Do you intend to transfer money to Singapore from the UK? This could be because you're a British citizen and you plan to emigrate to the Lion City.
Alternatively, this may be because you're a Singaporean living in the UK, and you want to make regular payments to Singapore. This could be to pay the mortgage on your Singapore property, or to send money to your friends and family back home.
In either case, when you transfer money to Singapore from the UK, you'll want to get a highly competitive pound to Singapore dollar exchange rate. After all, this will help lift the Singapore dollar total you receive in your Singapore bank account.
In turn, this will help you get your new life in Singapore off to a great start, cut your mortgage costs, or be a handy financial boost for your family members.
So what can you do to get a competitive pound to Singapore dollar exchange rate? Well, find some helpful guidance below. In addition, to get a highly competitive GBP to SGD exchange rate, simply Get A Quote in the box on the right-hand side of this page.
We'll be delighted to help you increase your Singapore dollar amount, when you transfer money from the UK.
1. Keep track of the pound to Singapore dollar exchange rate.
The first way to lift your GBP to SGD exchange rate is to stay up-to-date with the exchange rate.
After all, when you know if British sterling is strengthening versus the Singapore dollar, this can help you decide when it's a good time to transfer money to Singapore.
To stay updated with the pound to Singapore dollar exchange rate, first go to Pure FX's Rates & Tools page.
There, on the Latest Market Rates Widget, select GBP to SGD. You'll see today's pound to Singapore dollar interbank exchange rate, as well as the exchange rate for the last seven days.
This way, you can check if the pound sterling is rising versus Singapore's currency.
2. Find out what's affecting the GBP to SGD exchange rate recently.
A second method to increase your Singapore dollar total when you transfer money is find out what's affecting the exchange rate recently.
After all, when you know that the GBP is rising because the UK economy is doing well, or the SGD is weakening because the Monetary Authority of Singapore (MAS) looks set to cut interest rates, this can help you decide when to exchange currencies.
To find out what's affecting the value of the pound versus the Singapore dollar lately, simply go to Pure FX's GBP to SGD Exchange Rate Updates page. Here, you'll see Pure FX's latest news about the pound to Singapore dollar.
This will include the factors that have affected the value of sterling versus Singapore's currency in the recent past, to help you with your money transfer.
3. Choose who to transfer your money with carefully.
A third way to lift your pound to Singapore dollar exchange rate is to choose with care the company that you transfer money with.
After all, it might be your instinct to exchange GBP to SGD with your high street bank, as you'd normally use your bank for your other financial dealings. However, Pure FX will offer you a highly competitive exchange rate to transfer money to Singapore.
In addition, Pure FX is authorised by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number 902022), as a trading name of Foreign Currency Direct. As a result of this, we are required to hold your funds in segregated bank accounts.
Also, Pure FX has won the independent review platform Feefo's 'Gold Trusted Service' award for the last three years, in 2016, 2017 and 2018: http://ww2.feefo.com/en-gb/reviews/pure-fx
4. Think about whether to secure your Singapore dollars in advance.
Do you intend to transfer money to Singapore, but don't yet want to exchange currencies? This might be because you're still planning to buy a property in Singapore, emigrate to the Lion City, or do business with a Singapore company.
In either way, it could help you to know that you can fix your exchange rate in advance without sending money to Singapore, with a forward contract.
With a forward contract, you lock in the pound to Singapore dollar exchange rate as it stands. You put down an initial deposit of approximately 10% of the total funds that you intend to transfer, then you can send your money to Singapore at any time in the 12 months.
This can give you peace of mind about the GBP to SGD exchange rate you'll receive, without tying up your money ahead of time.
5. Speak to a Pure FX currency dealer about your money transfer.
A fifth way to lift your pound to Singapore dollar exchange rate is to speak to a Pure FX currency dealer about your money transfer.
This is because he or she will have transferred money for hundreds of satisfied clients, and can offer you helpful guidance tailored to your needs. This includes explaining the transfer process, and telling you what's affected the exchange rate lately.
So to conclude, with this guidance, you can increase your pounds to Singapore dollar exchange rate. Keep it mind ahead of your money transfer, and Get A Quote by entering your details into the form at the top-right of this page.
In addition, if you have any questions about exchanging pounds for Singapore dollars, Contact Us.