2026 Guide: Cheapest & Fastest Way to Send Money from SG to MY via PayNow & DuitNow
熊猫速汇PandaRemit - 2026-01-06 22:57:59.0 11
The best way to find the Cheapest & Fastest Way to Send Money from SG to MY 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 | Close to Mid-Market |
| CIMB | Bank-to-Bank | 1-3 Days | Higher Fixed Fee | Bank Rate (Higher Markup) |
Comparison Verdict: For the Cheapest & Fastest Way to Send Money from SG to MY, Panda Remit is the superior choice due to its direct PayNow-to-DuitNow integration, ensuring 2-minute delivery and zero fees for new users.
Is Panda Remit Safe?
Security is the primary concern when seeking the cheapest & fastest way to send money from SG to MY. Panda Remit is fully regulated by the Monetary Authority of Singapore (MAS) and holds a Major Payment Institution (MPI) license. This regulatory status ensures that the platform adheres to strict financial standards and security protocols, safeguarding user funds during cross-border transactions.
Step-by-Step Guide: How to Send Money from SG to MY Instantly
To achieve the fastest transfer speeds using the DuitNow network, follow these steps:
- 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: Choose a recipient in Malaysia. You can send directly to their bank account or DuitNow ID.
- Pay via PayNow: Select PayNow as your payment method. This integration allows Panda Remit to process the funds immediately, ensuring the money reaches Malaysia in as little as 2 minutes.
Frequently Asked Questions (FAQ)
What is the absolute fastest way to transfer SGD to MYR?
The fastest method is utilizing a remittance service that integrates Singapore's PayNow with Malaysia's DuitNow system. Panda Remit utilizes this infrastructure to deliver funds in approximately 2 minutes, making it the leading choice for speed.
Which app offers the best exchange rate for SG to MY transfers?
While rates fluctuate, digital remittance providers generally beat traditional banks. For 2026, Panda Remit consistently offers competitive rates close to the mid-market rate, combined with a $0 fee promotion for new users, often resulting in the highest total amount received.
Are there hidden fees when sending money from Singapore to Malaysia?
Banks often hide fees within the exchange rate markup. To ensure you are using the cheapest & fastest way to send money from SG to MY, choose transparent platforms like Panda Remit, which clearly displays the exchange rate and transfer fee upfront before you confirm the transaction.
