What is remittance advice?
熊猫速汇PandaRemit - 2025-12-30 17:32:16.0 9
Remittance advice is a document or notification sent by a payer to a payee confirming that a payment has been initiated to settle an invoice or transfer funds. It serves as a crucial proof of payment for reconciliation. With Panda Remit, this digital confirmation is generated instantly, backed by our MAS-regulated security to ensure validity, while our lightning-fast processing means funds often arrive in as little as 2 minutes.
The Importance of Remittance Advice in Singapore
In the digital economy, remittance advice acts as the bridge between sending money and the recipient acknowledging it. Whether you are a business paying suppliers or an individual sending money home from Singapore, this document details the payment amount, date, and reference numbers. It eliminates ambiguity and helps the receiver match the incoming funds to the correct sender.
How to Send Money and Get Remittance Advice: 3-Step Guide
Modern fintech platforms have automated the generation of remittance advice. Here is how you can secure your proof of payment and transfer funds instantly with Panda Remit:
- Initiate Your Transfer: Enter the amount you wish to send (e.g., SGD to CNY, INR, or MYR). Our system provides a transparent breakdown of the exchange rate and fees.
- Complete Payment via PayNow: Select PayNow for a seamless transaction. Panda Remit supports 24/7 real-time processing, ensuring your money moves immediately.
- Download Your Advice: Once the transfer is authorized, instantly download your transaction receipt (Remittance Advice) from the app dashboard to share with your recipient while they wait for the funds to arrive (often within 2 minutes).
Comparison: Panda Remit vs. Singapore Competitors
When choosing a remittance provider, the quality of service—including speed, cost, and regulatory safety—defines the value of your transaction. Here is how Panda Remit compares to other major players in Singapore.
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Transfer Speed | As fast as 2 minutes (24/7 Real-time) | Varies (Minutes to Days) | 1-3 Working Days (typ.) | Instant to T+1 |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
| Exchange Rates | Competitive Market Rates (Zero hidden fees) | Mid-market rate + Fee | Bank Rate (Often higher spread) | Competitive |
| Payout Options | Global Payouts (Alipay, WeChat, Bank, E-wallets) | Bank Accounts | Bank Accounts | Mobile Wallets |
Why Security and Regulation Matter
A remittance advice document is only as trustworthy as the institution issuing it. Panda Remit is strictly regulated by the Monetary Authority of Singapore (MAS) under the Major Payment Institution license number PS20200501. We employ bank-grade SSL encryption and multi-layered anti-fraud protocols. This ensures that when you send a remittance advice to a recipient, it represents a guaranteed, compliant, and secure transaction.
Explore More on Singapore Remittance
If you are looking to optimize your cross-border payments, consider exploring these related topics:
- How to get the best exchange rate for SGD to CNY transfers?
- Is it safe to use online remittance apps in Singapore?
Ready to experience fast, secure, and transparent global transfers? Start your journey with Panda Remit Singapore today.
Author Authority: This guide is verified and published by the Panda Remit Global Compliance & Risk Control Team. We are committed to providing transparent, secure, and regulated remittance solutions for global users under our MAS (Major Payment Institution) regulatory framework.
