Singapore Expats Forum

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

Post here for survey, questionnaire or poll for our expat members.

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
Member
Member
Posts: 20
Joined: Fri, 26 May 2017

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

Postby jesa01 » Wed, 14 Jun 2017 1:45 pm

Strong Eagle wrote:
Mate, it's simple arithmetic. You want to send X dollars. You add up the fees and the FX rate and choose the lowest. Who cares how they break up the amount they are going to whack you for?


Agree. I guess I would add to my point if other factors would change their behaviour.

There are consumers that behave in a slightly different manner from your very logical analysis, e.g. convenience is a factor for them taking up the "$0 fee" even if they know the FX is not as favourable and they do not mind paying the delta. :)

User avatar
ecureilx
Immortal
Immortal
Posts: 9787
Joined: Fri, 20 Aug 2010

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

Postby ecureilx » Wed, 14 Jun 2017 4:30 pm

jesa01 wrote:
Strong Eagle wrote:
Mate, it's simple arithmetic. You want to send X dollars. You add up the fees and the FX rate and choose the lowest. Who cares how they break up the amount they are going to whack you for?


Agree. I guess I would add to my point if other factors would change their behaviour.

There are consumers that behave in a slightly different manner from your very logical analysis, e.g. convenience is a factor for them taking up the "$0 fee" even if they know the FX is not as favourable and they do not mind paying the delta. :)


errr ... the 0 $ guys aren't that unfavourable, so unless I send like 10,000 or more, the variance so little.

jesa01
Member
Member
Posts: 20
Joined: Fri, 26 May 2017

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

Postby jesa01 » Wed, 14 Jun 2017 4:41 pm

ecureilx wrote:
errr ... the 0 $ guys aren't that unfavourable, so unless I send like 10,000 or more, the variance so little.


Yes, that is why I would like to know why most people prefer DBS remittance transfers.

Their offerings are $0 transfer fees, with money credited latest by next business day, and with not so favourable FX.

Would everything come down to convenience in sending the money?

User avatar
ecureilx
Immortal
Immortal
Posts: 9787
Joined: Fri, 20 Aug 2010

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

Postby ecureilx » Wed, 14 Jun 2017 8:20 pm

jesa01 wrote:
ecureilx wrote:
errr ... the 0 $ guys aren't that unfavourable, so unless I send like 10,000 or more, the variance so little.


Yes, that is why I would like to know why most people prefer DBS remittance transfers.

Their offerings are $0 transfer fees, with money credited latest by next business day, and with not so favourable FX.

Would everything come down to convenience in sending the money?

Wait, what's this "not so favorable fx" ?

For the Zero fee, a minute difference don't matter. So it's not bad at all. And not unfavorable at all.

User avatar
Wd40
Director
Director
Posts: 3829
Joined: Tue, 04 Dec 2012
Location: SIndiapore

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

Postby Wd40 » Wed, 14 Jun 2017 8:33 pm

I can't believe​ this thread is still going on.

Sent from my Redmi Note 4 using Tapatalk

User avatar
Strong Eagle
Moderator
Moderator
Posts: 10563
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

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

Postby Strong Eagle » Wed, 14 Jun 2017 9:39 pm

Wd40 wrote:I can't believe​ this thread is still going on.

Sent from my Redmi Note 4 using Tapatalk


Someone is trying to convince us there are advantages to paying more.

User avatar
Max Headroom
Reporter
Reporter
Posts: 602
Joined: Wed, 08 May 2013
Location: Singapore
Contact:

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

Postby Max Headroom » Thu, 15 Jun 2017 8:20 am

And it looks like it may get longer still; I just came across this:

https://www.circle.com/sg/

Does anyone here have any experience with this outfit?

User avatar
ecureilx
Immortal
Immortal
Posts: 9787
Joined: Fri, 20 Aug 2010

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

Postby ecureilx » Thu, 15 Jun 2017 9:39 am

Strong Eagle wrote:
Wd40 wrote:I can't believe​ this thread is still going on.

Sent from my Redmi Note 4 using Tapatalk


Someone is trying to convince us there are advantages to paying more.


Aint that the truth :D

Oh, Max Head Room, don't see SGD in the link !

jesa01
Member
Member
Posts: 20
Joined: Fri, 26 May 2017

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

Postby jesa01 » Thu, 15 Jun 2017 9:43 am

Strong Eagle wrote:
Wd40 wrote:I can't believe​ this thread is still going on.

Sent from my Redmi Note 4 using Tapatalk


Someone is trying to convince us there are advantages to paying more.


LOL

Not trying to convince anybody... just wanting to understand behaviours... O:)

jesa01
Member
Member
Posts: 20
Joined: Fri, 26 May 2017

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

Postby jesa01 » Thu, 15 Jun 2017 10:04 am

ecureilx wrote:
Strong Eagle wrote:
Wd40 wrote:I can't believe​ this thread is still going on.

Sent from my Redmi Note 4 using Tapatalk


Someone is trying to convince us there are advantages to paying more.


Aint that the truth :D

Oh, Max Head Room, don't see SGD in the link !



LOL... Seriously guys, I just want to understand the customer behaviours... Consumers are spoilt for choice in this market so I really want to know why you choose to use that service over another when from an outside perspective, all the offerings looks the same.

Side note, am actually quite excited to see the apple pay peer to peer in action... Any body interested to try apple pay peer to peer here?

@Max Head Room - Thanks for this link... it looks quite interesting...

jesa01
Member
Member
Posts: 20
Joined: Fri, 26 May 2017

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

Postby jesa01 » Fri, 15 Sep 2017 4:57 pm

Any body saw the $0 Transfer fee ads from Western Union if you use SAM kiosk?

User avatar
ecureilx
Immortal
Immortal
Posts: 9787
Joined: Fri, 20 Aug 2010

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

Postby ecureilx » Fri, 15 Sep 2017 6:54 pm

jesa01 wrote:Any body saw the $0 Transfer fee ads from Western Union if you use SAM kiosk?
SAM?

Sing post?

Overseas call centres?

No thanks.

Had enough trauma with Sing post and SAM..

Have you tried it?

jesa01
Member
Member
Posts: 20
Joined: Fri, 26 May 2017

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

Postby jesa01 » Sun, 17 Sep 2017 12:02 pm

ecureilx wrote:SAM?

Sing post?

Overseas call centres?

No thanks.

Had enough trauma with Sing post and SAM..

Have you tried it?


the recent #neilhumphreys-gate was LOL!!

I did use it today, you just need to register first at their Post Office or at the roadshow they have at Paya Lebar Square, then add your receivers.

Sending at SAM was quite fast. Took me around 3 - 5 min at the kiosk I think, and the Western Union transfer fee was really FREE!

What was your trauma with SAM? :-k
I thought the new SAM kiosk looked quite good, and was pretty straight forward. I had not tried the other services though.

User avatar
ecureilx
Immortal
Immortal
Posts: 9787
Joined: Fri, 20 Aug 2010

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

Postby ecureilx » Sun, 17 Sep 2017 1:57 pm

jesa01 wrote:What was your trauma with SAM? :-k
I thought the new SAM kiosk looked quite good, and was pretty straight forward. I had not tried the other services though.


If all goes well, sing post is great.

Try getting help, if something goes wrong, you seriously consider committing suicide.

Example. Their Mail re direct had problem and asked help as all mails were still going to the older address

Solution by the then Philippine call centre?

Can we arrange a refund? You can request the old address to hold your mails.

Excellent idea. Great service, right? So who is the other postal company in Singapore?

Another one. Transaction done by SAM. Payment not received by the other party.

Quoted receipt no, date, time.

The call centre requested proof that the other party produce proof the payment was not received..

As the SAM machine I used doesn't show any transaction of the amount at the time.

So who took my money? And who printed out the receipt?

Don't get me started on the registered and parcels.

Even when the door is open they will chuck the note saying you are not at home.

Maybe SOP doesn't include ringing the bell.

jesa01
Member
Member
Posts: 20
Joined: Fri, 26 May 2017

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

Postby jesa01 » Sun, 17 Sep 2017 3:36 pm

ecureilx wrote:If all goes well, sing post is great.

Try getting help, if something goes wrong, you seriously consider committing suicide.

Example. Their Mail re direct had problem and asked help as all mails were still going to the older address

Solution by the then Philippine call centre?

Can we arrange a refund? You can request the old address to hold your mails.

Excellent idea. Great service, right? So who is the other postal company in Singapore?

Another one. Transaction done by SAM. Payment not received by the other party.

Quoted receipt no, date, time.

The call centre requested proof that the other party produce proof the payment was not received..

As the SAM machine I used doesn't show any transaction of the amount at the time.

So who took my money? And who printed out the receipt?

Don't get me started on the registered and parcels.

Even when the door is open they will chuck the note saying you are not at home.

Maybe SOP doesn't include ringing the bell.


How long ago was the SAM thing? I did hear of some issues with their old Remittance service that was in the old SAM Machine.

I hope there won't be any issues with what I sent earlier... :(

I did experience that card chucking too, that's why I try to use other delivery companies whenever I shop online, where possible. And knowing the experience of the information black hole that is the Call Centres... ](*,)


  • Similar Topics
    Replies
    Views
    Last post

Return to “Surveys”

Who is online

Users browsing this forum: No registered users and 0 guests