MoneyGram vs. Panda Remit: Which Is the Best Money Transfer Service in 2025?

What Is MoneyGram?

MoneyGram is one of the world's largest money transfer services, operating in over 200 countries and territories. Founded in 1940, it offers a variety of ways to send money, including online, via mobile app, or in person at agent locations.

🔹 Key Features

• Global Reach: Available in over 200 countries and territories.

• Multiple Delivery Options: Send money to bank accounts, cash pickup locations, or mobile wallets.

• Payment Flexibility: Supports debit/credit cards, bank transfers, and cash payments.

• Security: Complies with international financial regulations and anti-money laundering policies. 

🔹 Fees and Exchange Rates

MoneyGram's fees vary depending on the amount, destination, and payment method. Users often pay:

• Transfer Fees: Can range from a few dollars to higher percentages of the transfer amount.

• Exchange Rate Markups: Typically adds a margin on top of the mid-market exchange rate, which increases the total cost.

While MoneyGram is reliable, the overall cost can be higher than newer fintech alternatives for cross-border remittances.

🐼 What Is Panda Remit?

Panda Remit is a digital-first money transfer platform founded in 2018 and headquartered in Singapore. It focuses on providing low-cost, fast, and transparent international money transfers.

🔹 Key Features

• Global Coverage: Supports transfers to over 40 countries, including China, the U.S., Singapore, and more.

• Low, Fixed Fees: Transparent pricing with no hidden charges.

• Fast Transfers: Most transfers are completed within minutes.

• Real-Time Exchange Rates: Offers competitive exchange rates with minimal markups.

• 24/7 Multilingual Support: Provides customer service in multiple languages. 

🔹 How It Works

1. Sign Up: Create an account on the Panda Remit website or mobile app.

2. Verify Identity: Complete the KYC (Know Your Customer) process.

3. Add Recipient: Enter the recipient's details.

4. Choose Payment Method: Select from available payment options.

5. Send Money: Confirm and complete the transaction.

🔍 MoneyGram vs. Panda Remit: A Comparison

✅ Conclusion

For users seeking a reliable, global network with various payment options, MoneyGram is a solid choice. However, if you prioritize low fees, fast transfers, and transparent exchange rates, Panda Remit offers a compelling alternative.