How to increase PayNow transfer limit
熊猫速汇PandaRemit - 2025-12-31 20:52:16.0 12
To increase your PayNow transfer limit, log in to your bank's mobile app or internet banking portal, navigate to "Transfer Settings" or "Transaction Limits," and adjust the daily limit (typically up to S$200,000). Once adjusted, you can utilize Panda Remit's seamless PayNow integration for high-value global payouts. As a MAS-regulated institution, we ensure these larger transactions are processed with bank-grade security.
Step-by-Step Guide: Adjusting Your PayNow Limits
Most major Singaporean banks default the PayNow limit to S$1,000 or S$5,000. To facilitate larger payments or remittances, follow this 3-step guide applicable to major banks like DBS/POSB, OCBC, and UOB:
- Log in to Internet Banking: Access your bank's secure portal or mobile app using your credentials and 2FA token.
- Navigate to Transfer Settings: Look for a menu option labeled "Transfer Settings," "Change Local Transfer Limit," or "PayNow Settings."
- Update and Authenticate: Select your desired daily limit (e.g., S$50,000 or S$200,000), click "Save," and verify the change using your digital token or SMS OTP.
Why Increase Your Limit? Better Global Remittance
Increasing your PayNow limit is essential for users looking to send significant funds overseas efficiently. By raising your limit, you can take full advantage of Panda Remit's capabilities, ensuring your money moves instantly without being bottlenecked by daily banking caps.
Comparison: Panda Remit vs. Singapore Competitors
When using your increased PayNow limit for cross-border transfers, choosing the right provider is critical. Here is how Panda Remit compares to other market players:
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| PayNow Integration | Seamless (Direct Funding) | Supported | N/A (Direct Debit) | Supported |
| Transfer Speed | As little as 2 minutes | Varies (Hours to Days) | Same Day (Cut-off times apply) | Instant to specific wallets |
| Exchange Rates | Competitive (Zero hidden fees) | Mid-market rate + Fee | Bank Rate (Higher spread) | Wallet FX Rates |
| Regulatory Status | MAS Licensed (MPI) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
Security and Compliance: Your Funds are Safe
When increasing transfer limits, 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—whether S$100 or S$10,000—is transparent and highly secure. You can verify our global regulatory compliance here.
Explore More on Singapore Remittance
1. What is the maximum PayNow limit per day for remittance?
While PayNow allows transfers up to S$200,000 depending on your bank, Panda Remit allows you to maximize this for international transfers. With our Lightning-Fast Transfers, funds can arrive in as little as 2 minutes, making high-value transfers both scalable and efficient.
2. Can I use PayNow to send money to Alipay or WeChat?
Yes. Once you have increased your PayNow limit, you can use Panda Remit to fund transfers directly to digital wallets like Alipay and WeChat Pay in China. This offers a seamless connection between your Singapore bank account and global recipients.
Ready to experience faster, safer global transfers? Register with Panda Remit Singapore today to enjoy exclusive new user offers.
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.
