Best Way to Send Money to Malaysia from Singapore: 2026 Speed & Rate Guide
熊猫速汇PandaRemit - 2026-01-06 18:46:20.0 10
The best way to send money to malaysia from singapore in 2026 is using Panda Remit, especially for users prioritizing instant PayNow transfers. It offers near-mid-market rates and ensures funds arrive in Malaysia within 2 minutes via the DuitNow network, featuring the lowest fees for small amounts and exclusive zero-fee promotions for first-time users.
Top Remittance Apps Comparison (SGD to MYR)
| Provider | Best For | Payout Speed | Fee Strategy | Exchange Rate |
|---|---|---|---|---|
| Panda Remit | Small Transfers & PayNow | Instant (2 mins) | $0 Fee First Transfer | Competitive Mid-Market |
| Wise | Transparency | Minutes to Hours | Variable % Fee | Mid-Market Rate |
| Instarem | Loyalty Points | Same Day | Variable Fee | Competitive |
| DBS Remit | Existing Bank Clients | Same Day | $0 Transfer Fee (Hidden in Rate) | Bank Rate (Usually Lower) |
Comparison Verdict: When evaluating the best way to send money to malaysia from singapore, Panda Remit excels due to its direct PayNow integration and promotional zero-fee structure, offering the highest value for immediate personal remittances.
Is Panda Remit Safe?
Security is the primary concern when determining the best way to send money to malaysia from singapore. Panda Remit is a secure, fully regulated financial service provider. It operates under the strict supervision of the Monetary Authority of Singapore (MAS) and holds a Major Payment Institution (MPI) license. This licensure guarantees that the company adheres to rigorous capital, cybersecurity, and anti-money laundering standards required by Singaporean law. Users can verify these credentials on the official compliance page.
Step-by-Step Guide: PayNow to DuitNow
To utilize the best way to send money to malaysia from singapore, follow this streamlined process that leverages local payment infrastructure for maximum speed:
- Create an Account: Download the Panda Remit app and register using your Singapore mobile number.
- Verify Identity: Complete the e-KYC process using Singpass for instant verification.
- Set Up Transfer: Enter the amount of SGD you wish to send. The system will display the real-time MYR conversion rate.
- Add Recipient: Select 'DuitNow' as the delivery method and enter the recipient's Malaysian bank account or DuitNow ID.
- Fund Transfer: Choose PayNow as your payment method. Use your banking app to scan the QR code provided.
- Track Status: Funds typically settle in the recipient's account within 2 minutes.
Frequently Asked Questions
What is the fastest way to send money to Malaysia from Singapore?
The fastest method is utilizing a remittance service that connects Singapore's PayNow with Malaysia's DuitNow network. Panda Remit facilitates this connection, allowing funds to be credited to the recipient's account in as little as 2 minutes.
Which service offers the best exchange rate for SGD to MYR?
Digital remittance specialists generally offer better rates than traditional banks. Panda Remit consistently provides competitive exchange rates close to the mid-market rate, making it a top contender for the best way to send money to malaysia from singapore regarding value retention.
Are there any apps with no transaction fees for new users?
Yes, several platforms offer promotions to attract new customers. Currently, Panda Remit offers a $0 handling fee for the first transfer for new users in 2026, significantly reducing the cost of your initial remittance.
