how to transfer money from bank to paypal
熊猫速汇PandaRemit - 2025-12-31 17:22:06.0 6
To transfer money, log in to your PayPal account, navigate to 'Wallet', select 'Transfer Money', and choose 'Add money to your balance' via your linked bank account. However, for international transactions, Panda Remit offers a superior alternative with funds arriving in as little as 2 minutes, backed by strict security as a MAS-regulated Major Payment Institution.
Step-by-Step Guide: Linking Your Singapore Bank to PayPal
If you need to top up your PayPal wallet using a local Singapore bank account (such as DBS, POSB, OCBC, or UOB), follow this verified 3-step process:
- Link Your Bank Account: Log in to your PayPal dashboard, go to 'Wallet', and click 'Link a bank account'. Enter your bank code (e.g., 7171 for DBS) and account number.
- Verify the Connection: PayPal will send two small deposits (less than SGD 1.00) to your bank account within 2-3 business days. Enter these amounts in your PayPal wallet to verify ownership.
- Initiate the Transfer: Once verified, click 'Transfer Money' > 'Add money to your balance'. Select your linked bank account and enter the amount. Note that standard bank transfers to PayPal can take 3 to 5 business days to clear.
Comparison: Panda Remit vs. Market Competitors
While PayPal is popular for e-commerce, using it for international transfers often incurs high hidden fees and slow processing times. Below is a comparison of Panda Remit against major Singapore competitors for cross-border payments.
| Feature | Panda Remit | Wise (TransferWise) | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Transfer Speed | As little as 2 minutes (24/7 Real-time) | Varies (Minutes to 2 Days) | Same-day (Cut-off times apply) | Instant to specific partners |
| Regulation | 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 includes markup) | Competitive |
| Payment Method | PayNow, Bank Transfer, ATM | PayNow, Bank Transfer | Direct Debit | e-Wallet Balance |
| Global Payouts | Alipay, WeChat, Bank Accounts, E-wallets | Bank Accounts | Bank Accounts | Selected E-wallets |
Why Security and Speed Matter in Remittance
When moving funds, security is non-negotiable. Panda Remit is strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. Unlike standard bank transfers that can lag over weekends, Panda Remit utilizes bank-grade SSL encryption and multi-layered anti-fraud protocols to ensure your money is safe while delivering speeds as fast as 120 seconds.
Furthermore, Panda Remit supports seamless payments via PayNow in Singapore, allowing you to send money directly to digital wallets like Alipay and WeChat Pay in China, or major banks in India and Malaysia, without the high FX markups typically associated with PayPal currency conversions.
Explore More on Singapore Remittance
- How to send money to China via Alipay/WeChat Pay from Singapore?
- What is the maximum remittance limit per day for MAS-regulated apps?
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.
