India to Singapore.
You can send money to Singapore through foreign currency demand drafts. Demand Drafts are physical paper drafts, issued in a specific foreign currency instead of a sending to a specific recipient. Demand draft is much cheaper than a wire-transfer to Singapore. You have to pay just the demand draft fee to your bank or service provider. There is no need to pay any fee to the foreign bank receiving the money. This helps you save a lot of money.
However, the problem with demand drafts is that the process takes much longer to transfer money to Singapore. It can take longer for the recipient to receive the money because you have to mail the demand draft physically. Once they receive it, it takes few days to en-cash the demand draft. The total number of days combined creates a large gap (maximum up to 10 days) in actually receiving the funds. So demand drafts work out better if there is no emergency. If you need to transfer money to Singapore from India on a planned basis with sufficient notice, use demand drafts.
According to RBI’s LRS policy Indians can send up to $2,50,000 or its equivalent per year per person abroad to Singapore. If you want to Send Singapore Dollars then it is around 34200 SGD per year per person. (Note: Currency rates fluctuate so this number can change)
You can send money to Singapore from India for the following 8 reasons:
1: Studies abroad
2: Business Trip
3: Medical Treatment Abroad
4: Maintenance of close relatives abroad
6: Going Abroad on Employment
7: Gift or Donation
8: Private Visits abroad
- Beneficiary Bank Name, Swift Code, Routing number & Correspondent Account No.
- Beneficiary Name, Address (as given in bank)
- Remitter Name, Account Number and Purpose of Transaction with KYC.
- Filled A2 Form cum declaration with signature
Note: Same documentation is required when you Send SGD via a demand draft to Singapore
You need following documents to Send Money To Singapore:
- Original and valid passport
- Valid visa for the country of travel (except where VISA on arrival applies)
- Confirmed ticket-showing travel within 60 days of taking foreign exchange
- PAN (Form 60/61 in case PAN missing)
- Apart from this KYC of sponsoring company would be required as per RBI guidelines
—Smarter, Faster & Most Trusted Way to do Wire Transfer Online to Singapore.
- Send Money Online to Singapore at the lowest possible rates.
- Best Rate Guarantee – Find us a BETTER RATE & we’ll beat it.
- Fastest Transfers – Book your order online and have your transfer processed in the next 12 – 48 business hours.
- Best customer support, available 24×7 on every Social medium (FB/Twitter/Call/Email)
- There are no foreign transaction fees or hidden charges on Money Transfer Online to Singapore
All foreign currency transactions are subject to Service Tax.
Foreign Exchange and Money Transfer services are available though Tied-up Reserve Bank of India approved Authorized Dealers only. All foreign exchange transactions are subjected to AML/CFT/KYC & FEMA policies instructed by Reserve Bank of India.