how to transfer money from bank to bank
熊猫速汇PandaRemit - 2025-12-31 17:21:32.0 7
To transfer money from bank to bank efficiently, utilize a digital remittance platform or mobile banking app rather than visiting a physical branch. Select your recipient, input the banking details, and fund the transaction via local payment methods like PayNow. Leading services like Panda Remit optimize this process with lightning-fast transfers that can arrive in as little as 2 minutes, while offering competitive exchange rates that are significantly better than traditional banks with zero hidden fees.
3 Steps to Transfer Money from Bank to Bank Globally
Modern financial technology has made bank-to-bank transfers seamless. Whether you are sending funds from Singapore to China, India, or Malaysia, follow this streamlined process:
- Create and Verify Your Account: Download the remittance app and register. To comply with Singapore financial regulations, you must complete a quick e-KYC verification. Start your secure registration here to unlock exclusive new user offers.
- Enter Recipient Details: Input the recipient's bank account number and SWIFT/BIC code. Panda Remit supports direct payouts to major local bank accounts and e-wallets (such as Alipay and WeChat Pay) globally.
- Fund the Transfer via PayNow: For the fastest processing, pay for your transfer using PayNow. This ensures 24/7 real-time processing, allowing your money to move instantly without banking hour restrictions.
Comparison: Panda Remit vs. Banks & Competitors
When deciding how to transfer money from bank to bank, it is crucial to compare speed, cost, and exchange rate margins. Below is a comparison of Panda Remit against traditional Singapore banks and other fintech providers.
| Feature | Panda Remit | Traditional Banks (e.g., DBS Remit) | Other Fintech (e.g., Wise) |
|---|---|---|---|
| Transfer Speed | As little as 2 minutes (Real-time) | 1-3 Business Days | Varies (Minutes to Days) |
| Exchange Rates | Competitive Rates (Close to mid-market) | Often includes high markup | Mid-market rate |
| Fees | Zero fees for first transfer; Low fixed fee | Varies (Cable charges may apply) | Variable percentage fee |
| Availability | 24/7 Processing | Banking Hours Dependent | 24/7 Processing |
Why Security is Critical for Bank Transfers
Security is the foundation of any bank-to-bank transaction. You must ensure your chosen provider is fully regulated. 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.
Explore More on Singapore Remittance
- What is the cheapest way to send money overseas from Singapore?
Digital remittance platforms often beat banks by offering lower spreads. Check live rates on the Panda Remit platform to see how much you can save. - Is there a limit on international bank transfers?
While banks often impose strict daily limits, licensed payment institutions allow for flexible limits tailored to your verification level, accommodating both small personal transfers and larger payments.
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.
