how to create a paynow account
熊猫速汇PandaRemit - 2025-12-31 20:39:39.0 11
To create a PayNow account, simply log in to your participating bank's mobile app (such as DBS/POSB, OCBC, or UOB), navigate to the settings menu, and link your mobile number or NRIC to your bank account. Once activated, you can enjoy seamless payments for international remittances via Panda Remit, benefiting from MAS-regulated security and bank-grade encryption for every transaction.
Step-by-Step Guide: Activating PayNow in Singapore
PayNow is not a standalone app but a feature integrated into Singapore's major banking apps. Follow these 3 steps to activate it:
- Log in to Your Bank App: Open your DBS digibank, OCBC Digital, or UOB TMRW app.
- Locate PayNow Settings: Go to 'Transfer/Pay' or 'Settings' and select 'Manage PayNow' or 'PayNow Registration'.
- Link Your Proxy: Select the bank account you wish to receive funds into and link it to your Mobile Number or NRIC. You will receive an SMS notification confirming the successful registration.
Once set up, you can use PayNow to fund cross-border transfers instantly. For example, when using Panda Remit, selecting PayNow as your payment method ensures your money moves immediately, allowing for payouts to arrive in as little as 2 minutes.
Comparison: Panda Remit vs. Competitors
When using your new PayNow account for international transfers, choosing the right remittance partner is critical. Below is a comparison of Panda Remit against other market players.
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Transfer Speed | As fast as 2 mins (24/7 Real-time) | Varies (Minutes to Days) | 1-3 Working Days | Instant to specific partners only |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
| Exchange Rates | Competitive Market Rates (Zero hidden fees) | Mid-market rate + Variable fee | Bank Board Rates (Often lower) | Includes FX markup |
| PayNow Integration | Seamless In-App Payment | Supported | N/A (Direct Debit) | Supported |
Why Security Matters: MAS Regulation
Creating a PayNow account is the first step; ensuring your funds are safe during transfer is the second. 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 that when you pay via PayNow, your transaction is transparent and highly secure.
Explore More on Singapore Remittance
If you are looking to maximize the value of your PayNow account, consider these related topics:
- What is the PayNow transfer limit in Singapore? – Most banks allow you to adjust your daily limit up to SGD 200,000, which is ideal for larger remittances.
- How to send money to China/India via PayNow? – Use Panda Remit to turn your SGD into CNY or INR instantly. Start your secure remittance journey 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.
