SingX Money Transfer: My Honest Review After Using It in 2025
Benjamin Clark - 2025-08-25 17:59:45.0 45
When I first started looking for cheaper ways to send money overseas, traditional banks felt too slow and too expensive. That’s when I came across SingX, a Singapore-based fintech remittance company. After using it several times, here’s my experience—both the good and the not-so-good—and why I eventually started looking into alternatives like Panda Remit.
My Experience with SingX
The sign-up process with SingX was straightforward. Since it’s regulated by the Monetary Authority of Singapore (MAS), I felt reassured that the platform was secure. I signed up using SingPass, which made KYC verification fast.
The biggest highlight for me was transparency. Unlike banks that add hidden markups to their exchange rates, SingX uses the mid-market rate and shows the exact fee upfront. In my transfers, the cost was usually between 0.25%–1% of the amount, which is significantly lower than what I had paid with my bank before.
Transfers were also relatively quick—most of mine arrived the same day or next day, especially if I initiated the transaction in the morning. The recipient always received funds in local currency, which saved them from additional bank charges.
Where SingX Fell Short
While SingX worked well, I noticed some limitations:
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Limited sending countries: It’s great for users in Singapore, Hong Kong, and Australia, but less flexible for people living elsewhere.
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No recurring transfer option: I send money home regularly, so setting up automatic transfers would have been convenient—but SingX doesn’t offer it.
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Digital-only service: Personally I don’t mind, but some people may miss having physical branches or cash pick-up options.
SingX vs Panda Remit: A Quick Comparison
| Feature | SingX | Panda Remit |
|---|---|---|
| Founded | 2014, Singapore | 2018, Singapore |
| Coverage | Mainly Singapore, HK, Australia | 40+ countries across Asia, Oceania, Europe, and North America |
| Exchange Rate | Mid-market rate, small fee | Competitive “Diamond Rates” with frequent promotions |
| Fees | 0.25%–1% of transfer | Fixed low fee, first transfer free |
| Transfer Speed | Same day or next day | Often within minutes |
| Customer Support | Email-based, business hours | 24/7 multilingual support via app & social channels |
| Extra Perks | Transparent pricing | Coupons, community promotions, MasterCard Start Path program recognition |
Why I Tried Panda Remit
Around the same time, I discovered Panda Remit, another fast-growing remittance platform. While SingX is solid, Panda Remit had a few features that appealed to most of users:
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First transfer is free and fixed low fees after that (no surprises, regardless of transfer amount).
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Lightning-fast transfers—in many cases, money arrived within minutes.
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Exclusive promotions such as coupons and “Diamond Rates” for better FX.
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24/7 customer service, something SingX doesn’t provide.
Panda Remit also has a strong community presence on Instagram and Facebook, where they share daily FX rate updates and exclusive coupon codes for loyal users.
Final Thoughts
If you live in Singapore and want a transparent, MAS-regulated money transfer service, SingX is a strong option. It’s affordable, reliable, and far better than using a bank.
But if you value speed, wider coverage, and extra perks, Panda Remit might be the better choice. (And Panda Remit is also licensed by the Monetary Authority of Singapore (MAS) as a major payment institution under the Payment Services Act 2019 (PSA) ）
