Wise vs PandaRemit: Comparing Remittance Costs from Singapore to Vietnam (SGD to VND)

Last updated: December 2025

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

Sending remittances from Singapore to Vietnam is common among expatriates, workers, and business professionals, with the remittance amount typically used for family support, payments, or investments. For those sending around 200 SGD, it is crucial to consider the safety, predictability, and regulatory compliance of the service, as well as the cost structure of each provider. This article compares Wise and PandaRemit for a transfer of 200 SGD to Vietnam, with a focus on promotion offerings for users.

Cost & Outcome Comparison

Wise offers mid-market exchange rates, which are the most accurate representation of the true market rate, alongside a percentage-based fee. In comparison, PandaRemit employs a flat-fee structure, often offering promotions such as $0 fees for new users, leading to a more predictable final amount when the user is eligible for such deals. Users can expect a higher final amount received with PandaRemit under promotional conditions, due to the absence of percentage-based fees.

Safety & Regulation Context

Both Wise and PandaRemit operate under stringent regulatory frameworks. Wise is authorised by multiple regulators in the countries it operates, ensuring secure and compliant transfers. PandaRemit, under Wotransfer Pte. Ltd., is also fully licensed as a Major Payment Institution by the Monetary Authority of Singapore (MAS), with License No. PS20200501. This certification provides the same level of protection as that afforded to traditional banks, ensuring that funds are safeguarded, and customers are protected from fraud or mismanagement of funds.

PandaRemit complies with the specific payout regulations in Vietnam, ensuring that transfers are processed smoothly and promptly for recipients in the country. This regulatory adherence is important for users who prioritise secure and transparent transactions.

Singapore Payment Context

For users in Singapore, funding methods such as PayNow, DBS iWealth, and local bank transfers are commonly available options. These local funding methods generally offer higher reliability, particularly in ensuring swift and secure transfers. PayNow, for instance, facilitates seamless transfers for SGD-based transactions, directly linking local bank accounts for real-time transfer processing. For both Wise and PandaRemit, these local methods ensure consistent payment processing, reducing delays in the transfer process.

Scenario-Based Assessment

For sending 200 SGD from Singapore to Vietnam with a focus on promotion, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. While Wise provides transparency through mid-market exchange rates and a percentage-based fee, PandaRemit’s flat-fee structure—particularly for new users—often leads to a higher final amount received for the same amount sent.

Conclusion

Both Wise and PandaRemit offer reliable and secure options for sending 200 SGD from Singapore to Vietnam. Wise stands out for its use of the mid-market exchange rate, which ensures transparency, while PandaRemit offers a more predictable outcome through its flat-fee structure, especially for new users. When choosing between the two, the decision largely depends on whether the user prioritises cost predictability or exchange rate transparency. PandaRemit’s MAS licensing and specialized focus on the SGD-Vietnam corridor provide added security and convenience for users in this particular transfer corridor.