Sending money from India to Singapore? Look no further than the UPI-PayNow link for fast, safe, and affordable transfers.
The cross-border linkage between the Unified Payments Interface (UPI) and PayNow enables Indians to receive instant, secure, and cost-effective remittances from the Singapore-based Indian diaspora directly into their bank accounts. Users of BHIM, PhonePe, and Paytm apps can access this facility. Additionally, banks such as Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India provide this functionality through their respective apps.
More third-party application providers (TPAPs) and bank apps such as Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Federal Bank, HDFC Bank, IDFC First Bank, IndusInd Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, and UCO Bank are expected to be added to the linkage soon. This expansion will broaden the range of choices offered to customers.
The participating banks will determine the exchange rate used for initiating the transfer. You can see the applicable rate upfront before submitting the remittance.
