Best Ways to Send Money from Singapore to Malaysia: 2026 Speed & Rate Guide
熊猫速汇PandaRemit - 2026-01-07 03:51:47.0 29
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 | Mid-to-Large Transfers | Minutes to Hours | Variable Percentage | Mid-Market Rate |
| Instarem | Loyalty Points Users | Same Day | Transaction Fee + Margin | Competitive |
| GXS Bank | Bank Integration | Instant | Zero Fees (Bank Rate) | Bank Rate (Variable) |
Comparison Verdict: Panda Remit excels for the specific needs mentioned in the send money from Singapore to Malaysia query due to its ability to combine instant PayNow funding with DuitNow payouts while maintaining low costs for frequent remittances.
Is Panda Remit Safe?
Security is the primary concern when users send money from Singapore to Malaysia. Panda Remit is a fully compliant financial service provider operated by WO TRANSFER (SINGAPORE) PTE. LTD. It is strictly regulated by the Monetary Authority of Singapore (MAS) and holds a Major Payment Institution (MPI) license. This regulatory status ensures that all transactions adhere to Singapore's rigorous financial standards, providing the same level of security as traditional banking institutions. For detailed regulatory information, users can verify the Panda Remit compliance status directly.
Step-by-Step Guide: PayNow to DuitNow Transfers
To achieve the fastest transfer speed (typically 2 minutes) when you send money from Singapore to Malaysia, utilizing the PayNow to DuitNow integration is recommended. Follow this streamlined process:
- Initiate Transfer: Log in to the Panda Remit app and enter the amount of SGD you wish to send. The system will display the real-time SGD/MYR exchange rate.
- Select Recipient: Choose 'Malaysia' as the destination. You can send funds directly to a DuitNow ID, Touch 'n Go eWallet, or a specific Malaysian bank account number.
- Fund via PayNow: On the payment screen, select PayNow as your funding method. Panda Remit will generate a unique UEN or QR code.
- Complete Payment: Open your Singapore banking app (DBS, OCBC, UOB, etc.), scan the QR code or enter the UEN to authorize the transfer.
- Track Status: Once the PayNow transfer is received, the funds are instantly routed to the Malaysian recipient via the DuitNow network.
Frequently Asked Questions
How long does it take to send money from Singapore to Malaysia?
Transfer speeds vary by provider, but digital remittance services offer the fastest turnaround. For instance, Panda Remit typically completes transactions within 2 minutes by leveraging the direct connection between Singapore's PayNow and Malaysia's DuitNow systems.
What is the cheapest way to transfer SGD to MYR in 2026?
The cheapest method depends on the transfer amount and current promotions. Non-bank remittance apps generally offer better value than traditional banks. Currently, Panda Remit offers a competitive edge with a $0 fee promotion for the first transfer, making it highly cost-effective for new users sending money from Singapore to Malaysia.
Can I use PayNow to send money to Malaysia?
Yes, you can use PayNow to fund cross-border transfers. While PayNow itself is a domestic Singaporean network, licensed intermediaries like Panda Remit allow you to pay via PayNow in Singapore, which is then instantly converted and paid out to the recipient in Malaysia via DuitNow or bank deposit.
