🇸🇬 Pay Suppliers in Singapore
Pay Singapore suppliers for electronics, petrochemicals, precision engineering, finance services
T+0 (2.3s avg within Unicorn network). Save 80% vs traditional banks.
What you need to send money to Singapore
What details do I need to pay suppliers in Singapore?
To pay suppliers in Singapore you need the recipient's Bank Code + Branch + Account (SWIFT/BIC or local bank and branch code), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to Singapore?
Payments to Singapore settle in an average of 2.3 seconds when using local rails such as PayNow Corporate, compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Singapore?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 80% versus banks (e.g. £505 vs £2530 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to Singapore
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 2.5% | 0.5% |
| Payment Fee | £30 | £5 |
| Total Cost (£100,000) | £2,530 | £505 |
| YOUR SAVINGS | N/A | £2,025 (80%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in Singapore
Avoid expensive SWIFT fees. We use local payment systems in Singapore for faster, cheaper settlement.
PayNow Corporate
Instant business payments using company UEN, 24/7
FAST (Fast and Secure Transfers)
Real-time interbank fund transfer, same-day settlement
MEPS+ (MAS Electronic Payment System)
Monetary Authority of Singapore RTGS system
Who Uses This Payment Corridor
Key Industries in Singapore
- Electronics
- Petrochemicals
- Finance
- Precision Engineering
- Pharmaceuticals
Average Transaction: £80k-£350k
Typical Monthly Volume: £400k-£4.5M
Popular Supplier Types
- Electronics manufacturers (Jurong, Ang Mo Kio)
- Petrochemical suppliers (Jurong Island)
- Precision engineering (Woodlands, Sembawang)
- Pharmaceutical companies (Tuas, Biopolis)
What You Need to Know: Singapore Payments
Regulatory Considerations
- MAS (Monetary Authority of Singapore) oversight
- GST (9%) documentation required
- UEN (Unique Entity Number) mandatory for all businesses
- Strict AML/CTF compliance (FATF Tier 1)
Payment Tips for Singapore
- Singapore = Asia's financial and tech hub, extremely efficient
- PayNow Corporate enables instant SGD payments without SWIFT fees
- English-speaking, business-friendly environment
- Strategic location for Southeast Asia supply chains
Why Choose Unicorn for Singapore Payments
Local Rails, Not SWIFT
We use PayNow Corporate and other local systems in Singapore. Avoid 3-4% SWIFT fees and 2-3 day delays.
80% Lower Costs
Save £2,025 on every £100,000 payment. On £400k-£4.5M monthly volume, save up to £60,750 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for Singapore payments.
Real-Time FX Tracking
Upload supplier invoices in SGD. See live P/L as GBP/SGD rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in Singapore? Save 80%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to Singapore
For businesses with high annual FX volume. Not consumer transfers.