Best Way to Send Money from Israel to Singapore
Because banks shouldn't hide your money in spreads.
We expose the real cost of every transfer — the spread, the fees, the delivery time — and rank providers by what actually lands in your recipient's account. No sponsored ordering. Ever.
Which provider is cheapest to send money from Israel to Singapore in 2026?
Hover any card to see exactly what it costs you.
How has the ILS/SGD exchange rate changed recently?
vs Traditional Banks
You save up to SGD 85
on a ILS 3,700 transfer
Wise
BEST RATEBank of America
+5% markup + $35 wire fee
Wells Fargo
+4.5% markup + $25 wire fee
Sending money from Israel to Singapore is fastest and cheapest through digital providers like Wise, Revolut, Remitly, and WorldRemit, which beat traditional banks by 3–8% on exchange rates. Singapore's PayNow system means many transfers land in seconds, especially to DBS or OCBC accounts.
In Singapore, recipients can access funds directly at DBS Bank, the country's largest financial institution. By using Revolut instead of a traditional bank wire, your recipient gets approximately 19 SGD more on a $1,000 transfer — because digital providers pass the real exchange rate directly. Worth knowing about the local currency: Singapore's S$10,000 note, one of the world's highest-denomination banknotes still in circulation, features President Yusof Ishak.
Our verdict: Use a digital provider with mid-market rates and send to a PayNow-linked DBS or OCBC account for the cheapest, fastest delivery.
Step 1: Understand the ILS to SGD Corridor
Before initiating your transfer, it helps to know who uses this route and why. The Israel-to-Singapore corridor is dominated by tech professionals relocating between two major innovation hubs, Israeli expats working in Singapore's financial sector, parents supporting students at NUS or NTU, and business owners paying suppliers or contractors. Volumes are moderate but growing, which means competition among providers is healthy — and that works in your favor when hunting for rates.
Step 2: Identify Hidden Fees Before You Send
Fees come in two forms, and you must check both. The first is the flat transfer fee, which is visible upfront and usually ranges from 0 to 25 ILS depending on the provider. The second — and more dangerous — is the exchange rate markup, hidden inside the rate you're quoted.
- Open Google and search "ILS to SGD" to see the mid-market (real) rate.
- Compare that number to the rate your provider is offering.
- The difference is your true cost — multiply it by your transfer amount to see what you're actually paying.
A "zero fee" transfer with a 4% markup on a 10,000 ILS transfer costs you 400 ILS in disguise.
Step 3: Choose a Digital Provider Over a Bank
Israeli banks like Bank Hapoalim, Leumi, and Discount typically apply exchange rate markups of 3% to 8% on outgoing SGD transfers, plus SWIFT fees of 30–80 ILS and intermediary bank charges that can shave another 15–30 SGD off the recipient's amount. Digital providers cut through this entirely.
- Wise — uses the mid-market rate with a transparent fee, usually the cheapest for transfers under 50,000 ILS.
- Remitly — offers promotional first-transfer rates and economy options for non-urgent transfers.
- Revolut — strong if you already hold a multi-currency account and can convert ILS to SGD when the rate is favorable.
- WorldRemit — competitive for mid-sized transfers with multiple delivery options.
Step 4: Pick Your Speed Tier
Now decide how fast the money needs to arrive. Instant transfers (under 1 hour) cost more but are essential for emergencies, rent deadlines, or property deposits. Economy transfers (1–3 business days) save you 30–60% on the fee and are perfect for recurring family support, tuition payments, or anything you've planned in advance. For most use cases, economy is the smart default — start your transfer two days before the deadline and pocket the savings.
Step 5: Confirm the Recipient's Banking Details
Singapore has one of the most efficient retail payment ecosystems in Asia, and you can use it to your advantage. Singapore's PayNow system enables real-time bank transfers using just a mobile number or NRIC/FIN, and many providers — including Wise and Revolut — deliver directly to PayNow-linked accounts, often within minutes. If your recipient banks with one of the two largest receiving banks in Singapore, DBS Bank or OCBC Bank, the delivery is even smoother — most digital providers can push funds straight into accounts at these institutions without intermediary delays. Ask your recipient for their PayNow ID, full account number, and bank name (DBS, OCBC, UOB, etc.) before you start the transfer form.
Step 6: Be Aware of Regulatory Requirements
Standard banking regulations apply for sending from Israel to Singapore, meaning your provider will run KYC checks and may ask for ID, proof of address, or — for larger amounts — documentation of the source of funds. Have your teudat zehut, a recent utility bill, and (for transfers above roughly 25,000 ILS) supporting documents like payslips or invoices ready before you begin. This is routine; it just slows you down if you're unprepared.
Step 7: Time Your Transfer and Set Rate Alerts
Finally, optimize the timing.
- Avoid transferring on Friday afternoon Israel time or over weekends — markets are thin and rates worsen.
- Tuesday through Thursday during London/Singapore overlap hours typically offer the tightest spreads.
- For amounts above 20,000 ILS, ask your provider about preferential rates — Wise and Revolut both reduce their margin on larger volumes.
- Set a rate alert in Wise or Revolut at 2% above the current rate, then send when it triggers.
One well-timed transfer per quarter can save you more than chasing every promo code.