Asked by Anonymous
Asked on 16 Jul 2018
I did the former thinking the pound will strengthen. Still waiting! The former doesn't incur any costs. Make sure that they specifically state remitting in Sterling Pounds though in the advice.
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.