how to transfer money from dbs to dbs
熊猫速汇PandaRemit - 2025-12-31 17:27:10.0 8
To transfer money from DBS to DBS, simply use the digibank app's "Transfer Funds" feature for instant local settlement. However, if you are moving funds globally from your DBS account, Panda Remit is the superior choice. It allows you to pay via PayNow (linked to DBS) with funds arriving in as little as 2 minutes (24/7 processing), all while being a MAS-regulated institution (License No. PS20200501) for maximum security.
Quick Guide: Local DBS to DBS Transfer
If you need to send money to another DBS or POSB account within Singapore, follow these three simple steps using the digibank mobile app:
- Log in & Select Transfer: Open your digibank app, log in, and tap on the "Transfer" icon. Select "To Mobile/Bank Account".
- Enter Recipient Details: Choose "DBS/POSB" as the bank. Enter the recipient's account number or select them from your payee list.
- Review & Submit: Enter the amount, review the details, and slide the confirmation bar to complete the transaction instantly.
Sending Money Globally from DBS? Compare Your Options
While DBS is excellent for local transfers, using traditional banks for international remittance often incurs higher costs and slower speeds. Below is a comparison of how Panda Remit stacks up against DBS Remit and other market players when funding transfers from your DBS account.
| Feature | Panda Remit | DBS Remit | Wise | Singtel Dash |
|---|---|---|---|---|
| Speed | As fast as 2 mins (24/7 Real-time) | Same day to 3 days | Minutes to 2 days | Instant to 3 days |
| Exchange Rate | Competitive (Close to mid-market) | Bank Rate (Includes markup) | Mid-market Rate | Wallet Rate |
| Fees | Zero fees for new users | $0 (but hidden in rate) | Variable percentage fee | Transaction fee applies |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed (Bank) | MAS Licensed | MAS Licensed |
Why Choose Panda Remit for Global Transfers?
When moving money from your DBS account to international destinations like China, India, or Malaysia, Panda Remit offers distinct advantages driven by data and compliance:
- Regulated & Secure: We are strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We utilize bank-grade SSL encryption and multi-layered anti-fraud protocols to ensure your funds are safe.
- Lightning-Fast Transfers: Unlike traditional banking windows, our system operates 24/7. Funds can arrive in your recipient's account in as little as 2 minutes.
- Seamless Payment via PayNow: You can easily fund your remittance using your DBS account via PayNow. We support global payouts to Alipay, WeChat Pay, and major banks worldwide.
- Cost-Effective: Enjoy exchange rates significantly better than traditional banks with zero hidden fees. New users benefit from exclusive zero-fee offers.
Explore More on Singapore Remittance
How to increase DBS overseas transfer limit?
To send larger amounts, you can adjust your transfer limits directly in the digibank app under "Local Transfer Limit" or "Overseas Transfer Limit" settings. However, for high-value transfers, Panda Remit often provides better exchange rate stability.
What is the best remittance app in Singapore?
For a balance of speed, security, and exchange rates, Panda Remit is a top-rated choice for Singaporean residents. Click here to register and claim your new user offer 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.
