SWIFT/BIC codes in Singapore: banks starting with R

SWIFT/BIC codes in Singapore

On this page you find codes for 504 institutions in Singapore – 880 codes altogether. A SWIFT code shows every bank in the chain exactly which bank should receive the money.

Look for the recipient’s bank in the list and click through for all codes we have. The rest of this page explain how the codes work, the cost of transfers and how to avoid mistakes before you send money.

Getting paid from abroad into an account in Singapore

When you are waiting for money from abroad on an account in Singapore, give the sender a complete set of details. Share the account holder’s name, the IBAN or account number, the BIC of your bank and your address, which some banks require.

Find your bank in the list on this page and compare the code with your own bank details. Some sending banks may also ask for the name and address of your bank, so keep it at hand.

What lands in your account can be lower than the amount sent. Intermediary banks may deduct a fee and your own bank may charge for processing, and if the money is converted, a markup on the rate applies. Make clear with the sender who covers the fees.

Most SWIFT codes in Singapore: BNP Paribas Securities Services SA

Of the 504 banks in Singapore, BNP Paribas Securities Services SA is listed with the largest number of SWIFT codes. Its main office has BPTSSGSGXXX and that code covers most payments.

The number of codes tells you something about how it organises its payments than about its size. Making a payment to BNP Paribas Securities Services SA? Go with BPTSSGSGXXX except when the recipient gives you a branch code.

Tracking a payment to Singapore

An international transfer to Singapore usually needs one to a few business days, depending on the currency, the route and the banks involved. Bank holidays in Singapore or in the sending country add extra days, because banks do not process payments on those days.

If a transfer seems delayed, the sender should contact the sending bank and ask for the status or the UETR – the receiving bank often cannot see a payment that has not arrived. Save your transfer receipt until the recipient confirms – you will need it if something goes wrong.

The structure of a Singapore SWIFT/BIC code

A BIC is 8 or 11 characters long and follows a fixed pattern. It starts with a four-letter bank code, then a two-letter country code and a two-character location code.

You can recognise a bank code from Singapore by letters five and six. When those two letters do not match Singapore, you are looking at a bank somewhere else, so check again.

When a code ends in XXX, it refers to the head office. In most cases the head office code is what you need unless the recipient asks for a specific branch.

SWIFT transfers to Singapore

Since Singapore is outside SEPA, a transfer from abroad normally goes through SWIFT. This means you always need the SWIFT/BIC code of the receiving bank, together with the account number or IBAN.

In some countries, accounts are identified by a domestic account number rather than an IBAN. The receiving bank often provides a list of required details for incoming international payments. On the way to Singapore, a payment may pass through correspondent banks that take a fee.

The cheapest way to send money to Singapore

A bank transfer to Singapore often costs more than you think. You pay the transfer fee, possibly fees from correspondent banks and, most importantly, the margin on the exchange rate if the money is converted.

That exchange rate margin is often the largest cost item. An easy check: set the offered rate next to the mid-market rate and work out the difference on your amount.

For a lot of currency pairs, a transfer service turns out to be less expensive than a bank. GoldexPay compares these providers side by side, showing what actually arrives in Singapore.

Sending SGD to Singapore

Singapore uses the Singapore Dollar. When you pay money in a different currency, it gets converted at some point: by your bank, an intermediary or the receiving bank.

Who converts the money makes a difference. Often it is cheaper to send SGD straight away through a provider with a good rate so the receiving bank does not need to convert again. On larger amounts, even a small difference in the rate adds up quickly.

Check the code before you pay

The safest source for a SWIFT code is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. When the code you were given differs from the code listed here, stop and ask: check with the recipient or the bank.

This list is based on publicly available sources. Banks merge, close branches and retire codes. Before a payment of any size, confirm the code with the recipient’s bank. GoldexPay is not a bank and has no link to the banks in this list.

Watch out for invoices with changed bank details. A valid BIC tells you nothing about whether a request is genuine.

Banks in Singapore starting with :letter

You are looking at a selection: just banks in Singapore with a name starting with :letter. The counts in the introduction still refer to the whole country.

Bank not listed? The registered name may begin with another word – think of the full legal name instead of the brand. Use the full list for Singapore if you are not sure the exact name.