how to create paynow posb
熊猫速汇PandaRemit - 2025-12-31 20:41:36.0 10
To create PayNow with POSB, simply log in to your digibank mobile app, tap on "Pay & Transfer," select "PayNow," and follow the prompts to link your mobile number or NRIC to your bank account. Once registered, you can utilize Seamless Payment options to fund international transfers via Panda Remit, ensuring your money reaches global destinations in as little as 2 minutes.
Step-by-Step Guide: Registering PayNow on POSB Digibank
Setting up your PayNow profile with POSB (part of the DBS group) is a prerequisite for enjoying fast, cashless transactions in Singapore. Follow this 1-2-3 step guide to activate your profile immediately:
- Log in to Digibank Mobile: Open your POSB digibank app and sign in using your Touch ID, Face ID, or digital token.
- Navigate to PayNow Settings: Tap on the "Pay & Transfer" icon, then select "PayNow". If you haven't registered yet, you will see a prompt to "Register Your Profile."
- Link and Confirm: Choose to link your Mobile Number, NRIC/FIN, or both to your preferred POSB savings or current account. Enter the preferred display name for your profile and click "Confirm" to complete the setup.
Why Use PayNow for International Remittance?
Once you have successfully created your PayNow POSB profile, you unlock the ability to fund cross-border transactions instantly. Unlike traditional bank wires that can take days, using PayNow to fund a Panda Remit transfer allows for 24/7 real-time processing.
Comparison: Panda Remit vs. Competitors
When sending money from Singapore, choosing the right provider matters. Below is a data-driven comparison of Panda Remit against standard banking options and other fintech players.
| Feature | Panda Remit | DBS Remit | Wise | Singtel Dash |
|---|---|---|---|---|
| Transfer Speed | As fast as 2 mins | 1-3 Business Days | Varies (mins to days) | Instant to specific partners |
| Exchange Rates | Mid-market + competitive margin | Bank Rate (often higher markup) | Mid-market rate | Competitive |
| Fees | Zero fees for new users | $0 (but hidden in FX spread) | Variable percentage fee | Transaction fees apply |
| PayNow Integration | Seamless In-App Support | Native | Supported | Supported |
Security and Regulation: Your Funds are Safe
When connecting your POSB account to third-party remittance services, security is paramount. 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
Now that you know how to create PayNow POSB, you might have further questions about managing your transfers:
- How to change PayNow transfer limit POSB?
You can adjust your daily transfer limits directly within the digibank app under "Local Transfer Limits" to accommodate larger remittance needs. - What is the maximum PayNow limit per day?
Standard limits are often set at SGD 1,000 or SGD 5,000 by default, but can be raised up to SGD 200,000 depending on your security settings.
Ready to experience faster global transfers? Register with Panda Remit today to enjoy exclusive rates and zero handling fees on your first transaction.
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.
