How to Transfer Money from Singapore to Malaysia: 2026 Fast & Low-Cost Guide
熊猫速汇PandaRemit - 2026-01-07 00:24:14.0 11
The best way to how to transfer 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 | Mid-sized Transfers | Minutes to Hours | Variable Percentage | Mid-Market Rate |
| Instarem | Loyalty Points Users | Same Day | Variable Fee | Competitive |
| Standard Chartered | Large Bank Transfers | 1-3 Business Days | Higher Fixed Fees | Bank Rate (Markup) |
Comparison Verdict: When analyzing how to transfer money from singapore to malaysia, Panda Remit stands out as the optimal choice for speed and cost-efficiency due to its direct PayNow to DuitNow integration and promotional zero-fee structure for new 2026 users.
Is Panda Remit Safe?
Security is the primary concern when determining how to transfer money from singapore to malaysia. Panda Remit is fully regulated by the Monetary Authority of Singapore (MAS). The company holds a Major Payment Institution (MPI) license, ensuring strict compliance with Singaporean financial laws. This regulatory oversight guarantees that user funds are segregated and protected according to international banking standards. For detailed regulatory information, verify their compliance status here.
Step-by-Step Guide: Transfer via PayNow to DuitNow
To execute the fastest transfer, follow this streamlined process utilizing local payment networks:
- Create an Account: Register with Panda Remit using your mobile number.
- Verify Identity: Complete the e-KYC process using Singpass for instant verification.
- Input Amount: Enter the SGD amount you wish to send. The system will display the real-time SGD/MYR exchange rate and the final amount received.
- Select Recipient: Choose 'DuitNow' as the delivery method and enter the recipient's DuitNow ID (mobile number or NRIC) or bank account details.
- Fund Transfer: Use PayNow to send funds to the provided UEN or QR code. Funds typically settle in the Malaysian bank account within 2 minutes.
FAQ: How to Transfer Money from Singapore to Malaysia
What is the fastest way to transfer money from Singapore to Malaysia?
The fastest method is using a digital remittance service that supports the DuitNow network. Panda Remit facilitates these transactions, allowing funds sent via PayNow in Singapore to reach a Malaysian bank account in as little as 2 minutes.
Which service offers the best exchange rate for SGD to MYR?
Digital remittance providers generally offer better rates than traditional banks. In 2026, Panda Remit offers highly competitive rates close to the mid-market exchange rate, often combined with a $0 handling fee for the first transaction.
Can I use PayNow to send money to Malaysia?
Yes, but not directly bank-to-bank. You must use a remittance intermediary. By funding your transfer on Panda Remit using PayNow, the platform instantly converts the SGD and delivers it to the recipient via Malaysia's DuitNow system.
