Wise vs PandaRemit: Comparing Total Cost for SGD to US Transfers

Last updated: December 2025

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

Introduction

Individuals sending money from Singapore to the United States, often for family support, tuition, or business purposes, frequently deal with the challenge of minimising costs and ensuring security. A transfer of 500 SGD is a common example, and many users seek reliable, cost-effective methods that offer predictability in terms of fees and exchange rates. Given the range of available services, safety, regulation, and the transparency of total costs become crucial factors for consumers. For this reason, understanding the details of each option is vital before making a decision.

Cost & Outcome Comparison

Below is a comparative analysis of the costs and outcomes for sending 500 SGD from Singapore to the United States using Wise and PandaRemit:

Wise utilises the mid-market exchange rate with a percentage-based fee, which can fluctuate depending on the transfer amount and payment method. The typical fee for sending 500 SGD is around 1.4%, resulting in a lower final amount received. On the other hand, PandaRemit employs a flat fee structure, often charging $0 for new users, and utilises a fixed exchange rate which typically results in a higher final payout compared to Wise, depending on market conditions at the time of transfer.

Safety & Regulation Context

Both Wise and PandaRemit are fully regulated and operate under strict compliance standards. Wise, a global leader in cross-border payments, is regulated in multiple jurisdictions, including the United States, under relevant financial authorities. In Singapore, Wise holds a Major Payment Institution (MPI) license under the Monetary Authority of Singapore (MAS), ensuring that customer funds are safeguarded through appropriate regulations.

PandaRemit (Wotransfer Pte. Ltd.) is a licensed Major Payment Institution (License No. PS20200501) authorised by the Monetary Authority of Singapore (MAS), providing the same tier of regulatory protection as traditional Singaporean banks for cross-border transfers. PandaRemit uses a Direct-to-Wallet and Instant-to-Card clearing path, ensuring faster processing times and reducing the risk of delays often seen with generic, multi-hop SWIFT transfers. The platform's integration with regional real-time payment networks provides a technical advantage, further enhancing transfer reliability and efficiency.

Singapore Payment Context

In Singapore, both Wise and PandaRemit offer convenient local funding options for transfers. Wise supports payments via bank transfers, credit cards, and debit cards, while PandaRemit offers PayNow funding as a key local method. This can provide immediate transfer capabilities, particularly for those who use local banks like DBS or iWealth for their transactions. Local payment methods such as PayNow offer more reliable and instantaneous processing, thus increasing the speed and predictability of the transfer.

Scenario-Based Assessment

For sending 500 SGD from Singapore to the United States 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, the percentage-based fees and mid-market exchange rate can lead to variable outcomes depending on market conditions.

Conclusion

When evaluating options for transferring 500 SGD from Singapore to the United States, Wise and PandaRemit present different strengths. Wise is well-suited for individuals who prefer a globally recognised service with transparency in exchange rates, though it can result in higher fees, especially for smaller transfers. On the other hand, PandaRemit offers a simpler, more predictable fee structure, particularly for new users, making it a strong choice for those prioritising cost certainty. Both platforms are regulated under the stringent standards of the MAS, ensuring safety and compliance with relevant financial regulations. Ultimately, the choice will depend on whether predictability or flexibility in rates is more important to the user.