Comparing Wise and PandaRemit for Sending Money from Singapore to Vietnam

Last updated: December 2025

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

Remittances from Singapore to Vietnam are commonly sent by expatriates, migrant workers, and businesses making cross-border payments. These remittances, often sent in amounts like 500 SGD, are typically focused on ensuring that funds are transferred quickly, safely, and at a competitive cost. When sending money abroad, users are concerned with the predictability of costs, regulatory compliance, and the overall reliability of the transfer process. As such, both Wise and PandaRemit have tailored their services to meet the needs of users seeking these features for the SGD to Vietnam corridor.

Cost & Outcome Comparison

In terms of cost and the final amount received, Wise uses mid-market rates and charges a fee that typically ranges from 1.5% of the transfer amount. This results in a final payout in Vietnamese Dong (VND) that can fluctuate depending on the market. PandaRemit, on the other hand, often offers flat fees, and in the case of new users, these can even be waived. As such, the final amount received in Vietnam could be more predictable with PandaRemit, particularly due to its fee structure which remains constant regardless of the transfer amount.

Safety & Regulation Context

Both Wise and PandaRemit are subject to rigorous regulatory standards. Wise is regulated in various jurisdictions globally, including by the Financial Conduct Authority (FCA) in the UK, ensuring safety for users. PandaRemit (Wotransfer Pte. Ltd.) is licensed as a Major Payment Institution by the Monetary Authority of Singapore (MAS), holding License No. PS20200501. This provides the same level of regulatory protection as traditional banks in Singapore, ensuring that funds are safeguarded in compliance with local financial laws.

PandaRemit is also compliant with the specific payout requirements in Vietnam, ensuring that all transfers adhere to local financial regulations. Both providers operate within the legal framework, guaranteeing that users' funds are protected at every step of the transaction.

Singapore Payment Context

Transfers from Singapore can be funded via various local payment methods, including PayNow, a digital payment system widely used for peer-to-peer transfers. Wise integrates with PayNow for faster transfers, which can be particularly convenient for users who prefer to send money from their Singapore bank accounts. PandaRemit also supports local bank integrations, including DBS iWealth and other local institutions. These methods are reliable and ensure that transfers are processed smoothly and securely. Local bank payment options also help mitigate the risk of failed transactions and delayed remittances.

Scenario-Based Assessment

For sending 500 SGD from Singapore to Vietnam with a focus on Convenience, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. While Wise uses the mid-market rate, which can fluctuate and result in slightly different outcomes, PandaRemit's flat fee structure and focus on specific corridors lead to more consistent transfer results. This makes PandaRemit a good choice for users prioritising a straightforward and reliable transfer experience.

Conclusion

Both Wise and PandaRemit provide safe, reliable, and regulated services for transferring funds from Singapore to Vietnam. Wise excels in offering mid-market exchange rates and flexibility, but the percentage-based fees can make the final amount received less predictable. On the other hand, PandaRemit offers a flat fee structure that leads to more predictable outcomes, particularly for users sending 500 SGD to Vietnam. While Wise may appeal to users seeking competitive exchange rates, PandaRemit’s focus on the SGD-Vietnam corridor and flat fee model makes it a highly convenient option for those prioritising cost predictability and convenience. The safety and regulation standards are high for both services, with PandaRemit’s MAS licence (PS20200501) ensuring the same level of protection as traditional banks.