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Anonymous

02 Aug 2021

Saving Hacks

Transferring USD from Stripe to Singapore Bank Account

Stripe charges a 1% fee for converting USD into SGD when remitting into a Singapore bank account, and their FX rates aren't favorable.

I am thinking of transferring USD directly into DBS multi-currency account and then converting it into SGD. Not sure if this is the best way to do it.

The number of fees on Stripe and our banks is quite huge added up together, anyone with a better solution?

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Converting USD using a DBS MCA is one way to minimize fees. DBS MCA has decent fx rates.

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