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Transferring money to Singapore bank account...

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Jenn5000
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Transferring money to Singapore bank account...

Postby Jenn5000 » Fri, 21 Nov 2014 1:05 pm

Canadian expat currently living in Japan, relocating to Singapore in coming weeks. What is the best/easiest way to transfer funds (Yen) to a Singaporean bank, and do I need to be living in Singapore before I open an account there or can this be done ahead of time? Thanks!

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ecureilx
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Re: Transferring money to Singapore bank account...

Postby ecureilx » Fri, 21 Nov 2014 4:00 pm

Jenn5000 wrote:Canadian expat currently living in Japan, relocating to Singapore in coming weeks. What is the best/easiest way to transfer funds (Yen) to a Singaporean bank, and do I need to be living in Singapore before I open an account there or can this be done ahead of time? Thanks!


you need to be here to open an account in a local bank

however, check with Citi if you can use you JP account here, as I recall they don't charge for ATM withdrawals !

Jenn5000
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Re: Transferring money to Singapore bank account...

Postby Jenn5000 » Sat, 22 Nov 2014 10:50 am

Great, thanks for the info!

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zzm9980
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Re: Transferring money to Singapore bank account...

Postby zzm9980 » Sat, 22 Nov 2014 3:04 pm

If it is frequent, Citibank accounts in both locations is the easiest (and fastest) way to do it. It's also one of the better priced options, as they won't charge you a few but will instead just make some money off the exchange rate. On USD <-> SGD Citi tends to charge about .5-1% off the daily exchange rate. There will likely be something cheaper, but it won't be nearly as convenient.


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