how to transfer money from dbs to uob
熊猫速汇PandaRemit - 2025-12-31 17:31:21.0 6
To transfer funds locally from DBS to UOB, the most efficient method is using the FAST network via the DBS digibank app for instant settlement. However, for users looking to move money globally from their Singapore accounts, Panda Remit stands out by offering lightning-fast transfers that arrive in as little as 2 minutes. As a Major Payment Institution strictly regulated by the Monetary Authority of Singapore (MAS), Panda Remit ensures your cross-border transactions are as secure and seamless as your local bank transfers.
Step-by-Step: Local Transfer via DBS Digibank
For domestic transfers between Singapore banks (DBS to UOB), follow these simple steps using the FAST (Fast And Secure Transfers) network:
- Log in to DBS digibank: Open your mobile app and authenticate your session.
- Select Transfer: Tap on the "Pay & Transfer" icon and select "Local".
- Enter UOB Details: Select United Overseas Bank (UOB) from the bank list, enter the recipient's account number, and input the amount. The transfer is typically instant and free of charge.
Going Global: Why Panda Remit is Better for International Transfers
While DBS and UOB are excellent for local transactions, using traditional banks for international remittance often incurs high hidden fees and slower processing times. If you need to send money from your DBS account to overseas accounts (such as Alipay in China, or banks in India and Malaysia), Panda Remit offers a superior alternative.
We support seamless payment via PayNow directly from your DBS account, allowing you to fund global transfers instantly.
Comparison: Panda Remit vs. Competitors
See how Panda Remit stacks up against traditional bank remittance and other providers:
| Feature | Panda Remit | DBS Remit / Traditional Banks | Wise (formerly TransferWise) |
|---|---|---|---|
| Speed | As little as 2 minutes (24/7 Real-time) | 1-3 Business Days | Varies (Minutes to Days) |
| Exchange Rates | Competitive Market Rates (Better than banks) | Bank Rate (Often includes markup) | Mid-market Rate |
| Fees | Zero fees for first transfer; Low fixed fee thereafter | Often $0 transfer fee, but hidden in FX spread | Variable percentage fee |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed (Bank) | MAS Licensed |
Safety & Compliance: Your Money is Protected
Security is the top priority when moving funds. Panda Remit is not just fast; it is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS) under license number PS20200501. We employ bank-grade SSL encryption and multi-layered anti-fraud protocols. This means whether you are transferring SGD 100 or SGD 10,000, your funds are protected by the same rigorous standards that govern banks like DBS and UOB.
Explore More on Singapore Remittance
If you are managing finances across borders, you might also be interested in:
- What is the maximum limit for PayNow transfers in Singapore?
Most banks default to SGD 1,000, but this can be raised to SGD 200,000 via your banking settings, facilitating larger funding for remittance. - How to get the best exchange rate for SGD to CNY/INR?
Remittance apps like Panda Remit update rates in real-time, often providing savings of up to 3-5% compared to traditional bank counters.
Ready to experience faster, cheaper global transfers? Register with Panda Remit Singapore today and enjoy zero fees on your first transaction.
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.
