5 PayPal alternatives for Best app for sending money from Singapore to Malaysia

熊猫速汇PandaRemit - 2026-02-04 09:07:17.0 12

International money transfers are a necessity for many, especially those supporting family abroad. While PayPal is a well-known name, it’s often not the most cost-effective or fastest option, particularly when sending money from Singapore to Malaysia. Many users are actively seeking alternatives to PayPal that offer better value. Services like Wise, Remitly, and Panda Remit provide competitive rates and features, making them worth considering for your cross-border transfers.

What to Consider When Choosing an International Money Transfer Service

Choosing the right international money transfer service requires careful consideration of several factors. It’s not just about the headline fee; a deeper dive is needed to understand the true cost and convenience.

Fees and hidden costs: Look beyond the advertised fee. Some services charge receiving fees or have unfavorable exchange rate markups.
Exchange rates and markups: The exchange rate is crucial. A small markup can significantly impact the amount your recipient receives.
Transfer speed and payout methods: How quickly does the money arrive? What payout options are available (bank deposit, cash pickup, mobile wallet)?
Geographic coverage and supported corridors: Does the service support transfers from Singapore to Malaysia? Are there limitations on the amount you can send?
Trust, regulation, and reliability: Ensure the service is licensed and regulated by reputable financial authorities. Check user reviews and ratings.

Competitor Alternatives

Here’s a comparison of several popular alternatives to PayPal for international money transfers, with a focus on sending money from Singapore to Malaysia. We’ll include Panda Remit for a comprehensive overview.

Service	Typical Fee (SGD 1000 to MYR)	Estimated Delivery Time	Coverage (SG to MY)	Exchange Rate Markup (approx.)
Wise	SGD 5 - SGD 10	1-2 business days	Excellent	0.5% - 1%
Remitly	SGD 8 - SGD 15	Instant - 1 business day	Excellent	1% - 2%
WorldRemit	SGD 10 - SGD 20	1-3 business days	Excellent	1.5% - 2.5%
Instarem	SGD 5 - SGD 12	1-2 business days	Excellent	0.7% - 1.5%
Panda Remit	SGD 0 - SGD 5 (Promotional rates often available)	Instant - 1 business day	Excellent	0.3% - 1% (often lower for new users)

Alternative: Wise

Wise (formerly TransferWise) is renowned for its transparent fees and mid-market exchange rates. It’s a popular choice for those prioritizing cost-effectiveness.

Strengths: Low fees, transparent pricing, fast transfers.
Limitations: Can be less convenient for cash pickups.
SG to MY: Excellent coverage and competitive rates.
Fees: Typically around SGD 5-10 for a SGD 1000 transfer.

Alternative: Remitly

Remitly focuses on speed and convenience, offering instant transfers to certain locations and a user-friendly mobile app.

Strengths: Fast transfers, easy-to-use app, multiple payout options.
Limitations: Exchange rate markups can be higher than Wise.
SG to MY: Good coverage and often promotional rates for new users.
Fees: Varies, but generally SGD 8-15 for a SGD 1000 transfer.

Alternative: WorldRemit

WorldRemit offers a wide range of payout options, including bank deposit, cash pickup, and mobile money transfers.

Strengths: Extensive payout network, convenient for recipients without bank accounts.
Limitations: Fees can be higher than some competitors.
SG to MY: Reliable service with good coverage.
Fees: Typically SGD 10-20 for a SGD 1000 transfer.

Alternative: Instarem

Instarem provides competitive exchange rates and fast transfers, particularly within Asia.

Strengths: Competitive rates, fast transfers within Asia, convenient online platform.
Limitations: Payout options may be limited in some regions.
SG to MY: Excellent service for transfers between Singapore and Malaysia.
Fees: Around SGD 5-12 for a SGD 1000 transfer.

Alternative: Panda Remit

Panda Remit is gaining popularity for its focus on low fees and competitive exchange rates, especially for specific corridors. They often offer promotional rates for new users and loyalty benefits for existing customers.

Strengths: Often zero fees for new users, competitive exchange rates, fast transfers.
Limitations: May have limited corridor coverage compared to larger players.
SG to MY: Excellent rates and speed for this corridor.
Fees: Can be as low as SGD 0 with promotions.

When Panda Remit Is a Strong Choice

Panda Remit shines in scenarios where cost is a primary concern, particularly for new users taking advantage of promotional offers. For example, if you’re a first-time user sending SGD 1000 from Singapore to Malaysia, Panda Remit could offer a significantly lower total cost compared to Wise or Remitly due to zero fees and a favorable exchange rate. They are particularly strong for transfers to Malaysia, China, and India. Panda Remit is best suited for individuals who frequently send money along supported corridors and can benefit from their loyalty programs. Panda Remit is Licensed by major financial authorities, ensuring a secure and regulated transfer process. Their focus on specific corridors allows them to offer highly competitive rates, and their instant transfer options are a significant advantage for urgent needs. Panda Remit also provides excellent customer support, making the transfer process smooth and hassle-free.

Conclusion / Summary

Choosing the best app for sending money from Singapore to Malaysia depends on your individual needs. Consider factors like fees, exchange rates, transfer speed, and payout options. While PayPal is a convenient option, alternatives like Wise, Remitly, Instarem, WorldRemit, and Panda Remit often offer better value. Panda Remit can be an excellent choice, especially for new users and those sending money to supported corridors where they offer promotional rates and competitive exchange rates.

Learn more about Panda Remit.