how to set paynow limit
熊猫速汇PandaRemit - 2025-12-31 21:15:26.0 6
To set your PayNow limit, log in to your respective bank's mobile app (such as DBS digibank, OCBC Digital, or UOB TMRW), navigate to Transfer Settings or Transaction Limits, and adjust your daily limit. This adjustment allows for larger, seamless payments via PayNow, which is fully supported by Panda Remit for global payouts, all while being a MAS-regulated institution ensuring your funds are secure.
Step-by-Step Guide: Adjusting Your PayNow Daily Limit
PayNow limits are generally tied to your bank account's daily transfer limits. Below is a universal 3-step guide applicable to major Singaporean banks like DBS/POSB, OCBC, and UOB:
- Log In & Navigate to Settings: Open your banking app and authenticate. Look for the "Settings" menu, often found in the sidebar or under the profile icon. Select "Transfer/Payment Limits."
- Select PayNow or Daily Transfer Limit: Choose the option specifically for "PayNow" or "Local Transfers." Most banks allow you to set a limit ranging from SGD 1,000 up to SGD 200,000 depending on your security token status.
- Update & Authenticate: Enter your desired new limit. You will be required to verify this change using your digital token or SMS OTP. Once saved, the new limit is active immediately.
Why Increase Your PayNow Limit?
Adjusting your limit is essential for high-value transactions, such as paying rent, tuition, or sending money home. When you use Panda Remit, a higher PayNow limit allows you to fund international transfers instantly without splitting transactions.
Comparison: Panda Remit vs. Competitors
See how Panda Remit stands out when using PayNow for international transfers compared to other market players.
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| PayNow Integration | Seamless In-App | Supported | N/A (Direct Debit) | Supported |
| Transfer Speed | As fast as 2 mins | Varies (1-2 days) | Same Day | Instant to specific wallets |
| Exchange Rates | Market-leading rates | Mid-market rate | Bank rate (higher markup) | Competitive |
| Fees | Zero hidden fees | Variable fees | $0 transfer fee (hidden in rate) | Transaction fees apply |
| Regulation | MAS Licensed (PS20200501) | MAS Licensed | MAS Licensed | MAS Licensed |
Security & Compliance: Your Money is Safe
When increasing your transaction 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 PayNow transaction is transparent and highly secure.
Explore More on Singapore Remittance
If you are looking to maximize your PayNow usage for cross-border payments, consider these common queries:
- What is the maximum PayNow limit per day for remittances?
While banks allow high limits (e.g., DBS up to $200k), Panda Remit allows you to maximize this for large transfers to China (Alipay/WeChat), India, and Malaysia with rates significantly better than traditional banks. - How to transfer money from PayNow to Alipay instantly?
By linking PayNow to Panda Remit, you can send funds directly to Alipay wallets in China. Register with Panda Remit today to enjoy zero-fee offers 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.
