Wise vs Transfez vs Topremit: In-Depth Comparison of Money Transfer Apps from Singapore to Indonesia

You are in Singapore and need to send money to Indonesia routinely. However, amidst claims of the lowest fees, you are confused about choosing between popular platforms like Wise, Transfez, and Topremit. Each app has a different fee structure, and choosing the wrong one could mean losing hundreds of thousands of rupiah per month.

Do you know below what amount Wise is more expensive than Transfez? Why can’t you use Topremit for transfers from Singapore currently? Choosing without analysis could mean paying high fees and losing money due to unfavorable exchange rates.

This article is a comparative guide that will dissect the costs, features, and user experience of these three platforms, plus other important alternatives. We will show why Transfez is the best and cheapest option for routine and large transfers thanks to its low flat fee and profitable rewards system.

Understanding Fee Structures: The Key to an Honest Comparison

Comparing remittance costs must look at three important components, not just the advertised fee figure on the front page.

1.  Transfer Fee

This is the service fee charged upfront. There are three main structures in the remittance market:

• Flat Fee (Transfez): A fixed fee, no matter how much you send (very economical for large amounts).
• Tiered Fee (Wise): The fee varies depending on the amount sent (cheap for small, expensive for large).
• SWIFT Fee (Bank): High fees and often deducted mid-transfer.

2. Exchange Rate – The Biggest Hidden Cost

This is the markup applied by the service provider. This is the hardest cost to identify and often a trap:

• Customer Rate (Bank): The bank’s buy/sell rate that contains a large markup.
• Mid-Market Rate: The central market rate (like on Google). The cheapest money transfer app from Singapore will use the rate closest to this mid-market rate.

3. Speed and Legality

Speed (real-time or 5-10 minutes) is an added value that saves time. Also, all platforms you use (Wise, Transfez, and Single Dash) must have an official license from the Monetary Authority of Singapore (MAS) to guarantee security and legality.

Read Also: Comparison of Money Transfer Fees from Singapore: Which is the Cheapest and Most Transparent?

Comparative Cost Analysis (Simulating Different Amounts)

Here is a comparative case study using specific cost data, measuring the efficiency of Transfez, Wise, and other alternatives.

Case Study 1: Small Transfer Amount (Example S$500)

For transfers of S$500, Wise is the most efficient choice because its tiered fee is still very low (3.35 SGD). However, Transfez (with a flat fee of 5 SGD) is still very competitive and much more transparent than a bank.

Case Study 2: Large Transfer Amount (Example S$5,000)

This is where Transfez’s flat fee structure wins decisively. The Wise fee increases to around Rp 270,000 because it is calculated based on a percentage of the amount. Meanwhile, the Transfez fee remains only 5 SGD (around Rp 64,000). For routine monthly transfers or a single transfer of S$1,000 and above, Transfez is the best and cheapest because the flat fee becomes very efficient.

Rate Comparison & Platform Limitations

• Wise and Transfez: Both are known to offer very competitive and transparent rates, approaching the mid-market rate.
• Topremit: IMPORTANT NOTE: Topremit currently only serves transfers from Indonesia to Singapore (outgoing) and not incoming (SGD to IDR). This is a significant weakness for the audience located in Singapore.

Transfez Advantage: Rewards and Promos

Transfez offers more than just a low base price. The platform provides unique added value that gives you double savings.

Welcome Promo (Initial Free Fee) and Point Rewards

Welcome Promo: When you first download the Transfez app, you immediately get a benefit: you will not be charged a transfer fee for a certain period (Free Try).

Point Rewards and Missions: Transfez converts transfer fees into the potential for free transfers. You can collect point rewards and follow missions given in the app. These points can be redeemed for discounts, up to a Free SG to Indonesia Transfer. This is a smart strategy to save on routine money transfer costs in the long term.

Referral Programs and Discounts

The reward system is very beneficial for users who routinely send money, as the already cheap base fee can effectively become zero.

Legality and Security (Mandatory)

All these savings are supported by a legal platform licensed by MAS (Monetary Authority of Singapore). This legal compliance is the most important security guarantee for your funds and data.

Speed, Transaction Limits, and User Experience

• Instant Transfer Speed: Transfez is known for instant transfers (estimated 5-10 minutes). This speed surpasses conventional banks, ensuring funds arrive in Indonesia without delay.
• Transaction Limits and Flat Fee Strategy: To save on routine money transfer costs, always upgrade to Tier 2 and transfer all at once (once a month). Because the Transfez fee is flat at 5 SGD, this is the most effective way to pay a minimal fee per rupiah sent.

Read Also: Practical Guide: How to Transfer Money to Indonesia from SG (Singapore) Using Transfez

The comparison results show that for sending money from Singapore to Indonesia (Wise vs. Transfez vs. Topremit from Singapore):

• Wise excels for very small nominal transfers (below S$1,000) due to its tiered fee.
• Topremit cannot be used for transfers from Singapore currently.
• Transfez is the best and cheapest for routine and large transfers because of the low 5 SGD flat fee, combined with a point rewards system that gives transfer discounts and a Free SG to Indonesia Transfer.

Financial efficiency lies in choosing a platform that is transparent, legal, and provides added value. Immediately download the Transfez app, take advantage of the Free Try promo, and start collecting your point rewards now!

Download the Transfez app for shipping from Singapore to Indonesia at a low flat rate!

Tired after a long day at work? Don’t let sending money to your family be a hassle! Try Transfez now, an Indonesian money transfer app that gives you peace of mind. Your money arrives quickly, without any strange exchange rate drama. Especially for new users, your first transfer is FREE. Download Transfez now on the App Store or Play Store. One click, and you can relax! #SantaiTapiSampai