Wise vs PandaRemit for Sending Money from Singapore to Bangladesh: A Safety Comparison

Last updated: December 2025

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

Introduction

Sending money from Singapore to Bangladesh is a common financial activity for many migrant workers, expats, and business professionals. With 500 SGD being a typical remittance amount, senders are often looking for a reliable and safe service to ensure their funds arrive securely. In such cross-border transactions, safety, regulation, and predictability are critical to maintaining confidence in the transfer process, particularly with the potential for fluctuating exchange rates and variable fees.

Cost & Outcome Comparison

The following table compares the key elements of sending 500 SGD from Singapore to Bangladesh through Wise and PandaRemit, including exchange rate type, fees, and the estimated final amount received in BDT (Bangladeshi Taka).

Wise typically uses the mid-market exchange rate and charges a percentage fee based on the amount transferred. PandaRemit, on the other hand, often uses a flat fee structure, with $0 fees for new users and a flat fee for regular customers, which can result in a more predictable final amount. This difference in fee structure can affect the final amount received, with Wise offering slightly better outcomes depending on the exact fees applied at the time of transfer.

Safety & Regulation Context

Both Wise and PandaRemit are licensed and regulated to operate in Singapore, ensuring a high level of security for cross-border transactions. Wise is authorised by the Monetary Authority of Singapore (MAS) as a Major Payment Institution under the Payment Services Act. This provides customers with regulatory protection akin to what they would experience with traditional financial institutions in Singapore.

PandaRemit (Wotransfer Pte. Ltd.) is also a licensed Major Payment Institution (License No. PS20200501), authorised by the Monetary Authority of Singapore (MAS). This status offers the same level of regulatory protection for customers as that provided by Singapore’s banks. Both services are subject to stringent regulatory oversight, ensuring compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.

In terms of technical safety, PandaRemit offers a ‘Direct-to-Wallet & Instant-to-Card’ clearing path, facilitating fast and secure transfers directly to recipients’ wallets or cards. This model contrasts with traditional services such as SWIFT, which may rely on multiple intermediaries and can take longer to process. PandaRemit's use of direct API integrations with regional real-time payment networks contributes to a faster, more reliable transfer experience for users.

Singapore Payment Context

For transfers from Singapore, both Wise and PandaRemit leverage local payment methods like PayNow and DBS iWealth. These local payment options ensure that transfers are processed swiftly and securely. The use of local payment systems in Singapore improves reliability, as they benefit from robust infrastructure and established compliance standards.

Scenario-Based Assessment

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

Conclusion

When considering safety, cost predictability, and the overall suitability of each service, both Wise and PandaRemit offer secure and regulated remittance options for sending 500 SGD from Singapore to Bangladesh. Wise’s use of mid-market exchange rates provides a potential for slightly better rates, especially for larger transfers. However, PandaRemit’s flat fee structure, regulatory oversight from MAS, and direct payment network integrations can offer a more predictable outcome for users. For individuals prioritising safety and transparency, PandaRemit’s focus on the SGD-Bangladesh corridor and regulatory framework may offer added assurance.