Panda Remit Review (Singapore): Is It Safe, Cheap & Worth It?

Panda Remit¹ is a remittance provider which offers digital international payments to customers in Singapore and other countries worldwide.

If you’re looking for ways to make your next international transfer, this Panda Remit review is for you. We’ll look at how Panda Remit keeps your money safe, the fees you pay and what the exchange rate is like.

We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees. We’ll also compare Panda Remit vs Wise to help you decide which service best suits your needs.

Table of Contents
What is Panda Remit? Is Panda Remit safe? How it works How to send money How to receive money with Panda Remit Receiving in Singapore Panda Remit transfer fees and limits Panda Remit vs Wise: Exchange rates Use Wise for quick transfers at the mid-market rate

What is Panda Remit?

Panda Remit is a digital remittance provider offering payments you can arrange in an app, with transfers available to 40+ countries.

Panda Remit serves over 3 million customers and supports transfers across Asia, Europe, North America and other regions.

From Singapore, you can send money to a broad range of destinations, with different payout methods depending on the country selected.

Is Panda Remit safe in Singapore?

Panda Remit is generally considered safe to use, provided normal precautions are taken.

In Singapore, Panda Remit is licensed as a Major Payment Institution by the Monetary Authority of Singapore (MAS). It also holds licences in other jurisdictions, including the US and Australia.

To maintain these licenses, money transfer services must comply with strict rules which are designed to keep customers and their money safe.

When signing up, you can expect identity verification checks. Transfers are also subject to compliance and security screening.

As with any financial service, you should only send money to people you know and trust, keep your login details secure and be cautious of scams or unusual payment requests.

Panda Remit money transfer in Singapore: how it works

From Singapore, you can use Panda Remit to send money internationally to 40+ countries.

You can pay using:

• Bank transfer
• ATM payment
• PayNow

There are also different receiving methods depending on the destination country.

Here’s an overview of your options for arranging a Panda Remit money transfer in Singapore.

How to send money with Panda Remit

To send money with Panda Remit, you’ll first need to download the app and register an account.

You’ll need an ID (passport or NRIC), proof of address and contact details

You’ll also complete a facial recognition step as part of registration.

Once you’re ready to send a payment with Panda Remit you can take the following steps²:

1. Open the Panda Remit app and enter the payment value in SGD
2. Set the currency you want to remit to
3. Select or add a recipient
4. Check the fees and exchange rate shown
5. Confirm and complete your payment if you’re happy with it

From Singapore you can fund your transfer with Panda Remit using a bank transfer, ATM payment, PayNow or a balance transfer from your Panda Remit account.

The time each payment method takes can vary. Sending from your Panda Remit balance, or using PayNow is usually the fastest, while using an ATM may take a day or so for the money to be received by Panda Remit.

How to receive money with Panda Remit

Receiving options depends on the country you’re sending money to. Depending on the destination, recipients may be able to receive funds to

• A bank account
• Supported mobile wallet

For example if you’re sending a payment to China your recipient can get their money through Alipay or Weixin.

If someone is sending you money through Panda remit you’ll need to discuss the receive method you prefer and give them your details so the payment can be processed securely.

Receiving money in Singapore

In Singapore you can receive payments to your bank or using PayNow. With PayNow you’ll need to give the sender your registered mobile number, or your NRIC/FIN number.

If you’re receiving money from a wallet, you may need to provide your full name as registered with the wallet provider, along with your wallet ID (often a mobile number or email address).

For payments received to a bank you’ll need to give the sender your banking information, including your name as shown on the account, the bank name, your account number and the bank’s SWIFT/BIC code.

Panda Remit transfer fees and limits

Before you send a payment overseas with Panda Remit you’ll want to compare the costs, rates and limits to make sure the service is a good fit for your specific needs.

Here are some of the key fees and limits to know about - you can also get more details in the Panda Remit app:

Service fee or limit type	Panda Remit transfer fees and limits
Account registration	Free
Transfer fee	Variable e.g. 10 SGD (China)³ and 15 SGD (Malaysia⁴, India⁵) Promotional fee waivers may apply for first transfer
Receiving fee	No fee from Panda Remit (recipient bank may charge)
Maximum transfer	Typically 6,000 SGD⁶ Additional limits may apply depending on route

*Details correct at time of research - 23rd February 2026

Panda Remit vs Wise: Exchange rate comparison

The Panda Remit exchange rate depends on the currency you’re sending. New customers may benefit from preferential rates and lower costs - which means that to see the exact rates and fees involved with your transfer, you’ll need to register an account and log in to model your payment.

Example: Sending 1000 SGD to MYR

To give an example, let’s look at how a transfer works when sending a payment of 1,000 SGD to MYR, to be received into a bank account in Malaysia, with Panda and another provider - Wise:

	Panda Remit	Wise
Exchange rate	1 SGD = 3.0834 MYR	1 SGD = 3.0744 MYR
Transfer fee	15 SGD (waived for first transfer - promo)	3.95 SGD
Receive amount (without promo)	3037.15 MYR	3,062.29 MYR

Details correct at time of research - 23rd February 2026

Example: Sending 1000 SGD to INR

Here’s a look at the same comparison when sending 1,000 SGD to INR to be received to a bank in India:

	Panda Remit	Wise
Exchange rate	1 SGD = 71.9459 INR	1 SGD = 71.8057 INR
Transfer fee	15 SGD (waived for first transfer - promo)	5.10 SGD
Receive amount (without promo)	70,866.7 INR	71,439.49 INR

*Details correct at time of research - 23rd February 2026

The waived 15 SGD fee applies only to the introductory transfer. After the promotion ends, standard fees apply, which may change the comparison.

Wise applies its mid-market exchange rate and low, transparent fee to every transfer.

Want to see how much your transfer would cost with Wise?
Use the pricing calculator below to estimate your transfer fees and exchange rate in real time.

Need to send money abroad? Use Wise for quick transfers at the mid-market rate

Wise international money transfers can be set up online or within the Wise app with low fees from 0.26% and the mid-market rate, to over 140+ countries. There’s no markup added to the exchange rate that’s used to convert your currency, which makes it easier to see exactly what you're paying for a transfer, and what the recipient will get in the end. Just transfer the amount indicated in SGD and let Wise do the rest.

Track your transfers easily when you create a free Wise account, and manage, hold, and convert your money in SGD and 40+ other currencies. You'll get the same great rates, and be able to track your transfers all from one place. As a bonus, you can also get 8+ local account details to be able to receive money in SGD, USD, GBP, and more.

✍️ Sign up for a free account now

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Sources:

1. Panda Remit
2. Panda Remit tutorial
3. Panda Remit send money to China
4. Panda Remit send money to Malaysia
5. Panda Remit send money to India
6. Panda Remit FAQ - create order