Asked on 16 Jul 2018
Pascal S, MBA Graduate at Singapore Management University
Answered on 03 Mar 2020
I would recommend using Transferwise or equivalent. They are transparent, fast and competitive rates.
I think that might be a possible option. You convert the amount you need via DBS MCA. Additionally, you can also turn on your notification to look out for favourable exchange rates. Can read more here: https://dollarsandsense.sg/studying-overseas-heres-applying-multi-currency-account-makes-financial-sense/
There are other ways to minimise the forex fees, i.e. using Transferwise or WorldFirst- but that will require you to set up an account with them. Quite troublesome. If it's a one-off transfer, I would suggest using DBS MCA instead.