Can I transfer money without ATM card?
熊猫速汇PandaRemit - 2025-12-31 17:00:58.0 6
Yes, absolutely. You can transfer money without an ATM card by utilizing digital banking apps or online remittance platforms. In Singapore, services like Panda Remit allow you to fund transactions directly via PayNow, completely bypassing the need for a physical card. This method ensures seamless payments and lightning-fast transfers, with funds often arriving in as little as 2 minutes.
The Shift to Cardless Digital Remittance
Gone are the days when you needed to visit a physical branch or use an ATM card to move funds. With the rise of FinTech in Singapore, transferring money has become a purely digital experience. By linking your bank account to a remittance app or using local payment infrastructures like PayNow, you can send money globally 24/7.
Comparison: Panda Remit vs. Competitors
When choosing a cardless transfer method, speed and cost are critical. Below is a comparison of how Panda Remit stacks up against other major players in the Singapore market.
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Card Required? | No (PayNow supported) | No (Bank Transfer) | No (Account Link) | No (Wallet Top-up) |
| Transfer Speed | As fast as 2 mins | Varies (Hours to Days) | Same Day (Cut-off times apply) | Instant to specific partners |
| Regulatory Status | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
| Exchange Rates | Competitive (Zero hidden fees) | Mid-market rate + Fee | Bank Rate (Often higher spread) | Wallet Rate |
How to Transfer Money Without an ATM Card (3 Steps)
Using Panda Remit, you can complete a global transfer using just your smartphone. Here is the step-by-step process:
- Create Your Account: Download the Panda Remit app or visit the website. Register using your mobile number and complete the e-KYC verification process to ensure compliance with Singapore regulations.
- Set Up Your Transfer: Enter the amount you wish to send. You will see the exact exchange rate and the total amount the recipient will get. Select your recipient's payout method (e.g., Alipay, WeChat Pay, or direct bank deposit).
- Pay via PayNow: Instead of entering ATM card details, choose PayNow as your payment method. Use your banking app to scan the QR code or enter the UEN provided. Once the payment is received, Panda Remit processes the transfer immediately.
Security and Regulation: Is it Safe?
Transferring money without a card does not mean compromising on security. Panda Remit is a Major Payment Institution licensed and strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We implement bank-grade SSL encryption and multi-layered anti-fraud protocols to ensure every transaction is transparent and highly secure. You can verify our global regulatory status here.
Explore More on Singapore Remittance
If you are looking to optimize your cross-border finances, consider these related topics:
- How to use PayNow for international transfers: Learn how Singapore's real-time payment rail connects with global remittance apps.
- Best exchange rates for SGD to CNY/INR: Discover how specialized remittance apps offer rates significantly better than traditional banks.
Ready to experience a card-free, seamless transfer? Start your secure remittance journey with Panda Remit 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.
