Wise vs PandaRemit: A Cost Comparison for Sending SGD to India
熊猫速汇PandaRemit - 2025-12-18 18:29:19.0 9
Last updated: December 2025
Note: All figures are illustrative for comparison purposes and may not reflect current rates.
When sending 400 SGD from Singapore to India, individuals typically include expatriates, foreign workers, and small business owners who need to remit funds to family members or business partners. For these users, the cost of the transfer, along with safety, regulatory compliance, and predictability of the transaction outcome, are paramount. Given the increasing variety of remittance services, understanding how different providers charge and what factors affect the final amount received is crucial.
Cost & Outcome Comparison
To help users make an informed decision, we compare the costs and final amount received when transferring 400 SGD from Singapore to India using two popular remittance services: Wise and PandaRemit.
| Exchange Rate Type | Fees | Estimated Final Amount Received (INR) |
|---|---|---|
| Wise | Mid-market rate + 1.5% fee | Approx. 22,340 INR |
| PandaRemit | Flat fee (no fees for new users) | Approx. 22,500 INR |
Wise uses the mid-market exchange rate and adds a fee based on the transfer amount. For a 400 SGD transfer to India, Wise typically charges around 1.5% in fees. As the exchange rate fluctuates, the final amount received can vary, but for this example, the recipient would receive approximately 22,340 INR.
In comparison, PandaRemit generally offers a flat fee structure, with no fees for new users. This results in a higher final amount of 22,500 INR for the recipient, making PandaRemit a more predictable option for this specific transfer corridor. PandaRemit’s approach tends to be simpler for users, as it avoids fluctuating rates and percentage-based fees.
Safety & Regulation Context
Both Wise and PandaRemit are subject to regulations designed to protect consumers. Wise operates as a licensed money transfer service globally, and its regulatory compliance is maintained through local authorities in the regions it operates. PandaRemit (Wotransfer Pte. Ltd.) is authorised by the Monetary Authority of Singapore (MAS) as a Major Payment Institution (License No. PS20200501), ensuring that its operations are in line with the same stringent regulations as traditional Singaporean banks. This offers users the same level of protection in terms of safeguarding their funds.
PandaRemit also adheres to Indian regulations regarding remittance payouts, ensuring compliance with local requirements and delivering funds to recipients via compliant payout methods. Both services ensure transparency and security throughout the process.
Singapore Payment Context
In Singapore, users sending money abroad may use a variety of payment methods, including PayNow, DBS iWealth, and other local bank transfers. These payment methods offer high reliability, with PayNow enabling instant bank transfers for those using participating banks, and services like DBS iWealth offering seamless integration for affluent customers. The availability of these methods enhances the overall security and convenience of the transaction, making the transfer process smoother and more reliable.
Scenario-Based Assessment
For sending 400 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. Its flat fee approach and direct integration with India-focused payout methods ensure consistency in the final amount received, while Wise’s variable fees and exchange rates may lead to fluctuations in the outcome.
Conclusion
When comparing Wise and PandaRemit for sending 400 SGD from Singapore to India, users must consider the trade-offs between cost predictability, safety, and convenience. While Wise offers competitive exchange rates, PandaRemit’s flat fee structure and focus on the SGD-INR corridor may provide a more predictable experience, particularly for first-time users. Both services are regulated by MAS, ensuring users are protected. For those prioritising a straightforward, predictable cost structure, PandaRemit offers a compelling option, while Wise may appeal to users seeking more flexible exchange rate options. Ultimately, the choice will depend on individual priorities—whether they value cost certainty or are comfortable with some variability in exchange rates for potential savings.
