|
|
|
||
|
|
|
||
|
|
|
||
|
|
|
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 PHP business exchange rate is 42.12. This is -5% compared to the latest SGD-PHP mid-market rate 44.36.
As Business exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Singapore dollar (SGD) to Philippine peso (PHP) rates from different sources before making a conversion.
The above Citibank - Business Singapore dollar to Peso 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-PHP mid-rate and the possible savings of using various providers.
Looking at the full SGD to PHP - Send Money comparison table the provider with the best Business SGD to PHP exchange rate is OFX at 44.2, -0.36% from the latest mid-market rate 44.36.
The next best is XE at 44.09, -0.61% from the mid-rate.
Then Wise at 44.09, which is -0.61% from the mid-rate.
Among the banks the CIMB Bank rate is 41.89 at -5.6% the OCBC Bank rate is 43.16 at -2.7% and the Maybank rate is 42.81 at -3.5% compared to the mid-rate 44.36.
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:
