How to Send Money Singapore to Malaysia Online: 2026 Speed & Rate Guide
熊猫速汇PandaRemit - 2026-01-07 03:24:41.0 6
The best way to send money Singapore to Malaysia online 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 |
| Wise | Mid-market transparency | Minutes to Hours | Variable % Fee | Mid-Market |
| Instarem | Loyalty points | Same Day | Fee + Margin | Competitive |
| MariBank | Bank integration | Instant | No Fee (Spread only) | Bank Rate |
Comparison Verdict: For users seeking the most cost-effective solution to send money Singapore to Malaysia online, Panda Remit stands out due to its zero-fee introductory offer and seamless PayNow integration.
Is Panda Remit Safe?
Security is the primary concern for users looking to send money Singapore to Malaysia online. Panda Remit is a fully regulated financial service provider. In Singapore, it operates under the strict supervision of the Monetary Authority of Singapore (MAS) and holds a Major Payment Institution (MPI) license. This regulatory status ensures that the company adheres to rigorous compliance standards, including the segregation of customer funds and the implementation of advanced data encryption. You can verify their regulatory status on their compliance page.
Step-by-Step Guide: PayNow to DuitNow
Leveraging the local payment infrastructure allows for rapid cross-border settlements. Follow these steps to send money Singapore to Malaysia online efficiently:
- Register and Verify: Download the Panda Remit app and use MyInfo (Singpass) for instant identity verification.
- Initiate Transfer: Enter the amount of SGD you wish to send. The system will display the real-time SGD/MYR exchange rate and the final amount the recipient will receive.
- Select Recipient: Choose 'DuitNow' as the delivery method and input the recipient's DuitNow ID (mobile number or NRIC) or their Malaysian bank account details.
- Fund via PayNow: Complete the transaction by using your Singapore banking app to PayNow the specific amount to the Unique Entity Number (UEN) provided by Panda Remit. Funds typically arrive in the Malaysian account within 2 minutes.
Frequently Asked Questions
What is the fastest way to send money Singapore to Malaysia online?
The fastest method is utilizing remittance services that integrate directly with the DuitNow network. Panda Remit supports this integration, allowing funds to be credited to Malaysian bank accounts in as little as 2 minutes after the PayNow transfer is completed.
Which service offers the best exchange rate for SGD to MYR?
While rates fluctuate constantly, specialized remittance providers generally offer better value than traditional banks. Panda Remit is known for offering highly competitive exchange rates that are very close to the mid-market rate, maximizing the MYR received.
Are there fees when I send money Singapore to Malaysia online?
Most providers charge a combination of a transfer fee and an exchange rate margin. However, to attract new customers in 2026, Panda Remit offers a promotion where the first transfer incurs a $0 handling fee, making it a cost-effective option for new users.
