I am currently working in Singapore and would like to transfer money monthly (from SG bank to MY bank) to parents. What is the most cost effective way? - Seedly
 

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Asked by Anonymous

Asked on 23 Oct 2018

I am currently working in Singapore and would like to transfer money monthly (from SG bank to MY bank) to parents. What is the most cost effective way?

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Gabriel Lee
Gabriel Lee
Level 8. Wizard
Updated on 07 Jun 2019

I would recommend using CIMB Bank to do so. Set up a savings account with CIMB Singapore & Malaysia and you can then make transfers from your Singapore account to your Malaysia account instantly and for free through iBanking (CIMB Clicks). Check it out here - https://www.cimbbank.com.sg/en/personal/banking-with-us/services/sg-my-cross-border-convenience.html

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Gabriel Lee
Gabriel Lee

24 Oct 2018

You're most welcome!
Frankie Aufhauser
Frankie Aufhauser

4w ago

Then probably better than Transferwise (dependent on annual total banking fees, if so)
Frankie Aufhauser
Frankie Aufhauser
Level 7. Grand Master
Answered 4w ago

Check Transferwise, it's safe and fast

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