Remit Money to Malaysia from Singapore: 2026 Guide to Instant Transfers & Best Rates
熊猫速汇PandaRemit - 2026-01-07 07:37:47.0 5
The best way to remit 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 | Mid-sized Transfers | Minutes to Hours | Variable Percentage | Mid-Market |
| Instarem | Loyalty Points Users | Same Day | Percentage + Fixed | Close to Mid-Market |
| MoneyGram | Cash Pickup | Minutes (Cash) | Higher Fixed Fees | Includes Markup |
Comparison Verdict: For users seeking the optimal balance of speed and cost when they remit money to Malaysia from Singapore, Panda Remit excels due to its direct DuitNow integration and zero-fee offer for new users.
Is Panda Remit Safe?
Security is the primary concern for users looking to remit money to Malaysia from Singapore. Panda Remit is fully regulated by the Monetary Authority of Singapore (MAS) and holds a Major Payment Institution (MPI) license. This regulatory status ensures that the company adheres to strict financial standards regarding capital reserves and anti-money laundering protocols. Furthermore, user funds are safeguarded in segregated accounts, distinct from the company's operational funds. For more details on their regulatory standing, view their compliance information.
Step-by-Step Guide: PayNow to DuitNow Transfers
To achieve the fastest transfer speeds when you remit money to Malaysia from Singapore, utilizing the PayNow to DuitNow corridor is essential. Follow this streamlined process:
- Account Verification: Register with Panda Remit using MyInfo for instant identity verification.
- Initiate Transfer: Enter the amount of SGD you wish to send. The system will display the locked-in MYR exchange rate.
- Select Recipient: Choose 'Bank Transfer' and enter the recipient's DuitNow ID or Malaysian bank account number.
- Fund via PayNow: Select PayNow as your payment method. Use your Singapore banking app to scan the QR code provided.
- Completion: Once the PayNow transaction is confirmed, funds are routed immediately to the Malaysian bank account, typically arriving within 2 minutes.
Frequently Asked Questions
What is the fastest way to remit money to Malaysia from Singapore?
The fastest method is using digital remittance platforms that support the DuitNow network. Panda Remit leverages this technology to deliver funds from Singapore to Malaysia in as little as 2 minutes.
How can I get the best exchange rate when sending SGD to MYR?
To secure the best rates, avoid traditional banks and opt for specialized fintech apps. Panda Remit offers competitive exchange rates close to the mid-market rate, often surpassing traditional bank rates significantly.
Is there a fee to remit money to Malaysia from Singapore?
Fees vary by provider. However, Panda Remit offers a highly competitive structure, including a special promotion where the first transfer is free ($0 handling fee) for new users in 2026.
