The Best Guide for Routine Remittances for Indonesian Migrant Workers in Singapore: Save Money & Instant Transfer

The need to send money to parents in Indonesia from Singapore routinely is your top priority. But you might often feel burdened by high fees, long queues at money changers, or complicated and uncertain processes.

Are you tired of wasting your weekly day off just to process transfers at a money changer or paying expensive Singapore to Indonesia money transfer fees? Remember, every fee deducted is a right of your family back home. Old transfer methods are eating away at the amount they should be receiving.

Routine remittances for Indonesian Migrant Workers in Singapore (TKI) must now switch to digital solutions. This article is your complete guide that will dissect the most efficient, fastest, and legal methods. We will help you choose the optimal way to transfer money from Singapore to Indonesia for monthly transfers, so you can save money and time!

Understanding Remittance Method Options for TKI

As an Indonesian migrant worker (TKI) in Singapore, you need to know that your choice of transfer method will significantly affect the final amount your family receives. Your top priorities are security, speed, and low cost, as this is a routine monthly transfer.

Traditional Methods (Must Be Avoided)

These methods include transfers through conventional banks (using the SWIFT system) or through physical money changers.

• Conventional Banks: The process is secure, but slow (can take 2 to 5 business days) and expensive. There are often hidden fees (correspondent bank fees) that you don’t realize.
• Physical Money Changers: Requires your physical time to visit and queue, which means wasting your day off. The security risk is also higher because you are carrying cash.

Digital Methods (The Best Solution)

The best solution today is Fintech Remittance applications. These platforms operate entirely online and focus on optimizing international transfers.

• Pros: Incredible speed (instant transfer or a maximum of a few hours), very transparent fees, and a more favorable SGD to IDR money transfer rate.
• Cons: Requires a strict identity verification process at the beginning of registration to comply with legal Singapore remittance regulations.

Read Also: How to Transfer Salary from Singapore to Indonesia (SGD to Rupiah) Without Maximum Deductions

The Secret to Saving Money: Best Rates and Transparent Fees

The money you send is the result of your hard work. This section will help you ensure no money is lost unnecessarily due to hidden fees.

Exchange Rate

The exchange rate is the biggest determining factor you must pay attention to. Banks and fintechs use different rates:

• Customer Rate (Bank Rate): This is the buy/sell rate used by the bank, and it usually includes a markup (the bank’s profit). This rate is less favorable for you.
• Mid-Market Rate: This is the fairest rate (the midpoint between the buy and sell price) and is generally used by remittance fintechs. Comparing the real-time SGD IDR rate on a fintech app is the key to finding the best SGD to IDR rate today. The difference in this rate can save you hundreds of thousands of rupiah in a month.

Transfer Fee Structure

It’s important to compare the fee structure between service providers:

• Flat Fee: The majority of fintechs use a small fixed fee, no matter how much money you send (up to a certain limit). This is very transparent.
• Hidden Fees: Always be aware of Singapore money transfer hidden fees, such as correspondent bank fees or SWIFT fees that are often deducted after your money is sent, reducing the final amount your family receives.

Transfer Speed (Real-time vs. Days)

For routine TKI remittance from Singapore, speed is very important.

• Instant Speed (Real-time): This is the standard for fintech services. The money arrives in the Indonesian bank account (e.g., Singapore to BCA money transfer or other banks) within minutes, allowing your family to use the funds immediately.
• Standard Speed: SWIFT bank transfers can take 2–5 business days, which is not ideal for urgent needs.

4-Step Guide to Efficient Digital Remittance Process

Switching to digital is very easy. Here is a practical 4-step guide to starting your routine TKI remittance efficiently and quickly:

Step 1: Identity Verification and Choose a Legal Platform

First, you must register on a remittance app. This process requires using your ID/Passport and your residence permit (Employment Pass or S-Pass).

• Important: Always choose a legal remittance service provider licensed by MAS (Monetary Authority of Singapore). This legality guarantees security and compliance with regulations.

Step 2: Add the Recipient in Indonesia

After your account is verified, you can add recipient details.

• Enter the recipient’s bank data in Indonesia (full name, account number, bank name like BRI, BCA, BNI, etc.).
• The digital system usually verifies the name of the recipient’s bank account holder automatically to prevent wrong transfers.

Step 3: Determine the Amount and Compare Rates

This is the crucial moment to save money.

• Enter the SGD amount you will send.
• The app will display the rate you get and the total fee (flat fee).
• Before hitting send, compare the best SGD to IDR rate today on your platform with the mid-market rate on Google. Ensure the difference is minimal.

Step 4: Confirmation and Instant Notification

Once you have made the transfer to the local fintech account in Singapore, the process runs automatically.

• Your money will be converted using the rate you agreed upon.
• The notification is received instantly in the sender’s app, and the money arrives in the recipient’s account within minutes (real-time).

Read Also: The Best Way to Send Money to Parents in Indonesia from Singapore: Digital vs. Traditional

Security and Compliance Tips for Routine Transfers

Even though it’s digital, you must maintain security and comply with regulations.

Platform Legality is Number One

The importance of choosing a fintech regulated by MAS (Monetary Authority of Singapore) cannot be overstated. This regulation guarantees your funds are protected and transfers are conducted according to AML and CFT standards. Never use illegal (black market) transfer services.

Routine Transaction Recording

As a TKI, you must manage your finances well. Always record and save proof of digital transactions. Choose a platform that provides a detailed and easily downloadable transaction history for your personal bookkeeping.

Pay Attention to Transfer Limits and Regulations

Every fintech has a daily or monthly transfer limit. Ensure this limit is sufficient for your monthly TKI remittance needs.

The mission for routine TKI remittance from Singapore must now be dominated by digital methods due to factors of security, speed, and low cost (mid-market rate). Traditional methods via SWIFT banks and physical money changers are no longer efficient for your monthly money transfer.

Choosing an MAS-licensed fintech is the best way to honor your hard work and maximize the amount of money your family receives back home. With an automated system, you can save your day off and ensure your family gets the funds instantly.

Immediately download a legal remittance app, compare rates in real-time, and enjoy financial efficiency at your fingertips!

Download Transfez App

Transfez App can help you transfer money abroad more quickly and efficiently. Jack Finance can also help your business in making transactions abroad. For those of you who want to send money to relatives who are abroad because they are studying, working, or traveling, Transfez will be ready to help. This app is available on Android as well as iOS.