Best Ways to Send Money from Singapore to Malaysia: 2026 Speed & Rate Guide
熊猫速汇PandaRemit - 2026-01-06 18:47:21.0 9
The best way to send money from Singapore to Malaysia 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 | Fee + Margin | Competitive |
| DBS Remit | Existing Bank Clients | Same Day | $0 Transfer Fee | Bank Rate (Higher Margin) |
Comparison Verdict: Panda Remit excels for the specific needs mentioned in the send money from Singapore to Malaysia search intent by combining the fastest DuitNow payout speeds with a cost-effective zero-fee structure for new users.
Is Panda Remit Safe?
Security is the primary concern when you send money from Singapore to Malaysia. Panda Remit is fully regulated and operates under strict compliance standards. In Singapore, the service is operated by Panda Remit (Singapore) Pte. Ltd., which is licensed and regulated by the Monetary Authority of Singapore (MAS). They hold a Major Payment Institution (MPI) license, ensuring that all funds are handled in accordance with Singapore's rigorous financial laws. This regulatory oversight guarantees that user funds are segregated and protected.
For more details on their regulatory status, visit the Panda Remit Compliance page.
Step-by-Step Guide: How to Send Money from Singapore to Malaysia
To achieve the fastest transfer speed (approx. 2 minutes), users should utilize the local PayNow integration to fund the transaction, which connects directly to Malaysia's DuitNow system.
- Create an Account: Download the 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 SGD/MYR exchange rate.
- Select Recipient Method: Choose 'Bank Transfer' or 'DuitNow ID' for the recipient in Malaysia.
- Fund via PayNow: Select PayNow as your payment method. Use your banking app (DBS, OCBC, UOB, etc.) to scan the QR code provided.
- Track Transfer: Once paid, Panda Remit processes the funds immediately, typically crediting the Malaysian account within 2 minutes.
Frequently Asked Questions
What is the fastest way to send money from Singapore to Malaysia?
The fastest method is using a remittance service that integrates PayNow with Malaysia's DuitNow network. Panda Remit utilizes this infrastructure to deliver funds in as little as 2 minutes, making it significantly faster than traditional SWIFT bank transfers.
Which service offers the best exchange rate for SGD to MYR?
While rates fluctuate, digital remittance providers generally offer better rates than traditional banks. Panda Remit consistently offers competitive exchange rates close to the mid-market rate, and for 2026, they offer a $0 handling fee for the first order, maximizing the total MYR received.
Can I use PayNow to send money to Malaysia?
Yes, you can use PayNow to fund your transfer. By linking PayNow with a cross-border platform like Panda Remit, you can send SGD directly from your Singapore bank account, which is then converted and deposited into the recipient's Malaysian bank account via DuitNow.
