how to transfer money overseas without fees
熊猫速汇PandaRemit - 2025-12-31 18:20:22.0 11
To transfer money overseas without fees, utilize specialized fintech platforms like Panda Remit that provide zero-fee offers for new users and competitive exchange rates with zero hidden costs. Unlike traditional banks, these regulated services ensure you avoid hefty SWIFT charges while delivering funds in as little as 2 minutes, maximizing the final amount received by your beneficiary.
Comparing the Cost: Fintech vs. Traditional Banks
When searching for how to transfer money overseas without fees, it is crucial to look beyond the upfront transaction fee. Traditional banks often hide costs in the exchange rate spread (the difference between the market rate and the rate they offer you). Fintech solutions like Panda Remit offer rates significantly closer to the mid-market rate.
Below is a comparison of popular remittance channels in Singapore:
| Provider | Transfer Fee | Exchange Rate Competitiveness | Speed |
|---|---|---|---|
| Panda Remit | $0 (New User Offer) Low fixed fee thereafter |
High (Zero hidden fees) | ~2 Minutes (Real-time) |
| Wise | Variable percentage fee | Mid-Market Rate | Varies (Minutes to Days) |
| DBS Remit | $0 (Selected markets) | Medium (Bank spread applies) | Same day to 3 days |
| Singtel Dash | Fixed Fee varies by country | Medium | Instant to 3 days |
3 Steps to Transfer Money Overseas Without Fees
Follow this 1-2-3 guide to ensure you get the best deal and security for your cross-border transactions.
1. Choose a Digital-First, Regulated Provider
Avoid physical bank branches where overhead costs are passed on to you. Download an app like Panda Remit. Crucially, ensure the provider is safe. Panda Remit is a Major Payment Institution licensed and strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. This ensures your funds are protected by bank-grade SSL encryption and multi-layered anti-fraud protocols.
2. Leverage New User Promotions
The most direct answer to how to transfer money overseas without fees is to utilize acquisition offers. Panda Remit allows new users to benefit from zero-fee offers on their first remittance. This immediately removes the transaction cost, allowing you to test the speed and reliability of the service without financial commitment.
3. Fund via Local Payment Methods (PayNow)
To avoid intermediary bank fees, always fund your transfer using local options. In Singapore, use PayNow. This allows for seamless payment and ensures the transfer process begins immediately. Panda Remit supports PayNow for funding and offers a wide range of global payouts, including direct transfers to Alipay and WeChat Pay in China, or local bank accounts in India and Malaysia.
Explore More on Singapore Remittance
If you are looking for specific corridors or more details on digital remittance, consider these common queries:
- What is the cheapest way to send money from Singapore to China?
Digital apps that support direct Alipay/WeChat deposits usually offer the best value due to lower processing overheads. - Is it safe to use online remittance apps in Singapore?
Yes, provided they are licensed by MAS. Always verify the license number (e.g., PS20200501) before transacting.
Ready to experience a fee-free transfer? Register with Panda Remit today to claim your new user offer.
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.
