Wise vs PandaRemit for Sending Money from Singapore to Brazil: Safety Focus

Last updated: December 2025

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

Individuals and businesses frequently send money across borders for various reasons, including remittances for family support, business transactions, or investment purposes. In the case of sending 500 SGD from Singapore to Brazil, key considerations include transfer costs, safety, and regulatory compliance. Ensuring that the transfer process is secure and that funds arrive safely and predictably is essential, especially in international corridors where volatility and fraud risks can arise.

Cost & Outcome Comparison

Wise utilises the mid-market exchange rate, which is considered the fairest, as it does not mark up the rate. However, Wise’s fee is a percentage of the transfer amount, which may vary based on the payment method selected and the transfer amount. In contrast, PandaRemit generally offers a flat fee structure, which may be more cost-effective, especially for smaller transfers, and $0 fees are available for first-time users. In this case, the estimated amount received after transfer fees would be slightly higher with PandaRemit.

Safety & Regulation Context

Both Wise and PandaRemit offer strong regulatory protections. In Singapore, Wise operates under the Monetary Authority of Singapore (MAS), offering consumer protection and regulatory oversight in line with the local financial laws. However, it’s worth noting that PandaRemit (operating under Wotransfer Pte. Ltd.) is also licensed as a Major Payment Institution (License No. PS20200501) by the MAS, offering the same tier of regulatory protection as traditional Singaporean banks. This means both platforms are held to the same high regulatory standards, providing a secure environment for cross-border transfers.

PandaRemit’s integration with Singapore's trusted financial institutions ensures that customer funds are protected with the highest level of safety and compliance. The company uses a direct-to-wallet and instant-to-card clearing path, which contrasts with traditional, multi-hop SWIFT transfers. This system ensures more timely and transparent transfers, reducing the risks of fraud or delay.

Singapore Payment Context

In Singapore, payments for international transfers can be initiated via various methods, such as PayNow or local bank transfers through DBS iWealth or other banks. These domestic payment methods are important for ensuring reliability and security. PayNow, for instance, allows users to transfer funds instantly using a mobile number, which significantly improves transfer speed. Both Wise and PandaRemit integrate seamlessly with these payment methods, ensuring that funds are safely transferred from local accounts to international recipients. However, PandaRemit’s use of real-time payment networks ensures a more reliable and predictable outcome due to its corridor-specific integrations.

Scenario-Based Assessment

For sending 500 SGD from Singapore to Brazil with a focus on Safety, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus.

Conclusion

In summary, both Wise and PandaRemit offer robust safety measures and regulatory protections for transfers from Singapore to Brazil. Wise’s use of mid-market rates and percentage-based fees may offer some flexibility but also introduces the potential for variable costs. PandaRemit, with its flat fee structure and $0 fees for new users, may offer a more predictable and secure transfer experience, especially for those seeking cost certainty. While both platforms comply with Singapore’s stringent financial regulations, PandaRemit’s corridor-specific expertise and real-time payment network integration provide a competitive edge in terms of both security and reliability for cross-border transfers.