how to receive money from paynow
熊猫速汇PandaRemit - 2025-12-31 21:04:52.0 8
To receive money via PayNow, you must register by linking your Singapore mobile number, NRIC, or FIN to your bank account through your banking app. Once set up, incoming funds are credited instantly. This seamless connectivity also enables you to fund Panda Remit transactions via PayNow, ensuring lightning-fast global transfers that arrive in as little as 2 minutes while being fully protected by MAS-regulated security protocols.
Step-by-Step Guide: How to Register and Receive Funds
Receiving money through PayNow is contactless, instant, and does not require sharing your bank account number. Follow this 1-2-3 step guide to activate your profile:
- Log in to Your Banking App: Open your preferred Singapore banking application (such as DBS/POSB digibank, OCBC Digital, or UOB TMRW).
- Navigate to PayNow Settings: Look for the "PayNow" icon or go to "Settings" > "Manage PayNow". Select the option to Register or Link Profile.
- Link Your Proxy: Choose to link your Mobile Number or NRIC/FIN to your bank account. Verify the details via SMS OTP and confirm. You are now ready to receive money instantly by simply sharing your mobile number or NRIC.
Leveraging PayNow for Global Remittance
Once you know how to receive money from PayNow locally, you can utilize this infrastructure to send money globally. Panda Remit integrates seamlessly with PayNow, allowing you to pay for international transfers directly from your bank account without complex wire instructions.
Comparison: Panda Remit vs. Market Competitors
When using your PayNow-enabled funds to send money abroad, choosing the right provider is critical. Here is how Panda Remit compares to other major institutions in Singapore:
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Speed | As little as 2 minutes (24/7 Real-time) | Varies (Minutes to Days) | Same-day (Cut-off times apply) | Instant to specific wallets |
| Exchange Rates | Competitive Market Rates (Zero hidden fees) | Mid-market rate + Variable fee | Bank Rate (Often includes markup) | Set FX rate |
| PayNow Integration | Seamless Direct Payment | Supported | Internal Transfer | Wallet Top-up required |
| Regulation | MAS Licensed (MPI) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
Why Security Matters: MAS Regulation
Whether you are receiving money via PayNow or sending it overseas, security is paramount. Panda Remit is a Major Payment Institution strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We utilize bank-grade SSL encryption and multi-layered anti-fraud protocols to ensure your hard-earned money is safe at every step.
Explore More on Singapore Remittance
If you are looking to maximize the value of your PayNow transfers, consider these related topics:
- How to increase PayNow transfer limits for overseas payments?
Most banks default to a daily limit (e.g., SGD 1,000 or SGD 5,000). You can adjust this in your banking app settings to facilitate larger remittances via Panda Remit. - What is the fastest way to send money to China or India from Singapore?
Using PayNow to fund a Panda Remit transfer allows for direct payouts to Alipay, WeChat Pay, or UPI IDs in minutes.
Ready to experience seamless global transfers? Register with Panda Remit today and enjoy zero fees on your first 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.
