SWIFT/BIC codes in Singapore

Finding a SWIFT code in Singapore

Our directory lists 504 banks and other institutions in Singapore. A SWIFT code tells the banks handling a transfer which institution is meant to get the money.

Each bank has its own page with its main code and if there are any, branch codes. Further down you can read how codes from Singapore are built, how to send money to Singapore at a fair price and how to check a code before you pay.

The largest SWIFT network in Singapore: BNP Paribas Securities Services SA

Of all banks in Singapore, BNP Paribas Securities Services SA has the largest number of SWIFT codes. Its head office code is BPTSSGSGXXX.

Practice differs in how many codes they register, so the count is not a ranking of size. Unless a branch code is given, BPTSSGSGXXX is fine for a payment to BNP Paribas Securities Services SA.

Paying in SGD: what conversion costs you

Bank accounts in Singapore are usually held in SGD – the Singapore Dollar. If you send another currency, the amount gets converted at some point.

Which bank converts the payment makes a difference. In many cases you pay less if you send SGD straight away via a provider that converts near the mid-market rate. On larger amounts, a seemingly small gap in the rate can be worth more than the fee.

How reliable is this list?

The safest source for the BIC is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. When the code you were given differs from our list, stop and ask.

Our SWIFT/BIC directory draws on publicly available sources and is updated regularly. Institutions merge, close branches and change codes – a directory can be a step behind. Treat this list as a reference, not as the final word; the recipient’s bank details are leading. We are a comparison service for money transfers.

Fraudsters often send payment requests with changed bank details that look completely genuine. Always confirm a change of bank details by phone.

What a transfer to Singapore really costs

When you transfer money to Singapore via your bank, the fee you see is rarely all of the cost. On top of a fixed fee, correspondent banks may take a cut and, if currencies are converted, the bank usually uses a rate below the actual market rate.

The markup on the rate is often the largest cost item because it is hidden in the rate. Compare the bank’s rate against the mid-market rate.

Money transfer services often offer a rate near the mid-market rate. Before you send money to Singapore, take a minute comparing what arrives on GoldexPay instead of going straight to your bank.

What the letters in a Singapore BIC mean

Every SWIFT/BIC code consists of 8 or 11 characters. Characters one to four stand for the bank, the fifth and sixth characters are the country code and the next two give the location.

Whatever the bank, all Singapore codes share the same fifth and sixth letters. If those two letters point to another country, you are looking at a bank somewhere else.

When a code ends in XXX, it means the main office. For most transfers the head office code is fine.

When does money sent to Singapore arrive?

How quickly a payment reaches Singapore is determined by a few things: the currency, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Transfers sent after the cut-off time or just before a weekend or public holiday usually go out the next business day.

If the money seems late, the sender should contact the sending bank for a trace – the receiving bank often cannot see a payment that has not arrived. Money transfer services usually show a status in their app.

Receiving money in Singapore from abroad

If you are waiting for money from abroad on an account in Singapore, give the sender everything they need in one go. Give them the account holder’s name, the IBAN or account number, the BIC of your bank and your address, which some banks require.

Your bank’s code appears in our list but always compare it with your own bank details. Certain banks may also want the name and address of your bank.

The amount you receive is often lower than the amount sent. Intermediary banks may deduct a fee, your bank may charge for incoming payments, and if the money is converted, a markup on the rate applies. Agree with the sender who covers the fees.

International payments to Singapore and the BIC

Because Singapore is outside SEPA, a transfer from abroad is usually sent through SWIFT. This means you always need the BIC of the recipient’s bank.

Not all countries use the IBAN – where there is none, the local account number is enough. The recipient’s bank often provides instructions for incoming international payments. Before it arrives, a payment may go through intermediary banks that charge for their part.