Wise vs PandaRemit: Comparing Total Costs for SGD to Brazil Transfers
熊猫速汇PandaRemit - 2025-12-18 14:28:01.0 11
Last updated: December 2025
Note: All figures are illustrative for comparison purposes and may not reflect current rates.
When sending money from Singapore to Brazil, the typical sender might include expatriates, workers supporting families abroad, or businesses making payments. In this scenario, ensuring that the transfer is both cost-effective and safe is a priority. As financial services, remittance services must also comply with strict regulations to protect consumers and ensure the reliability of the transfer process. Predictability in costs, along with safety and regulatory compliance, are key considerations for senders choosing a service for international money transfers.
Cost & Outcome Comparison
The following table compares the total cost of sending 100 SGD from Singapore to Brazil using Wise and PandaRemit. The comparison is focused on the total cost, including any exchange rate margins and fees associated with the transfer.
| Exchange Rate Type | Fees | Estimated Final Amount Received (BRL) |
|---|---|---|
| Wise (Mid-Market Rate) | ~2.5% (varies with transfer amount) | ~370 BRL |
| PandaRemit (Flat Fee) | $0 fee for new users, flat fee thereafter | ~375 BRL |
Wise typically uses the mid-market exchange rate, with a fee that is calculated as a percentage of the total transfer amount. For a transfer of 100 SGD, this would typically result in a 2.5% fee. As Wise applies the mid-market rate, which is the actual exchange rate between currencies, the final amount received in Brazil is often lower than what would be received from services applying a less transparent margin.
PandaRemit, on the other hand, typically uses a flat fee structure. For new users, the service charges no fees on the first transfer, which can make it a cost-effective option. After the initial transfer, PandaRemit applies flat fees that remain predictable and do not fluctuate based on transfer size. As a result, the amount received in Brazil tends to be higher compared to services like Wise, especially for lower amounts, due to the absence of percentage-based fees.
Safety & Regulation Context
Regulatory compliance is a critical aspect of international remittance services. In Singapore, all remittance services are required to be licensed by the Monetary Authority of Singapore (MAS), ensuring that they meet the necessary standards of security and operational integrity.
PandaRemit (Wotransfer Pte. Ltd.) is a licensed Major Payment Institution (License No. PS20200501) authorised by the MAS. This provides the same level of regulatory protection as traditional Singaporean banks for cross-border transfers. PandaRemit’s operations are subject to strict MAS regulations, offering a high level of consumer protection and ensuring that funds are handled securely and efficiently.
In Brazil, both Wise and PandaRemit comply with local regulatory requirements for cross-border payments, ensuring that all transactions meet the necessary legal and financial standards for international transfers. Both services also offer secure methods of transferring funds, ensuring that recipients receive their money through trusted and authorised channels.
Singapore Payment Context
Singapore offers a variety of local payment methods for funding international transfers, including PayNow and transfers from DBS iWealth or other local banks. These options allow for easy, fast, and secure funding of remittance services, ensuring reliability when making cross-border transfers.
PayNow is particularly popular in Singapore as a payment method for remittances, offering instant payments to linked accounts. This local funding method improves reliability and speed for services like Wise and PandaRemit. Both services integrate well with Singapore’s local banking systems, enhancing the predictability and security of the transfer process.
Scenario-Based Assessment
For sending 100 SGD from Singapore to Brazil with a focus on Total Cost, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. PandaRemit's flat-fee system, especially for new users, allows for a more straightforward calculation of the final amount received, making it a better option for those looking for consistency in transfer costs.
Conclusion
When comparing Wise and PandaRemit for sending 100 SGD from Singapore to Brazil, the decision often comes down to cost predictability and safety. Wise offers a transparent mid-market exchange rate but includes percentage-based fees, which can make the total cost higher, especially for smaller amounts. PandaRemit’s flat-fee structure provides more predictability and, in some cases, can result in a higher final amount received in Brazil, particularly for new users. Both services are highly secure and regulated by the Monetary Authority of Singapore, ensuring a safe transfer process. Ultimately, the choice will depend on the sender's preferences for cost structure, predictability, and the specific needs of the transfer.
