Sending money home: what every MDW in Singapore should know about remittances

For most migrant domestic workers in Singapore, sending money home is not a transaction — it is the whole point. It is school fees, a parent's medication, a sibling's future. Getting it right matters.

Yet many workers still use the first remittance option they were told about when they arrived, without ever comparing alternatives. That default choice can quietly cost hundreds of dollars a year.

The three things that actually matter

When you compare remittance services, focus on three things: the transfer fee, the exchange rate margin, and the transfer speed. A service with zero fees may still offer a worse exchange rate, meaning you lose more money there than you saved on the fee. Always check the mid-market rate (Google the currency pair) and compare what you are actually being offered.

Options available in Singapore

Workers in Singapore generally have several routes:

Banks — reliable but often the most expensive, with high fees and wider exchange rate margins. Transfers can take one to three business days.

Licensed money changers and remittance shops — common in Lucky Plaza, Peninsula Plaza, and Jurong Point. Rates are often competitive, especially for Philippines peso, Indonesian rupiah, and Indian rupee. Many workers trust these shops because they have used them for years.

Digital apps — services like Wise, GCash (for Philippines), and similar platforms can offer close-to-mid-market rates with lower fees. They require a smartphone and a local bank account or debit card. If you are comfortable with apps, they are worth exploring.

Employer-facilitated transfers — some employers help workers send money through their own bank. This can be convenient but workers should always know the rate being applied and retain control of the process.

A few practical points

Always keep your receipt or transaction confirmation. If a transfer is delayed, this is your proof. Check whether your recipient country has a receiving fee — some banks abroad charge to accept international transfers, and that cost comes off the amount your family receives.

MOM does not regulate remittance pricing, but all remittance businesses operating in Singapore must be licensed by MAS. You can verify any provider at the MAS Register of Financial Institutions before you use them.

Being informed is one of the most practical forms of financial independence. Your salary is yours. How you send it should be your informed choice, not just a habit.

At Anisya, we believe workers deserve clear information — about remittances, rights, and everything in between. Browse our resources or reach out if you have questions.