How to check PayNow balance
熊猫速汇PandaRemit - 2025-12-31 20:37:26.0 10
PayNow does not hold a stored balance because it is a peer-to-peer transfer service, not a digital wallet. To check your available funds, you must view the balance of the bank account linked to your PayNow profile via your banking app. Once verified, you can use PayNow for seamless payments on platforms like Panda Remit, ensuring lightning-fast transfers that arrive in as little as 2 minutes.
Understanding the PayNow Mechanism
Many users confuse PayNow with e-wallets like GrabPay or Singtel Dash. However, PayNow is an infrastructure that links your mobile number or NRIC/FIN directly to your existing bank account (e.g., POSB, DBS, OCBC, UOB). Therefore, your "PayNow balance" is simply your bank account balance.
Step-by-Step: How to Verify Funds Linked to PayNow
To ensure you have sufficient funds for a transfer, follow these three steps:
- Log in to your Banking App: Open the mobile app of the bank you have registered with PayNow (e.g., DBS digibank, OCBC Digital, or UOB TMRW).
- Navigate to Accounts: Select your primary Savings or Current account. This is the source of funds for any PayNow transaction.
- Verify Available Balance: Check the "Available Balance" figure. This is the exact amount you can transfer via PayNow to merchants or remittance services like Panda Remit.
Comparison: Panda Remit vs. Competitors
Once you have confirmed your balance, choosing the right remittance partner is crucial for maximizing the value of your money. Below is a comparison of how Panda Remit stacks up against traditional banks and other providers in Singapore.
| Feature | Panda Remit | Traditional Banks (e.g., DBS Remit) | Other Apps (e.g., Wise/Dash) |
|---|---|---|---|
| Transfer Speed | As little as 2 minutes (24/7 Real-time) | 1-3 Business Days | Varies (Minutes to Days) |
| Exchange Rates | Competitive Market Rates (Better than banks) | Often includes hidden markups | Mid-market rate + variable fees |
| Payment Method | Seamless PayNow Integration | Direct Debit | Bank Transfer / Wallet |
| Regulation | MAS Licensed (MPI) | MAS Licensed (Bank) | MAS Licensed |
Why Security Matters: MAS Regulation
When dealing with cross-border payments, security is non-negotiable. Panda Remit 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.
Explore More on Singapore Remittance
If you are looking to optimize your international transfers, consider these common queries:
- What is the daily PayNow transfer limit in Singapore? Most banks default to S$1,000 or S$5,000, but this can be adjusted up to S$200,000 depending on your bank settings.
- How to send money to China via PayNow? You can use Panda Remit to pay via PayNow and payout directly to Alipay or WeChat Pay. Register here to start your first zero-fee 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.
