Panda Remit review: Everything you need to know

Panda Remit has become a popular choice for US users looking to send money abroad, especially to countries in Asia. It promotes competitive exchange rates and low transfer fees, and has an easy-to-use app that lets you move money without visiting a branch.

In this review, we will look at how Panda Remit works in the US, its features, pros and cons, and what you should know about fees and safety.

We'll also introduce Wise — your international money transfer alternative. Use Wise to send stress-free transfers to over 140 countries - all at the standard mid-market exchange rate.

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Table of contents
What is Panda Remit and how does it work in the US? Panda Remit pros and cons How to open a Panda Remit account? Panda Remit international money transfer fees and rates Panda Remit features How to add money to a Panda Remit Account? Is Panda Remit safe?

What is Panda Remit and how does it work in the US?

Panda Remit is an international money transfer service that operates entirely online. Instead of visiting a branch or filling out paperwork, you can send money abroad through the Panda Remit app or website.

For US customers, the service is most often used to send money to family or friends overseas, with a strong focus on destinations in Asia. You choose the country, add a recipient, and pay using your bank account or debit card.

Transfers are tracked in real-time, and Panda Remit displays the exchange rate and fees before you confirm. The company highlights speed and convenience as key benefits, although delivery times and costs vary depending on the country and payment method used.

Panda Remit pros and cons

Here’s a quick rundown of Panda Remit’s pros and cons:

✅ Pros	❌ Cons
Competitive exchange rates compared to some traditional providers	Coverage mainly focused on Asia
Easy-to-use app and website	Limited payment methods in certain countries
Real-time tracking for transfers	No bank account or debit card services
Promotions and referral bonuses for new users	Customer support is not as extensive as that of larger providers

How to open a Panda Remit account?

If you’re at least 18 years old and live in the US, you can open a Panda Remit account online. Go to the Panda Remit website or download the app, and select the option to create a new account.

💡 You’ll be asked for:
First and last name Date of birth Email address Mobile phone number A valid photo ID (passport, driver’s license, or similar)

After submitting your details, Panda Remit will run an ID check to verify your information. This is usually completed within minutes, but in some cases it may take longer if additional documents are required.

Once verified, you can add a payment method. In the US, this typically means linking a bank account or using a debit card. Bank transfers may take longer to clear, while card payments can allow you to start a transfer right away.

Panda Remit international money transfer fees and rates

Panda Remit currently waives transfer fees, so you can send money without paying a flat charge. Instead, the main cost is the exchange rate margin. Based on recent reviews, Panda Remit’s FX markup usually falls between 0.02% and 0.62%, which is lower than many competitors.¹

You’ll always see the applied rate and total payout before confirming your transfer. This makes it easy to compare Panda Remit’s price against other providers.

Fee type	Cost
Account opening fee	$0
Monthly fees	$0
Transfer fee	$0
Exchange rate margin	0.02% – 0.62%

Panda Remit international money transfer: coverage, speed, and limits

Panda Remit supports transfers to 40+ countries/regions, with its strongest coverage in Asia.² Popular routes include the US to China, India, Vietnam, and the Philippines. Beyond Asia, coverage is expanding but still narrower than some larger providers.

Delivery speed depends on the payment method you choose. Transfers funded by debit card can clear in as little as two minutes, while most bank transfers arrive within 1–3 business days.³ Panda Remit shows you the expected arrival time before you complete your transfer.

Unlike some providers, Panda Remit does not set strict maximum transfer limits. You can send large amounts if your account is verified, but local rules still apply.

For example, Chinese residents are limited to receiving up to $50,000 per year from overseas due to currency regulations.

Panda Remit features

In this segment, we’ll review the main features you can use with Panda Remit in the US.

Flexible payout options

Recipients can get money straight into their bank account, but Panda Remit also supports local payout methods in certain countries.

• In China, you can send funds to Alipay or WeChat
• In the Philippines, GCash is supported
• In some countries, debit card payouts and cash pick-up are available

These options make Panda Remit attractive if your recipient prefers a mobile wallet or doesn’t always use a traditional bank.

Multiple ways to fund transfers

From the US, you can pay for your transfer with a debit card or an ACH bank transfer. In other sending countries, Panda Remit also supports options like Poli in Australia and New Zealand.

Having different payment methods can help you balance between speed and cost.

Promotions and rewards

Panda Remit offers ongoing deals to help lower the cost of sending money. These include referral bonuses, cashback coupons, and fee-free transfers for new users.

Promotions vary by country, so it’s worth checking the latest offers before you send.

Global corridor coverage

While Panda Remit is best known for strong coverage in Asia, it supports over 40 destination countries/regions and nearly 500 source-to-destination combinations worldwide.⁴

This growing network means you can use the same platform for multiple remittance routes, rather than switching providers.

How to add money to a Panda Remit Account?

Unlike some providers, Panda Remit doesn’t store a balance in your account. Instead, you choose how to fund each transfer at the time you set it up. This keeps things straightforward and means you only move money when you need to.

In the US, there are two main funding options: debit cards and ACH bank transfers. Both can be used through the Panda Remit website or app, but they differ in speed and cost.

Debit card

Paying with a debit card is usually the fastest method. Once your payment is confirmed, Panda Remit can start processing the transfer right away. In some cases, funds arrive with your recipient within minutes.

This makes debit card payments a good choice for urgent transfers. However, card payments may involve higher costs than bank transfers, so it’s worth checking the calculator before you send.

ACH bank transfer

An ACH transfer is generally slower, but it may be cheaper. When you connect your US bank account, money is pulled directly from it and delivered to your recipient once cleared.

ACH payments often take 1–3 business days. If you’re sending a larger amount and timing is less urgent, ACH is often the better value.

Local payment methods outside the US

If you’re sending money from other supported countries, Panda Remit also offers local payment methods. For example, Poli is available in Australia and New Zealand, while ATM transfers are supported in parts of Asia.

These options provide flexibility depending on where you’re sending from.

It’s a good idea to use Panda Remit’s calculator before you send. It shows the available funding methods, the exchange rate, and the total amount your recipient will receive. This helps you balance speed and cost on every transfer.

Is Panda Remit safe?

Panda Remit is a regulated money transfer provider. In the US, it’s registered with the Financial Crimes Enforcement Network (FinCEN) and works with Community Federal Savings Bank to process payments, ensuring it operates under strict US financial regulations.

The company highlights several measures designed to keep customer funds and information secure.⁵

• PCI DSS certification: Panda Remit has passed the global payment card industry and data security standard, covering hundreds of checks across the network, application, and system security
• Bank-level encryption: All data is transmitted securely, and customer information is kept private in line with local regulations
• Legal compliance oversight: Business processes are monitored by King & Wood Mallesons, a leading international law firm
• Full transfer tracking: Users can follow each step of their transaction in real time through the app, providing transparency that traditional remittance services often lack
• Reputable investors: Backing from Sequoia Capital and Lightspeed adds further credibility to Panda Remit’s operations¹

Panda Remit also guarantees that transfers will complete successfully, provided identity checks are passed and documents are submitted where required.

As with any provider, once money is delivered, it cannot usually be reversed, so it’s important to only send funds to people you know and trust.

Bottom line

Panda Remit stands out for US customers who need to send money to Asia. Zero fees, low exchange rate margins, and fast debit card transfers make it an appealing choice, especially for routes like China, India, or the Philippines.

Still, its reach is narrower than that of bigger providers, so it’s worth comparing if you’re sending beyond Asia.

Wise can help you get a better deal on currency conversion. You can convert over 40 currencies at the standard mid-market exchange rate, and we'll show you the fees upfront so you know exactly how much you're paying.

Learn more about Wise

Sources

1. Compare Remit – Panda Remit
2. Panda Remit – a Global Service
3. Item-PandaRemit – Transfer money from a Canadian bank to a US bank account
4. Remit Finder – Where can I send money to with Panda Remit?
5. Panda Remit – Security

Sources checked 09/23/2025