The Monetary Authority of Singapore keeps a public list called the Financial Institutions Directory. Anyone can search it, free, at eservices.mas.gov.sg/fid. Under the **Payments** section you will find "Money-changing Licensee" and the payment institution categories that cover remittance. If the shop or app you are about to use is not listed there, it is not licensed. Why this matters more than the rate: an unlicensed operator may quote you a better number, but if your money does not arrive there is no regulator to complain to and usually no way to get it back. A licensed one is accountable. Before you send: • Search the company's name in the MAS directory. • Use the directory to check a company's real contact details too — scammers copy the names and logos of licensed firms. • Keep the receipt for every transfer. • Compare the total cost, not just the rate. A good rate with a high fee can be worse overall. If someone offers to move money for you informally — through a friend, a shop back room, or a chat group — you are outside the licensed system entirely.