The mid-market rate, also known as the interbank rate, is the mid-point between the buy and sell prices of two currencies on the global market. This means that it's the true exchange rate, without the extra margin that a lot of banks and money transfer services add on to make a profit.It's always recommended to compare the mid-market rate against the rate you're offered to see if it's a competitive deal or not. The calculator below will give you an idea of the live mid-market rate.1
DBS Bank exchange rates
Compare the exchange rates from DBS Bank before making your next international money transfer.
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If you're looking to send an international money transfer or receive an overseas payment, it's important to understand how the exchange rate can affect the amount of money that ends up with your recipient at the end of the day. Typically, Singapore's major banks like DBS, OCBC and UOB tend to offer similar foreign exchange rates to one another. So while it may seem convenient to go with your current bank, specialised money transfer services generally work out to be much cheaper.
Check out our guide below for the exchange rates offered by DBS Bank to see how they stack up against other money transfer services.
What are DBS Bank's exchange rates?
To find out what the exchange rate is to send AUD with DBS Bank, you'll need to either have an existing account with DBS or call and speak to one of its currency specialists.
In Australia, the banks generally add around 5% to 10% to the mid-market exchange rate, so you can expect to see something similar here. A lot of specialist money transfer services, by comparison, will only add a margin of 1% to 2%. Get some quotes below to see how DBS Bank compares to the other options and to the mid-market rate.
Sending money with DBS Bank: What to know
What we like
- Same day transfers at $0 fees. There are no transfer fees when you make online transfers to Australia, Canada, China, Eurozone countries, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines Thailand, UK and USA.
- Locked in FX rates. You can get your preferred rates through foreign exchange lock-ins and also set up auto FX transfers at your preferred rates for amounts above SGD$1,000.
What to watch out for
- Uncompetitive exchange rates. DBS Bank often adds a larger margin to the exchange rate compared to specialist money transfer services.
- High fees for transfers to other countries. Keep an eye out for both sending and receiving fees, especially for countries that do not qualify for $0 fee transfers.
How do DBS Bank's exchange rates compare?
DBS Bank's $0 transfer fee to popular countries may be an attractive feature, but it's always worth comparing exchange rates before you send money overseas to see if you can save. Often, a specialist money transfer company can offer you better exchange rates than your local bank, even if they charge a higher transfer fee.
Use the table below to see how much your transfer would cost with a range of different providers and calculate how much you could receive through them.
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
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International Money Transfer OffersImportant Information*
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
$0 transfer fees for Finder customers.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Send guarantees to match any competitor’s exchange rate. T&Cs apply.
Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
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