Send Money from Singapore to Bangladesh
Compare SGD → BDT exchange rates from top providers
AI Quick Verdict
As of March 26, 2026, the cheapest way to send money from Singapore to Bangladesh is via Wise, costing $4.60 in fees with an exchange rate of 1 SGD = 95.82 BDT. Sending $1,000 delivers BDT 95,383.51 to your recipient in ~1 hour.
Compare SGD → BDT Rates
Best rate — they receive (BDT)
BDT 95,383.51
via Wise
Sending SGD 1,000 to Bangladesh
Updated Mar 26, 06:19 AM
| Provider | Exchange Rate | Fee | Speed | You Send | They Receive | |
|---|---|---|---|---|---|---|
WiseBest rate | 1 SGD = 95.82 BDT | $4.60 | ~1 hour | SGD 1,000 | BDT 95,383.51 | Send → |
RevolutRunner-up | 1 SGD = 95.54 BDT | $5.00 | ~1 day | SGD 1,000 | BDT 95,059.14 | Send → |
Remitly | 1 SGD = 94.39 BDT | $15.00 | ~3 hours | SGD 1,000 | BDT 92,971.13 | Send → |
WorldRemit | 1 SGD = 93.91 BDT | $13.99 | ~6 hours | SGD 1,000 | BDT 92,594.04 | Send → |
* Rates are indicative. Final rate confirmed at provider's checkout. RateCurb may earn a commission if you click and sign up.
7-Day Exchange Rate History
Rate per 1 unit of source currency → BDT
vs Traditional Banks
You save up to $75
on a SGD 1,000 transfer
Wise
BEST RATEBank of America
+5% markup + $35 wire fee
Wells Fargo
+4.5% markup + $25 wire fee
Sending money from Singapore to Bangladesh is faster and cheaper with digital providers than traditional banks. Wise, Remitly, and WorldRemit typically offer 3-8% better exchange rates and lower fees than DBS, Standard Chartered, or OCBC.
Our verdict: Use Wise for the best mid-market exchange rates and transparent fees when sending SGD to BDT, saving 4-6% compared to Singapore banks.
Understanding the Singapore to Bangladesh Money Transfer Corridor
The Singapore to Bangladesh remittance corridor serves hundreds of thousands of Bangladeshi expatriates working in Singapore's finance, healthcare, construction, and service sectors. Many send money regularly to support families, pay education expenses, or invest in property back home. This route has become increasingly competitive in recent years, with both traditional banks and fintech providers vying for market share. Understanding your options can save you significant money on each transfer.
The Hidden Fees Trap: Exchange Rate Markup vs Flat Fees
When sending money from Singapore to Bangladesh, you'll encounter two types of costs: flat transaction fees and exchange rate markups. Banks typically charge both—a flat fee (SGD 10-25) plus an unfavorable exchange rate that includes a 2-4% hidden markup. Digital providers use different models, and this is where you gain an advantage.
To avoid hidden fees, always request the exact exchange rate you'll receive before confirming your transfer. Compare this against the mid-market rate (the real rate banks use internally) on XE.com or OANDA. If a provider quotes a rate more than 2% below the mid-market rate, walk away. Some providers advertise "no fees" but compensate by offering terrible exchange rates—ensure you're comparing the total cost, not just the headline fee.
Digital Providers vs Banks: Where the Real Savings Happen
Banks in Singapore typically offer exchange rates 3-8% worse than the mid-market rate when sending to Bangladesh. Standard Chartered, DBS, and OCBC all charge substantial markups alongside flat fees, making a SGD 1,000 transfer cost you significantly more than necessary.
- Wise offers real mid-market rates with transparent fees starting at SGD 3.99, typically beating banks by 5-7% on larger amounts
- Remitly provides competitive rates with flat fees of around SGD 2-5 for economy transfers, excellent for regular remitters
- WorldRemit focuses on competitive exchange rates with promotional fee waivers for new users
- Revolut offers interbank rates but charges subscription fees for premium features
For a SGD 2,000 transfer, using Wise instead of DBS could save you SGD 100-160 in total costs. These savings compound quickly if you send money monthly.
Transfer Speed: Choosing Between Instant and Economy Options
Most providers offer multiple speed tiers. Economy transfers (3-5 business days) cost less and suit planned family support or regular bills. Express or instant transfers (same-day to 24 hours) work better for emergencies or time-sensitive needs, though they typically cost SGD 5-15 extra.
Consider your recipient's needs before paying premium rates. If your family in Dhaka expects money within hours, instant transfers via Wise or WorldRemit make sense. For monthly allowances or quarterly investments, economy transfers save you money without meaningful delays.
Tax and Regulatory Considerations
Singapore imposes no tax or restrictions on personal remittances abroad. However, Bangladesh has reporting requirements for recipients: transfers above BDT 50,000 may require documentation, and large transfers could trigger tax inquiries from Bangladesh Revenue Board. Ensure your recipient keeps transaction records and declarations for amounts exceeding these thresholds.
Singapore's AML/CFT regulations mean providers will ask for recipient details and transfer purpose. Declare legitimate remittances honestly to avoid delays or account restrictions.
Practical Tips for Maximum Savings
Timing matters significantly. Exchange rates fluctuate daily; if you're not in a hurry, monitor rates for 5-7 days and transfer when SGD strengthens against BDT. Many providers allow you to lock in exchange rates for 24-48 hours, giving you time to confirm before committing.
Amount thresholds matter too. Transfers under SGD 500 incur proportionally higher costs due to flat fees; batch multiple small transfers into one larger monthly transfer when possible. For amounts above SGD 5,000, negotiate directly with digital providers or consider specialized remittance services that may offer volume discounts.
Register with your chosen provider early and complete verification once, saving time and friction on repeat transfers. Finally, always use your recipient's correct bKash, Nagad, or bank account details to avoid delays or failed transfers.
Frequently Asked Questions
What is the best SGD to BDT exchange rate?
The best rates come from providers offering mid-market rates like Wise, which match the real interbank rate with no markup. Most banks add 3-5% markups; check the mid-market rate on XE.com and compare providers' quoted rates against it.
How long does it take to send money from Singapore to Bangladesh?
Economy transfers typically arrive in 3-5 business days, while express or instant transfers can deliver within 24 hours. Speed depends on both the provider and whether your Bangladeshi recipient uses a bank account, bKash, or Nagad.
What are the fees for sending money from Singapore to Bangladesh?
Digital providers charge SGD 2-5 flat fees with transparent exchange rates, while banks charge SGD 10-25 plus hidden exchange rate markups. A SGD 1,000 transfer via Wise costs around SGD 7 total, compared to SGD 50-80 via a Singapore bank.
Is it safe to use online money transfer services?
Yes, regulated providers like Wise, Remitly, and WorldRemit are fully licensed and comply with Singapore's AML/CFT regulations. They use encryption and multi-factor authentication, making them safer than informal money transfer methods or unregistered channels.
How to send money from Singapore to Bangladesh
- 1Choose your provider — Compare rates above and pick the one with the best SGD to BDT rate.
- 2Create a free account — Most providers take under 5 minutes to verify your identity.
- 3Enter your recipient's details— You'll need their bank account number and routing information.
- 4Pay and track — Fund your transfer and track it in real time.