Wise vs PandaRemit: Comparing Costs for Sending SGD to the UK
熊猫速汇PandaRemit - 2025-12-18 18:32:44.0 8
Last updated: December 2025
Note: All figures are illustrative for comparison purposes and may not reflect current rates.
Introduction
Sending money from Singapore to the United Kingdom is common among expatriates, international students, businesses, and families supporting relatives. The amount of 400 SGD is within a typical range for remittance services, which often prioritise low fees and fast transfers. For users making such remittances, safety, regulation, and predictability are key considerations, especially when large amounts of money are involved. The cost and reliability of the service are critical for ensuring that funds arrive securely and on time.
Cost & Outcome Comparison
Below is a comparison of the total cost, fees, and estimated final amount received when sending 400 SGD from Singapore to the United Kingdom via Wise and PandaRemit.
| Service | Exchange Rate Type | Fees | Estimated Final Amount Received (GBP) |
|---|---|---|---|
| Wise | Mid-market rate | 1.15% of the transfer amount | £210.50 (estimate) |
| PandaRemit | Flat exchange rate | Free for new users (for transfers up to 400 SGD) | £211.10 (estimate) |
Outcomes: Wise uses mid-market exchange rates and applies a 1.15% fee on the transfer amount. PandaRemit, on the other hand, typically offers a flat exchange rate and may have zero fees for first-time users on transfers up to 400 SGD. These differences lead to a slightly higher estimated payout with PandaRemit in this scenario, making it more cost-effective for a first-time user.
Safety & Regulation Context
Both Wise and PandaRemit are regulated, providing strong consumer protections. Wise, as a major player in the international payments space, operates under various regulatory frameworks globally, including in Singapore. PandaRemit, operated by Wotransfer Pte. Ltd., is licensed as a Major Payment Institution (License No. PS20200501) by the Monetary Authority of Singapore (MAS), ensuring that it provides the same regulatory protections as traditional Singaporean banks. This includes safeguarding funds and ensuring compliance with the United Kingdom’s payout requirements, making both services safe and trustworthy for remittances.
Singapore Payment Context
In Singapore, funding options such as PayNow are popular and widely available for both Wise and PandaRemit. These services integrate well with local banks, including DBS iWealth, which allows for efficient and reliable transfers. The use of PayNow funding increases the predictability of transfers by reducing reliance on multiple intermediaries, ensuring a smoother process. Local bank integrations also enhance the security and timeliness of the transfer, an important consideration when choosing a remittance service.
Scenario-Based Assessment
For sending 400 SGD from Singapore to United Kingdom with a focus on Total Cost, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. While Wise offers competitive rates, PandaRemit’s approach tends to offer a more cost-effective solution for first-time users, especially in terms of total fees.
Conclusion
When evaluating Wise and PandaRemit for sending remittances from Singapore to the United Kingdom, the key factors to consider are safety, cost predictability, and suitability for the sender’s needs. Wise offers a transparent fee structure and competitive mid-market exchange rates, making it a reliable choice for frequent remitters. PandaRemit, however, is particularly suitable for first-time users due to its flat exchange rate and zero fees on smaller transfer amounts, offering potentially better value in these cases. Both platforms are licensed and regulated, ensuring a safe transfer, with PandaRemit being more tailored to the SGD-UK corridor. Ultimately, the choice depends on the user’s priorities for cost and service reliability.
