How to Transfer Money from Singapore to India?

Are you planning to move to Singapore or are you already in Singapore? As an NRI, one of the concerns is to find a safe and reliable way to send money to India to your family. With the digital revolution however, transferring money from one part of the world to the other has become extremely simple. It is possible to do it in a matter of a few clicks.

Are you looking for ways to do a money transfer to India? This handy guide will help you on how you can transfer money from Singapore to India.

Money transfer services:

Remittance, Telegraphic or Wire Transfer by HDFC Bank:
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HDFC Bank Remittance, Telegraphic or  Wire service is the best channel to transfer funds. Its secure, reliable, and processes your fund transfer in no time. The charges associated with the transfer are reasonable and with competitive exchange rates. 

Once you opt for this service through which you want to send money to India, you have to follow these steps.

Step 1: Register your account:

To send money to India, you need to register an account with a money transfer service. If you are already registered, log in to your account and and add in details for a new remittance.

Step 2: Add a beneficiary

To make a money transfer to India, you need to add the beneficiary. Most money transfer services require details such as name of the beneficiary, mode of transfer, bank account details, address etc.

Step 3: Check the exchange rates and transfer fees

Each money transfer service will have a different exchange rate and different fees associated with the transfer. For example, Transferwise charges SGD 6.23 per SGD 1,000 for transfer whereas HDFC Bank QuickRemit has no transfer charges for transfers above SGD 1,000. Each money transfer service will also have a different exchange rate.

Step 4: Input the amount you want to transfer and the mode of transfer

The amount you transfer will depend on how much your family needs and also the charges associated with it. Most places have a lower transfer fee for higher transfers. Some money transfer services like HDFC Bank QuickRemit offers a direct credit or deposit to the recipient’s bank account for a seamless bank transfer.

Step 5: Submit details for the fund transfer

Once the details are submitted, the money transfer service transfers it to the recipient depending on the mode of transfer. Be sure to check the time taken for the transfer as well.

Looking to transfer funds from Singapore to India? Click here on QuickRemit to help you!

* The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.