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u/Background-Grand5466 4 hours ago Other

Best way to exchange and transfer SGD/USD to US bank account

I have 2 questions: 1. Which is the best place to exchange SGD into USD? **Moomoo** offers bad rate but can transfer to DBS Multiplier USD account at 0$ fee. Not sure with **IBKR** but heard it has the best exchange rate. **Wise** is somewhere in between for wire transfers. For now **Maribank** offers some good rates as well. 2. Does all wire transfers incur fees? How can I know which bank charges how many fees? Does DBS charge outgoing fees and like say US bank like Chase or BoA charge incoming wire fees? I’m planning to convert and send around $30,000 so would like to know which is the best out there.
4 comments held Reddit says 0 on reddit ↗
  1. u/Duckflux04 1 4 hours ago
    Also following for best rates. I do know in general USD->USD transactions generally incur no outbound fees from the SG side. Only an incoming wire fee on the US account side (15USD commonly).
  2. u/Background-Grand5466 OP 1 4 hours ago
    So you are saying its best to convert to USD first and then send? I guess anyways I can only save a max of 50-100 sgd durinf exchange and direct wire transfer of SGD to USD is also gonna around the same
  3. u/Sunriseovermist 1 4 hours ago
    As long as the USD has to move to a different bank (regardless of whether Singapore or not), telegraphic fees apply.
  4. u/PuzzleheadedWing2372 1 4 hours ago
    Wise