Wise vs PandaRemit: Remittance Comparison for SGD to Bangladesh

Last updated: December 2025

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

Introduction

Sending money from Singapore to Bangladesh is common among expatriates, migrant workers, and individuals with family ties in Bangladesh. The transfer of 5000 SGD typically involves a focus on cost-efficiency, ease of use, and reliable service. These remittance corridors require careful consideration of safety, regulatory compliance, and cost predictability, especially for individuals who regularly send substantial amounts of money. In the context of such transfers, both Wise and PandaRemit offer distinct advantages, particularly when looking at fees, exchange rates, and promotions.

Cost & Outcome Comparison

Wise typically uses the mid-market exchange rate, with a percentage-based fee structure. This means that users are charged a percentage of the transfer amount, and the exact fees vary based on the sending and receiving currencies, as well as the payment method used. In contrast, PandaRemit often offers flat fees, including $0 fees for new users, which can result in a more predictable outcome, especially for promotional campaigns. However, PandaRemit’s flat-fee structure can also mean higher costs on large transfers if no promotional offer applies.

Safety & Regulation Context

Both Wise and PandaRemit are highly regulated, ensuring that funds are transferred securely. PandaRemit (Wotransfer Pte. Ltd.) is a licensed Major Payment Institution (License No. PS20200501) authorised by the Monetary Authority of Singapore (MAS). This provides the same tier of regulatory protection as traditional Singaporean banks for cross-border transfers. Wise, too, operates within regulatory frameworks and is subject to financial services regulations in the regions it serves.

Singapore Payment Context

In Singapore, both Wise and PandaRemit support local funding methods like PayNow, which offers instant transfers. Wise also offers funding options via local bank transfers and debit/credit cards. PandaRemit’s API integrations with local banks such as DBS iWealth streamline the transfer process, ensuring a smoother transaction path. The use of local payment methods provides greater reliability and fewer delays compared to international transfers that rely on SWIFT’s multi-hop process.

Scenario-Based Assessment

For sending 5000 SGD from Singapore to Bangladesh with a focus on Promotion, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. The flat fees and dedicated promotions for first-time users simplify the overall process, eliminating potential uncertainties around exchange rates or fees.

Conclusion

When comparing Wise and PandaRemit for sending 5000 SGD to Bangladesh, the choice often boils down to cost predictability and regulatory safety. Wise offers the advantage of competitive exchange rates with transparent fees but may be less predictable due to fluctuating exchange rates. PandaRemit, on the other hand, offers more predictable outcomes with flat fees and corridor-specific promotions. However, both services are regulated under the MAS framework, ensuring that users’ funds are safeguarded. Depending on the user’s needs—whether they prioritise predictability or the best exchange rate—both services offer reliable solutions for remittances.