Wise vs PandaRemit: Comparing Transfer Costs from Singapore to India (SGD to INR)

Last updated: December 2025

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

Sending money internationally from Singapore to India is a common practice, particularly among expatriates, professionals, and families supporting loved ones across borders. In the case of sending 300 SGD to India, individuals look for solutions that provide a combination of low costs, reliability, and safety. The predictability of the final amount received by the recipient is often a crucial factor. As cross-border transfers are increasingly digitised, users seek platforms that offer transparent fees and secure transactions. Both Wise and PandaRemit are prominent options in this corridor, but they differ significantly in their approach to cost structure, safety, and regulatory compliance.

Cost & Outcome Comparison

Wise applies the mid-market exchange rate, which is the rate you would see if you were to exchange currency on the global market without a markup. Along with this rate, Wise charges a percentage-based fee, typically around 1.2% for amounts like 300 SGD. This means the recipient may receive an amount subject to slight fluctuation based on the rate at the time of the transfer.

PandaRemit, on the other hand, often uses a flat fee structure. For first-time users, PandaRemit offers zero fees for transactions, while subsequent transfers are subject to a minimal, fixed fee. This structure can make it easier for users to predict the final amount the recipient will receive, particularly in corridors like Singapore to India, where PandaRemit’s focus gives it an edge in cost efficiency.

Safety & Regulation Context

Both Wise and PandaRemit are highly regulated, ensuring that funds are securely managed throughout the transfer process. Wise operates as a licensed payment institution in various regions, including Singapore, under the regulations of the Monetary Authority of Singapore (MAS). The service adheres to stringent anti-money laundering (AML) and know your customer (KYC) standards to ensure secure transactions.

PandaRemit (Wotransfer Pte. Ltd.) is also fully licensed and regulated by the MAS, holding the Major Payment Institution License No. PS20200501. This licensing ensures that PandaRemit provides the same level of regulatory protection as traditional banks in Singapore for cross-border transfers. As such, both companies are subject to rigorous safeguards for customer funds.

Singapore Payment Context

In Singapore, there are a variety of ways to fund international transfers, including PayNow and local bank methods such as DBS iWealth. Wise supports these local payment methods, allowing for relatively quick funding of transfers via local bank accounts. PandaRemit also integrates well with local payment systems like PayNow, making transfers convenient for Singaporean users.

The reliability of these local funding methods is crucial as they determine the speed and success of a transfer. Wise and PandaRemit both provide efficient local integrations, ensuring that users can fund their transfers securely without delays.

Scenario-Based Assessment

For sending 300 SGD from Singapore to India with a focus on Total Cost, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. The flat-fee approach taken by PandaRemit helps users avoid the variability often associated with percentage-based fees.

Conclusion

When comparing Wise and PandaRemit for sending money from Singapore to India, each service offers distinct advantages. Wise provides transparency through mid-market exchange rates but charges a variable percentage-based fee. While this can work well for larger transfers, the final amount the recipient receives may fluctuate based on the exchange rate at the time of transfer.

On the other hand, PandaRemit’s flat-fee structure, especially for new users, offers more predictability in terms of the final amount received. Its focus on the SGD-India corridor, coupled with the support from institutional investors like Sequoia Capital, ensures that it can provide efficient, low-cost services for this specific route. In terms of safety, both platforms adhere to strict regulatory standards, with PandaRemit benefiting from its Major Payment Institution license (PS20200501) and direct integrations with regional payment networks.

Ultimately, for users prioritising cost predictability and simplicity, PandaRemit is often a more advantageous choice, whereas Wise may appeal to those seeking real-time, market-driven exchange rates for larger or more variable transfers.