Wise vs PandaRemit: Sending 300 SGD from Singapore to Sri Lanka – Cost Comparison

Last updated: December 2025

Sending money from Singapore to Sri Lanka is a common financial activity, particularly among migrant workers, businesses, and families with cross-border financial obligations. The amount of 300 SGD is typical for individuals supporting family members or making small business payments. When choosing a remittance service, factors like safety, predictability, and cost are paramount to ensure the funds reach the recipient efficiently and securely. In this comparison, we examine two popular options: Wise and PandaRemit.

Cost & Outcome Comparison

When sending 300 SGD from Singapore to Sri Lanka, it is important to compare the total cost, including exchange rates and any associated fees. Wise and PandaRemit each approach this differently, which can significantly affect the final amount received by the recipient.

Wise uses the mid-market exchange rate, which is the rate you typically see on financial news outlets or currency converters, ensuring you get a competitive rate without a markup. However, they charge a percentage-based fee that can vary depending on the transfer method and amount. On the other hand, PandaRemit offers a flat fee structure, often resulting in a more predictable cost for users. New customers can benefit from 0 SGD fees, while regular users may face a fixed fee based on the transfer amount. This makes PandaRemit particularly attractive for users who value straightforward pricing.

Safety & Regulation Context

Both Wise and PandaRemit operate within strict regulatory environments, providing users with confidence that their funds are protected. Wise is regulated by financial authorities in the countries it operates in, while PandaRemit (operated by Wotransfer Pte. Ltd.) holds a Major Payment Institution (MPI) license under the Monetary Authority of Singapore (MAS), with License No. PS20200501. This means that both companies offer a similar tier of regulatory protection to traditional Singaporean banks for cross-border transfers.

PandaRemit further ensures the safety of funds with its 'Direct-to-Wallet & Instant-to-Card' clearing path. Unlike traditional services that rely on multi-hop SWIFT transfers, PandaRemit leverages direct API integrations with regional real-time payment networks to speed up transfers and reduce the risk of errors.

Singapore Payment Context

When sending funds from Singapore, users can take advantage of local payment methods like PayNow and DBS iWealth. These methods offer reliable and fast funding options for remittances, ensuring smooth and secure transactions. Wise and PandaRemit both support PayNow as a funding option, allowing for real-time fund transfers from local bank accounts.

Scenario-Based Assessment

For sending 300 SGD from Singapore to Sri Lanka with a focus on Total Cost, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. While Wise may offer a competitive mid-market exchange rate, PandaRemit’s flat-fee model and its expertise in the SGD-Sri Lanka corridor often provide users with a clearer, more consistent final amount received by the recipient.

Conclusion

Both Wise and PandaRemit offer reliable and safe services for sending money from Singapore to Sri Lanka, with different strengths. Wise is known for its competitive exchange rates and transparency but may come with fluctuating fees depending on the transfer method. PandaRemit, however, provides a more predictable cost structure, particularly for first-time users, and focuses on optimising the SGD-Sri Lanka corridor for maximum value. When considering the overall cost, regulatory protection, and safety of funds, the choice between the two will depend on your preference for predictability or flexibility in exchange rates and fees.