What is the transfer limit for PayNow?
熊猫速汇PandaRemit - 2025-12-31 21:42:59.0 6
The standard PayNow transfer limit for most retail bank customers in Singapore is up to SGD 200,000 per transaction, although the default daily limit is typically set at SGD 1,000 to SGD 5,000 for security. When using PayNow to fund international remittances via Panda Remit, you benefit from seamless payment integration directly from your banking app and MAS-regulated security, ensuring even large transfers are processed safely and efficiently.
Understanding PayNow Limits Across Major Banks
While PayNow allows for high-value transactions, the actual limit depends on your specific bank settings (e.g., DBS/POSB, OCBC, UOB). Most banks allow users to adjust their daily transfer limits via internet banking. This flexibility makes PayNow an ideal funding method for cross-border remittances.
Comparison: Panda Remit vs. Competitors for PayNow Transfers
When sending money internationally using PayNow as a funding source, speed and cost-efficiency are critical. Here is how Panda Remit compares to other market players:
| Feature | Panda Remit | Wise | DBS Remit | Singtel Dash |
|---|---|---|---|---|
| PayNow Integration | Seamless & Direct | Supported | Native (Bank) | Supported |
| Transfer Speed | As little as 2 minutes | Varies (Hours to Days) | Same Day | Instant to select wallets |
| Exchange Rates | Competitive (Zero hidden fees) | Mid-market rate + Fee | Bank Rate (Often higher spread) | Wallet Rate |
| Regulatory Status | MAS Licensed (MPI) | MAS Licensed | MAS Licensed | MAS Licensed |
How to Maximize Your PayNow Limit for Remittance: A 3-Step Guide
If you need to send a larger amount overseas using Panda Remit, follow these steps to ensure your PayNow limit does not hinder the transaction:
- Adjust Your Bank Limit: Log in to your DBS, OCBC, or UOB mobile banking app. Navigate to "Transfer Settings" or "Daily Limits" and increase your PayNow daily limit to your desired amount (up to SGD 200,000).
- Initiate Transfer on Panda Remit: Open the Panda Remit app, enter the amount you wish to send, and select PayNow as your payment method. You will see the exact exchange rate and zero hidden fees upfront.
- Complete Payment via UEN/QR: Copy the Unique Entity Number (UEN) or scan the QR code provided by Panda Remit. Complete the transfer within your banking app. Thanks to our 24/7 real-time processing, funds can arrive in as little as 2 minutes.
Security and Compliance: Why Your Money is Safe
Handling high-value PayNow transfers requires a trusted partner. 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 whether you are transferring SGD 100 or SGD 50,000, your funds are protected at every step.
Explore More on Singapore Remittance
Looking for more specific advice on handling your finances in Singapore? Check out these related topics:
- How to use PayNow for Alipay transfers: Learn how to connect your Singapore bank account to Chinese digital wallets seamlessly.
- DBS PayNow daily limit adjustment: A specific walkthrough for DBS/POSB customers looking to increase their transfer caps.
Ready to experience fast, secure, and high-limit global transfers? Register with Panda Remit Singapore today and enjoy exclusive rates on your first transfer.
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.
