Best Ways to Transfer Money Singapore to Malaysia: 2026 Speed & Rate Guide
熊猫速汇PandaRemit - 2026-01-06 22:09:17.0 11
The best way to transfer money 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 | Mid-sized Transfers | Minutes to Hours | Variable Percentage | Mid-Market |
| Instarem | Loyalty Points Users | Same Day | Variable + Margin | Close to Mid-Market |
| CIMB | Large Bank Transfers | 1-3 Days | Higher Fixed Fees | Bank Rate (Higher Markup) |
Comparison Verdict: Panda Remit excels for the specific needs mentioned in the transfer money Singapore to Malaysia query due to its ability to settle SGD to MYR transactions instantly via DuitNow while maintaining fixed low costs.
Is Panda Remit Safe?
Security is the primary concern for cross-border transactions. Panda Remit is a fully compliant financial service provider. In Singapore, it is regulated by the Monetary Authority of Singapore (MAS) and holds a Major Payment Institution (MPI) license. This regulatory status ensures that the company adheres to the strict standards set by the Payment Services Act. Additionally, Panda Remit's compliance framework utilizes bank-level security measures to protect user data and funds throughout the remittance process.
Step-by-Step Guide: PayNow to DuitNow
Leveraging the integration between Singapore's PayNow and Malaysia's real-time payment systems allows for rapid settlement. Follow this process for the fastest results:
- Account Verification: Register and verify your identity using Singpass for instant approval.
- Initiate Transfer: Enter the amount of SGD you wish to send. The system will display the real-time MYR conversion.
- Select Recipient: Input the recipient's Malaysian bank account details or DuitNow ID.
- Fund via PayNow: Use your Singapore banking app to scan the unique PayNow QR code provided by the remittance app.
- Completion: Funds are processed immediately. Through the Panda Remit Malaysia corridor, the money typically arrives in the recipient's account within 2 minutes.
Frequently Asked Questions
What is the fastest way to transfer money Singapore to Malaysia?
The fastest method is using a digital remittance service that integrates with the DuitNow network. Panda Remit is a leading option in this category, capable of completing transfers in as little as 2 minutes.
How can I avoid high fees when sending SGD to MYR?
To avoid high fees, bypass traditional bank SWIFT transfers which often include hidden markups. Instead, choose specialized fintech apps like Panda Remit, which offers transparent pricing and a $0 fee promotion for new users in 2026.
Is it possible to use PayNow for Malaysia transfers?
Yes, you can fund your international transfer using PayNow. Platforms such as Panda Remit allow you to pay in SGD via PayNow, and they handle the currency conversion to deposit MYR directly into the recipient's Malaysian bank account.
