FX spread often dominates total cost at moderate volumes.
Which costs impact SMEs the most
Model all-in monthly cost: local transfers beyond quota, international wires (add lifting fees), FX volume × spread, fall-below, and account fees. Once monthly FX exceeds ~SGD 100–200k, your spread dwarfs local transfer fees. Ask for tiered FX with written breakpoints; a 0.15% improvement on SGD 150k saves SGD 225/month.


all-in cost, FX spread, transfer fees

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Sophia Tan

About the Author

Helen Lili – Editor, Research Lead
Helen leads tariff analysis and product change tracking. She maintains the normalized dataset that powers our comparison tables and ensures each claim links back to a dated primary source. Read more articles

Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.