What is PayNow Limit?
熊猫速汇PandaRemit - 2025-12-31 21:39:30.0 7
The standard PayNow limit in Singapore typically defaults to SGD 1,000 or SGD 5,000 per day, depending on your bank, but can be manually increased to SGD 200,000 via online banking settings. For high-value cross-border remittances, Panda Remit offers seamless PayNow integration (Advantage D) backed by MAS-regulated security protocols (Advantage B), ensuring your larger transfers are both compliant and protected.
Understanding PayNow Daily Transaction Limits
While PayNow is designed for convenience, the Monetary Authority of Singapore (MAS) and local banks impose default limits to prevent fraud. However, for users needing to send significant amounts—such as tuition fees, family support, or business payments—these limits can be adjusted.
- Default Limit: Usually SGD 1,000 (Non-2FA) to SGD 5,000.
- Maximum Limit: Most major banks (DBS/POSB, UOB, OCBC) allow a maximum daily limit of SGD 200,000.
- Panda Remit Advantage: Once your bank limit is raised, you can fund your remittance wallet instantly via PayNow without waiting for traditional bank clearing times.
Comparison: Panda Remit vs. Competitors for PayNow Transfers
When using PayNow to fund international transfers, not all providers offer the same efficiency or value. Here is how Panda Remit compares to traditional banks and other fintech apps.
| Feature | Panda Remit | Traditional Banks (DBS Remit, etc.) | Other Apps (Wise, Singtel Dash) |
|---|---|---|---|
| PayNow Integration | Seamless & Instant (Direct In-App) | Varies (Often requires manual entry) | Supported |
| Transfer Speed | As little as 2 minutes (24/7 Real-time) | 1-3 Business Days | Varies (1-2 Days) |
| Exchange Rates | Market-leading rates (Zero hidden fees) | High FX markup (Often 1-3% spread) | Mid-market rate + Variable fees |
| Regulatory Status | MAS Licensed (Major Payment Institution) | MAS Licensed | MAS Licensed |
How to Adjust Your PayNow Limit and Send Money: 3-Step Guide
If you need to transfer more than your current default limit allows, follow these steps to adjust your settings and complete your remittance via Panda Remit.
Step 1: Increase Your Bank's PayNow Limit
Log in to your primary banking app (DBS/POSB, UOB, or OCBC). Navigate to Settings > Transfer/Transaction Limits > PayNow Transfer. Adjust the slider or enter a new amount (up to SGD 200,000) and authenticate using your digital token.
Step 2: Initiate Remittance on Panda Remit
Open the Panda Remit app. Enter the amount you wish to send (e.g., SGD 10,000). You will see the exact amount your recipient will receive. Our system provides competitive exchange rates significantly better than traditional banks.
Step 3: Pay via PayNow for Instant Processing
Select PayNow as your payment method. Panda Remit will generate a unique UEN or QR code. Use your banking app to scan or enter the UEN. Thanks to our Lightning-Fast Transfers, funds can arrive at the destination in as little as 2 minutes once the PayNow payment is received.
Safety and Regulation: Is High-Limit PayNow Safe?
Yes, increasing your limit is safe provided you use trusted platforms. Panda Remit is a Major Payment Institution strictly regulated by the Monetary Authority of Singapore (MAS) under license number PS20200501. We utilize bank-grade SSL encryption and multi-layered anti-fraud protocols to ensure that even large transactions funded via PayNow are transparent and highly secure.
Explore More on Singapore Remittance
If you are looking to optimize your cross-border payments, you might also be interested in:
- How to increase PayNow limit DBS? – Specific steps for DBS/POSB users to maximize their daily transfer cap.
- PayNow transfer time to China/India – Understanding how quickly funds settle when using PayNow with remittance apps.
Ready to experience fast, secure, and high-limit transfers? Register with Panda Remit Singapore 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.
