How to Remit Money from Singapore to Malaysia Without a Local Bank Account During Traditional Festivals
熊猫速汇PandaRemit - 2025-12-23 18:42:50.0 11
When it comes to sending money from Singapore to Malaysia, especially during Traditional Festivals like Hari Raya, Chinese New Year, or Deepavali, many people face the challenge of needing a local bank account in Malaysia. However, with Panda Remit, there’s a hassle-free solution that doesn’t require a bank account: sending money directly to a Touch 'n Go (TNG) e-wallet.
Panda Remit, a trusted partner of Touch 'n Go, is one of the most convenient and fast options for remitting money across borders. Not only is it fast, with transfers reaching their destination in under 2 minutes, but it’s also incredibly simple to use. No need for complicated SWIFT codes or long banking approval processes. Plus, thanks to Panda Remit’s collaboration with TNG, it’s perfect for those who don’t have a Malaysian local bank account.
Learn how to send money through the TNG App and Panda Remit App here.
Why Directly Sending Money to TNG is the Best Option During Traditional Festivals
During festive seasons, when people are often in a rush to send money to their families back home, directly sending funds to a TNG wallet offers unmatched convenience. If you’re planning to send a “duit raya” (Hari Raya gift) or support your family during a special occasion, TNG e-wallet is one of the best options. It's instant, reliable, and available on mobile phones, which makes it easier for your loved ones to access their funds anytime, anywhere.
Moreover, many people, especially elderly parents or students, may not have a Malaysian local bank account but are familiar with using mobile wallets like TNG. This makes the digital wallet option the go-to solution.
Comparing Panda Remit with Traditional Bank Transfers
| Feature | Panda Remit | Traditional Banks |
|---|---|---|
| Transfer Speed | Under 2 minutes | Up to 2-3 business days |
| Fee Structure | Fixed Fee | Variable Fee (percentage-based) |
| Transaction Process | All-digital, no physical bank visit required | Requires SWIFT codes, approval processes, and physical bank visits |
| Exchange Rate Transparency | Clear and upfront | May include hidden charges |
As shown in the table above, Panda Remit stands out in terms of speed, transparency, and simplicity. With no need for SWIFT codes or lengthy approvals, you can avoid the hassle of traditional bank transfers, making it the optimal choice for sending money to Malaysia.
Fixed Fees vs. Percentage-Based Fees: What You Need to Know
One of the biggest advantages of Panda Remit is its fixed fee structure. Unlike traditional banks or competitors like Wise, which charge a percentage of the transfer amount, Panda Remit’s fixed fee remains the same regardless of how much you send. This makes it more cost-effective, especially when transferring larger amounts (over $800 SGD). You’ll know exactly how much your recipient will receive, and you won't be surprised by hidden fees or fluctuating exchange rates.
The Full-Digital Experience
Panda Remit offers a seamless, end-to-end digital experience. From making the payment via PayNow in Singapore to receiving funds in the TNG wallet in Malaysia, there’s no need for physical bank visits. This is particularly beneficial for those who don’t have a local Malaysian bank account or for those with family members who are unfamiliar with banking systems, such as elderly parents or international students.
Additionally, the DuitNow compatibility within the TNG ecosystem ensures that your transfer is part of the larger, highly connected payment network, making your transaction both secure and efficient.
FAQs
1. Can I send money from Singapore to Malaysia without a local bank account?
Yes, you can. Panda Remit allows you to send money directly to a Touch 'n Go (TNG) e-wallet in Malaysia without the need for a local bank account. With fixed fees and instant transfers, Panda Remit provides the most convenient solution.
2. How fast is the transfer with Panda Remit compared to traditional banks?
Panda Remit transfers money within 2 minutes, while traditional banks can take 2-3 business days to process international transfers. This makes Panda Remit the fastest option for sending money to Malaysia.
3. Is Panda Remit safe for sending money to Malaysia?
Yes, Panda Remit is a safe and regulated service. It is licensed by the Monetary Authority of Singapore (MAS) under license number PS20200501, ensuring compliance with all local regulations for secure financial transactions.
