How to send money to Mexico from Singapore with the best SGD-MXN rate

Comparing providers when sending money from Singapore to Mexico is the easiest way to make a transfer at the best price.

Here are your best options for sending money from Singapore to Mexico

• Wise is our recommended company for transferring Singapore Dollar to Mexico. Sending 10,000 SGD to MXN will cost you $41.64 in fees, and you will get 133,908.08 MXN. The delivery time is same day, but it depends on the day you make the transfer.

• Key Currency is the overall cheapest options to send money from Singapore to Mexico. We found that Key Currency fees were 0 SGD per transfer, and customers would expect an exchange rate between SGD-MXN that is 0.25% different to the mid-market rate

• Fastest way to send money from Singapore to Mexico is with Revolut. For example, if you send 10,000 SGD with Revolut to Mexico now, the transfer time is within minutes. Smaller transfers will likely be quicker, while larger transfers to India can take a bit longer.

We’ve compared 11 providers for sending Singapore Dollar to Mexico. This ensures you will get the best options for your transfer to Mexico from Singapore.

The exchange rate determines the price you will pay when buying Mexican Peso.

A better exchange rate means more money being sent to Mexico.

If you are paying for services in Mexican Peso from Singapore, this can make a huge difference.

The current rate between the Singapore Dollar and Mexican Peso is 13.5484, and it fluctuates all the time.

The cost of sending money from Mexico to Mexico, 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-MXN is 13.5484 MXN per Singapore Dollar.

• Fees: Outside of exchange rates, you may need to pay a fee to send. Key Currency currently offers the lowest fees on transfers to Mexico from Singapore. They charge 0 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 Mexican Peso is the amount you started with, minus the amount you paid in the exchange and fees.

Here's a tip, if you're making a large transfer, you can also use a forward contract to lock in an agreed exchange rate between Singapore and Mexico.

Using a bank transfer to send via money transfer company is the payment method that will get you the best price when sending from Singapore to Mexico.

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

Bank transfers

Bank transfers are often the fastest and cheapest way to send money from Singapore to Mexico.

Using a money transfer company such as Key Currency for payments from Singapore to Mexico, means you can send via a bank transfer and benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money with a debit card from Singapore to Mexico is easy with Wise.


Wise is a leader in debit card money transfers from Singapore to Mexico. They are the best option of the 11 transfer companies compared.

Credit cards

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

Ensuring you fully understand regulations in Singapore and Mexico will aid in keeping your money safe.

Our directory of worldwide financial regulators contains details on regulation for sending money between Singapore and Mexico.

Some companies offering money transfers between Singapore and Mexico have minimum or maximum thresholds on how much you can send or receive.

Rates and fees for different transfer amounts could change - that’s why it’s best to compare SGD-MXN rates for your specific transfer amount.

For regular transfers to Mexico, shopping around each time can make a huge difference.

For sending large amounts of SGD to Mexico we'd recommend using Wise. They offer a combination of rates and fees when sending from Singapore to Mexico that is the most competitive, even at larger amounts.

There are different options for receiving Mexican Peso in Mexico.

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

Not all companies offering transfers from Singapore to Mexico will offer every method for incoming Mexican Peso, so it’s best to check ahead of time.

Again, a comparison of SGD to MXN providers will tell you if the method for receiving is supported.

One of the most common ways to transfer money from Singapore into Mexico is by sending directly to a bank account. Wise is the best company for bank transfers between Singapore and Mexico.

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

P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience but are better for domestic transfers. For receiving international payments they come with more limitations and higher costs compared to money transfer options like multi-currency accounts.

If using a money transfer company to send Mexican Pesos to Mexico, you will need to verify your ID at the sign up stage.

The documents you need will vary and in some cases you might need more than one.

ID can be verified in Singapore through a government issued ID such as a passport or driver's license.

If the recipient needs an ID to collect money in Mexico, it will be similar.

Large transactions between Singapore and Mexico, can be subject to additional checks. This includes proof of funds for anti-money laundering purposes.

One of the reasons Wise has scored so highly for transfers to Mexico is their easy sign up process in Singapore.

Sending regular, or larger amounts of money between Singapore and Mexico could mean there are tax declarations to consider.

Some transfers into Mexican Peso may need to be reported to tax authorities in Mexico, particularly where inheritance or property purchases are involved.

Mexico has many different tax obligations for residents and non-residents.

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