Best Way to Send Money from Italy 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 Italy to Singapore in 2026?
Hover any card to see exactly what it costs you.
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vs Traditional Banks
You save up to SGD 110
on a EUR 900 transfer
Wise
BEST RATEBank of America
+5% markup + $35 wire fee
Wells Fargo
+4.5% markup + $25 wire fee
Sending euros to Singapore dollars doesn't have to mean losing 5% to your bank. This step-by-step guide shows you how to compare providers, avoid hidden exchange rate markups, and pick the fastest delivery rail for your recipient.
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 60 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 like Wise or Revolut funded by SEPA debit and deliver via PayNow or directly to a DBS or OCBC account for the lowest total cost.
Step 1: Understand the EUR to SGD Corridor
The Italy-to-Singapore route is dominated by three sender profiles: Italian expats working in Singapore's finance and tech sectors, family members supporting students at NUS or NTU, and small business owners paying suppliers or freelancers. Before you transfer, check the mid-market EUR/SGD rate on Google or XE — this is the "real" rate banks see. Write it down. Every quote you receive afterwards will be compared against this number to spot markups.
Step 2: Identify Hidden Fees Before You Commit
Money transfer costs come in two layers, and you need to inspect both. First, look at the flat fee — typically €1 to €15 depending on the provider. Second, and more importantly, calculate the exchange rate markup. Take the rate the provider offers you, divide it by the mid-market rate, and subtract one. If the result is more than 1%, you are overpaying. Italian banks like Intesa Sanpaolo or UniCredit often hide a 3–5% markup inside the rate while advertising "low fees" — that is the trap to avoid.
Step 3: Choose a Digital Provider Over Your Bank
For this corridor, digital specialists consistently beat traditional banks by 3–8% on the total cost. Compare quotes from Wise, Remitly, Revolut, and WorldRemit side by side using the exact amount you plan to send. Wise tends to win on transparency and mid-market pricing, Revolut works well if you already hold a multi-currency account, Remitly often offers promotional first-transfer rates, and WorldRemit is competitive on smaller amounts. Always run the same EUR amount through at least two of them before deciding.
Step 4: Pick the Right Speed for Your Situation
Most providers offer two tiers. Instant transfers (seconds to a few hours) cost more and are funded by debit card or Apple Pay — use them for emergencies, rent deadlines, or tuition cutoffs. Economy transfers funded by SEPA bank debit take 1–2 business days and are noticeably cheaper. If your recipient does not need the money the same day, always pick the SEPA option. A useful trick: initiate the transfer on a Monday or Tuesday morning Italian time so it lands in Singapore within the same business week.
Step 5: Choose How the Money Lands in Singapore
Singapore's PayNow system enables real-time bank transfers using mobile numbers or NRIC/FIN — many providers deliver directly to PayNow-linked accounts, which means your recipient gets the funds within seconds once the provider releases them. Ask your recipient for their PayNow ID before you start. If they prefer a traditional account number, the two largest receiving banks in Singapore are DBS Bank and OCBC Bank, and most digital providers can deliver directly to accounts at these banks without intermediary fees. Avoid SWIFT-only routes when a local rail option exists — SWIFT typically adds €15–€30 in correspondent bank fees.
Step 6: Confirm the Regulatory Side
Standard banking regulations apply for sending from Italy to Singapore. You will need to verify your identity with the provider (passport or carta d'identità plus a proof of address) on the first transfer. Transfers above €15,000 may trigger additional source-of-funds questions under Italian anti-money-laundering rules — have a payslip or bank statement ready if you are sending a large amount, and keep the receipt for your tax records.
Step 7: Time the Market and Set Alerts
EUR/SGD moves daily, and timing matters more than people think. Set a rate alert on Wise or Revolut at a target rate 0.5–1% above the current spot — you will be notified when to act. For amounts above €5,000, even a 1% improvement saves €50+. As a rule of thumb, midweek mornings in European hours tend to have tighter spreads than Monday opens or Friday afternoons. For recurring transfers (rent, salary remittance), set up a standing order rather than re-quoting every month.
Step 8: Verify and Send
Before clicking confirm, double-check the recipient's full name exactly as it appears on their Singapore bank account, the IBAN or account number, and the SWIFT/BIC if required. A single typo can delay the transfer by days. Save the confirmation email and tracking link — you will need it if anything goes wrong.