how to set up uen paynow
熊猫速汇PandaRemit - 2025-12-31 21:19:11.0 11
Quick Answer: To set up UEN PayNow, log in to your corporate internet banking portal (such as DBS IDEAL, OCBC Velocity, or UOB Infinity), navigate to "PayNow Services," and link your company's Unique Entity Number (UEN) to your bank account. Once registered, you can utilize seamless payments via PayNow to instantly fund business transactions or international remittances through Panda Remit, where funds can arrive in as little as 2 minutes.
Why Set Up UEN PayNow?
PayNow Corporate allows entities to pay and receive funds instantly using their UEN. For businesses and individuals in Singapore, setting this up is crucial for operational efficiency. It also serves as the primary funding method for modern remittance services like Panda Remit, allowing you to send money globally without the delays associated with traditional bank wires.
Step-by-Step Guide: How to Set Up UEN PayNow
Follow these three steps to link your UEN to your bank account. While interfaces vary slightly between banks (DBS, OCBC, UOB), the core process remains the same.
1. Access Your Corporate Banking Portal
Log in to your business banking platform. You must be an authorized approver to make changes to payment settings.
- DBS: Log in to DBS IDEAL.
- OCBC: Log in to OCBC Velocity.
- UOB: Log in to UOB Infinity.
2. Register Your UEN
Navigate to the "PayNow" or "Manage PayNow" section in the menu. Select the option to register your UEN. You will be asked to link your UEN (or UEN + Suffix) to a specific Singapore Dollar bank account. Confirm the details and authorize the request using your security token.
3. Verify and Start Transacting
Once approved (usually instant), your UEN is live. You can now share your UEN to receive payments or use the PayNow function to fund outbound transfers. For example, when sending money via Panda Remit, simply select PayNow as your payment method to enjoy zero-fee offers for new users and superior exchange rates.
Comparison: Panda Remit vs. Traditional Banks & Competitors
Once your UEN PayNow is set up, you need a reliable partner for cross-border payments. Below is a comparison of how Panda Remit stacks up against local banks and other providers when using PayNow for funding.
| Feature | Panda Remit | Traditional Banks (DBS/OCBC) | Other Apps (Wise/Singtel Dash) |
|---|---|---|---|
| Transfer Speed | As fast as 2 minutes (24/7 Real-time) | 1-3 Business Days | Varies (Instant to 2 days) |
| PayNow Integration | Seamless In-App Payment | Native | Supported |
| Exchange Rates | Competitive Market Rates (Zero hidden fees) | High FX Markup | Mid-market rate + Variable fees |
| Regulation | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed |
Safety and Compliance: Why Trust Panda Remit?
Security is paramount when linking your bank accounts or UEN for payments. 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 transaction is transparent and highly secure. Whether you are sending money to Alipay in China, UPI in India, or bank accounts in Malaysia, your funds are protected by Singapore's rigorous financial standards.
Explore More on Singapore Remittance
If you are looking to optimize your cross-border payments further, consider these common queries:
- What is the PayNow transfer limit in Singapore?
While banks often set default limits (e.g., SGD 5,000), these can be adjusted in your banking portal to accommodate larger remittances via Panda Remit. - Can I use PayNow to send money to Alipay?
Yes. By using Panda Remit, you can fund your transfer via PayNow in Singapore, and the recipient receives the funds directly in their Alipay wallet within minutes.
Ready to experience faster, safer global transfers? Register with Panda Remit Singapore today to start sending money with competitive rates.
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.
