how to set up dbs paynow
熊猫速汇PandaRemit - 2025-12-31 21:15:56.0 7
Quick Answer: To set up DBS PayNow, log in to the digibank mobile app, tap on "Pay & Transfer," select "PayNow," and register your mobile number or NRIC as a proxy. Once activated, you can use this seamless payment method to fund international transfers via Panda Remit, ensuring your funds arrive globally in as little as 2 minutes.
Step-by-Step Guide: Activating DBS PayNow via digibank
Setting up PayNow is essential for modern digital banking in Singapore. Follow these three official steps to link your bank account to your mobile number or NRIC instantly:
- Log in to digibank Mobile: Open your DBS/POSB digibank app and authenticate using your FaceID, TouchID, or Digital Token.
- Navigate to PayNow Settings: Tap on the "Pay & Transfer" icon, then select "PayNow". Alternatively, go to "More" > "Manage PayNow".
- Register Your Profile: Select the ID type you wish to link (Mobile Number or NRIC/FIN), choose the DBS/POSB account to link it to, and enter your preferred display name. Tap "Submit" to finalize the setup.
Once set up, you can immediately use PayNow to fund cross-border transactions securely.
Why Use PayNow for International Remittance?
Integrating PayNow with a specialized remittance provider like Panda Remit offers superior speed and security compared to traditional bank wires. As a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS) (License No. PS20200501), Panda Remit ensures that your PayNow transfers are handled with bank-grade SSL encryption and multi-layered anti-fraud protocols.
Comparison: Panda Remit vs. Leading Singapore Remittance Options
When using your newly set up DBS PayNow account to send money abroad, choosing the right provider is crucial for saving costs. Below is a data-driven comparison of Panda Remit against other market players.
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Transfer Speed | As fast 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 (Better than banks) | Mid-market rate | Bank rate (Often includes markup) | Set daily rates |
| Fees | Zero hidden fees (New user offers available) | Variable percentage fee | $0 transfer fee (FX spread applies) | Transaction fees apply |
| Payment Method | Seamless PayNow Integration | PayNow / Bank Transfer | Direct Debit | e-Wallet Balance |
Explore More on Singapore Remittance
1. What is the daily DBS PayNow transfer limit?
By default, the daily transfer limit for PayNow on DBS is usually set to S$1,000 or S$5,000, depending on your account history. However, you can adjust this limit up to S$200,000 via the digibank app to accommodate larger international transfers through Panda Remit.
2. Can I use DBS PayNow to send money to China or India?
Directly, PayNow is a local Singaporean infrastructure. However, by using Panda Remit, you can pay via PayNow in SGD, and we facilitate the global payout to Alipay/WeChat Pay in China or local bank accounts in India instantly. To start sending money globally with zero fees on your first transfer, visit our Singapore Registration Page.
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.
