Compare today's SGD to CNY (Singapore Dollar to Chinese Yuan) exchange rates
📈 Singapore to China Money Transfer Snapshot Today
- Best SGD to CNY exchange rate today: CNY 5.3965, offered by Instarem
- Number of money transfer providers compared: 11
- Exchange rate range: CNY 5.3221 to CNY 5.3965
- Potential savings on SGD 1000: CNY 74.40
- Number of deals and promo codes: 1
- Mid-market
ⓘThe mid-market exchange rate (also called the interbank rate) is the real SGD to CNY exchange rate before providers add their margin or fees. exchange rate: 1 SGD = CNY 5.4118 (Updated about an hour ago)
See detailed Singapore to China money transfer comparison below.
Money Transfer Providers that matched the search criteria
📢 Special exchange rate applied for first transfer
📢 B2B transfers only
📢 B2B transfers only
If you are making international business money transfers or payments, RemitFinder can assist by matching you with the best options to suit your unique business needs. Get in touch now to see how we can help protect your business revenue by getting you higher exchange rates and lower transfer fees on international business FX.
💡What today's SGD-CNY exchange rates mean for you
Compare today's SGD-CNY exchange rates and send money from Singapore to China after comparing numerous money transfer providers. Check the latest exchange rates, read detailed provider reviews, and discover deals and promo codes — all in one place.
RemitFinder compared 11 providers that you can rely on for Singapore to China money transfers today. Here is a summary of how the competition looks like right now:
Today's Most Competitive Singapore to China Providers
🥇 Instarem with 1 SGD = 5.3965 CNY (best SGD to CNY exchange rate today).
🥈 Regency FX offering 1 SGD = 5.3931 CNY.
🥉 Key Currency & Ria Money Transfer are also providing good FX rate today.
The exchange rate provided by these 11 providers ranges from CNY 5.3221 to CNY 5.3965. For a SGD 1000 money transfer from Singapore to China, that could mean up to CNY 74.40 saved on FX alone.
SGD-CNY exchange rates fluctuate throughout the day, and top positions can change quickly. This volatility can significantly impact the final CNY payout that your recipient gets in China.
That's why we recommend comparing money transfer providers to ensure you can maximize the value of your Singapore to China remittances.
🔄 Looking for the reverse corridor? Send money from China to Singapore instead.
Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from Singapore.
👇 We also suggest looking beyond today's SGD-CNY exchange rate — historical pricing trends show many factors that can affect the overall transfer cost of your transfer.
Whilst SGD-CNY exchange rate is crucial, historical data shows that transfer fees, SGD amount sent and payment and delivery methods can also significantly influence your final payout.
Below, we analyze Singapore to China historical remittance data to help you understand where costs may arise and share some best practices to try to maximize your CNY payout.
Data-driven cost insights for Singapore to China money transfers
When you send money internationally from Singapore to China, the key factors that will influence the overall cost of your transaction are:
- SGD-CNY exchange rate
- Transfer fee
- Payment method
- Delivery method
Ideally, you would want to optimize these 4 factors to try to get the maximum CNY payout for your overseas recipient in China.
Another counter-balancing aspect is money transfer speed. If you need to rush money from Singapore to China, you may have to compromise on some of the above factors whilst optimizing for speed.
To put this into a better perspective using a data-driven approach, we analyzed historical remittance pricing1 for Singapore to China money transfers to compare transfer costs, FX margins, fees, and payment and delivery methods across providers.
This analysis is based on 318 actual Singapore to China money transfers handled by 13 providers over the last 5 years (for a SGD 260 remittance benchmark).
This data-driven approach using real SGD-CNY transfer data provides useful insights into identifying the lowest-cost payment and delivery combinations, thereby helping you reduce costs and maximize the amount received.
Before we deep dive, here are the key trends from our analysis, summarized in an easy to read format.
📌 Key insights for Singapore to China money transfers
- Average total cost: 4.14% (range -1.14% to 11.18%, spread 12.32 percentage points)
- Potential payout difference: On a SGD 260 transfer, the above variation can save you up to SGD 32.03.
- Average FX markup: 1.34% (range -2.84%
ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts. to 4.70%, spread 7.54 percentage points) - Average transfer fee: SGD 7.29 (range SGD 0.00 to SGD 25.00)
- Cheapest payment/delivery method combo: Bank Account Transfer → Bank Deposit (1.78% avg cost); most expensive is Cash → Bank Deposit (6.14%)
- Payment/delivery method choice impact: Cheapest vs most expensive combo saves 4.36% (SGD 11.34 on SGD 260 transfer).
- Market coverage: ~13 providers on average (competition level: competitive)
- Average speed: About 17 hours
🛠️ Key takeaway: Compare providers using both exchange rate and fees, then optimize your payment and delivery methods to reduce total cost.
Below, we provide detailed data-driven insights on various factors that influence the total cost of your Singapore to China money transfers.
📈 SGD to CNY exchange rate is often the biggest driver of both cost and payout
The exchange rate on your Singapore to China money transfers is usually the single biggest factor that will determine your overall SGD cost and your recipient's CNY payout.
To analyze exchange rates, we will rely on the exchange rate markup (also called FX margin) which is the difference between the mid-market exchange rate
Based on historical pricing data for a SGD 260 money transfer benchmark, we see the following FX markup ranges for Singapore Dollar to China transfers:
- Average markup: 1.34%
- Median markup: 1.11%
- Lowest markup: -2.84%
ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts. - Highest markup: 4.70%
That is a spread of 7.54 percentage points between the lowest and highest observed FX markups.
To put this into perspective, on a SGD 260 transfer, the above markup range is equivalent to roughly CNY 19.60 purely from differences in the exchange rate. That incremental saving increases to CNY 48.63 for a SGD 645 transfer.
🛠️ How to use this insight: When comparing providers for Singapore to China remittances, pay close attention to the exchange rate you receive. A small difference in the FX markup can quickly outweigh other factors like fees, and the gap generally grows as transfer amounts increase.
SGD to CNY exchange rate can be the single most critical factor that determines the cost of your transfer. When comparing providers, keep an eye on the rate you will get.
💰 Transfer fees affect your total Singapore to China remittance cost
Whilst exchange rate is a major factor affecting total transfer cost, the transfer fee can also have a big impact on how much of your Singapore Dollar reaches your recipient in China.
Based on data from last 5 years, we notice the below about Singapore Dollar to China money transfer fees:
- Average fee: SGD 7.29
- Median fee: SGD 3.99
- Lowest fee: SGD 0.00
- Highest fee: SGD 25.00
The average fee amount of SGD 7.29 noted above represents 2.81% of the total amount sent.
Also note that even if two providers provide the same exchange rate, a best vs worst case transfer fee can increase the payout by SGD 25.00.
🛠️ How to use this insight: For your next money transfer from Singapore to Chinese Yuan, look for providers that provide lower (or even 0) fees.
One caveat to this, though, is something called the hidden fee. Some providers may hide their real fees by offering a 0 or low fee, but providing a lower exchange rate. The money lost due to an inferior FX rate affects your bottom line and is referred to as a hidden fee. Therefore, you should also keep an eye on rates whilst paying attention to fees.
Another point that you should keep in mind is that for larger transfers, fixed fees become a lesser percentage of total amount. But for smaller transfers, fees can be a major part of total cost.
💸 Payment and delivery methods matter for SGD-CNY remittances
Based on our detailed analysis of historical Singapore to China data, we see consistent variation in overall cost amongst the payment method and delivery method you choose.
Here is the average cost for popular payment methods used to send money to China from Singapore:
- Bank Account Transfer: 1.96%
- Debit Card: 3.79%
- Credit Card: 5.01%
- Cash: 5.14%
That is a total spread of 3.18 percentage points.
This means that on a SGD 260 transfer, you could save up to SGD 8.26 simply by choosing the best priced payment method.
These savings will only multiply for higher SGD amounts.
Here is the average cost of popular delivery methods used to send money from Singapore to China:
- Mobile Wallet: 3.69%
- Cash Pickup: 3.79%
- Bank Deposit: 4.37%
The cost difference between the above delivery methods is 0.69 percentage points.
Once again, this means that you could save up to SGD 1.78 on a SGD 260 transfer to China by choosing Mobile Wallet versus Bank Deposit.
As you can imagine, the possible combinations of Singapore payment methods and China delivery methods will all have disparate cost. Let us look at that next.
Here is a summary of the average cost of payment and delivery method combinations for Singapore to CNY money transfers.
| Payment Method | Delivery Method | Average Cost (%) |
|---|---|---|
| Bank Account Transfer | Bank Deposit | 1.78 |
| Cash | Mobile Wallet | 2.38 |
| Bank Account Transfer | Mobile Wallet | 3.52 |
| Debit Card | Cash Pickup | 3.63 |
| Credit Card | Cash Pickup | 3.63 |
| Debit Card | Mobile Wallet | 3.66 |
| Cash | Cash Pickup | 3.80 |
| Debit Card | Bank Deposit | 4.01 |
| Credit Card | Mobile Wallet | 5.43 |
| Credit Card | Bank Deposit | 5.87 |
| Cash | Bank Deposit | 6.14 |
Sorted by Average Cost % (cheapest to most expensive).
As you can see, the difference between these SGD-CNY payment and delivery options is significant. Here are some observations:
- Bank Account Transfer → Bank Deposit has the lowest average cost at 1.78%.
- Cash → Bank Deposit has the highest average cost at 6.14%.
- Bank Account Transfer → Bank Deposit average cost is 4.36 percentage points lower than that of Cash → Bank Deposit.
- This means that on a SGD 260 money transfer, you could save up to SGD 15.97 simply by choosing the best payment and delivery method combo.
- Further, on a SGD 645 money transfer, the savings increase to SGD 39.62.
Here is a quick summary of the average historical cost of various payment and delivery methods for SGD to China money transfers.
💸 Cheapest payment and delivery methods (data-backed)
- Cheapest payment method: Bank Account Transfer averaged 1.96%, compared to 5.14% for Cash, a difference of 3.18 percentage points.
- Cheapest delivery method: Mobile Wallet averaged 3.69%, compared to 4.37% for Bank Deposit (0.69 percentage points higher).
- Cheapest combo: Bank Account Transfer → Bank Deposit averaged 1.78%, which is 4.36 percentage points lower than Cash → Bank Deposit (6.14%).
🛠️ How to use this insight: As you compare money transfer providers for your next Singapore to China international money transfer, strive to pair the lowest-cost payment method with the lowest-cost delivery method.
This can help you avoid the pitfall of "great exchange rate, expensive methods".
You can save money on your Singapore to China remittances by carefully choosing the most economical payment and delivery methods.
🏦 Are banks more expensive than money transfer providers for SGD-CNY remittances?
When we compared Singapore banks with money transfer providers based on 5 years of remittance data, we noticed some patterns.
We observed that traditional banks charged 3.09 percentage points more on average than money transfer providers for Singapore to China remittances.
This means banks tend to be approximately 1.77x more expensive than money transfer companies.
Here are the key stats behind this comparison:
| Banks | MTOs^ | Difference | |
|---|---|---|---|
| Average transfer fee | SGD 16.70 | SGD 6.99 | SGD 9.71 |
| Exchange rate markup | 0.71% | 1.36% | -0.64 pp* |
| Average total cost (%) | 7.14% | 4.04% | 3.09 pp* |
^MTO: Money transfer operator, a commonly used term for a money transfer provider
*Percentage points
🛠️ How to use this insight: Whilst banks in Singapore may offer convenience and familiarity, money transfer providers often deliver lower overall cost due to their better exchange rates and lower fees. Even if you want to send money overseas with your bank in Singapore, we recommend comparing with money transfer companies to find your best options.
📊 Does sending more money reduce the cost of SGD-CNY money transfers?
To see if transfer cost varies based on the amount sent, we compared the average cost of sending SGD 260 vs SGD 645 from Singapore to China.
We found that sending a higher amount (SGD 645) tends to be cheaper - average cost drops from 4.14% to 2.75%, a reduction of 1.39 percentage points.
The cost of your transfer usually continues to drop as transfer amount increases. That said, always check the latest exchange rates and fees for your intended transfer amount.
🛠️ How to use this insight: Since it is generally cheaper to send higher Singapore Dollar amounts to China, consider consolidating smaller, more frequent transfers into fewer, larger ones. Doing so may reduce the total cost you pay.
🏛 How competitive is the Singapore to China remittance market?
Based on data from the last 5 years, SGD-CNY money transfers are provided on an average by 13 remittance companies. With around 13 providers serving this market, we consider the level of competition to be competitive.
Traditional banks have represented only 23.1% of active providers in this corridor (3 out of 13), meaning money transfer companies make up the majority.
A remittance market with more active providers is typically more competitive. This means you can get a better pricing and more payment and delivery options for your Singapore to China remittances.
⏱️ How fast are SGD-CNY money transfers?
If your recipient in China needs funds urgently, you may need to optimize your transfer for speed.
Here is what we see for Singapore to China transfers when it comes to processing time:
- Average transfer time: About 17 hours.
- Fastest transfer time: About less than 1 hour.
- Slowest transfer time: About 144 hours (~6.0 days).
- Average speed at SGD 260: About 17 hours.
- Average speed at SGD 645: About 17 hours.
Banks vs money transfer providers speed comparison: Banks take 3 hours longer on average than money transfer providers.
🛠️ How to use this insight: If you need to send money from Singapore to China in a hurry, compare providers not just on exchange rate, but also on expected speed. Speed also varies based on the delivery method (bank vs cash vs wallet) you choose for China.
Singapore to China transfer speed varies across providers, so compare transfer speed along with cost for time-sensitive money transfers. In addition, pick the fastest payment and delivery methods for faster processing.
Frequently Asked Questions about Singapore to China money transfers
These FAQs use data from RemitFinder's historical analysis of Singapore to China money transfers over several years.
What factors affect the total cost of sending money from Singapore to China?
The total cost of your SGD-CNY money transfer depends on how you fund the transaction (payment method), how the recipient receives it (delivery method), the exchange rate you get, and any transfer fee charged by the provider.
To avoid overpaying for your transfer, compare money transfer providers.
How much does the exchange rate affect Singapore to China transfers?
Historical SGD to CNY exchange rate markup ranges from -2.84% to 4.70%, a spread of 7.54 percentage points. Even small differences in the exchange rate markup can impact your final payout significantly.
Can SGD-CNY exchange rate markup be negative?
Sometimes, money transfer providers may offer promotional exchange rates that are better than the mid-market exchange rate, resulting in a negative SGD-CNY exchange rate markup.
Such offers are generally limited by transfer amount, eligibility, or duration. Compare providers to see if you can take advantage of any ongoing special offers.
Is the exchange rate or the transfer fee more important for Singapore to China transfers?
Exchange rate markup ranges from -2.84% to 4.70% (a spread of 7.54 percentage points).
Transfer fees range from SGD 0.00 to SGD 25.00, which equals roughly 9.62% on a SGD 260.00 transfer.
At SGD 260.00, the larger driver of overall cost is the transfer fee, whilst at SGD 645.00, it shifts toward exchange rate markup.
Regardless, our recommendation is that it is important to compare both exchange rates and fees when choosing a provider for Singapore to China transfers.
As the transfer amount increases, the % impact of fees decreases (because the fee gets spread across a larger SGD amount), whilst exchange rate markup remains a percentage-based cost that can scale with transfer size.
For smaller transfers, fees can matter more, whilst for larger transfers, exchange rate often becomes the bigger driver. Either way, comparing both helps you get the most CNY for your SGD.
How much can Singapore to China transfer costs vary between providers?
Historical transfer cost ranges from -1.14% to 11.18% for SGD transfers to China. That is a spread of 12.32 percentage points, meaning significant differences between various money transfer providers.
A major contributor to this variation is exchange rate markup. FX markup alone ranges from -2.84% to 4.70% (a spread of 7.54 percentage points). Thus, even small differences in FX margin can have a big impact on the final CNY payout.
Why do various money transfer providers price SGD to China transfers differently?
If you send the same Singapore Dollar amount to China via different providers, the cost of each transfer will be different because of variations in FX markup, fees, and payment and delivery methods.
Even small differences among all the above factors can change the final CNY payout in China in a big way.
How stable are transfer costs in the Singapore to China corridor?
When we analyzed the historical total cost for SGD-CNY transfers, we observed a range from -1.14% to 11.18% (12.32 percentage points difference), along with a variability (standard deviation) of 2.70%.
A major driver of cost in this market is exchange rate markup. FX markup ranges from -2.84% to 4.70% (7.54 percentage points difference), with a standard deviation of 1.18%. Fees and payment/delivery method choices can contribute to further volatility.
This is exactly why we recommend comparing money transfer providers to get the most of your SGD-CNY transfers.
Which payment method is cheapest for Singapore to China remittances?
Bank Account Transfer is the cheapest payment method in Singapore based on its average cost at 1.96% (compared to Cash at 5.14%, a difference of 3.18 percentage points).
Based on this, we recommend paying for your SGD transfer with Bank Account Transfer, and avoiding Cash if possible.
Is Debit Card cheaper than Credit Card for Singapore to China transfers?
Debit Card is cheaper on average when sending money to China from Singapore since it costs 3.79% (compared to 5.01% for Credit Card payments, a difference of 1.23 percentage points).
As a result, we recommend that you avoid paying for your transfer to China with a Credit Card.
Which delivery method is cheapest for SGD-CNY money transfers?
Mobile Wallet is the cheapest delivery method in China as it costs 3.69% (compared to Bank Deposit at 4.37%, a spread of 0.69 percentage points).
If your recipient in China can accept Mobile Wallet, we recommend choosing it as your preferred delivery option for SGD-CNY transfers.
Is Bank Deposit cheaper than Cash Pickup for Singapore to China transfers?
Cash Pickup is cheaper for transfers to China given its 4.37% average cost (versus 3.79% for Cash Pickup, a difference of 0.58 percentage points).
To save more, consider choosing the cheapest delivery option for China.
What is the cheapest way to send money from Singapore to China?
We evaluated 11 payment and delivery method combinations for Singapore to China remittances.
Based on historical data, Bank Account Transfer → Bank Deposit is the cheapest combination with 1.78% cost.
At the other end of the spectrum, Cash → Bank Deposit is the most expensive combination at 6.14% cost. That is a difference of 4.36 percentage points between the cheapest and most expensive combinations.
Money transfer providers tend to price payment and delivery methods for Singapore to China remittances differently. As you compare options, look for the cheapest payment-delivery method combo to maximize the value of your SGD-CNY transfers.
Does sending more money reduce the cost for Singapore to China transfers?
Larger SGD-CNY transfers are cheaper on average.
The cost of a SGD 260 transfer averages 4.14% as compared to 2.75% for a SGD 645 transfer, a difference of 1.39 percentage points.
How long does it take to send money from Singapore to China?
Based on our analysis, the average transfer time for SGD-CNY transfers is 17 hours, with the fastest transfers completing in less than one hour and the slowest in 144 hours (~6.0 days).
Are instant transfers available from Singapore to China?
Yes, historical data shows that some transfers to China from Singapore can complete in less than one hour.
Note that the actual speed of your SGD-CNY transfer will depend on the chosen provider, payment method, delivery method, and eligibility checks.
Are banks more expensive than money transfer companies for Singapore to China?
Banks in Singapore are more expensive than money transfer providers.
The average cost of banks is 7.14% compared to 4.04% for money transfer providers in Singapore, a difference of 3.09 percentage points.
Why do banks charge more for Singapore to China transfers?
Bank transfers in Singapore cost 7.14% compared to 4.04% for money transfer companies.
The difference is often due to the fact that banks in Singapore provider lower exchange rates and charge high wire transfer fees.
How competitive is the Singapore to China remittance market?
Based on historical data, the competition level in Singapore to China is considered competitive with 13 active providers.
Money transfer providers represent about 76.9% of identified providers in Singapore.
Do I risk overpaying if I do not compare providers for Singapore to China?
Historically, total SGD-CNY transfer cost has varied by 12.32 percentage points. On a SGD 260 transfer, that can translate to SGD 32.03 in savings.
SGD-CNY exchange rate markup also varies across providers. The average markup spread has been about 7.54 percentage points. On a SGD 260 transfer, that could be SGD 19.60 saved from FX alone.
Fees can also make a big difference in this market, with a difference of about SGD 25.00 across providers.
That is why comparing providers can materially change how much of the SGD you send does your recipient receive in China in China.
Latest SGD to CNY Conversion Rates
Here are some latest SGD to CNY (Singapore Dollar to Chinese Yuan) exchange rates for popular conversion amounts*.
| 1 SGD | 5.41 CNY |
| 5 SGD | 27.06 CNY |
| 10 SGD | 54.12 CNY |
| 25 SGD | 135.30 CNY |
| 50 SGD | 270.59 CNY |
| 100 SGD | 541.18 CNY |
| 150 SGD | 811.77 CNY |
| 200 SGD | 1,082.36 CNY |
| 250 SGD | 1,352.95 CNY |
| 300 SGD | 1,623.54 CNY |
| 400 SGD | 2,164.72 CNY |
| 500 SGD | 2,705.90 CNY |
| 600 SGD | 3,247.08 CNY |
| 700 SGD | 3,788.26 CNY |
| 800 SGD | 4,329.44 CNY |
| 1000 SGD | 5,411.80 CNY |
| 1500 SGD | 8,117.70 CNY |
| 2000 SGD | 10,823.60 CNY |
| 2500 SGD | 13,529.50 CNY |
| 3000 SGD | 16,235.40 CNY |
| 4000 SGD | 21,647.20 CNY |
| 5000 SGD | 27,059.00 CNY |
| 10000 SGD | 54,118.00 CNY |
| 15000 SGD | 81,177.00 CNY |
| 20000 SGD | 108,236.00 CNY |
| 30000 SGD | 162,354.00 CNY |
| 40000 SGD | 216,472.00 CNY |
| 50000 SGD | 270,590.00 CNY |
| 100000 SGD | 541,180.00 CNY |
*Based on the Mid-market Exchange Rate
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1 Based on 318 pricing observations across 13 firms over the last 5 years for a SGD 260 money transfer from Singapore to China. Data Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org.
How we analyze remittance data?
Insights are derived from the World Bank's Remittance Prices Worldwide dataset, which collects standardized provider pricing information at defined transfer amounts.
We aggregate this data across multiple providers and multi-year periods to calculate averages, medians, and variability measures in order to identify consistent pricing patterns for the Singapore to China remittance corridor.
RemitFinder does not modify the underlying World Bank data. The analysis presented here is independently calculated from published datasets and is intended for informational and comparison purposes only.