How to Handle Trust Bank PayNow Transfer Limits for Supplier Payment to Malaysia
熊猫速汇PandaRemit - 2025-12-19 00:47:44.0 11
When using Trust Bank’s PayNow for cross-border transactions, especially for supplier payments to Malaysia, it’s crucial to understand the platform's transfer limits. Trust Bank enforces a daily cumulative limit of $5,000 for PayNow transactions, and amounts over this threshold can trigger security blocks or delays that might span multiple days. If you're looking to transfer higher amounts, such as $7,500 for a supplier payment, you may face complications that hinder a smooth transaction.
Trust Bank PayNow vs PandaRemit: Key Differences
| Feature | Trust Bank PayNow | PandaRemit |
|---|---|---|
| Daily Limit | $5,000 (Daily cumulative limit) | Varies by verification level and destination |
| Speed | Instant for local SG transactions | 24/7 digital processing for international transfers |
| Cross-border Capability | Limited (SG only) | Designed for international transfers, including Malaysia |
| Complexity | Requires hardware token for large transactions | Streamlined with compliance-based verification |
The Pain Points of Trust Bank PayNow
Trust Bank imposes stringent daily limits on PayNow transfers, especially for larger transactions. These limits are designed for personal, small-scale transfers within Singapore. However, for business use, such as sending $7,500 for supplier payments to Malaysia, these restrictions can create significant bottlenecks. Moreover, the requirement for a hardware token for higher-value transfers can add unnecessary complexity, leading to delays. Additionally, exceeding the PayNow limit could trigger a security hold, which may result in multi-day processing.
The PandaRemit Solution
PandaRemit provides a more robust solution for cross-border supplier payments. Unlike Trust Bank, PandaRemit does not impose fixed low transfer limits. Instead, transfer limits are dynamic and depend on the user’s verification level, the destination country, and compliance checks. For higher-value transfers, additional documentation may be requested in line with anti-money laundering (AML) and know-your-customer (KYC) regulations. Transfers to Malaysia benefit from competitive exchange rates and faster processing times, especially when compared to PayNow’s local transfer limitations. As a licensed and regulated remittance service under the Monetary Authority of Singapore (MAS), PandaRemit ensures compliance with all regulatory requirements while providing a safe and efficient way to send larger amounts abroad.
SEO-Friendly FAQ
Is PandaRemit safe for sending large amounts for supplier payment?
Yes, PandaRemit is a licensed remittance service regulated by the Monetary Authority of Singapore (MAS), ensuring compliance with AML and KYC standards for secure international transfers.
How to increase Trust Bank PayNow limit for one-time supplier payment?
To increase your Trust Bank PayNow limit, you may need to contact the bank for temporary adjustments or complete additional identity verification. However, this may still not suffice for larger cross-border payments.
Time difference between Trust Bank and PandaRemit for Malaysia transfers
While Trust Bank's PayNow service is designed for instant local transfers, PandaRemit processes international transfers 24/7. Depending on the time of day, a transfer to Malaysia via PandaRemit may take a few hours or up to one business day to complete.
