How to send money to Italy from Singapore with the best SGD-EUR rate

A comparison of providers offering services between Singapore and Italy is paramount. Based on your specific transfer amount, the best way to send money to Italy could change. Comparing ensures the best price for your needs.

At the moment, we found these providers to be the best for SGD/EUR

• Overall, we rated Wise as the best, but remember comparing for your specific transfer gives you a comprehensive view of all the options for transferring money from Singapore to Italy. Transferring 10,000 SGD to EUR will cost you $20.58 in fees, and you will receive 6,744.16 EUR. The delivery time can take within minutes, but it depends on the day you make the transfer.

• We compared 12 money transfer companies and Wise offers the cheapest transfer service between Singapore and Italy. Wise fees are 20.58 SGD per transfer and you can expect an exchange rate between SGD-EUR that is 0% different to the mid-market rate.

• Fastest way to send money to Italy from Singapore is with Revolut.

For services allowing you to send Singapore Dollar to Italy we've compared 12 providers.

This coverage of the market ensure you will get the best options for your transfer to Italy from Singapore.

A better exchange rate means more Singapore Dollar being sent to Italy. This exchange rate determines the price you will pay when buying Euro.

Currently the mid-market rate between Singapore Dollar and Euro is 0.6776.

The cost of sending money from Italy to Italy, is made-up of a combination of fees and exchange rates:

• The Mid-Market and Exchange Rates: The mid-market rate determines a mid-price for buying currency. The current mid-market rate from SGD-EUR is 0.6776 EUR per Singapore Dollar.

• Fees: Outside of exchange rates, you may need to pay a fee to send. Wise currently offers the lowest fees on transfers to Italy from Singapore, costing 20.58 SGD per transfer. Although this does include large transfers as well, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The amount received in Euro is the amount you started with, minus the amount you paid in the exchange and fees.

The better deal you get on exchanging Singapore Dollars to EUR, paired with a low fee, means a higher total amount received in Italy.

If you’re sending a large amount where this rate could make a significant difference, use a forward contract. This allows you to lock in an agreed exchange rate between Singapore and Italy.

A bank transfer through a money transfer company is the cheapest way to send money. Generally, it’s the payment method that will get you the best price on a transfer from Singapore to Italy at this moment.

Here are all the ways to send money from Singapore to Italy:

Bank transfers

Bank transfers are usually the best and easiest way to send money from Singapore to Italy.

By using a money transfer company such as Wise for transfers from Singapore to Italy, you can send money via a bank transfer while benefitting from lower fees and more favorable exchange rates than you would get from a traditional bank.

Debit and prepaid cards

Sending money from Singapore to Italy with a debit or a prepaid card is available through Wise.


Wise is a one of the cheaper options for debit card payments for transfers from Singapore to Italy. This cost is against a total of 12 money transfer companies offering this option.

Credit cards

When it comes to international credit card transfers from Singapore to Italy, we recommend comparing your options to get the best deal.

Be aware of fees: using a credit card to transfer money often results in a fee being charged by your card issuer. Where possible, we recommend a bank transfer or debit card payment.

and have different financial regulators and ensuring you fully understand how these work will aid in keeping your money safe.

We’ve put together a directory of worldwide financial regulators which contains details on regulation for money transfers between Singapore and Italy.

Transfer limits to Singapore and Italy will differ per company, this may impact the amount you can send and receive if you hit the limits.

Also, rates and fees for different SGD-EUR transfer amounts could change - that’s why it’s best to compare companies for your specific transfer amount. Then, for regular transfers to Italy, shopping around each time can make a huge difference if you feel you are hitting limits regularly.

For sending large or regular amounts of SGD to Italy we'd recommend using Wise. They offer a combination of rates and fees when sending from Singapore to Italy that is the most competitive.

There are different ways to receive money in Italy.

The most popular ways are direct bank deposit into Euro, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers offering money transfers between Singapore and Italy will offer every method for incoming Euro.

Understanding where the money will eventually go after its left Singapore and entered Italy could impact the provider you use.

The most common (and generally easiest) way to send money from Singapore to Italy is directly into a bank account. Wise is the best company for sending money from Singapore to a bank account in Italy.

And if you need cash right away, check if cash pickup is an option for transfers between Singapore and Italy.

Mobile wallets, P2P services and payment apps like PayPal, Xoom, and CashApp are popular because they offer convenience to those who already have them, but they come with more limitations and higher costs.

When sending Euros to Italy, you will need to verify your ID at the sign up stage.

The documents you need will vary by money transfer company and in some cases you might need a couple of options.

For the most part however, in Singapore ID can be verified through a government issued ID such as a passport or driver's license.

In Italy, if the recipient needs an ID to collect money - both should be accepted. We’d recommend checking in advance before sending for any specific requirements on receiving money.

Large transactions between Singapore and Italy, are subject to additional checks such as proof of funds. This is for anti-money laundering purposes.

Wise is one of our recommended providers for transfers to Italy from Singapore due to the ease of sign up and ID verification.

When sending money between Singapore and Italy there will be tax declarations to consider.

Some transfers into Euro may need to be reported to tax authorities in Italy, particularly where inheritance or property purchases are involved (or anywhere else there are additional legal requirements).

Depending on age and income in particular, tax limits and personal allowances will change in Italy.

When in doubt, please contact a tax professional in Singapore or Italy to discuss the personal circumstances of the transfer. This ensures you are not missing any specific tax declarations associated with your circumstances.