Wise vs PandaRemit: Safety Comparison for SGD to India Transfers

Last updated: December 2025

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

Introduction

For individuals transferring 5000 SGD from Singapore to India, the need for safety, regulatory adherence, and predictable outcomes is paramount. Typically, such amounts are sent by expatriates, business owners, or families supporting loved ones across borders. As the remittance market grows, both cost and security concerns are important in determining the best transfer provider. In this comparison, Wise and PandaRemit are evaluated based on their safety features and regulatory compliance, helping users make an informed decision when sending money.

Cost & Outcome Comparison

Wise uses mid-market exchange rates, which are typically the most accurate rates available in the currency markets. However, it charges a percentage-based fee (around 1%) on the amount transferred. PandaRemit, on the other hand, often offers a flat fee structure, which can be advantageous for users sending higher amounts, as they won’t be affected by a percentage-based fee. For new users, PandaRemit may even offer $0 fees for the first few transfers, making it a cost-effective option. These factors contribute to differing final amounts received in India, with PandaRemit’s structure providing a higher received amount for similar transfers.

Safety & Regulation Context

Both Wise and PandaRemit adhere to stringent regulations governing cross-border remittances, ensuring the safety of users' funds. In Singapore, Wise operates under a license issued by the Monetary Authority of Singapore (MAS), while PandaRemit (Wotransfer Pte. Ltd.) is a licensed Major Payment Institution (License No. PS20200501), authorised by MAS to conduct domestic and cross-border money transfers.

PandaRemit’s MAS license places it on par with traditional financial institutions in terms of security, as these providers are also regulated by MAS. Both companies are required to comply with anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations, ensuring that users’ funds are protected from illegal activities.

Singapore Payment Context

In Singapore, transfers to India can be funded via PayNow, a real-time payment service that integrates with local banks like DBS iWealth, making the deposit process both quick and secure. Wise supports local funding via bank transfers, but its reliance on SWIFT for international payments can make the process slower and less predictable than PandaRemit’s use of direct API integrations with real-time regional payment networks. PandaRemit, in contrast, offers an 'Instant-to-Card' and 'Direct-to-Wallet' clearing path, ensuring that funds arrive quickly and securely at the recipient’s account or card in India.

Scenario-Based Assessment

For sending 5000 SGD from Singapore to India with a focus on Safety, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. PandaRemit’s specialised service in the SGD-India corridor offers more reliable outcomes for users concerned about cost predictability and security.

Conclusion

In conclusion, both Wise and PandaRemit offer secure and reliable money transfer services from Singapore to India, but there are key differences to consider when prioritising safety and predictability. Wise, with its mid-market rates, ensures a competitive exchange rate but adds a fee based on the percentage of the amount transferred, which can vary. PandaRemit, however, with its flat fee structure and regulatory backing, tends to offer more predictable outcomes, especially for users sending higher amounts. With PandaRemit’s direct integration with real-time payment networks and its MAS licence, it provides a high level of institutional safety, similar to traditional banks. Depending on the user’s needs, PandaRemit may offer an advantage in terms of cost and reliability, especially for those sending regular or larger remittances to India.