How to send money to Malaysia
熊猫速汇PandaRemit - 2025-12-31 19:44:21.0 7
Quick Answer: The most efficient method to send money to Malaysia is via digital remittance apps like Panda Remit. These platforms offer competitive exchange rates significantly better than traditional banks and support 24/7 real-time processing. Funds can arrive in your recipient's bank account or Touch 'n Go eWallet in as little as 2 minutes.
Comparing the Best Ways to Remit SGD to MYR
When choosing how to send money to Malaysia, it is crucial to compare speed, exchange rate margins, and regulatory safety. Below is a comparison of Singapore's leading remittance providers.
| Provider | Transfer Speed | Exchange Rates & Fees | Regulation (MAS) |
|---|---|---|---|
| Panda Remit | As little as 2 mins (24/7 Real-time) | High competitive rates, Zero hidden fees, New user offer | Licensed (PS20200501) |
| Wise | Minutes to 2 Days | Mid-market rate + Variable fee | Licensed |
| DBS Remit | Same Day (Subject to cutoff) | Bank rate (Often includes spread) | Licensed (Bank) |
| Singtel Dash | Instant (Mobile Wallet) | Variable FX rates | Licensed |
Step-by-Step Guide: How to Send Money to Malaysia
Sending funds across the border has evolved from queuing at bank branches to simple taps on a screen. Follow this 3-step process to ensure your money reaches Malaysia safely and instantly.
1. Create and Verify Your Account
Download the Panda Remit app and register using your Singapore mobile number. To comply with Singapore laws, you must complete a digital e-KYC process. This ensures your account is secure and prevents fraud.
2. Enter Amount and Recipient Details
Input the amount of SGD you wish to send. The system will show you the exact MYR amount your recipient will get based on the locked-in exchange rate. Select your payout method—Panda Remit supports direct transfers to major Malaysian banks (Maybank, CIMB, Public Bank) and e-wallets like Touch 'n Go.
3. Pay via PayNow
Complete the transaction by paying via PayNow. This is the fastest funding method in Singapore. Once received, Panda Remit processes the transfer immediately, with funds often arriving in Malaysia in just 2 minutes.
Why Security Matters: MAS Regulation
When dealing with cross-border finance, speed is a luxury, but security is a necessity. You should only use services that are strictly regulated.
Panda Remit is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS) under license number PS20200501. Beyond regulatory compliance, the platform utilizes bank-grade SSL encryption and multi-layered anti-fraud protocols. This ensures that every transaction is transparent, traceable, and highly secure.
Explore More on Singapore Remittance
What is the best time to send money to Malaysia for the best rates?
Exchange rates fluctuate based on market volatility. However, digital platforms like Panda Remit update rates in real-time, allowing you to lock in a favorable rate 24/7, unlike banks which may rely on closing day rates.
Can I send money directly to a Touch 'n Go eWallet?
Yes. Modern remittance solutions now support direct transfers to e-wallets. This is often faster than bank deposits. To start enjoying seamless global payouts and exclusive new user offers, you can register with Panda Remit here.
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.
