Singapore Expats

I am moving to Singapore in a month to work and I want to transfer freely monies between my bank in Canada and new bank in Singapore. All the Canadian banks don't do personal banking. Any advice ?

I've been happy with Citi.

Have you considered a Schwab brokerage account? Easy to move money from Singapore into the account, and then from there to other banks... all online. Decent exchange rates.

What bank are you using in Canada? My husband and I uses Bank of Montreal and there is a western union bank transfer through BMO. It's $9 + 1% of amount transferred per transaction. But you're limited to transfer 999 Cad per day. I find that is the cheapest way to transfer money. If you're talking about transferring money from Sg to Canada, you can try western union but the down side is you need to personally go to western union to collect the money. You can try Online transfer but the fees can be up to $125.

Hi thank you I bank at scotiabank I will be working for a year here and family staying at home so, I need to transfer from my singapore account where pay deposited to get to a Canadian account

You can try HSBC. With global transfer, it allows you to move 200K US$ equivalent per day. It is instant and free.

I've never had a problem transfering money to and from Canada via wire-transfer via on-line banking. (On both the Singapore side and the Canada side)

I've done this with a couple of different banks in Singapore. It's usually done within 24 hours.

Western Union is a very expensive option.

The cheapest option is to open an account with Interactive brokers. Fund it with Canadian dollars. Use their FX trading platform which charges US $2 per transaction and then you can withdraw it into a Singapore account.

There is a monthly inactivity fee at Interactive Brokers though of US$10, if you don't generate commissions of that amount.

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Wd40 wrote:The cheapest option is to open an account with Interactive brokers. Fund it with Canadian dollars. Use their FX trading platform which charges US $2 per transaction and then you can withdraw it into a Singapore account.

There is a monthly inactivity fee at Interactive Brokers though of US$10, if you don't generate commissions of that amount.

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I second this suggestion. IB is a brilliant platform for investing, transferring money etc. The only downside are their monthly fixed fees but if you have a non-trivial level of investments, they turn out to be the cheapest by far.

I think HSBC is pretty good for transfers internationally