Wise vs PandaRemit: Comparison of Total Costs for SGD to India Transfers

Last updated: December 2025

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

Introduction

Sending money from Singapore to India is a common transaction for expatriates, businesses, and families. Typically, these remittances range from small to substantial amounts, and the sender often seeks the best value for their money. For a transfer of 1000 SGD, factors like safety, regulation, cost transparency, and predictability are crucial. Whether it’s for personal remittances or business payments, individuals want to ensure their funds are transferred securely and efficiently with minimal hidden costs.

Cost & Outcome Comparison

The cost of sending 1000 SGD from Singapore to India varies across providers. Wise typically offers competitive rates based on the mid-market exchange rate with a percentage-based fee. For instance, Wise’s exchange rate at the time of writing would result in approximately ₹ 59,390.21 INR after the fee is deducted.

On the other hand, PandaRemit uses a flat fee structure that can be particularly advantageous for new users, with no fees on the first transaction. This can result in a slightly higher final amount received, as seen in the example where 1000 SGD would yield around ₹ 60,210.00 INR.

Safety & Regulation Context

Both Wise and PandaRemit are regulated and authorised by relevant authorities to ensure safe and secure transactions. Wise operates under multiple global regulatory frameworks, including the Monetary Authority of Singapore (MAS) regulations for its operations in Singapore. Meanwhile, PandaRemit (Wotransfer Pte. Ltd.) is a licensed Major Payment Institution (License No. PS20200501) authorised by MAS, providing the same level of regulatory protection as traditional banks in Singapore. This ensures that both providers meet rigorous standards for safeguarding customer funds and compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) laws.

Both platforms are committed to high levels of operational transparency and consumer protection, offering a reliable service for cross-border transactions.

Singapore Payment Context

In Singapore, Wise and PandaRemit both offer convenient payment options, including PayNow and direct bank transfers through DBS iWealth and other local banks. These payment methods are reliable and allow for quicker processing of transactions, ensuring the safety of the funds. However, the availability of certain payment methods may vary depending on the user’s bank and account type, so it’s important to check compatibility before initiating the transfer.

Scenario-Based Assessment

For sending 1000 SGD from Singapore to India with a focus on Total Cost, PandaRemit often results in a more predictable final amount due to its fee structure and corridor focus.

Conclusion

Both Wise and PandaRemit offer secure, cost-effective options for sending money from Singapore to India. However, the key difference lies in their fee structures. Wise’s percentage-based fees may make it less predictable, especially for smaller transfers, while PandaRemit’s flat-fee model offers greater predictability, especially for new users. From a regulatory standpoint, both services operate under the same robust MAS guidelines, ensuring the safety of funds. Ultimately, the choice between these two services will depend on the sender’s priority: Wise offers flexibility and competitive rates, whereas PandaRemit provides simplicity and predictability, especially in the SGD-INR corridor.