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Understanding the Table:
The comparison table above helps you see the total cost of your PayPal 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’.
When you use the PayPal to make a foreign transfer the total cost will depend on how you pay, but generally you will be charged between 4%-7% percent of the total amount being converted depending on how you pay.
When you use a debit/credit card to pay for your transfer you will be charged an extra 3% when you load your PayPal wallet.
The base foreign exchange rate at which PayPal obtains foreign currency is determined by 3rd party financial institutions, and are adjusted regularly based on market conditions. The exchange rate that PayPal then provides you also includes a processing fee above the base rate.
The exchange rate provided by PayPal is fixed for each currency and does not change for small or large amounts.
If you use your credit card to send a payment, you can usually opt to use your credit card provider’s conversion rate instead of PayPal's.
If you choose to use MasterCard or Visa’s exchange rate, the applied conversion rate will be shown on your credit card statement, and not at the time of the transaction.
When you use the PayPal App in the US to send a payment to a different currency, you will be using Xoom, a PayPal Service.
The PayPal SGD to CNY exchange rate is 5.2841. This is -5.4% compared to the latest SGD-CNY mid-market rate 5.5864.
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 Chinese yuan (CNY) rates from different sources before making a conversion.
The above PayPal - Singapore dollar to Yuan comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by PayPal and other foreign exchange providers against the latest SGD-CNY mid-rate and the possible savings of using various providers.
Looking at the full SGD to CNY - Send Money comparison table the provider with the best SGD to CNY exchange rate is Wise at 5.5529, -0.6% from the latest mid-market rate 5.5864.
The next best is WorldRemit at 5.5305, -1% from the mid-rate.
Then OFX at 5.4014, which is -3.3% from the mid-rate.
Among the banks the CIMB Bank rate is 5.2953 at -5.2% the OCBC Bank rate is 5.4356 at -2.7% and the Maybank rate is 5.3909 at -3.5% compared to the mid-rate 5.5864.
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 or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
