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

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

Western Union
0
No votes
MoneyGram
0
No votes
Bank Transfers
3
75%
Other Remittance Houses
1
25%
 
Total votes: 4

jesa01
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SURVEY: What remittance services do you use to send money out of Singapore?

Postby jesa01 » Fri, 26 May 2017 11:08 am

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

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

Postby Max Headroom » Sat, 27 May 2017 8:46 am

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.

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Wd40
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Re: SURVEY: What remittance services do you use to send money out of Singapore?

Postby Wd40 » Sat, 27 May 2017 9:19 am

ICICI MoneytoIndia
DBS IndiaRemit

Sent from my Redmi Note 4 using Tapatalk

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

Postby rajagainstthemachine » Sun, 28 May 2017 2:39 pm

Wd40 wrote:ICICI MoneytoIndia
DBS IndiaRemit

Sent from my Redmi Note 4 using Tapatalk


whats SBI remit like?
To get there early is on time and showing up on time is late

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Wd40
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Re: SURVEY: What remittance services do you use to send money out of Singapore?

Postby Wd40 » Sun, 28 May 2017 5:36 pm

rajagainstthemachine wrote:
Wd40 wrote: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

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

Postby Max Headroom » Mon, 29 May 2017 7:48 am

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

Thank you.

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

Postby jesa01 » Mon, 29 May 2017 12:52 pm

Max Headroom wrote: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

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

Postby Max Headroom » Mon, 29 May 2017 3:13 pm

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.

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

Postby jesa01 » Mon, 29 May 2017 6:16 pm

rajagainstthemachine wrote:
Wd40 wrote: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... :)

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

Postby jesa01 » Mon, 29 May 2017 6:18 pm

Wd40 wrote:ICICI MoneytoIndia
DBS IndiaRemit

Sent from my Redmi Note 4 using Tapatalk


would these me you primary means of sending money overseas?

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

Postby jesa01 » Mon, 29 May 2017 6:26 pm

Max Headroom wrote: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.

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

Postby Max Headroom » Tue, 30 May 2017 7:17 am

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.

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

Postby Hidy Ho » Tue, 30 May 2017 1:49 pm

Max Headroom wrote: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?

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

Postby PNGMK » Tue, 30 May 2017 2:30 pm

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.
I have gay, black, Asian friends and then JR8.

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

Postby ecureilx » Tue, 30 May 2017 10:53 pm

PNGMK wrote: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.


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