How to set limit for PayNow
熊猫速汇PandaRemit - 2025-12-31 21:14:31.0 8
To set your PayNow limit, access your bank's mobile app (e.g., DBS, OCBC), navigate to 'Transfer Settings,' and adjust the daily limit. Once configured, enjoy seamless PayNow payments for international transfers with Panda Remit, a MAS-regulated platform (License PS20200501) guaranteeing secure, bank-grade encryption for every transaction.
Step-by-Step Guide: Adjusting Your PayNow Transaction Limits
PayNow limits are managed directly through your participating bank's mobile application or internet banking portal. While interfaces vary slightly between DBS/POSB, OCBC, and UOB, the core process follows this 3-step logic:
1. Log In and Navigate to Settings
Open your banking app (such as DBS digibank or OCBC Digital) and log in securely. Locate the main menu and select "Transfer Settings" or "Local Transfer Limits."
2. Select PayNow and Modify Amount
Choose "PayNow" from the list of transfer types. You will see your current daily default limit (often set to SGD 1,000 or SGD 5,000). Enter your new desired limit. Note that most banks have a maximum daily cap (e.g., SGD 200,000 for DBS).
3. Authenticate and Save
To finalize the change, you will be required to authenticate the request using your digital token or 2FA SMS. Once verified, the new limit applies immediately, allowing you to make larger payments or restrict funds for security.
Comparison: Panda Remit vs. Traditional Singapore Remittance Options
Once your PayNow limit is set, you can use it to fund international remittances. Below is a comparison of how Panda Remit stacks up against local competitors when using PayNow for funding.
| Feature | Panda Remit | Traditional Banks (DBS Remit) | Other Apps (Wise/Singtel Dash) |
|---|---|---|---|
| PayNow Integration | Seamless Support (Direct in-app payment) | Native Integration | Supported |
| Transfer Speed | As fast as 2 minutes (24/7 processing) | 1-3 Business Days | Varies (Instant to 2 days) |
| Exchange Rates | Mid-market rates (Zero hidden fees) | Bank rates (Often include markup) | Mid-market + Variable fees |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed |
Why Security Matters: MAS Regulation
Increasing your PayNow limit offers convenience, but it requires a secure ecosystem. Panda Remit is 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. Whether you are sending SGD 100 or SGD 10,000, your funds are protected by the highest compliance standards in Singapore.
Explore More on Singapore Remittance
- What is the maximum PayNow daily limit for DBS?
Most users can adjust their limit up to SGD 200,000 via the digibank app, though default limits are lower for safety. - How to increase PayNow transfer limit OCBC?
OCBC users can adjust limits via the "Payment & Transfers" section in the app, with changes taking effect immediately after digital token verification.
Ready to experience fast, secure, and low-cost global transfers? Register with Panda Remit Singapore today and enjoy exclusive offers for new users.
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.
