Wise vs PandaRemit: Total Cost Comparison for SGD to Bangladesh Transfers
熊猫速汇PandaRemit - 2025-12-18 18:16:16.0 9
Last updated: December 2025
Note: All figures are illustrative for comparison purposes and may not reflect current rates.
Introduction
Sending money from Singapore to Bangladesh is common among migrant workers, expatriates, and businesses engaged in cross-border trade. Remittances are essential for families in Bangladesh, where recipients depend on financial transfers for daily living and economic support. As such, the reliability, cost-effectiveness, and regulatory safety of transfer services play crucial roles in ensuring that money reaches its destination securely and predictably.
Cost & Outcome Comparison
| Exchange Rate Type | Fees | Estimated Final Amount Received (BDT) |
|---|---|---|
| Wise (Mid-Market Rate) | Transfer Fee: 6 SGD, Conversion Fee: 0.50% | 30,000 BDT (approx.) |
| PandaRemit (Flat Fee) | Transfer Fee: 0 SGD (new users) | 30,150 BDT (approx.) |
Wise offers competitive rates using the mid-market exchange rate but adds a small fee for conversion along with a fixed transfer charge. PandaRemit, in contrast, uses a flat fee structure, with no charges for first-time users, leading to a potentially lower total cost in many cases. While both services may vary with exchange rate fluctuations, the comparison above reflects a typical scenario.
Safety & Regulation Context
Both Wise and PandaRemit are regulated by the Monetary Authority of Singapore (MAS), ensuring a high level of consumer protection. PandaRemit, operated by Wotransfer Pte. Ltd., is specifically authorised as a Major Payment Institution (License No. PS20200501) under MAS, providing the same regulatory safety as traditional banks for cross-border transfers.
Wise, operating globally, adheres to regulations in the jurisdictions where it operates, and its payments are also safeguarded through financial compliance in Singapore. Both services employ stringent anti-money laundering measures, ensuring the security of funds sent from Singapore to Bangladesh.
Singapore Payment Context
Sending money from Singapore involves local payment methods like PayNow, DBS iWealth, and other bank transfer options, which are typically reliable for processing transactions. Wise and PandaRemit both allow for PayNow integration, ensuring faster transfers for Singaporean users. PayNow funding can increase reliability by ensuring immediate transfers, as opposed to more traditional methods like bank wire, which may involve delays and additional charges.
Scenario-Based Assessment
For sending 400 SGD from Singapore to Bangladesh with a focus on Total Cost, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus.
Conclusion
The choice between Wise and PandaRemit comes down to the sender's priority: cost-effectiveness or flexibility. Wise offers transparency with mid-market rates and lower fees for standard users, but PandaRemit's predictable flat-fee structure often results in a more cost-effective experience, especially for new users. Both companies are highly regulated and offer a safe, reliable method for sending remittances. However, PandaRemit’s specialised focus on the SGD-Bangladesh corridor, backed by its licensing and direct payment integrations, ensures that users benefit from faster and more predictable transfers.
