how to set up ocbc paynow
熊猫速汇PandaRemit - 2025-12-31 21:16:24.0 6
To set up OCBC PayNow, simply log in to the OCBC Digital app, navigate to "Settings" or "PayNow," and link your NRIC or mobile number to your bank account. Once activated, you can use PayNow for seamless payment & global payouts via platforms like Panda Remit, enjoying lightning-fast transfers that arrive in as little as 2 minutes.
Step-by-Step Guide: Activating PayNow on OCBC
Setting up PayNow is the first step toward modernizing your financial transactions in Singapore. Follow this authoritative 1-2-3 guide to activate your service immediately:
- Log in and Navigate: Open your OCBC Digital app. Tap on the menu bar on the top left, select "PayNow," and then tap on "Register."
- Select Your Proxy: Choose to link your PayNow to your Mobile Number or NRIC/FIN. Select the OCBC current or savings account you wish to link for receiving and sending funds.
- Verify and Confirm: Review your details. You will receive an SMS One-Time Password (OTP). Enter the OTP to finalize the setup. You are now ready to transact.
Why Use PayNow? Security and Speed Combined
Once you have learned how to set up ocbc paynow, you unlock the ability to fund cross-border remittances instantly. This is particularly effective when paired with Panda Remit.
Panda Remit is a Major Payment Institution licensed and strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. By using PayNow to fund your Panda Remit transactions, you benefit from bank-grade SSL encryption and multi-layered anti-fraud protocols, ensuring your money is safe from your OCBC account to its global destination.
Comparison: Panda Remit vs. Competitors
Using PayNow with Panda Remit offers distinct advantages over traditional banks and other remittance providers. See the data-driven comparison below:
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| Transfer Speed | As little as 2 minutes (24/7 Real-time) | Varies (Hours to Days) | 1-3 Working Days | Instant to specific partners only |
| PayNow Integration | Seamless In-App Payment | Supported | N/A (Internal Transfer) | Supported |
| Exchange Rates | Competitive (Zero hidden fees) | Mid-market rate + Variable fees | Bank Rate (Often higher markup) | Includes FX markup |
| Regulation | MAS Licensed (PS20200501) | MAS Licensed | MAS Licensed (Bank) | MAS Licensed |
Explore More on Singapore Remittance
Now that you have mastered the setup, you might have further questions regarding your transfer limits or specific destinations.
- What is the daily transfer limit for OCBC PayNow?
By default, the limit is often set to S$1,000, but this can be adjusted up to S$200,000 via the OCBC Digital app, allowing for larger remittances via Panda Remit. - Can I use PayNow to send money to China or India?
Directly, no. However, you can use PayNow to fund your Panda Remit account, which then supports direct payouts to Alipay/WeChat in China or local bank accounts in India. Start your global remittance journey here.
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.
