deposit some USD in FSM in advance.

• default solution: FSM cash account — deposit to FSM USD cash account, then convert to SGD using live rate as shown in the currency converter https://secure.fundsupermart.com/fsm/foreign-exchange-rates. FSM bid/ask executable spread is 70 pips i.e. 0.5% but better [1] than a 0.5% retail bank handling fee per se. For example, on 28 May (2019?), I made 1.373 on FSM and 1.3755 at ChangeAlley
  • one route: cash accounts -> Transfer -> review the exchange rate in the form of 0.7xxx -> confirm. In SGD cash account transaction history, you can see the fx rate in the form of 1.352xx
  • [1] incurring the 70-pip spread is equivalent to selling USD at the HIGHER of bid/ask spread and then paying 0.5% handling fee. Of course the higher rate is even better than the best offer price in the interbank market and simply too good to be available.
• inferior solution: citi.sg preferential FX rate — 100 pips better than non-preferential rate (1.37 vs 1.36), so for USD 25k I can reduce transaction cost by S$250.
• solution: ChangeAlley — carry up to 2k USD cash on flights -> ChangeAlley, but if I don’t need to convert this amount, must carry back to U.S. Unsafe to keep at home.
  • B/A spread typically below 60 pips but I have seen 20 pips.
• simple solution: ATM withdrawal from maybank khm? not ideal, due to FX spread
• POEM seem to show B/A spread of 100 pips, so roughly 50 pips off the best market price.