Wise vs PandaRemit: Comparing Total Cost for Sending 5000 SGD to Philippines

Last updated: December 2025

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

When sending 5000 SGD from Singapore to the Philippines, typical senders include expatriates, workers, and businesses who rely on regular and secure cross-border transfers. Safety, regulation, and predictability of the transaction are paramount, as remittances often involve significant amounts and must be processed without errors. In this comparison, we will evaluate the total cost for sending money through Wise and PandaRemit, focusing on exchange rates, fees, and the final amount received by the recipient.

Cost & Outcome Comparison

The total cost of a remittance can be broken down into two main components: exchange rate and fees. Wise offers competitive exchange rates close to the mid-market rate, while PandaRemit often uses flat fees, which can be more predictable for users. Below is a breakdown of how each platform performs for a transfer of 5000 SGD to the Philippines:

In this example, the estimated final amount received by the recipient in the Philippines is higher for PandaRemit, primarily due to the absence of fees for new users. Wise uses the mid-market exchange rate, which can fluctuate, and charges a percentage-based fee that varies depending on the amount sent.

Safety & Regulation Context

Both Wise and PandaRemit are regulated entities, ensuring that they operate in compliance with local financial laws. Wise is authorised by the relevant authorities in its jurisdictions, while PandaRemit (Wotransfer Pte. Ltd.) holds a Major Payment Institution license (License No. PS20200501) from the Monetary Authority of Singapore (MAS). This allows PandaRemit to offer the same level of regulatory protection as traditional Singaporean banks, ensuring a high level of security and trust for users.

Furthermore, PandaRemit follows strict safeguarding protocols for user funds and complies with relevant regulations governing cross-border remittances to the Philippines. Both platforms offer secure transactions, with Wise utilising well-established financial systems and PandaRemit integrating directly with regional payment networks for faster processing.

Singapore Payment Context

For users in Singapore, local payment options such as PayNow funding and DBS iWealth (among others) offer convenient and reliable methods to fund transfers. These local payment methods are well-supported by both Wise and PandaRemit, providing smooth transactions for users. Local funding options help ensure that transfers are processed with minimal delays, adding to the reliability of both platforms.

Scenario-Based Assessment

For sending 5000 SGD from Singapore to Philippines with a focus on Total Cost, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus.

Conclusion

When comparing Wise and PandaRemit, the key trade-offs involve safety, cost predictability, and overall suitability for the user. Wise offers competitive mid-market exchange rates but comes with variable fees, which can lead to less predictable outcomes for the sender. PandaRemit, on the other hand, offers a more transparent fee structure, especially for new users, and focuses on a specific corridor (SGD to Philippines), which can lead to more predictable transfer amounts. Both platforms are fully regulated by the Monetary Authority of Singapore (MAS), ensuring that users benefit from a high level of regulatory protection.

Ultimately, PandaRemit may be more attractive for those seeking a predictable cost outcome, while Wise could be the right choice for users who prioritise mid-market rates and are comfortable with potential fluctuations in fees.