SingX international money transfers

SingX is an international money transfer (IMT) service that started in 2014 in Singapore but has since expanded operations to Hong Kong and Australia. Founded by a group of former bankers, SingX aims to shake things up in the payments space by focusing on cheaper, faster and more convenient remittances for individuals and businesses.

Here in Australia, SingX is authorised and regulated by ASIC and AUSTRAC, offering competitive money transfers through its wholly owned subsidiary, SingX Australia Pty Ltd.

SingX Foreign Exchange rates

Rates and fees verified as correct at 29 May 2024. Other information correct at the time of writing. Advertiser disclosure.

With SingX, you can send money from Australia to over 30 countries in more than 15 different currencies. At Mozo, we can help you compare today’s exchange rates with SingX for a range of currencies. Just scroll to the table below, type in your transfer amount and select where you’re sending your money - and our nifty tool will give you an instant result.

Currency At today's SingX Rate, 1 AUD buys* Indicative amount transferred for 10,000 AUD
Mozo logo Canadian Dollars (CAD)
CAD0.9031 CAD 9,031
Mozo logo Euros (EUR)
EUR0.6099 EUR 6,099
Mozo logo Great Britain Pounds (GBP)
GBP0.5179 GBP 5,179
Mozo logo Hong Kong Dollars (HKD)
HKD5.1682 HKD 51,682
Mozo logo Indonesian Rupiah (IDR)
IDR10735.8315 IDR 107,358,315
Mozo logo Indian Rupee (INR)
INR55.3958 INR 553,958
Mozo logo Japanese Yen (JPY)
JPY104.3077 JPY 1,043,077
Mozo logo Sri Lankan Rupee (LKR)
LKR200.1626 LKR 2,001,626
Mozo logo Malaysian Ringgit (MYR)
MYR3.1264 MYR 31,264
Mozo logo New Zealand Dollars (NZD)
NZD1.077 NZD 10,770
Mozo logo Philippine Peso (PHP)
PHP38.8372 PHP 388,372
Mozo logo Singapore Dollars (SGD)
SGD0.8926 SGD 8,926
Mozo logo Thai Baht (THB)
THB24.3739 THB 243,739
Mozo logo United States Dollars (USD)
USD0.6612 USD 6,612
Mozo logo South African Rand (ZAR)
ZAR12.1368 ZAR 121,368
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Must knows about transferring money with SingX

When sending money overseas with SingX, there are a few key details to keep in mind: 

  • Exchange rate and fees: In most cases, especially for stable and popular currencies, SingX gives their customers the mid-market or interbank exchange rate (the rate you see on Google). A transaction fee of up to 0.5% is then charged on top of that mid-market rate. However, additional fees may apply if you’re trading in less common or more volatile currencies. SingX may charge an exchange rate mark-up (a margin on top of the mid-market rate) and/or a flat fee, and you could also be subject to third-party transaction fees.
  • Transfer limits: The minimum amount per transfer is AU$1 and there are no maximum limits. Just bear in mind that because SingX charges a percentage-based transaction fee, larger transfers could be more costly.
  • Transfer speed: Transfers usually take 1-2 working days to reach SingX. Once they’ve received your funds, the money should arrive in your recipient’s account in another 1-2 working days’ time, depending on the speed of internet banking transfers in the receiver's country.
  • Payment methods: SingX accepts online bank transfers or POLi payments. However, credit card transactions and cash pick-ups are not supported.
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SingX Products and Services

It can be tricky navigating the world of IMT, but the good news is, SingX offers a range of nifty features that can help with your money transfer, whether you’re making a single transaction overseas or setting up monthly payments to suppliers abroad.

Recurring transfers

Paying bills to contractors overseas? If you’re looking to transfer funds to the  same recipients on a regular basis, SingX can help. While SingX doesn’t accept standing orders, it does store all the bank account information of previous receivers. So if you wish to send money to the same recipient, there’s no need to re-enter any of those details. Instead, the process is as easy as pressing the ‘Re-book’ button next to an old transaction, checking the exchange rate and confirming the transfer. 

Multiple accounts in one 

SingX makes it possible for customers to send money from more than one bank account. You can add as many bank accounts as you’d like to your SingX account, as long as they are all under your name. 

Rate alerts 

To help you stay on top of your target currency and take advantage of favourable exchange rates, SingX offers two types of rate alerts: one when the rate hits your target value, and another when the rate is at a two-week high. Registered users can choose to receive alerts via both email and SMS, and they can set a maximum of one rate alert for each currency pair.

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Why use SingX for IMT?

When it comes to picking a money transfer provider, you’ll find yourself spoiled for choice. But here are some of the reasons why SingX is worth considering: 

  • Offers the mid-market rate, so it’s more competitive than the big banks
  • Transparent about its fees - no nasty surprises!
  • No transfer limit per transaction
  • Wave goodbye to heaps of paperwork, and say hello to online convenience - internet transfers are available 24/7
  • Safety is a big focus - SingX is fully licensed and regulated by ASIC, and just like the banks, it implements a host of security measures including a two-step authentication process
  • Any questions or concerns? Contact their customer service team via email or ‘Live Chat’ (12am-9pm on weekdays), and they’ll help you out
  • Be in the know - you can set up rate alerts with SingX for free, to stay up-to-date with the latest currency movements.

Just beware that: 

  • All transactions come with a fee - usually up to 0.5% of the mid-market rate
  • You can’t make cash, cheque or credit card transfers
  • SingX has no branches for face-to-face transactions or customer service
  • The bank at destination may also charge you a third-party transaction fee
  • Exchange rates on the SingX website are subject to change until you officially lock in your transaction, even if it’s on the same day you make your transfer
  • If your transaction fails, the money will be returned to the bank account you used for the transfer, although some transaction charges could apply.
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How to sign up and transfer money with SingX

Signing up with SingX is free and done through the website. Your personal account will be activated instantly once you’ve provided personal details (e.g. name, date of birth, address) and two identification documents (driver’s licence, medicare number or passport) for verification purposes. For businesses, it’ll take about one working day before your account is activated. 

As for sending money overseas with SingX, it takes just three easy steps after signing in: 

  • Enter your transaction details including the amount and currency you’d liked to send
  • Add in your sender and receiver bank details
  • Make a local funds transfer to SingX via online banking or POLi - they’ll then handle the rest!

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*The exchange rates offered by each provider are indicative exchange rates that have either been supplied by each provider or gathered by Mozo. Exchange rates fluctuate constantly and as a consequence the exchange rates listed here may vary to the actual exchange rate you are quoted by a provider. Please ensure you confirm the actual exchange rate with the relevant provider prior to conducting any transaction. These exchange rates are updated every hour.