Learn how recommended service providers like XE Money not only ease the transfer process for you but also makes it convenient just in time for your recipient to receive it.

About SGD and IDR

Initially, sending money abroad was difficult due to the numerous intermediaries that were involved in the process. Before you know it, your money could have gone through more than 5 hands just trying to get to your recipient. Even worse was the manual paperwork that proved so cumbersome as opposed to the new automated systems. Sending money from Singapore to Indonesia was highly affected by this and many migrants could not receive their money either on time or at low cost.

Contrary to all these, modern era has seen to it that your transfer can be made fast and at a cheaper cost thanks to the various service providers that have come up in the market. Here at Exchange Rate IQ, we reveal all about them and what makes them so special.

Best way to send money from Singapore to Indonesia

When sending money from Singapore to Indonesia, you want to consider costs that you will be charged by your service provider. This is because most, as well as other institutions, charge highly for this transfer. You also have to be keen on the rates that you are offered as they may have a huge impact on your transfers.

Some of the cheapest ways to send money to Indonesia from Singapore include:

Instarem with its headquarters based in Singapore, it is the best company to use when sending money to Indonesia. It offers the best rates in the market and can help you remit money either as cash or into the bank account of Indonesia. The Instarem Mass Pay helps in managing bulk payments to multiple beneficiaries in multiple currencies. Even better is the fact that it has no maximum transfer limit. Instarem is a true game changer and a good choice when sending your money from Singapore to Indonesia.

WorldRemit: It also has one of the best exchange rates in the industry when sending your money from Singapore to Indonesia. WorldRemit offers low transfer fees for different transfers, whether personal or business transfers. In addition to that, it offers a choice of payment options including via your online account, through your bank account or as cash. You also get to enjoy no limit on the minimum amount of money you can transfer with them, solidifying the fact that they can be used for multiple purposes.

TransferWise: TransferWise has eliminated middlemen in its operations and made it easier for you to interact with your recipient on a peer to peer connection. It therefore has an easy to use platform through which you can maneuver and get your way around it easily. It is highly affordable when it comes to its service costs and also offers a high daily transfer limit that can be conveyed fast and securely to Indonesia.

Other options of sending your money from Singapore to Indonesia

You can also use other direct cash transfer service providers to send your money from Singapore to Indonesia. Such are like XendPay, Skrill, Western Union and MoneyGram.

3 ways to get the most of your remittances from Singapore to Indonesia

What makes the difference between a good service provider that has your best interest at heart and a mediocre one that is just trying to rip you off your money?

1. Service costs: In these modern times, it is not fair to be charged highly on making your transfers from Singapore to Indonesia. Gone are the days when the process was hectic, today, it is easier therefore should be more affordable for all senders.
2. Exchange Rates: Always make sure that the SGD-IDR exchange rate margin is low as this will enable you to get the most out of your transfers.
3. Turnaround time: The speeds of transfer and the time it takes for your money to reach its destination can be the difference between life and death during emergencies or timely payments. It can make or break a good deal.