If you work with clients in Singapore, getting paid shouldn’t feel like jumping through hoops. But if you’ve ever tried to receive Singapore dollars from overseas, you know the drill—slow international transfers, confusing bank codes, and fees that quietly eat into your income.
Wise changes that. It gives you local Singaporean account details, so your clients can pay you like you’re right there in Singapore. No international wire fees. No bad exchange rates. Just simple, fast payments.
Here’s exactly how to set it up and start receiving SGD payments from Singaporean clients.
Why Wise Is the Best Way to Receive SGD
Most banks charge high fees for international transfers. They also give you a poor exchange rate and hide the difference in the fine print. Wise does the opposite.
When you use Wise to receive Singapore dollars, your clients send money to a local Singaporean account. That means they pay like they’re transferring to any other Singapore bank—no international wire fees, no currency conversion on their end.
Once the money hits your Wise account, you hold it in SGD. You can keep it there, convert it to your local currency at the real exchange rate, or spend it directly with a Wise card.
The key advantage? You get the mid-market exchange rate—the same one you see on Google. No markups. No hidden fees.
How do I Set Up SGD Receiving with Wise?
The setup takes about ten minutes. Here’s what you do.
1. Open a Wise Account
If you don’t have one yet, sign up on the Wise website or app. You’ll need to provide basic information like your name, email, and address.
2. Add SGD to Your Currencies
Once your account is open, go to your balances and add Singapore dollars (SGD). This tells Wise you want to hold and receive money in that currency.
3. Get Verified
Wise needs to verify your identity before you can receive money. This is standard practice and usually takes less than a day. You’ll need to upload a photo of your ID—passport, driver’s license, or national ID card.
4. Get Your SGD Account Details
After verification, go to your SGD balance and click “Get your account details” or follow the on-screen instructions. Wise will generate your personal Singaporean bank details.
You’ll receive:
- Your name (as it appears on your Wise account)
- Your account number (your unique Wise account number)
These details are not a traditional bank account, but they work exactly the same way for receiving money.
5. Share Your Details with Your Client
Give your Singaporean client your account details. They send a regular domestic bank transfer within Singapore, and the money lands in your Wise SGD balance.
That’s it. No international wires. No SWIFT codes. Just a simple local transfer.
How Your SGD Account Details Work
Your SGD account details let you receive money in two ways:
Domestic payments from Singapore. Your client sends a bank transfer in SGD from a Singaporean bank. This is the method you want. It’s free and fast.
International payments via SWIFT. Someone outside Singapore can send you SGD through the SWIFT system. This usually comes with a fee.
- GIRO transfers (for personal accounts)
- MEPS transfers
- Cash or cheque payments
- SWIFT transfers in currencies other than SGD
Make sure your client sends a domestic Singapore bank transfer in SGD. That’s the fastest and cheapest way.
How Long Does It Take to Receive the Money?
Speed depends on how your client sends the payment.
Domestic Singaporean transfers usually take just a few minutes. Sometimes up to one business day.
International SWIFT payments take about one working day. Sometimes up to five working days depending on the banks involved.
In most cases, your client sends a domestic transfer, and you see the money in your Wise account within minutes.
What Does It Cost to Receive SGD?
This is the part that surprises people in a good way.
Receiving domestic Singaporean transfers is free.
There’s no fee to receive money from a Singaporean bank account into your Wise SGD balance.
Receiving international SWIFT payments
has a flat fee and correspondent bank fees may apply. But if your client sends a domestic transfer (which is what you want), you pay nothing to receive.
There are no limits on how much you can receive. Wise doesn’t impose receiving limits for SGD.
Important: Transfer Limits to Know
For domestic FAST transfers within Singapore, there’s a limit of 200,000 SGD per transfer. Any amount above that will be returned to the sender.
For business accounts, GIRO transfers have a limit of 90 million SGD per transfer and MEPS transfers have no limits.
If you’re a Singapore resident, there’s also a 20,000 SGD holding limit at the end of each day for personal accounts. And Singapore residents have a 100,000 SGD sending and spending limit per 12 months.
These limits mostly affect people living in Singapore. If you live elsewhere, they don’t apply to you.
Wise Personal vs Wise Business for SGD Receiving
Both Personal and Business accounts let you receive SGD the same way. The account details work identically.
The difference comes down to what you do with the money after you receive it.
If you’re a freelancer or solopreneur with a few Singaporean clients, a Personal account works fine. But if you’re running a business—invoicing multiple clients, paying contractors, or managing team expenses—the Business account gives you extra tools like invoicing, batch payments, and accounting software integration.
Either way, receiving SGD payments works the same.
Practical Tips for Getting Paid Smoothly
Here are a few things I’ve learned from helping remote workers get paid by Singaporean clients.
Double-check your name. The name on your Wise account must match exactly what your client puts on the transfer. If there’s a mismatch, the payment might be delayed or rejected.
Send your client a payment request. Wise lets you generate a payment request link. Your client clicks it, enters the amount, and pays. It reduces errors and speeds things up.
Keep some SGD in your account. If you convert everything immediately, you might miss out on a better exchange rate later. Wise lets you hold SGD for as long as you want, so you can choose when to convert.
Watch for transfer method. Make sure your client uses a domestic Singapore bank transfer, not an international wire. Domestic transfers are free and fast. International wires cost money and take longer.
Check your eligibility. Depending on your country of residence, you may not be eligible to open an SGD balance. Check with Wise support if you’re unsure.
Frequently Asked Questions
Do I need a Singaporean bank account to receive SGD?
No. Wise gives you Singaporean account details without needing a local bank account. Your clients pay you like you’re in Singapore.
Can I receive SGD if I live outside Singapore?
Yes. Wise provides SGD account details regardless of where you live, as long as you’re eligible.
Are there any monthly fees for holding SGD?
No. Wise doesn’t charge monthly fees for holding any currency.
How do I convert SGD to my local currency?
Go to your Wise account, select your SGD balance, and choose “Convert.” Wise uses the mid-market exchange rate and shows you the fee upfront before you confirm.
Can I spend SGD directly?
Yes. If you have a Wise card, you can spend SGD directly or convert it to another currency at the point of sale.
Is Wise safe to use?
Yes. Wise is regulated as an Electronic Money Institution and is licensed as a Major Payment Institution by the Monetary Authority of Singapore (MAS). Your money is stored in low-risk financial institutions.
What if my client sends more than 200,000 SGD?
For domestic FAST transfers, amounts above 200,000 SGD will be returned to the sender. You may need to split the payment or use a different transfer method.
Final Thoughts
Getting paid by Singaporean clients used to be a headache. International wire fees, bad exchange rates, and waiting days for money to arrive. Wise fixes all of that.
You get local Singaporean account details. Your clients pay like you’re next door. The money lands in minutes. And you pay nothing to receive it.
The setup takes ten minutes. The peace of mind lasts forever.
If you work with Singaporean clients, this is the simplest way to get paid. No bank visits. No complicated forms. Just an account number and money in your account.
What’s holding you back from setting this up today?
