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Understanding the Table:
The comparison table above helps you see the total cost of your OFX 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’.
OFX has a 20-year history and is one of the largest foreign exchange specialists in the world. It offers a complete foreign exchange solution, including discounted money transfers, currency hedging tools, recurring transfers, a multi-currency account for online sellers and much more.
OFX grew from the idea that there had to be a better, fairer way to move money around the world. That was over 20 years ago, and since then over 1 million customers have trusted OFX with transfers in 50+ currencies to over 170 countries.
OFX don’t just offer great rates, they believe real help from real people counts. That’s why their clients get the best of both worlds – a seamless digital platform, combined with 24/7 phone access to currency experts.
When it comes to moving money, peace of mind is important. OFX is monitored by over 50 regulators globally and work within a network of carefully selected banking partners. So whether you are sending money to friends and family abroad, or doing business across borders, OFX can get your money where it needs to go. Fast, simple, secure.
Using OFX for money transfers offers the benefit of lower fees and competitive exchange rates compared to traditional banks, making international transactions more cost-effective.
Additionally, OFX provides 24/7 customer support, a range of transfer options including spot and forward contracts, and a user-friendly online platform, enhancing convenience and flexibility for global financial transactions.
OFX offers exchange rates that beat the banks, and are close or equal to the rates offered by the industry’s lowest-cost services.
When you register via our OFX 0.5% exclusive offer for BER users the cost of sending, for example, 5,000 US dollars to Australia equates to 0.5 percent of the transferred amount, or roughly US$25. You’d pay the same 0.5 percent for the same amount to be sent to Europe and around 1 percent if sending to India. This compares with 4–7 percent with the banks.
For other currency routes we looked at (routes involving AUD, INR, GBP, EUR, SGD and USD), the average cost of an international payment with OFX was 0.6 percent of the transferred amount. This is exceptional if compared with banks but can be a little more expensive than what is charged by the industry’s lowest-cost services, although such services do not offer the same benefits and customer service as OFX.
The table below shows OFX Singapore dollar (SGD) Send Money exchange rates with the percentage of margin being charged from the current market mid-rate :
| Currency route | Mid market rate | OFX Send Money Rate | Cost% |
|---|---|---|---|
| SGD - AED | 2.8680 | 2.8537 | -0.5%* |
| SGD - AUD | 1.1952 | 1.1892 | -0.5%* |
| SGD - BND | 0.9990 | 0.951 | -4.8% |
| SGD - CAD | 1.0685 | 1.0632 | -0.5%* |
| SGD - CHF | 0.6214 | 0.6183 | -0.5%* |
| SGD - CNY | 5.6066 | 5.4195 | -3.3% |
| SGD - CZK | 16.42 | 16.34 | -0.49%* |
| SGD - DKK | 4.9732 | 4.9483 | -0.5%* |
| SGD - EUR | 0.6666 | 0.6633 | -0.5%* |
| SGD - FJD | 1.7547 | 1.6777 | -4.4% |
| SGD - GBP | 0.5743 | 0.5714 | -0.5%* |
| SGD - HKD | 6.1296 | 6.099 | -0.5%* |
| SGD - HUF | 266.90 | 265.57 | -0.5%* |
| SGD - IDR | 12,693 | 11.856 | - |
| SGD - ILS | 2.6156 | 2.6025 | -0.5%* |
| SGD - INR | 66.89 | 64.5336 | -3.5% |
| SGD - JPY | 114.48 | 113.91 | -0.5%* |
| SGD - KRW | 1,074.9 | 0.965 | - |
| SGD - KWD | 0.2385 | 0.2373 | -0.5%* |
| SGD - LKR | 234.90 | 226.5118 | -3.6% |
| SGD - MAD | 7.0294 | 6.7731 | -3.6% |
| SGD - MGA | 3,451.2 | 2.895 | - |
| SGD - MXN | 14.51 | 14.44 | -0.48%* |
| SGD - MYR | 3.3190 | 3.3024 | -0.5%* |
| SGD - NOK | 7.8796 | 7.8402 | -0.5%* |
| SGD - NZD | 1.3012 | 1.2947 | -0.5%* |
| SGD - OMR | 0.3002 | 0.2917 | -2.8% |
| SGD - PEN | 2.7824 | 2.6759 | -3.8% |
| SGD - PGK | 3.2766 | 3.1178 | -4.8% |
| SGD - PHP | 44.13 | 43.91 | -0.5%* |
| SGD - PKR | 222.15 | 215.0035 | -3.2% |
| SGD - PLN | 2.8266 | 2.8125 | -0.5%* |
| SGD - SAR | 2.9286 | 2.8304 | -3.4% |
| SGD - SBD | 6.5098 | 5.8254 | -10.5% |
| SGD - SCR | 11.46 | 10.2292 | -10.7% |
| SGD - SEK | 7.4288 | 7.3917 | -0.5%* |
| SGD - THB | 25.53 | 25.4 | -0.51%* |
| SGD - TOP | 1.8801 | 1.7017 | -9.5% |
| SGD - TRY | 31.26 | 31.1 | -0.51%* |
| SGD - TWD | 22.78 | 21.7655 | -4.5% |
| SGD - USD | 0.7808 | 0.7769 | -0.5%* |
| SGD - VND | 20,412 | 19261.2174 | - |
| SGD - VUV | 92.70 | 85.1322 | -8.2% |
| SGD - WST | 2.1864 | 1.928 | -11.8% |
| SGD - XOF | 437.24 | 423.9446 | -3% |
| SGD - XPF | 79.54 | 76.7483 | -3.5% |
| SGD - ZAR | 13.92 | 13.85 | -0.5%* |
* BER discount rate that we have negotiated with OFX. To obtain these special rates, click through to OFX from our above exchange rate comparison tool.
OFX is a very competitive foreign exchange provider for Singaporeans and expats to use to move money globally.
OFX charge only a small (bank-beating) margin from the market mid-rate. If you register to be an OFX customer via the OFX 0.5% exclusive offer for BER users you’ll receive even better savings than when you register directly.
Yes they are. OFX is an ASX listed company and is monitored by over 50 regulators globally.
OFX believes everyone deserves peace of mind when moving money globally, so maintaining and improving systems that help protect their clients' money is crucially important to them. OFX is committed to researching, developing and adopting leading digital security technologies to provide their clients with a safe and secure money transfer service.
OFX’s fraud system utilises a multi-layered approach. It monitors registrations, logins, and transactions to identify any suspicious activity, and also detects and prevents fraudulent apps that can target the platform and customers.
Passwords, security questions, and automatic time-outs help to keep customers’ identities and accounts protected from bad actors, and Secure Socket Layer (SSL) encryption creates a secure connection with customers’ browsers to protect personal information from being intercepted.
OFX's global network of banking partners enables them to move your money efficiently, through some of the fastest payment schemes available globally.
OFX processes most major currency transfers within 1-2 business days from the time funds are received. Exotic currencies may take a little longer, but OFX keeps their clients updated along the way with email notifications when funds are received and paid out to the recipient.
You can also opt-in for SMS updates or even track your transfer with OFX by logging in online or on the OFX app.
OFX has partnered with BestExchangeRates to offer you or your business better deals, for example our popular OFX 0.5% exclusive offer for BER users .
You can read our full list of active OFX & BestExchangeRates Deals & Promotions.
OFX is an Amazon Payment Services Provider. Also receive payments from Afterpay, Klarna, Zip and more. You can collect your online seller global revenues in USD, EUR, GBP, CAD, AUD, SGD and HKD. Click here to find out more.
At the time of writing this review thousands of Trustpilot reviewers had rewarded OFX a 5-star rating, and that should speak volumes. As you’d expect from any top firm in the payments industry, common themes within reviews relate to: “great exchange rates,” “excellent service,” “better than the banks,” “quick service” and “easy to get hold of,” among others.
You can read what our BER users think about their experience OFX International Money Transfer service in the article OFX User Reviews.
Please also share your own questions and insights that can help guide and inspire others in our community.
IMPORTANT: BestExchangeRates users, you can get $0 OFX fees* on all FX transfers when you sign up through our partner page.
Be aware that transferred funds might be subject to a third-party bank receiving fee. Such fees are entirely out of OFX’s control and OFX receives no part of them. You can phone OFX’s support line to seek further information on third-party fees.
Minimum transfer size USD $150 or equivalent. Please note that the receiving bank or intermediary bank may charge fees on transactions. There are zero OFX fees on transactions.
Our deal OFX SGD to MYR exchange rate is 3.3024. This is -0.5% compared to the latest SGD-MYR mid-market rate 3.3190. Visit OFX now to receive this rate.
The standard OFX SGD-MYR rate is 3.209, -3.3% from the mid-rate.
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 Malaysian ringgit (MYR) rates from different sources before making a conversion.
The above OFX - Singapore dollar to Ringgit comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by OFX and other foreign exchange providers against the latest SGD-MYR mid-rate and the possible savings of using various providers.
Looking at the full SGD to MYR - Send Money comparison table the provider with the best SGD to MYR exchange rate is OFX at 3.3024, -0.5% from the latest mid-market rate 3.3190.
The next best is XE at 3.2991, -0.6% from the mid-rate.
Then Wise at 3.2991, which is -0.6% from the mid-rate.
Among the banks the CIMB Bank rate is 3.1459 at -5.2% the OCBC Bank rate is 3.2294 at -2.7% and the Maybank rate is 3.2028 at -3.5% compared to the mid-rate 3.3190.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers 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 like OFX or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
