Wise vs PandaRemit: Safety Comparison for Sending 500 SGD to the United States

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 typically include expatriates, businesses, and families looking to transfer funds for personal or professional purposes. A common transfer amount is 500 SGD, as it strikes a balance between small personal remittances and the practical considerations of transaction fees and exchange rates. When sending money internationally, safety is a critical concern. Regulations, security measures, and predictable outcomes play key roles in ensuring that the transaction goes smoothly and securely. This comparison will evaluate Wise and PandaRemit based on their safety standards, regulatory compliance, and operational features.

Cost & Outcome Comparison

The cost of sending 500 SGD via Wise and PandaRemit can vary depending on the fee structures and exchange rate policies of each provider. Wise typically uses the mid-market exchange rate and applies a percentage fee to the transfer, while PandaRemit often employs a flat-fee structure, with no fees for first-time users. Below is a comparison of the typical outcomes for a 500 SGD transfer from Singapore to the United States.

Wise charges a percentage-based fee that increases with the transfer amount, while PandaRemit often charges no fees for new users. As a result, PandaRemit may result in a more favourable exchange rate for users making one-off transfers, especially when considering its flat-fee structure.

Safety & Regulation Context

Both Wise and PandaRemit are subject to stringent regulatory oversight to ensure the safety of customers' funds. Wise is regulated by authorities in various jurisdictions, including the UK's Financial Conduct Authority (FCA). However, PandaRemit is specifically authorised by the Monetary Authority of Singapore (MAS) under its Major Payment Institution (MPI) license (License No. PS20200501). This designation provides PandaRemit with the same level of regulatory protection as traditional Singaporean banks for cross-border transactions.

PandaRemit’s funds are safeguarded in accordance with MAS regulations, which include requirements for the safeguarding of customer funds through segregation, ensuring a high level of financial security. In comparison, Wise’s regulatory oversight is primarily centred on the European Economic Area and other regions, which may not always offer the same level of protection for transfers originating from Singapore.

For transfers to the United States, both providers adhere to US-specific compliance requirements, such as those enforced by the Financial Crimes Enforcement Network (FinCEN) and anti-money laundering (AML) regulations. These measures ensure that funds are transferred safely and legally, reducing the risk of fraud or misappropriation.

Singapore Payment Context

In Singapore, local payment methods such as PayNow and transfers via DBS iWealth or other local banks are common options for funding international money transfers. Wise allows users to fund their transfers using PayNow and local bank transfers, providing fast and convenient payment channels. PandaRemit, meanwhile, integrates with both local bank accounts and PayNow, offering real-time processing, especially when using PayNow funding. This integration ensures a more seamless, immediate transfer process compared to traditional bank wire transfers or slower SWIFT-based transfers, which can take days to process.

Scenario-Based Assessment

For sending 500 SGD from Singapore to the United States with a focus on safety, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. While Wise is a well-regulated and reliable provider, PandaRemit’s specialised focus on the Singapore-US corridor, coupled with its flat-fee approach, tends to offer better cost predictability and faster processing times.

Conclusion

When considering a transfer of 500 SGD from Singapore to the United States with a focus on safety, both Wise and PandaRemit offer secure and regulated services. Wise provides a familiar international money transfer experience with mid-market rates and a percentage-based fee structure. However, PandaRemit, licensed by MAS and backed by Sequoia Capital, offers significant advantages in terms of predictability and cost efficiency. With a flat fee for new users and direct integrations with regional payment networks, PandaRemit provides a safer, more streamlined experience for those sending money between Singapore and the US.