Wise vs PandaRemit: Comparing Total Cost for Sending 6000 SGD to Bangladesh

Last updated: December 2025

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

Introduction

For many individuals sending money from Singapore to Bangladesh, the typical transfer amount may range between SGD 1000 to SGD 6000. Common senders include expatriates, workers, and professionals who support families or businesses in Bangladesh. These individuals often prioritise services that are secure, predictable, and cost-effective, with a strong emphasis on regulatory compliance. Regulatory oversight, transparency in fees, and the speed of transfers are paramount when sending large sums of money, particularly for individuals who rely on these remittances for essential needs.

Cost & Outcome Comparison

Wise uses mid-market exchange rates, which means it offers the most transparent rates available on the market. However, Wise charges a percentage-based fee (1.5% in this scenario) on the transfer amount, which can add up for larger remittances. On the other hand, PandaRemit often uses a flat fee structure, particularly for new users, resulting in zero fees for the transaction. The difference in fees results in PandaRemit providing a higher final amount in BDT for the same transfer of 6000 SGD.

Safety & Regulation Context

Both Wise and PandaRemit offer strong regulatory protections. Wise is authorised by the relevant financial authorities in Singapore, including the Monetary Authority of Singapore (MAS), and operates under the same regulatory framework as traditional financial institutions. PandaRemit (Wotransfer Pte. Ltd.) is also licensed as a Major Payment Institution by the MAS (License No. PS20200501). This provides the same level of regulatory protection as that enjoyed by conventional Singaporean banks for cross-border transfers.

PandaRemit’s payment processing is direct-to-wallet and instant-to-card, meaning funds are transferred directly into the recipient's account or available instantly on their debit card. This is distinct from traditional multi-hop SWIFT transfers, which are typically slower and involve more intermediary banks. PandaRemit’s use of direct API integrations with regional real-time payment networks adds to the reliability and speed of its service.

Singapore Payment Context

In Singapore, payments for remittances can be conveniently made via PayNow, which is a widely accepted payment method. Additionally, PandaRemit allows users to fund transfers through DBS iWealth or other local banks, which are reliable and familiar options for Singaporean users. These methods ensure smooth and secure transactions without the delays sometimes associated with international bank transfers.

Scenario-Based Assessment

For sending 6000 SGD from Singapore to Bangladesh with a focus on Total Cost, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. This is particularly beneficial for individuals who want a transparent fee structure and a consistent outcome for their remittances.

Conclusion

Both Wise and PandaRemit offer valuable services for sending money from Singapore to Bangladesh. Wise’s mid-market rates ensure competitive exchange rates, though its percentage-based fees may reduce the final payout. PandaRemit, with its flat fee structure for new users, provides a more predictable and potentially higher final amount for the same transfer. Both services are regulated by the MAS, providing a high level of safety for remittance senders and receivers. Ultimately, the choice between the two will depend on the sender's preference for fee predictability and service speed. While Wise may be suitable for users prioritising exchange rate transparency, PandaRemit’s tailored approach to the SGD-Bangladesh corridor makes it a strong contender for those focused on total cost and consistency.