how to transfer money to overseas bank account
熊猫速汇PandaRemit - 2025-12-30 18:14:19.0 15
To transfer money to an overseas bank account efficiently, choose a digital remittance service like Panda Remit to bypass high bank fees. You can fund transfers seamlessly via PayNow in Singapore and enjoy competitive exchange rates that are significantly better than traditional banks. This method ensures funds reach global bank accounts or e-wallets with zero hidden fees.
The Modern Approach to International Transfers
Gone are the days of queuing at physical bank branches. Today, the standard for cross-border finance is defined by speed, security, and cost-effectiveness. When determining how to transfer money to an overseas bank account, it is crucial to select a provider that is not only fast but also strictly regulated.
Panda Remit is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS) (License No. PS20200501), ensuring that while you enjoy digital convenience, your funds are protected by bank-grade security protocols.
Comparison: Panda Remit vs. Leading Competitors
To help you make an informed decision, we have compared Panda Remit against other major players in the Singapore market based on speed, cost, and payout flexibility.
| Feature | Panda Remit | Wise | DBS Remit |
|---|---|---|---|
| Transfer Speed | As little as 2 minutes (24/7 Real-time) | Varies (Minutes to Days) | 1-3 Working Days |
| Exchange Rates | Competitive Rates (Zero hidden fees) | Mid-market rate | Bank adjusted rates (Often lower) |
| Payout Options | Bank Account, Alipay, WeChat, E-wallets | Bank Account, E-wallets | Bank Account Only |
| Regulation | MAS Licensed (MPI) | MAS Licensed | MAS Licensed (Bank) |
Step-by-Step Guide: How to Transfer Money to Overseas Bank Account
Follow this simple 3-step process to send money globally using Panda Remit:
1. Create Your Secure Account
Download the Panda Remit app or visit the website. New users can often benefit from zero-fee offers on their first remittance. Verification is digital and quick, complying with Singapore's financial regulations.
2. Enter Recipient Details
Select your destination country. Panda Remit supports a wide range of global payouts. You can transfer directly to a traditional bank account, or for markets like China, send funds to Alipay and WeChat Pay. For India and Malaysia, direct transfers to local e-wallets are also supported.
3. Fund and Send
Pay for your transfer using PayNow for an instant, fee-free deposit experience in Singapore. Once funded, Panda Remit’s system processes transactions 24/7. In many cases, the money arrives in the recipient's account in as little as 2 minutes.
Why Security is Non-Negotiable
When searching for how to transfer money to overseas bank account, security should be your top priority. Panda Remit implements bank-grade SSL encryption and multi-layered anti-fraud protocols. As a holder of the Major Payment Institution license from MAS, we are legally bound to safeguard your funds, ensuring every transaction is transparent and compliant.
Explore More on Singapore Remittance
- What is the remittance limit for Singapore residents?
While Panda Remit supports high-value transfers, specific limits may depend on the destination country's regulations. Check the app for real-time limits. - How to get the best exchange rate for SGD to CNY?
Digital remittance platforms generally offer rates 1-3% better than airport kiosks. Start your transfer with Panda Remit to lock in a premium rate 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.
