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Ng Wei En
05 Jun 2020
Analyst at Mastercard
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Better switch currencies by something like TransferWise, the brokers often charge hefty fees for this currency conversion and they often do not state the % fee transparently.
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There are 2 ways to go about doing this.
You transfer SGD to your broker and use the FX conversion rates provided by the broker to convert to USD.
You convert to USD at MCA account and perform a DBS Remit with the following details: https://www.dbs.com.sg/personal/support/investm... Performing USD remittance via DBS Remit should be at no charge if I am not wrong.
I would imagine both to offer similar FX conversion rates. But for a more fuss-free and quicker experience, I would suggest 1.βββ