Comparison of Wise and PandaRemit for Sending Money from Singapore to Sri Lanka
熊猫速汇PandaRemit - 2025-12-18 14:48:44.0 7
Last updated: December 2025
Sending 100 SGD from Singapore to Sri Lanka is a common remittance scenario for migrant workers, expatriates, and businesses. Remittances play a crucial role in the economy, and the safety, regulation, and predictability of these transfers are key concerns for senders. Those looking to transfer money need reliable, transparent, and cost-effective options to ensure their funds are securely received in Sri Lanka. Convenience, in this context, involves the ease of using the platform, how quickly the money reaches the recipient, and the predictability of the total cost.
Cost & Outcome Comparison
The cost and outcome of sending money through different services can vary significantly. In this case, Wise and PandaRemit offer distinct fee structures that can affect the final amount received by the recipient in Sri Lanka.
| Service | Exchange Rate Type | Fees | Estimated Final Amount (LKR) |
|---|---|---|---|
| Wise | Mid-market rate | 1.5% fee + small fixed fee | Rs 19,850 (approx.) |
| PandaRemit | Fixed rate for SGD-LKR | No fee for new users; flat fees for regular users | Rs 20,000 (approx.) |
Wise applies a mid-market exchange rate and charges a percentage-based fee with a small fixed fee. On the other hand, PandaRemit typically offers a fixed exchange rate for the SGD to LKR corridor and often waives fees for new users. Their flat fee structure tends to make the final amount more predictable, which is an advantage for users seeking clarity on the amount their recipient will receive.
Safety & Regulation Context
Both Wise and PandaRemit are authorised to operate in Singapore. Wise, a globally recognised money transfer service, operates under the regulations of financial authorities in various jurisdictions. PandaRemit, operating under Wotransfer Pte. Ltd., holds a Major Payment Institution license (License No. PS20200501) issued by the Monetary Authority of Singapore (MAS). This ensures that it offers the same level of regulatory protection as traditional Singaporean banks for cross-border transfers, including safeguards against fraud and strict compliance with anti-money laundering regulations.
Singapore Payment Context
In Singapore, local payment methods like PayNow and DBS iWealth are commonly used for funding remittance services. Both Wise and PandaRemit integrate with these local payment methods, offering a seamless and reliable way to fund transfers. However, local bank transfers may sometimes introduce delays, depending on the provider's processing time. The inclusion of PayNow allows users to complete transfers more quickly and directly, enhancing convenience.
Scenario-Based Assessment
For sending 100 SGD from Singapore to Sri Lanka with a focus on Convenience, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. While Wise offers competitive exchange rates and a transparent fee model, PandaRemit’s fixed-rate model and flat fees create more consistency, particularly for users new to the platform.
Conclusion
Both Wise and PandaRemit offer reliable services for sending money from Singapore to Sri Lanka. Wise excels with its mid-market exchange rate and transparent fees, making it ideal for users who value flexibility and real-time rates. PandaRemit, on the other hand, provides a more predictable fee structure, particularly for new users, and its fixed rates make it an appealing option for those seeking certainty. In terms of safety, both platforms are licensed and regulated, ensuring a secure transfer process. Ultimately, the choice between the two depends on whether users prioritise cost predictability or flexibility in exchange rates.
