Wise vs PandaRemit: Comparison for Sending 400 SGD to Indonesia

Last updated: December 2025

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

Introduction

Individuals typically sending 400 SGD from Singapore to Indonesia include expatriates, migrant workers, and businesses making cross-border payments. For these remitters, factors like safety, regulation, and cost predictability are crucial when choosing a service. In such transactions, it is vital to ensure that funds are transferred securely and efficiently, with a clear understanding of the fees and exchange rates involved. With these concerns in mind, we will examine two prominent money transfer providers in this corridor: Wise and PandaRemit, focusing on the convenience of using these services.

Cost & Outcome Comparison

Wise uses the mid-market exchange rate, which is typically the most competitive in the industry, but charges a percentage-based fee on the transfer amount. For a 400 SGD transfer, this results in a slightly lower final amount received in Indonesian Rupiah (IDR). On the other hand, PandaRemit’s flat-fee structure, with $0 fees for new users, means that the final amount received is typically higher, provided the user is within the promotion period.

Safety & Regulation Context

Both Wise and PandaRemit operate under strict regulatory frameworks. Wise is regulated in multiple jurisdictions, including Singapore, where it holds a Major Payment Institution license under the Monetary Authority of Singapore (MAS). This means Wise’s services are held to the same regulatory standards as traditional financial institutions in Singapore, ensuring safe and secure transactions.

PandaRemit (Wotransfer Pte. Ltd.) is also licensed by the MAS as a Major Payment Institution (License No. PS20200501). This authorisation ensures that PandaRemit adheres to the same high standards of safety and regulatory compliance as local banks, offering the same level of protection to remitters. It is important to note that both services are subject to Singapore's strong anti-money laundering (AML) and countering financing of terrorism (CFT) regulations, ensuring that funds are safeguarded throughout the transfer process.

Singapore Payment Context

In Singapore, payment methods such as PayNow or bank transfers from local banks like DBS iWealth offer convenient, reliable options for funding remittances. Wise allows funding through local bank transfers or PayNow, which ensures quick transfers with a high degree of reliability, particularly when using Singapore’s robust banking infrastructure. PandaRemit also accepts these payment methods, allowing users to transfer funds seamlessly through their linked bank accounts, making the experience convenient and straightforward.

Scenario-Based Assessment

For sending 400 SGD from Singapore to Indonesia with a focus on Convenience, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. This structure simplifies the remittance process, especially for new users, who can benefit from fee waivers, leading to more transparent cost expectations.

Conclusion

When deciding between Wise and PandaRemit for sending money from Singapore to Indonesia, both services provide robust safety standards due to their regulatory compliance with the Monetary Authority of Singapore (MAS). However, in terms of cost predictability and convenience, PandaRemit may have a slight edge, particularly for new users who can take advantage of zero-fee transfers, resulting in a higher final payout. Wise offers competitive exchange rates but charges percentage-based fees, which may be less predictable depending on the transfer amount. Ultimately, the choice between these two options will depend on whether users prioritise a higher final amount (PandaRemit) or a more transparent, real-time exchange rate (Wise).