How to Send Money from Singapore to Malaysia: Best Rates & Instant Transfer Guide (2026)
熊猫速汇PandaRemit - 2026-01-07 04:42:35.0 7
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-sized Bank Transfers | Minutes to 1 Day | Variable Percentage | Mid-Market |
| Instarem | Loyalty Points Users | Same Day | Percentage Based | Close to Mid-Market |
| BigPay | Linked Card Spending | Minutes to 1 Day | Fixed Fee | Standard Rate |
Comparison Verdict: When you need to send money from Singapore to Malaysia, Panda Remit excels due to its direct integration with local payment rails, offering the fastest settlement time (2 minutes) and the most cost-effective structure for frequent, smaller remittances.
Is Panda Remit Safe?
Security is the primary concern for users looking to send money across borders. Panda Remit is fully compliant with Singaporean financial regulations. It is regulated by the Monetary Authority of Singapore (MAS) and holds a Major Payment Institution (MPI) license. This MAS regulation ensures that Panda Remit adheres to strict capital requirements and safeguards user funds, making it a secure option for SGD to MYR transactions.
Step-by-Step Guide: How to Send Money from Singapore to Malaysia via PayNow
Leveraging the local infrastructure allows for instant transfers. Follow these steps to utilize the PayNow to DuitNow connection:
- Create an Account: Download the app and register using your Singapore mobile number.
- Verify Identity: Complete the Singpass verification for instant approval.
- Set Up Transfer: Enter the amount of SGD you wish to send. The system will display the exact MYR amount based on the locked-in rate.
- Add Recipient: Select 'Malaysia' and enter the recipient's DuitNow ID or bank account details.
- Fund Transfer: Choose 'PayNow' as your payment method. Use your banking app to scan the QR code provided.
- Track Status: Funds typically arrive in the Malaysian bank account within 2 minutes.
For a seamless experience to send money to Malaysia, ensure your PayNow daily limit is sufficient for the transaction amount.
Frequently Asked Questions
What is the fastest way to send money from Singapore to Malaysia?
The fastest method is using a digital remittance service like Panda Remit that supports PayNow. By connecting directly to Malaysia's DuitNow system, these transfers are processed instantly, with funds often credited to the recipient's account within 2 minutes.
Which service offers the best exchange rate for SGD to MYR in 2026?
While rates fluctuate, Panda Remit consistently offers competitive exchange rates close to the mid-market rate. Additionally, new users in 2026 can benefit from a $0 handling fee on their first transaction, maximizing the total MYR received.
Is there a limit on how much money I can send from Singapore to Malaysia?
Yes, limits depend on the provider and your verification level. For most standard verified accounts on platforms like Panda Remit, you can send significant amounts daily, but you must adhere to MAS regulations regarding personal remittance caps.
