how to transfer money from paypal to posb
熊猫速汇PandaRemit - 2025-12-31 17:49:48.0 10
To transfer funds, log in to PayPal, link your POSB account using bank code 7171, and select "Transfer to your bank." While PayPal withdrawals typically take 3-5 business days, moving funds globally via Panda Remit offers lightning-fast transfers (often in 2 minutes) and competitive exchange rates that avoid the high hidden fees common with traditional bank transfers.
Step-by-Step Guide: Withdrawing Funds to POSB
Transferring your balance from a digital wallet to your local Singapore bank account is a straightforward process. Follow these three steps to secure your funds in your POSB account:
1. Link Your POSB Account
Navigate to your PayPal Wallet and click "Link a bank account." Since POSB is part of DBS, you must use the specific bank code 7171. Ensure your name on PayPal matches your bank account name exactly to prevent rejection.
2. Initiate the Transfer
Once linked, go to your PayPal balance and click "Transfer Funds." Select "Transfer to your bank" and choose your linked POSB account. Enter the specific amount you wish to withdraw.
3. Confirm and Wait
Review the transaction details. Note that PayPal may charge a withdrawal fee if the amount is below a certain threshold (typically SGD 200). Confirm the transfer. Funds usually arrive within 3 to 5 business days, depending on bank processing times.
Optimizing Your Money: Panda Remit vs. Competitors
Once your money is in your POSB account, using traditional banks to send it internationally can be costly and slow. Panda Remit provides a superior alternative for global payouts, regulated by the Monetary Authority of Singapore (MAS).
| Feature | Panda Remit | DBS Remit / POSB | Wise |
|---|---|---|---|
| Speed | As fast as 2 minutes (24/7 Real-time) | 1-3 Business Days | Varies (Minutes to Days) |
| Exchange Rates | Competitive Rates (Low spread) | Bank Rate (Higher markup) | Mid-market Rate |
| Fees | Zero fees for first transfer | Usually $0 (but hidden in FX rate) | Variable percentage fee |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed (Bank) | MAS Licensed |
Why Security Matters in Singapore Remittance
When handling financial transactions, security is non-negotiable. Panda Remit is strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We operate as a Major Payment Institution, implementing bank-grade SSL encryption and multi-layered anti-fraud protocols. This ensures that whether you are transferring SGD to INR, MYR, or CNY, your transaction is transparent, compliant, and secure.
Explore More on Singapore Remittance
How long does a PayPal withdrawal to POSB take on weekends?
PayPal withdrawals are generally processed on business days. Transfers initiated on weekends or public holidays in Singapore will typically be processed the next working day, extending the wait time beyond the standard 3-5 day window.
Can I use PayNow to fund international transfers?
Yes. Once your funds are in your POSB account, you can use PayNow to fund a Panda Remit transaction instantly. This allows for seamless payment and global payouts to wallets like Alipay or WeChat Pay.
Ready to experience faster, cheaper global transfers? Register with Panda Remit Singapore today and enjoy zero fees on your first remittance.
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.
