SURVEY: What remittance services do you use to send money out of Singapore?

[jesa01]

Hi there

I'm curious to find out what remittance services you are using to send money out of Singapore and if you could tell me what other company/remittance houses you may be using other than the ones listed in the poll?

Thank you!
Jesa

[Max Headroom]

You forgot option E - None, because they're all a rip-off.

There are quite a few disruptors brewing here as well, just waiting for critical mass. Once that happens, power will return to the end user.

[Wd40]

ICICI MoneytoIndia
DBS IndiaRemit

Sent from my Redmi Note 4 using Tapatalk

[rajagainstthemachine]

ICICI MoneytoIndia
DBS IndiaRemit

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whats SBI remit like?

[Wd40]

ICICI MoneytoIndia
DBS IndiaRemit

Sent from my Redmi Note 4 using Tapatalk

whats SBI remit like?

No clue. Never used them.

Sent from my Redmi Note 4 using Tapatalk

[Max Headroom]

Let me add one more word to - hopefully - speed up the demise of the incumbents: Bitcoin.

Thank you.

[jesa01]

Let me add one more word to - hopefully - speed up the demise of the incumbents: Bitcoin.

Thank you.

Do you use Bitcoins now to send money to your family or friends overseas? Agree that this will be the future, but the popularity of usage of bitcoins seem to me as pretty low.

Or mayby I'm just abit of a techno hermit. LOL

[Max Headroom]

Sure, it has by no means reached critical mass yet. But that doesn't mean you can't make remittance savings right now by using it.

[jesa01]

ICICI MoneytoIndia
DBS IndiaRemit

Sent from my Redmi Note 4 using Tapatalk

whats SBI remit like?

this would be a type of bank transfer, im guessing...

[jesa01]

ICICI MoneytoIndia
DBS IndiaRemit

Sent from my Redmi Note 4 using Tapatalk

would these me you primary means of sending money overseas?

[jesa01]

Sure, it has by no means reached critical mass yet. But that doesn't mean you can't make remittance savings right now by using it.

I have not seen any bitcoin channels in Singapore for me to start using it to send money overseas. I'm sure it will catch on within the next few years if not sooner. It would be exciting to see what these incumbents will do facing such tough competition and other forward looking disruptors.

[Max Headroom]

You don't really need a "channel". All you need is for sender and receiver to have a Bitcoin wallet. You can then pass Bitcoins to and fro at will and at low cost.

That said, Bitcoin is now about where internet was in 1998; the basics are there and it works, but there's a few roller coaster rides to go through before it's mainstream.

[Hidy Ho]

You don't really need a "channel". All you need is for sender and receiver to have a Bitcoin wallet. You can then pass Bitcoins to and fro at will and at low cost.

That said, Bitcoin is now about where internet was in 1998; the basics are there and it works, but there's a few roller coaster rides to go through before it's mainstream.

Do you have any personal experience in converting SGD to Bitcoins, transfer to someone else and have them convert that back to their local currency (say, Indian Rupees or USD)? How's that work and how much do you lose (or gain) on the exchange rate in conversion? How do you ensure that the exchange rate represents fair market rate?

[PNGMK]

I met some guys from Pay2Home at the last AustCham event. They seem to have it worked out for lower costs - their target is work pass holders, seamen etc.

[ecureilx]

I met some guys from Pay2Home at the last AustCham event. They seem to have it worked out for lower costs - their target is work pass holders, seamen etc.

Pay2Home Is NOT cheap, vs other options, example, Philippines.

Their main convenience factor for me was their online payment, saving you time to visit their outlet.

Now they have ATM style kiosks to initiate a transfer any time.