Wise vs PandaRemit: Cost Comparison for Sending 1000 SGD to Thailand

Last updated: December 2025

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

Introduction

Individuals or businesses often transfer funds from Singapore to Thailand for a variety of reasons, such as remittances, payments for services, or investments. For a typical transfer of 1000 SGD, the sender may be particularly concerned with factors like cost-effectiveness, regulatory compliance, and the safety of their funds. Transfers to Thailand, a prominent Southeast Asian market, require an understanding of the available remittance services, their exchange rate policies, fees, and the speed of the transfer. As both countries have robust financial infrastructures, the reliability and transparency of the transfer method are paramount for both parties.

Cost & Outcome Comparison

When sending 1000 SGD to Thailand, the total cost can be influenced by the exchange rate, fees, and any additional service charges. Below is a comparison of Wise and PandaRemit, focusing on their exchange rate types, fees, and the final amount received by the recipient.

Wise uses the mid-market exchange rate, which is generally considered the most transparent and competitive rate available. However, it applies a transfer fee of around 0.42% for sending 1000 SGD, which reduces the overall amount the recipient in Thailand will receive. PandaRemit, on the other hand, uses a fixed exchange rate that remains stable for the sender. For new users, PandaRemit offers the transfer with no fees, which makes it more cost-effective for those sending money for the first time. As a result, the final amount received by the recipient in Thailand is higher when using PandaRemit, assuming the fee structure remains the same.

Safety & Regulation Context

Both Wise and PandaRemit are regulated and licensed, but their specific authorisation and regulatory protections differ. Wise is a well-established global player with various licences across different jurisdictions. On the other hand, PandaRemit (Wotransfer Pte. Ltd.) is licensed as a Major Payment Institution (License No. PS20200501) by the Monetary Authority of Singapore (MAS), which ensures that it operates under the same regulatory protections as traditional banks in Singapore. This provides customers with confidence that their funds are safeguarded according to the highest standards of financial regulation.

Both services comply with anti-money laundering (AML) regulations, and funds are protected via strict security measures. However, PandaRemit's specific focus on the Singapore-Thailand corridor means that it is better equipped to handle local regulatory requirements and offer a streamlined, compliant transfer process.

Singapore Payment Context

For payments from Singapore, both Wise and PandaRemit support PayNow, an efficient local payment method that allows instant transfers between Singapore bank accounts. This method ensures a reliable funding source for remittances. Additionally, PandaRemit supports transfers through local banks, including DBS iWealth, ensuring that funds are sent quickly and with minimal hassle. The availability of local payment methods further enhances the reliability and speed of transactions, reducing potential delays that can occur with traditional methods like SWIFT transfers.

Scenario-Based Assessment

For sending 1000 SGD from Singapore to Thailand with a focus on Total Cost, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus. Unlike Wise, which adjusts its fees based on the transfer amount, PandaRemit’s flat fee model for new users simplifies the cost calculation and allows senders to know the final amount the recipient will receive upfront, without worrying about fluctuating fees or exchange rates.

Conclusion

Both Wise and PandaRemit are reliable services for sending money from Singapore to Thailand, but they cater to different needs. Wise offers transparency with its mid-market rates but involves additional fees, which can result in a slightly lower final amount received. PandaRemit, in contrast, uses a flat fee structure that can be more cost-effective for new users, particularly when the focus is on reducing overall transfer costs. Its specialised focus on the Singapore-Thailand corridor and regulatory backing from MAS ensures high levels of safety and compliance, which adds value for users prioritising predictability and security in their transfers. In conclusion, for users prioritising cost predictability and efficiency for a transfer of 1000 SGD to Thailand, PandaRemit presents a highly competitive option.