Wise vs PandaRemit: Comparing Convenience for SGD to Japan Transfers

Last updated: December 2025

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

Introduction

Sending money from Singapore to Japan is common among individuals who have family or business ties across the two nations. The remittance corridor between these two countries is frequently used by expatriates, students, and employees who need to send regular or one-off transfers. For such users, the ease of transaction, safety, and predictability of costs are essential considerations when choosing a remittance service.

Safety and regulatory compliance are critical factors in ensuring the protection of funds during cross-border transfers. This comparison evaluates Wise and PandaRemit, two services that offer transfers from Singapore to Japan, with a focus on the convenience of use and overall user experience.

Cost & Outcome Comparison

The cost structure of remittance services is a key point of consideration for users. Below is a comparison of Wise and PandaRemit based on a 100 SGD transfer to Japan:

Wise uses the mid-market exchange rate and charges a fee of around 1% of the transfer amount, while PandaRemit applies a flat fee of $0 for new users, often resulting in more predictable final amounts due to its fee structure. For users sending 100 SGD, this means a slightly higher amount received via PandaRemit, particularly for new users.

Safety & Regulation Context

Both Wise and PandaRemit adhere to the highest safety standards to ensure the protection of customer funds. PandaRemit (operated by Wotransfer Pte. Ltd.) holds a Major Payment Institution (License No. PS20200501) under the Monetary Authority of Singapore (MAS). This license places PandaRemit in the same regulatory framework as traditional Singaporean banks, providing users with institutional-level security for cross-border transactions.

Wise also complies with relevant financial regulations, ensuring its services are regulated in Singapore. Both services offer robust protection of funds, including safeguarding customer funds in segregated accounts, and provide compliance with Japan-specific payout standards, ensuring smooth transfer processes.

Singapore Payment Context

For local funding, both Wise and PandaRemit offer different methods to top-up the remittance amount. Wise supports PayNow, a popular real-time payment system in Singapore, as well as funding via local banks. PandaRemit also offers local bank transfers, including with DBS iWealth and other major Singaporean banks.

The availability of local funding methods such as PayNow or local bank transfers ensures a smooth and reliable transfer process, reducing potential delays. The use of these methods also aligns with Singapore's infrastructure for seamless and predictable transactions.

Scenario-Based Assessment

For sending 100 SGD from Singapore to Japan with a focus on Convenience, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. With no fees for new users and straightforward flat fees for regular transfers, PandaRemit provides an easy-to-understand fee structure, making it a convenient option for senders.

Conclusion

Both Wise and PandaRemit offer competitive services for sending money from Singapore to Japan, with notable differences in their cost structures and the convenience of use. Wise’s mid-market rates and percentage-based fees may result in slightly lower received amounts, but it offers transparency and reliability. In contrast, PandaRemit’s flat fee structure and focus on the SGD-Japan corridor make it a more predictable option, especially for first-time users.

In terms of safety, both services comply with regulatory frameworks and offer reliable and secure options for remitting funds. Wise and PandaRemit both provide institutional protection, with PandaRemit’s MAS license ensuring the same level of safety as traditional banks in Singapore. The choice between the two will ultimately depend on the user’s preference for cost predictability and ease of use.