SWIFT/BIC codes in Singapore: banks starting with V

Singapore: banks and their SWIFT/BIC codes

This overview lists 504 banks and financial institutions in Singapore and 880 SWIFT/BIC codes between them. You will need such a code mostly when making international transfers and for payments in a foreign currency.

Select a bank from the list to see the head office code and its other codes. Below the list you can read how codes from Singapore are built, how to send money to Singapore at a fair price and what to check before you pay.

Bank or transfer service for Singapore?

When you transfer money to Singapore with a regular bank, the stated fee is rarely all of what you pay. There is the transfer fee, possibly fees from correspondent banks and, above all, the margin on the exchange rate if the money is converted.

The real cost is often in the rate, rather than in the fee. Check the rate you are offered with the mid-market rate that you find on financial sites.

For a lot of currency pairs, a transfer service is cheaper than a bank, mainly because of the rate. GoldexPay compares the amount that arrives in Singapore with different services.

Check the code before you pay

Have the recipient send you the account details directly from a recent statement. When the code you were given does not match our list, do not guess: check with the recipient or the bank.

This list is compiled from public sources and is updated regularly. Still, banks merge or change codes. Use this list as a starting point rather than the last word; the recipient’s bank details are leading. GoldexPay is not a bank.

Watch out for invoices containing a new account. A valid BIC tells you nothing about who owns the account: criminals use real codes too.

SWIFT transfers to Singapore

Singapore is not part of the SEPA area, so European euro rules do not apply. International transfers to Singapore usually go over the SWIFT network – which is why you need the BIC of the recipient’s bank.

Not every country uses the IBAN – where there is none, the local account number is enough. Ask the recipient which details their bank requires for payments from abroad. On the way to Singapore, a transfer may pass through intermediary banks that charge for their part.

Banks in Singapore beginning with the letter :letter

The letter filter narrows the list to banks from Singapore that begin with :letter to make searching quicker. The totals mentioned above still cover the whole country, not just this letter.

Many institutions appear under their official name, which may start with words like Bank or Banco. The complete list is one click away when you cannot find the bank here.

Which bank in Singapore has the most codes?

Of the 504 banks in Singapore, BNP Paribas Securities Services SA has the most codes. Its head office code is BPTSSGSGXXX.

The number of codes says something about how it registers branches and services than about how big it is. Paying someone at BNP Paribas Securities Services SA? Use BPTSSGSGXXX unless the recipient gives you a branch code.

The Singapore Dollar (SGD) and conversion costs

Singapore uses the Singapore Dollar (SGD). Money sent in a different currency will be converted into SGD on its way to the recipient.

Which bank converts the money makes a difference, because each party uses its own rate. In many cases it is cheaper to send SGD straight away through a transfer service with a good rate. With bigger transfers, even a small gap in the rate can be worth more than the fee.

How SWIFT codes from Singapore are built

A SWIFT code is either 8 or 11 characters long. First comes a four-letter bank code, followed by a two-letter country code and two characters for the location.

Whatever the bank, every code from Singapore have the same country code in positions five and six: the ISO code of the country. Codes with other letters in that position come from a bank abroad, even if the bank name looks familiar.

The long version ends in three characters for a branch, where XXX means the head office. Use a branch code just if the recipient’s bank asks for it; otherwise the head office code is the safe choice.

Incoming international payments in Singapore

Someone abroad who wants to pay you needs a few details about your account – incomplete details often cause delays. Give them your name as registered with the bank, your account number or IBAN, the BIC of your bank and your address, which some banks require.

Your bank’s code appears in our list, yet the version on your own statement or in your banking app is leading. It helps to include the name and city of your bank as well because some forms have separate fields for it.

The amount you receive is often lower than what was sent. Intermediary banks may deduct a fee, your bank may charge for incoming payments, and when currencies differ, an exchange rate margin applies. Agree with the sender who pays which costs, especially for larger amounts.

When does money sent to Singapore arrive?

An international transfer to Singapore typically needs one to a few business days, depending on the currency, the route and the banks involved. Payments made after the cut-off time or on a weekend or public holiday usually go out a business day later.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each gpi transfer gets a unique reference, the UETR. Money transfer services usually provide tracking in their app so you can follow the payment.