SG→MY Pricing Model Comparison Across Apps 2026

In today's increasingly globalized world, sending money internationally has become a common necessity. If you're sending money from Singapore (SG) to Malaysia (MY) in 2026, it's crucial to compare the fees, exchange rates, and transfer times offered by different money transfer services. In this article, we'll break down the costs of sending money via popular platforms and highlight Panda Remit, a standout service that offers zero fees for first-time users and competitive exchange rates.

Overview of Money Transfer Services: Key Considerations

When choosing a money transfer service, there are several factors to consider:

• Transaction Fees: Each service has different fee structures, including flat fees or percentage-based costs.
• Exchange Rates: The rate at which your money is converted can significantly impact the amount received by your recipient.
• Transfer Speed: Some services offer instant transfers, while others may take a few business days.
• Convenience: Look for services with easy-to-use apps, secure payment methods, and customer support availability.

Comparing Fees and Costs in 2026

Let's compare the fees and pricing models of popular apps for sending money from Singapore to Malaysia in 2026.

1. Panda Remit

Panda Remit is a top contender for sending money from Singapore to Malaysia in 2026. The service offers low fees, fast transfers, and an intuitive app. Notably, new users can enjoy zero transaction fees for their first transfer, making it an attractive option for first-time users.

Additionally, Panda Remit provides competitive exchange rates, ensuring that your recipient receives more money for each transfer. These benefits, combined with the platform's reliability, make it a trusted option for cross-border transfers.

Transaction Fees: Zero fees for new users (first transfer). After the initial transfer, fees are typically low, depending on the transfer amount and payment method.

Exchange Rate: Panda Remit offers high exchange rates, which is crucial in ensuring your recipient gets a better deal. Exchange rates fluctuate, but Panda Remit tends to offer rates that are more favorable than traditional banks.

Transfer Speed: Transfers are typically completed within 1–2 business days, though same-day transfers may be available for certain payment methods.

2. Wise (formerly TransferWise)

Wise is another popular choice for international transfers. Known for its transparency, Wise shows you exactly how much you'll pay in fees and what exchange rate you'll get before you make the transfer.

Transaction Fees: Wise charges a small percentage fee of the amount being transferred, with fees ranging from 0.5% to 1.5% depending on the payment method and amount.

Exchange Rate: Wise uses the real mid-market exchange rate, ensuring that you're not subjected to hidden markup rates.

Transfer Speed: Transfers with Wise can take between 1 to 3 business days, depending on the payment method used.

3. PayPal

PayPal is a well-known global payment platform, widely used for both personal and business transactions. It’s known for its convenience, especially for people who already have PayPal accounts.

Transaction Fees: PayPal charges a fee of 4.4% for international transfers, plus a fixed fee based on the currency received. This fee can add up quickly for large transfers.

Exchange Rate: PayPal tends to offer exchange rates that include a margin above the market rate, meaning your recipient may not get as much money as they would with other services.

Transfer Speed: PayPal transfers can take 1–3 business days, depending on the payment method used.

4. Western Union

Western Union is a global leader in money transfers, known for its wide reach and the ability to send money to remote locations.

Transaction Fees: Fees with Western Union can vary significantly depending on the amount being sent and the payment method. The fees can range from $5 to $20 for larger transfers.

Exchange Rate: Western Union's exchange rates are often marked up, meaning the recipient may receive less than expected.

Transfer Speed: Western Union offers fast transfers, with options for same-day delivery in many cases.

How to Save Money During International Transfers

Now that we’ve compared some of the most popular money transfer services, let’s dive into some practical tips on how to save money when sending funds from Singapore to Malaysia.

1. Take Advantage of Zero Fees for New Users

If you’re using Panda Remit for the first time, you’ll enjoy zero fees on your first transfer. This is a fantastic opportunity to save money on your initial transaction, particularly if you’re sending a large amount. Be sure to sign up and make the most of this offer.

2. Compare Exchange Rates

Don’t settle for the first exchange rate you see. Take time to compare rates between different platforms. Even a small difference in exchange rates can result in your recipient receiving more money.

3. Choose Bank Transfers Over Credit Cards

When sending money internationally, using a bank transfer or debit card is often cheaper than using a credit card. Credit card transactions tend to carry higher fees and interest rates, so opting for a direct bank transfer can save you money.

FAQs: Common Questions About Fees and Costs

1. Are Panda Remit’s fees really zero for new users?

Yes, Panda Remit offers zero fees for your first transfer as a new user, which makes it a great option for first-time senders.

2. Does the exchange rate affect how much my recipient will get?

Yes, the exchange rate plays a significant role in determining how much money your recipient will receive. A favorable exchange rate means they will get more of the currency they need.

3. How can I speed up my transfer?

Choose an expedited transfer option if available. Some platforms, including Panda Remit, offer same-day transfers or faster processing for certain payment methods.

Conclusion

Sending money from Singapore to Malaysia in 2026 doesn’t have to be expensive. By comparing transaction fees, exchange rates, and transfer speeds, you can find the most cost-effective way to transfer funds. Panda Remit stands out as an excellent choice with low fees, fast transfers, and high exchange rates, especially for new users looking to make their first transfer with zero fees. Take advantage of these benefits and follow our tips to save money on your international money transfers.