7 Recommended Remittance Apps from Singapore to Indonesia: The Best and Safest Choices
The need for routine remittance from Singapore to Indonesia is a top priority for many professionals, migrant workers, and students. However, amidst the many fintech options, you might be confused about choosing the platform that is truly safe, cheap, and fast.
Are you tired of wasting time comparing confusing rates or worrying about the unclear legality of a platform? The old method of using conventional banks is no longer relevant due to its hidden fees. Choosing the wrong app could make you lose money and valuable time.
This article is your complete guide. We will dissect the 7 best and safest remittance app recommendations from Singapore. We will focus on legality, cost, and speed, so you can choose the optimal solution to maximize every dollar you send.
Criteria for Choosing the Best Remittance App in Singapore
Choosing the right remittance platform should not be done carelessly. Since it concerns your hard-earned money, there are four main criteria that you must use as a benchmark.
1. Legality (MAS License)
This is the number one criterion. You should only use a platform that has an official license from MAS (Monetary Authority of Singapore). This license guarantees that the platform operates under strict government supervision, so your funds are protected and transfers are carried out in accordance with anti-money laundering (AML) laws. Never use illegal or unofficial transfer services.
2. Fair Exchange Rate
The exchange rate is the biggest hidden cost. The best apps offer a Singapore money transfer rate that is close to the mid-market rate. Avoid banks or fintechs that provide a customer rate with a large markup that is detrimental to you. What you need to know before sending is the exchange rate from Singapore to Indonesia and the fee for sending. You will automatically see the real amount that will be received by using the exchange rate from Transfez.
3. Speed & Ease of Use
For routine transfers, speed is very important. The best apps offer real-time speed (within minutes) and have a simple and easy-to-understand user interface (UX). In our application, you will also see the sending status after making a money transfer transaction, such as Transaction In progress, Completed Transactions, Failed or Rejected Transactions, Refunded Transactions, Wallet Top up, and Wallet Balance Withdrawal.
4. Transparent Transfer Fee
Choose an app that charges a small Flat Fee (fixed fee), not a percentage of the amount sent. A fixed fee is much more transparent and advantageous for routine transfers of a medium amount.
Read Also: A Practical Guide to Sending Money Home from a Helper in Singapore: Affordable and Secure
Best Remittance App Recommendations from Singapore (Comparative Analysis)
Here are 7 leading platforms used to send money from Singapore to Indonesia, complete with their specific advantages:
1. Transfez (Focus on Cost Efficiency)
Main Advantage Transfez stands out for users who are cost-sensitive and look for ease. Transfez offers a very competitive flat fee and transparent rates that are close to the mid-market rate. Suitable for Routine TKI transfers, students, and small businesses that prioritize cost efficiency. It has an intuitive interface and customer support that understands the needs of Indonesian users, making cheap money transfers from Singapore very easy.
2. Wise (Formerly TransferWise)
Main Advantage: Wise is a global leader known for always using the pure mid-market rate (Google’s mid-rate) and guaranteeing cost transparency.
Suitable for: Medium to large nominal transfers and digital nomads who seek global consistency.
Limitation: The flat fee may be slightly higher for very small nominal amounts.
3. Instarem
Main Advantage: Instarem is known for its profitable rewards program (InstaPoints) that can be redeemed to reduce transfer fees. Its transfer speed is also very good.
Suitable for: Users who seek cashback or rewards from the frequency of their transfers.
4. Revolut
Main Advantage Revolut is an all-in-one digital banking app that offers digital banking services. Transfers between Revolut users are often free. Suitable for Frequent travelers or those who need multi-currency management besides remittance to Indonesia.
5. Bank DBS Remit (Best Conventional Bank Solution)
Main Advantage Unmatched banking institutional security, suitable for very large nominal transfers (above the fintech daily limit). DBS Remit service is often faster than other bank SWIFT transfers. Suitable for Conventional bank customers who prioritize bank security above all else.
6. BigPay (or Integrated E-Wallet Equivalent)
Main Advantage E-wallet application integrated with international transfers, easily accessible, and often offers free or very cheap transfers for small amounts. Suitable for Small transfers or low-cost users who seek ease of access via a mobile application.
7. Western Union / MoneyGram
Main Advantage Provides a cash pickup option. Money can be collected by recipients who do not have a bank account. Suitable for Recipients in remote areas who do not have access to a bank account.
Transfez: The Leading Solution for Routine Remittance Needs
While all the platforms above have advantages, Transfez stands out as a solution designed with the needs of Indonesian users in mind.
Focus on Competitive Flat Fee
Transfez offers a very low flat fee, not a percentage. This means that when you send a larger amount, the fee you pay remains the same low amount, thus maximizing the amount that arrives in Indonesia.
Transparent Rates Close to Mid-Market
The platform guarantees very competitive rates, which makes the promise of a cheap money transfer from Singapore a reality. Every transfer gives you a fair rate without large hidden markups.
Ease of Use and Legality
Transfez has an official license from MAS, ensuring the security of your transfers. In addition, the registration, verification, and transfer processes are designed with an intuitive interface, ideal for quick and seamless routine remittances.
Tips for Optimizing Money Transfers for More Savings
Using the right application is not enough. You need a strategy to optimize your routine transfers.
Transfer All at Once to Save on Flat Fee: If you have a routine monthly remittance, it is better to send a large amount at once (if possible) rather than breaking it down into multiple transfers. This reduces the frequency of the flat fee you pay, saving total costs.
Check Rates in the Morning
Rates often fluctuate. Generally, the Singapore money transfer rate tends to be more stable in the morning when the currency market opens. Encourage yourself to monitor the rates during these times to get the best rate.
Prioritize Legality over Cheap Illegal Rates
Don’t be tempted by very high-rate offers from unofficial transfer services. The risk of losing money or getting involved in legal issues is far greater than the rate advantage gained. MAS has warned repeatedly to only use licensed transfer services.
The mission to find the best remittance app from Singapore must be based on legality and fair rates. Conventional banks are no longer relevant for routine small-to-medium transfers. Transfez and other licensed fintechs are the ideal solution. They combine institutional security (thanks to MAS supervision) with real-time speed and transparent fees. Switching to fintech is the best way to honor your hard work and maximize every dollar sent home to your family.
Immediately compare real-time costs and try the Transfez app for your first transfer. Enjoy ease, security, and financial efficiency at your fingertips!
Download the Transfez app to send money from Singapore to Indonesia
With a busy work schedule, don’t let transfers interrupt your downtime! Transfez helps you send money 1-2 times a month safely and affordably without any drama. Just one click, and your money arrives in real time. Want to send money to your village? No worries, you can! Transfez is ready to be your regular go-to. Check it out and download the app now on the App Store or Play Store. #SantaiTapiSampai
