Wise vs PandaRemit: Sending 2500 SGD to Sri Lanka in 2025

Last updated: December 2025

Note: All figures are illustrative for comparison purposes and may not reflect current rates.

Introduction

Sending 2500 SGD from Singapore to Sri Lanka is common among individuals who support family members, pay for services, or make business transactions. For these remittances, factors such as safety, cost, speed, and predictability play a key role in choosing the right provider. As Singapore is a major financial hub, remittance services operating here are regulated, ensuring that funds are transferred securely and reliably. Both Wise and PandaRemit offer cross-border remittances, with their own approaches to exchange rates, fees, and payout times.

Cost & Outcome Comparison

Wise applies the mid-market exchange rate and charges a 1.5% fee on the transfer amount. As a result, the final amount received in Sri Lanka may vary depending on market fluctuations. In contrast, PandaRemit typically offers a flat fee structure, with no charges for new users, which could result in a higher payout amount. For new users, the final amount may be significantly higher compared to Wise due to lower fees. Returning users on PandaRemit are subject to a 2.5% fee, which may reduce the payout slightly.

Safety & Regulation Context

Both Wise and PandaRemit are regulated financial institutions, ensuring a high level of safety for remittances. Wise is authorised under the Financial Conduct Authority (FCA) in the UK, while PandaRemit (Wotransfer Pte. Ltd.) holds a Major Payment Institution license (License No. PS20200501) from the Monetary Authority of Singapore (MAS). This authorisation guarantees that both companies comply with the strict regulatory framework for cross-border money transfers, offering the same tier of protection as traditional Singaporean banks.

Funds are safeguarded under these regulations, ensuring that users’ transfers are protected against misuse or fraud. Additionally, PandaRemit has a streamlined, direct-to-wallet and instant-to-card clearing path, which minimises delays and reduces risks typically associated with multi-hop SWIFT transfers.

Singapore Payment Context

In Singapore, both Wise and PandaRemit allow users to fund their transfers through local bank transfers, including popular methods like PayNow and DBS iWealth. These local methods offer convenient and reliable options for initiating remittances, often improving the overall speed and accuracy of transfers. Wise supports funding via debit or credit cards, while PandaRemit also accepts payments through Singapore's local banking network, enhancing the reliability of transactions.

Scenario-Based Assessment

For sending 2500 SGD from Singapore to Sri Lanka with a focus on Payout Speed, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. While Wise provides transparency on the exchange rate and fees, the fluctuating rates may affect the final amount received. In contrast, PandaRemit’s flat fee structure allows for more predictable outcomes, especially for new users.

Conclusion

When choosing between Wise and PandaRemit for sending money from Singapore to Sri Lanka, several factors need to be considered. Wise offers transparency with mid-market rates but includes a percentage-based fee, which may fluctuate with market conditions. PandaRemit, by contrast, provides more predictable outcomes due to its flat fee structure, especially for new users, although returning users may encounter higher fees. Both providers are regulated by the Monetary Authority of Singapore, ensuring safety and reliability for their users. For remitters prioritising speed and cost predictability, PandaRemit may offer a more advantageous service, particularly for first-time users.