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Understanding the Table:
The comparison table above helps you see the total cost of your Citibank currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your transaction type, details and click ‘GET RATES’.
Citibank's exchange rates for wire transfers are generally competitive and transparent, which makes it a good choice for customers who need to send or receive money internationally. However, it's always a good idea to compare rates and fees across different banks and financial institutions to ensure you're getting the best deal possible.
FX Order Watch: Citibank's FX Order Watch allows customers to set their own exchange rates and automatically execute foreign exchange transactions when the desired exchange rate is reached.
When you get a quote for your Citibank Wire Transfer from their website or in-app, you will see the Citibank exchange rate, but it can be difficult to then calculate how much mark-up you are being charged.
While all banks charge this mark-up, the extra amount being charged is much higher than it would be with a global money transfer specialist.
Sending or receiving international transfers to or from your Citibank bank account will include a margin rate of between 3.5% to 8% – this is much higher than most money transfer broker rates (which are normally 0.5 to 1.5%).
The Citibank SGD to INR exchange rate is 63.7. This is -5% compared to the latest SGD-INR mid-market rate 67.05.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Singapore dollar (SGD) to Indian rupee (INR) rates from different sources before making a conversion.
The above Citibank - Singapore dollar to Rupee comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by Citibank and other foreign exchange providers against the latest SGD-INR mid-rate and the possible savings of using various providers.
Looking at the full SGD to INR - Send Money comparison table the provider with the best SGD to INR exchange rate is XE at 66.65, -0.6% from the latest mid-market rate 67.05.
The next best is Wise at 66.65, -0.6% from the mid-rate.
Then WorldRemit at 66.38, which is -1% from the mid-rate.
Among the banks the CIMB Bank rate is 63.36 at -5.5% the OCBC Bank rate is 65.24 at -2.7% and the Maybank rate is 64.7 at -3.5% compared to the mid-rate 67.05.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like Citibank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
