Looking to send money overseas from Singapore? Find out how YouTrip’s Overseas Transfer compares to traditional bank transfers!

Whether you’re sending money to family back home, paying for your child’s overseas tuition, or settling cross-border payments, choosing the right international money transfer service matters more than you think.

While traditional bank transfers were once the default method for remitting funds abroad, today’s alternatives offer a faster, cheaper, and more transparent way to send money overseas!

With platforms like YouTrip, Wise, and Revolut, you can enjoy the ease of sending money right from your phone, along with added benefits like better exchange rates, lower fees, and greater convenience. In this guide, we compare YouTrip vs bank transfers, so you can decide which option works best for your international money transfers. ✨

🧐 Need to send money abroad? YouTrip’s overseas transfer service offers some of the best exchange rates with no hidden fees and low transfer costs. Find out how to send money overseas with YouTrip here!

Introducing: YouTrip’s Overseas Money Transfers

Already love using YouTrip for smart and hassle-free spending while travelling? Now, we’re making it just as easy to send money overseas, too! YouTrip’s new overseas transfer feature makes sending money abroad quick, affordable, and hassle-free. ✨

Key features of YouTrip’s new overseas transfer feature:

• Competitive Rates: Send money to 40+ countries worldwide at some of the most competitive exchange rates in the market. YouTrip offers mid-market rates with no markups, helping you get more value with every transfer.

• Low, Transparent Fees: YouTrip charges no hidden fees and offers 100% transparency – you’ll always know the exact amount your recipient will receive. Transfer fees vary based on destination, currency, transfer amount, and payment method. You’ll see the full breakdown before confirming!

• Fast Transfers: Enjoy same-day or even instant transfers for popular corridors like DuitNow (Malaysia), GCash (Philippines), and UPI (India). While some transfers may take a little longer, depending on the transfer method you’ve selected, you’ll receive real-time updates every step of the way.

• Seamless In-App Experience: For existing YouTrip users, you should know how easy the app is to use! With the same intuitive app interface, you can complete international money transfers in just a few taps – anytime, anywhere. No more visits to the bank or struggling with complicated websites.

• Bank-Grade Security & Peace of Mind: Your money is in safe hands. YouTrip is licensed by the Monetary Authority of Singapore (MAS) as a major payment institution. We use bank-grade infrastructure, end-to-end encryption, and a 24/7 anti-fraud monitoring system to keep your transfers secure and protected.

International Money Transfer Guide: YouTrip vs Bank Transfers – read our guide on how to send money from Singapore to Malaysia 🇲🇾

Comparing YouTrip vs Bank Transfers

When compared to modern remittance platforms like YouTrip, traditional bank transfers have their own set of pros and cons.

Feature	YouTrip Overseas Transfer	Traditional Bank Transfer
Exchange Rates	✅ Competitive mid-market rates with no markup	❌ Typically poorer exchange rates with markups
Transfer Fees	✅ Low, transparent fees	❌ Higher and more varied fees (e.g. cable charges, commission, agent fees), though some banks provide fee waivers for selected destinatinos
Transfer Speed	✅ Usually instant or same-day (e.g. via DuitNow, GCash, UPI)	✅ Same-day (with cut-off time) or 1 – 3 days
Security	✅ Regulated by MAS	✅ Strong regulatory backing, trusted for decades
Supported Destinations	👀 40+ countries (with more coming soon)	✅ Typically broader range of destinations

💡 While banks typically offer broader global coverage and support for more currencies, they also come with higher fees, less competitive exchange rates, and longer processing time.

Here’s a comparison if you were to send S$1,000 SGD to Malaysia 🇲🇾 with YouTrip vs a traditional bank transfer:

Feature	YouTrip Overseas Transfer	DBS Remit	OCBC	UOB
SGD to MYR Exchange Rate (as of 5 June 2025)	1 SGD = 3.294 MYR 👑	1 SGD = 3.273 MYR	1 SGD = 3.273 MYR	1 SGD = 3.244 MYR
Fees	S$3.28	S$0 (fee waiver for selected destinations)	S$0 (fee waiver for selected destinations)	S$20 cable charge + S$10 cut on overseas transfers + exchanger rate markup
Amount Received	3,283 MYR 👑	3,273 MYR	3,273 MYR	3,146 MYR
Transfer Speed	Instant (DuitNow) 👑	Same-day (before 2PM SGT)	Same-day (before 2PM SGT)	1 – 5 business days

*Rates taken as of 5 June 2025

International Money Transfer Guide: YouTrip vs Bank Transfers – read our guide on how to send money from Singapore to Philippines 🇵🇭

So, which international money transfer option is better?

There’s no right or wrong answer on which international money transfer service to go for – it’s really up to your personal preference and needs! We recommend taking some time to compare exchange rates, fees, and speed for the platforms available to make an informed decision.

Want to give YouTrip a try? Enjoy fast, secure, and hassle-free overseas transfers with YouTrip in six simple steps 🌍💵:

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 > ‘Set Up Transfer’

5️⃣ Choose your preferred transfer method based on the destination you’re transferring to > ‘+ Add Recipient’ and enter the required details 

• Bank Account
• DuitNow
• Gcash
• UPI

6️⃣ Slide to transfer and voilà! Your recipient will receive the money in their local currency, hassle-free!

Ready to start sending money overseas?

We hope this guide has given you a clear understanding of all you need to know about sending money abroad with a remittance platform like YouTrip vs bank transfers!

If you’re looking for a safe, secure, and affordable way to send money overseas – consider YouTrip! Send money to Malaysia, Indonesia, the Philippines, Europe, and more in a few easy taps 💜 We’re here to solve your international money transfer headaches!

Ready to get started? Sign up for a YouTrip account in minutes – use code <YTBLOG5> to get FREE S$5!

Guides on money transfer services in Singapore:

• DBS Remit Money Transfer Guide
• Ria Money Transfer Guide
• Western Union Money Transfer Guide
• Remitly Money Transfer Guide
• Maribank Overseas Transfer Guide
• Easy and Cheap Overseas Transfers from Singapore (2025 Guide)