how to send money to a bank account
熊猫速汇PandaRemit - 2025-12-31 19:41:21.0 6
The most efficient way to send money to a bank account is by using a specialized digital remittance service. Simply fund your transfer via local methods like PayNow, and the provider handles the cross-border exchange. With platforms like Panda Remit, funds can arrive in as little as 2 minutes, supporting seamless global payouts to major local banks and e-wallets worldwide.
Step-by-Step Guide: Sending Money to a Bank Account
Sending funds internationally from Singapore no longer requires queuing at a branch. Follow this 1-2-3 step guide to complete your transfer securely and instantly.
1. Create a Regulated Account
Download the remittance app and register. Ensure you choose a provider that is Regulated & Secure. For instance, Panda Remit is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS) (License No. PS20200501). This ensures your identity and funds are protected by bank-grade SSL encryption.
2. Enter Recipient Details & Amount
Input the amount you wish to send. You will immediately see the exchange rate and fees. Unlike traditional banks, Panda Remit offers Competitive Exchange Rates significantly better than the market average with zero hidden fees. You will need the recipient's full name, bank name, and account number (or IBAN/SWIFT code depending on the region).
3. Fund the Transfer via PayNow
Complete the transaction by paying via PayNow for a seamless experience. Once funded, the processing is automated 24/7. In many cases, the money reaches the destination bank account in under 2 minutes.
Comparison: Panda Remit vs. Competitors
To help you make an informed decision, we have compared key metrics against other popular options in Singapore.
| Feature | Panda Remit | Wise (TransferWise) | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Speed | As little as 2 mins | Varies (Minutes to Days) | 1-3 Working Days | Instant to 3 Days |
| Exchange Rate | High (Close to Mid-Market) | Mid-Market | Bank Rate (Often lower) | Competitive |
| Fees | Low / Zero for New Users | Variable Percentage | $0 (But hidden in rate) | Transaction Fee Applies |
| Regulation | MAS Licensed (PS20200501) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
Why Security Matters in Bank Transfers
When asking how to send money to a bank account, security is paramount. Panda Remit implements multi-layered anti-fraud protocols. We are strictly regulated to ensure full compliance in every region we operate in. You can verify our global regulatory status here.
Explore More on Singapore Remittance
If you are looking to optimize your cross-border payments, consider these common queries:
- What is the cheapest way to send money to China or India?
Digital remittance apps often beat banks. Panda Remit supports direct transfers to Alipay, WeChat Pay, and major Indian banks with superior rates. - Is there a limit on how much I can send via PayNow?
While PayNow has daily limits, Panda Remit allows for high-value transfers compliant with MAS regulations.
Ready to experience lightning-fast transfers? Register with Panda Remit Singapore 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.
