How to Handle Standard Chartered PayNow Transfer Limits for Salary Payment to the Philippines
熊猫速汇PandaRemit - 2025-12-18 20:58:19.0 10
Standard Chartered’s PayNow service in Singapore sets a default daily transfer cap of about S$1,000 to S$5,000, depending on your digital banking settings. When attempting to send larger amounts—say around S$6,200 for monthly salary payments—users often encounter system restrictions or multi-day verification holds. This can cause frustrating delays, especially when funds are needed urgently in the Philippines.
Standard Chartered PayNow vs. PandaRemit
| Feature | Standard Chartered PayNow | PandaRemit |
|---|---|---|
| Daily Limit | Up to S$5,000 (default, adjustable via app) | Flexible, based on verification and compliance |
| Speed | Instant for local SG transfers | Same-day or next-day for Philippines |
| Cross-border Capability | Local only | Yes, optimized for international transfers |
| Complexity | Requires token setup and manual limit adjustment | Digital onboarding, auto FX calculation |
Understanding the Limitation
PayNow is designed for local peer-to-peer transactions within Singapore, not cross-border remittances. Standard Chartered enforces a daily cumulative limit to protect against unauthorized access. Increasing this cap often requires hardware token approval or branch-level verification. For those sending monthly salaries or business payments abroad, these steps can slow down operations significantly.
In contrast, salary disbursements to the Philippines typically need a more specialized cross-border rail that accommodates higher-value transfers and provides foreign exchange efficiency. This is where dedicated remittance platforms come into play.
The PandaRemit Solution
PandaRemit operates under the regulatory oversight of the Monetary Authority of Singapore (MAS), ensuring that all transactions comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) standards. Transfer limits are not fixed at a preset low value; instead, they depend on your verification tier, destination country, and compliance review. For higher-value salary payments, users may be asked to provide supporting documentation to meet MAS guidelines.
Beyond compliance, PandaRemit offers competitive exchange rates for SGD to PHP conversions, digital 24/7 processing, and faster crediting times compared to traditional banking rails. By using PandaRemit, you effectively avoid the Standard Chartered PayNow transfer bottleneck while remaining fully compliant with Singapore’s financial regulations.
FAQ
Is PandaRemit safe for sending large amounts for salary payment?
Yes. PandaRemit is regulated by the Monetary Authority of Singapore and adheres to AML/KYC compliance. It uses bank-grade encryption and verification layers to ensure fund safety for both sender and receiver.
How to increase Standard Chartered PayNow limit for one-time salary payment?
You can adjust the PayNow limit through the Standard Chartered mobile app under transfer settings. However, raising it above the default may require authentication with a hardware token or additional verification through customer support.
Time difference between Standard Chartered and PandaRemit for Philippines transfers
PayNow transfers are instant within Singapore but cannot directly send funds to the Philippines. PandaRemit, on the other hand, can deliver funds typically within minutes to a few hours depending on the receiving bank’s processing time, making it more efficient for cross-border salary payments.
