Singapore Expats Forum

Getting money into singapore

Discuss the different banking options, rates, offers and perks.
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aaraar
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Getting money into singapore

Post by aaraar » Thu, 04 Sep 2014 12:04 am

how can I get money into Singapore and deposit in my bank
1. carry it physically every time I travel here?
2. western union/moneygram/paypal it
3. others?

thank you

CaptainBullus
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Post by CaptainBullus » Thu, 04 Sep 2014 12:38 am

Yes to all of those.

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zzm9980
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Post by zzm9980 » Thu, 04 Sep 2014 1:00 am

CaptainBullus wrote:Yes to all of those.
+1

Cheapest way is to bring it into the country, change it a money changer at Raffles Place, and then deposit it.

Second cheapest is to transfer it via a bank where you have accounts in both countries. For example, Citibank, HSBC, StanChart.

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Wd40
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Post by Wd40 » Thu, 04 Sep 2014 2:33 pm

Depends on the amount and depends on the country from which you want to bring. For example, some countries have capital controls on how much you can carry in cash out of the country.

bgd
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Post by bgd » Thu, 04 Sep 2014 3:10 pm

If you are transfering a reasonable amount there are plenty of companies that will give you better rates than your bank. I used to use a company called HiFX. It is UK based, there are others that might be better depending on what currency you are transferring.

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QRM
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Post by QRM » Thu, 04 Sep 2014 3:22 pm

Gold, there are no restrictions on bringing in Investment Precious Metals (IPM), though check what actually is defined as IPM.

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JR8
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Post by JR8 » Thu, 04 Sep 2014 6:46 pm

QRM wrote:Gold, there are no restrictions on bringing in Investment Precious Metals (IPM), though check what actually is defined as IPM.
There's no restriction in bringing in cash either, just a threshold beyond which you are required to declare it.

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