Looking to send money overseas with Ria Money Transfer? Here’s a comprehensive guide of everything you need to know — from features to fees, and exchange rates to how to send money overseas.
If you’re looking to send money overseas, Ria Money Transfer is a solid option as one of the world’s largest money transfer services. So, if you’re sending money overseas, here’s the full scoop on Ria as we dive into its features, fees, exchange rates, and transfer process.
Exploring alternatives? YouTrip is another great option for overseas transfers, offering the best rates, no hidden fees, and some of the lowest transfer costs on the market. Read on to uncover which platform suits your needs best, and start saving on your international money transfers today!
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What is Ria Money Transfer?
Image credits: Ria Money Transfer
Ria is an international money transfer service with over 500,000 agent locations worldwide. You can send money online, via the Ria app, or in-person. Ria Money Transfer supports transfers to over 190 countries in over 100 currencies, making it a go-to platform for convenient and quick remittances.
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Ria Money Transfer Exchange Rates: Are they competitive?
Here’s a look at Ria Money Transfer’s exchange rate for popular currencies. For comparison, we’ll be adding YouTrip to the mix:
| YouTrip | Ria Money Transfer | |
|---|---|---|
| MYR | S$1 = 3.294 MYR | S$1 = 3.290 MYR |
| IDR | S$1 = 11,840 IDR | S$1 = 11,800 IDR |
| INR | S$1 = 63.12 INR | S$1 = 62.81 INR |
| PHP | S$1 = 43.30 PHP | S$1 = 43.30 PHP |
| USD | S$1 = 0.7446 USD | S$1 = 0.7291 USD |
| EUR | S$1 = 0.7077 EUR | S$1 = 0.6944 EUR |
*Rates taken as of 12 Dec 2024
Ria Money Transfer has competitive exchange rates, but they do add a markup to the mid-market exchange rate which means you might not get the best possible rate compared to services that utilise wholesale exchange rates like YouTrip.
Wholesale exchange rates are real-time exchange rates close to the published rates you see on Google, XE.com, and other financial sites. So if you’re looking to save more on your money transfers, always compare exchange rates before hitting ‘Send’.
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Ria Money Transfer fees: How much does a transfer cost?
Ria Money Transfer’s fees depend on:
- The transfer destination
- The amount you’re sending
- The payment method
👉 Bank transfers are typically cheaper, while credit or debit card payments may be faster, but pricier (watch out for potential cash advance fees from credit card providers!)
👉 Note: If you’re sending money from Singapore, payments for your first transfer will have to be in-store. After that, more payment methods such as PayNow will be available.
- The delivery method
👉 Sending to a bank account might differ in cost compared to cash pickups
Using the exchange rates above and factoring in the fees, here’s how much your recipient would receive if you transferred S$1,000 to their bank account for the following currencies:
| YouTrip | Ria | |
|---|---|---|
| MYR | S$1,000 = 3,289.78 MYR Fees included: S$1.28 | S$1,000 = 3,280.13 MYR Fees included: S$3 |
| IDR | S$1,000 = 11,812,057.60 IDR Fees included: S$2.36 | S$1,000 = 11,752,800 IDR Fees included: S$4 |
| INR | S$1,000 = 62,933.16 INR Fees included: S$2.96 | S$1,000 = 62,621.57 INR Fees included: S$3 |
| PHP | S$1,000 = 43,104.71 PHP Fees included: S$4.51 | S$1,000 = 43,196.08 PHP Fees included: S$2.40 |
| USD | S$1,000 = 741.54 USD Fees included: S$4.10 | S$1,000 = 720.35 USD Fees included: S$12 |
| EUR | SS$1,000 = 705.35 EUR Fess included: S$3.31 | S$1,000 = 689.53 EUR Fees included: S$7 |
*Rates taken as of 12 Dec 2024
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How to send money with Ria Money Transfer in the app or online
Here’s how to get started:
1️⃣ Log in or sign up for a Ria account on the app or website and verify your identity
2️⃣ Click ‘Send’ or ‘Send Money’
3️⃣ Select the destination you’re sending money to
4️⃣ Enter the amount you wish to transfer under ‘You send’ or ‘Recipient gets’
5️⃣ Select your delivery method (bank account, cash pick up, mobile wallet)
6️⃣ Enter your recipient’s details > Select your payment method (bank account, debit or credit card) and pay for your transfer
7️⃣ Make sure your details are correct, hit ‘Submit’ and your transfer is on its way to your recipient.
Ria will send you email updates about your transfer, or you can track it using their transfer tracking tool.
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Ria delivery times
The quickest way to pay for your transfer is by credit or debit card, or by cash in a Ria branch. However, the longest but least expensive way to pay is by bank transfers.
- Cash pick-ups: One business day
- Bank transfers: Up to 4 business days
- Debit/credit card transfers: Within 15 minutes to 3 hours
Note that transfers may take longer during weekends and public holidays, or if they’re being flagged for a review. So keep an eye on your email — Ria might reach out if they need extra information from you to process your transfer.
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What will I need for a transfer?
- Your recipient’s name, address, and contact information
- Bank account information (IBAN or SWIFT code) if you’re sending to a bank
- Your ID for verification when setting up your account
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Alternative options: Send money overseas with the best rates via YouTrip
Send money overseas to 40+ countries with the best rates all day and no hidden fees with YouTrip. Experience same-day or even instant transfers for popular currencies with Duitnow, Gcash and UPI — with no cut-off timings anytime, any day.
Here’s a six-step guide on how to send money overseas with YouTrip:
1️⃣ Sign up for YouTrip
Don’t have an account yet? Sign up now and use the promo code <YTBLOG5> for free S$5!
2️⃣ Top up your YouTrip wallet with a Linked Bank Account (eGIRO) or PayNow to ensure your SGD wallet has sufficient funds
3️⃣ Click ‘Transfer’ > ‘Transfer Overseas’ > Select the desired currency you wish to transfer
4️⃣ Enter the amount you want to transfer in SGD > Choose your preferred transfer method based on the destination you’re transferring to:
- Bank Account
- DuitNow
- Gcash
- UPI
5️⃣ Tap ‘Set Up Transfer’ > ‘+ Add Recipient’ and enter the required details
6️⃣ Slide to transfer and voilà! Your recipient will receive the money in their local currency, hassle-free!
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Save more on your overseas transfers with YouTrip
Sending money overseas has never been easier, faster, or more affordable. With YouTrip, you’re in control of every aspect of your transfer — from getting the best exchange rates to low transfer fees.
Ready to get started? Sign up today with <YTBLOG5> to get FREE S$5 in your account and experience a smarter way to transfer money internationally!
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Bon voyage!
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