Singapore - Transaction costs

Average transaction cost of sending remittances from a specific country (%)

Average transaction cost of sending remittances from a specific country (%) in Singapore was 3.31 as of 2020. Its highest value over the past 9 years was 5.94 in 2015, while its lowest value was 3.31 in 2020.

Definition: Average transaction cost of sending remittance from a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database from a specific country.

Source: World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org

See also:

Year Value
2011 4.63
2012 4.80
2013 4.91
2014 4.38
2015 5.94
2016 4.44
2017 4.55
2018 4.07
2019 4.04
2020 3.31

Classification

Topic: Financial Sector Indicators

Sub-Topic: Access