how to use ibanking to transfer money
熊猫速汇PandaRemit - 2025-12-31 19:07:52.0 7
To use ibanking to transfer money, simply log in to your bank's portal, select 'Funds Transfer,' and choose your recipient. For international transfers, linking your ibanking via PayNow to Panda Remit is the optimal choice. This method ensures seamless payments and lightning-fast transfers that can arrive in as little as 2 minutes, bypassing the typical 1-3 day wait times of traditional banks.
Step-by-Step Guide: Using iBanking for Global Transfers
While traditional banks like DBS, OCBC, or UOB offer standard remittance services, savvy users in Singapore utilize their ibanking (PayNow) to fund specialized remittance apps for better rates and speed. Here is the 1-2-3 procedure:
- Initiate the Transfer via PayNow: Log in to your preferred Singapore banking app (e.g., DBS digibank, UOB TMRW). Select the "PayNow" function. This is the key to seamless payments.
- Connect to Panda Remit: Open your Panda Remit app and set up your transfer order. Select "PayNow" as your payment method. You will receive a Unique Entity Number (UEN) or a QR code.
- Complete the Transaction: Return to your ibanking app, enter the UEN or scan the QR code, and confirm the amount. Thanks to Panda Remit's 24/7 real-time processing, your funds can reach global destinations (like Alipay in China or banks in India) in as little as 2 minutes.
Comparison: Panda Remit vs. Traditional Banks & Competitors
When figuring out how to use ibanking to transfer money internationally, cost and speed are critical. See how Panda Remit stacks up against local competitors.
| Feature | Panda Remit | Traditional Banks (DBS/OCBC) | Wise |
|---|---|---|---|
| Transfer Speed | As little as 2 minutes | 1-3 Business Days | Varies (Minutes to Days) |
| Exchange Rates | Competitive (Mid-market) | Bank Rate (High Markup) | Mid-market |
| Fees | Zero hidden fees (New user offer) | Cable charges + FX spread | Variable percentage fee |
| Payment Method | Seamless PayNow Integration | Direct Account Debit | Bank Transfer/PayNow |
| Availability | 24/7 Real-time | Banking Hours Dependent | 24/7 |
Security & Regulation: Your Money is Safe
Security is the top priority when using digital banking. Panda Remit is not just fast; it is a Major Payment Institution licensed and strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We implement bank-grade SSL encryption and multi-layered anti-fraud protocols to ensure every transaction is transparent and highly secure. You can verify our global regulatory status here.
Explore More on Singapore Remittance
If you are looking to optimize your cross-border finances further, consider these common queries:
- What is the daily PayNow transfer limit for overseas remittance?
Most banks default to a daily limit (e.g., SGD 5,000), but this can be adjusted in your ibanking settings to accommodate larger transfers via Panda Remit. - How to transfer money to Alipay from Singapore?
Panda Remit supports direct payouts to Alipay and WeChat Pay. Simply register and link your Singapore bank account to start sending.
Ready to experience faster, safer global transfers? Register with Panda Remit today to enjoy exclusive new user benefits.
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.
