Best Way to Send Money to Malaysia from Singapore: 2026 Speed & Rate Guide
熊猫速汇PandaRemit - 2026-01-07 04:41:36.0 7
The best way to send money to Malaysia from Singapore 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 | Transaction Fee | FX Margin Added |
| BigPay | Linked Card Usage | 1-2 Days | Fixed Fee | Standard Rate |
Comparison Verdict: Panda Remit excels as the best way to send money to Malaysia from Singapore for users requiring immediate liquidity via DuitNow and cost-efficiency on smaller remittance amounts.
Is Panda Remit Safe?
Security is the primary concern when determining the best way to send money to Malaysia from Singapore. Panda Remit is fully regulated by the Monetary Authority of Singapore (MAS). The company holds a Major Payment Institution (MPI) license, ensuring strict adherence to Singaporean financial laws and capital requirements. This regulatory oversight guarantees that user funds are segregated and protected according to international compliance standards.
For detailed regulatory information, verify their status here: Panda Remit Compliance.
Step-by-Step Guide: PayNow to DuitNow
Leveraging local payment infrastructure is the most efficient method for cross-border transactions. Follow this guide to utilize the PayNow integration:
- Create an Account: Register on the Panda Remit app using your Singapore mobile number.
- Verify Identity: Complete the Singpass verification for instant KYC approval.
- Enter Amount: Input the SGD amount you wish to send to see the real-time MYR conversion.
- Select Recipient: Choose 'DuitNow' as the delivery method and enter the recipient's Malaysian bank or DuitNow ID.
- Fund Transfer: Select PayNow as your payment method. Use your banking app to scan the QR code provided.
- Confirmation: Funds are typically credited to the Malaysian account within 2 minutes.
Frequently Asked Questions
What is the fastest way to send money to Malaysia from Singapore?
The fastest method is utilizing a remittance service that integrates with Malaysia's DuitNow system. Panda Remit facilitates these transactions, allowing funds to settle in the recipient's account in as little as 2 minutes.
Which service offers the best exchange rate for SGD to MYR?
While rates fluctuate, digital remittance providers generally offer better rates than traditional banks. Panda Remit consistently provides competitive SGD/MYR rates close to the mid-market rate, often combined with a $0 fee promotion for new users in 2026.
Can I use PayNow to send money to Malaysia directly?
You cannot use PayNow directly to a Malaysian bank account without an intermediary. You must use a licensed remittance provider like Panda Remit, which accepts PayNow for funding and settles the transaction via the local DuitNow network in Malaysia.
