The Best Way to Send Money from Singapore to Malaysia: Panda Remit to TNG Wallet
熊猫速汇PandaRemit - 2025-12-23 16:20:29.0 6
When it comes to sending money from Singapore to Malaysia, Panda Remit stands out as one of the best options for transferring funds directly to a Touch 'n Go (TNG) wallet. This seamless service is not only convenient but also highly cost-effective, offering competitive exchange rates and instant transfers.
Panda Remit is the official partner of Touch 'n Go (TNG) and supports local payments through PayNow in Singapore, ensuring a quick and hassle-free transaction process. In this article, we'll guide you on how to use Panda Remit and Touch 'n Go, explore the advantages of using this service over traditional banks, and compare the exchange rates and fees for the most efficient remittance experience.
To get started, you can refer to the official guide on how to complete a transaction via TNG App and Panda Remit App.
Why Sending to TNG Wallet Is Better Than Bank Transfers
Sending money to a TNG wallet offers distinct advantages over traditional bank transfers. For one, it eliminates the need for complicated SWIFT codes and lengthy banking procedures that often come with international wire transfers. This makes it the perfect option for individuals who are not familiar with banking processes or those who do not have a local Malaysian bank account, such as elderly relatives or students studying abroad.
Comparing Panda Remit with Traditional Banks
| Service | Exchange Rate Transparency | Transfer Speed | Ease of Use | Fees |
|---|---|---|---|---|
| Panda Remit | Competitive and transparent | 2 minutes | Very easy (no SWIFT, no bank checks) | Fixed Fee |
| Traditional Banks | Often unclear | Several days | Complex (requires SWIFT code and lengthy verification) | Variable (percentage-based fees) |
Panda Remit’s approach provides clarity and transparency with fixed fees, ensuring that you know exactly how much will be deducted. On the other hand, traditional banks often apply percentage-based fees, which can become more expensive as the transfer amount increases.
Cost Comparison: Fixed Fee vs. Percentage-Based Fees
When sending larger amounts (over $800 SGD), Panda Remit's fixed fee structure is much more economical compared to services like Wise that charge a percentage fee. With Panda Remit, you pay a flat fee regardless of the amount, making it the better choice for high-value transfers.
Why Panda Remit’s Digital-First Approach Matters
Panda Remit offers a fully digital remittance experience—from PayNow payments in Singapore to the recipient’s TNG balance in Malaysia. This end-to-end digital process removes the need for physical visits to bank counters, ensuring a faster and more convenient transaction, especially for those who don’t have a local Malaysian bank account or cannot easily check bank statements, like elderly family members or students.
Frequently Asked Questions
What is the best app to send money from Singapore to Malaysia?
The best app for sending money from Singapore to Malaysia is Panda Remit. As a TNG Official Partner, Panda Remit offers the most competitive SGD to MYR exchange rates, fast 2-minute transfers, and a straightforward digital process.
Is Panda Remit safe for sending money to Malaysia?
Yes, Panda Remit is a safe and reliable option for sending money to Malaysia. It is regulated by the Monetary Authority of Singapore (MAS) and holds a financial license with the license number PS20200501, ensuring trust and transparency.
How fast is the transfer with Panda Remit?
Panda Remit offers one of the fastest remittance services available. Transfers typically arrive within 2 minutes, providing you with a guaranteed amount without any hidden fees or deductions.
