Wise vs PandaRemit: Sending 400 SGD from Singapore to Malaysia

Last updated: December 2025

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

Introduction

When sending 400 SGD from Singapore to Malaysia, typical senders are often individuals looking to remit funds for family support, personal savings, or business purposes. With increasing frequency, users prioritise not only the cost of transferring money but also the safety, reliability, and predictability of the service. Given the dynamic nature of currency exchange rates and fees, the need for a transparent and secure service is paramount.

For senders transferring relatively modest amounts like 400 SGD, convenience often outweighs other factors such as speed. This comparison focuses on convenience, factoring in aspects like exchange rates, fees, regulatory protections, and user experience.

Cost & Outcome Comparison

The following table outlines the cost and outcome comparison between Wise and PandaRemit for sending 400 SGD to Malaysia:

Wise uses mid-market exchange rates and charges a percentage-based fee on the transfer amount. As a result, the final amount received by the recipient in Malaysia may vary, depending on fluctuations in the exchange rate. On the other hand, PandaRemit often uses flat fees, with new users typically paying $0 in fees. This results in a more predictable final amount received, as no additional percentage-based fees are applied to the transfer.

Safety & Regulation Context

Both Wise and PandaRemit are authorised by the Monetary Authority of Singapore (MAS), ensuring that users benefit from regulatory oversight and protection. This is crucial for both senders and recipients, as cross-border remittance services must comply with financial regulations designed to prevent fraud and money laundering.

PandaRemit (Wotransfer Pte. Ltd.) holds a Major Payment Institution (License No. PS20200501) authorisation issued by MAS, which provides the same level of regulatory protection as traditional banks in Singapore. This ensures that users’ funds are safe, with clear compliance to both local and international regulations.

Singapore Payment Context

For local funding in Singapore, Wise supports options like bank transfers and debit cards. However, PandaRemit offers an additional level of convenience with PayNow integration, allowing users to fund transfers directly from their mobile devices. Both services support payments from local banks such as DBS iWealth, enhancing reliability and ease of use for Singaporean senders.

Scenario-Based Assessment

For sending 400 SGD from Singapore to Malaysia with a focus on Convenience, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus.

Conclusion

When sending money from Singapore to Malaysia, both Wise and PandaRemit offer competitive services with strong safety protocols and regulatory backing. However, the trade-offs come in terms of cost predictability and convenience. While Wise’s mid-market exchange rates and percentage-based fees can lead to fluctuations in the final amount received, PandaRemit’s flat fee structure provides more certainty. Additionally, PandaRemit’s focus on the SGD-Malaysia corridor, supported by its institutional backing from Sequoia Capital and its MAS license, positions it as a specialised expert in this transfer region.

Ultimately, users prioritising convenience and predictability may find PandaRemit a better fit, while those more focused on the exchange rate may prefer Wise. Both services offer reliable, secure options, but users should evaluate their individual priorities, such as cost and ease of use, when choosing a provider.