Panda Remit review (2025): Is it safe, fees, limits

If you’re looking for a way to send money abroad, especially to China, you may have come across Panda Remit. A relative newcomer among money transfer providers, it may be the solution you’re looking for. The question is, how does it work?

This guide is going to break down what you need to know about Panda Remit to decide whether it’s right for you. We’ll look at the fees, rates, supported countries, and what you need to do to be able to send and receive money overseas.

What is Panda Remit?

Panda Remit is an international money transfer service that was founded in 2018.¹ It’s based in Singapore, and supports three types of personal transfers:

• Remittance to China - Sending money to China
• Global Remittance - Sending money between supported countries
• China Outward Remittance - Sending money from China

It supports a number of different countries for each of these transfer types, including Australia.

Is Panda Remit safe in Australia?

To keep its customers' money safe, Panda Remit encrypts and monitors all transactions.¹ They employ anti-fraud detection technology, and all transfers are traceable. On top of this, Ping An Insurance, one of the biggest insurers in China, provides coverage for 50,000 CNY per transaction, which is just over 10,000 AUD.

Panda Remit money transfer in Australia

Australians can send and receive money with Panda Remit to locations around the world. Starting with sending, this is what Panda Remit supports for Australians at the moment.¹

For receiving, Australians can currently receive from China, as well as these countries, using Global Remittance:

• New Zealand
• Singapore
• Canada
• United States
• United Kingdom
• EU Member States

Other countries may become available over time.

How to send money to China with Panda Remit

To send money with Panda Remit, either to China or another supported destination, these are the steps you need to follow:¹

1. Register for a Panda Remit account online or using the app.
2. Log into your account.
3. Complete the authentication process, which includes providing ID.
4. Enter the recipient's information.
5. Input the amount you want to send.
6. Check the fees and exchange rates.
7. Follow the prompts to select the payment method and confirm the transfer.

Once your money is on its way, you can track the progress in real time.

Currently, funds that are sent to China are sent using an Interac E-transfer, with Alipay, WeChat Pay, and UnionPay cards all being supported methods for receiving money.

How to receive money from China with Panda Remit

To receive funds from China, you can do a bank transfer or use PayID. Whichever method you want to use, make sure you give the sender your full name and account details.

Panda Remit transfer fees and limits

The fees for Panda Remit are variable, changing depending on the country or region and the payment method. For example, when you send AUD from Australia and convert it to CNY to be received in China, there’s a fee of 5.99 AUD.²

The sending limit for a single transaction also depends on the country or region.¹

If you need to send more, you can do it across multiple transactions, since there’s no limit on the number of transfers you can do.

Panda Remit’s exchange rate

Unfortunately, Panda Remit doesn’t go into great detail about their exchange rate, simply stating that it’s competitive and better than bank prices.² This doesn’t indicate whether it’s the mid-market rate or includes a markup. They also don’t show their standard rate on the website, just the promo rate for new users.

Wise handles things differently. With Wise, you get the mid-market rate, which is always transparently available on the website and in the app, essentially the rate you see on Google.

Is Panda Remit good for international money transfer?

Panda Remit is quite well regarded by users, rated 4.1 stars out of 5 on Trustpilot, with over 800 reviews. Many reviewers noted the user-friendly interface and how efficient the system was compared to the banks, with a general feeling that it was safe.

However, there are some trade-offs to consider. Panda Remit doesn’t clearly disclose its standard exchange rates online, or where the rates come from, and this lack of transparency makes it harder to know if you’re getting the best deal. Its transfer limits may also be restrictive for people who need to send larger amounts.

Overall, Panda Remit can be a good option if you’re sending money to China or another supported country and want quick transfers with relatively low fees. However, if you appreciate transparency about the exchange rates, need higher sending limits, or want to store foreign currency without converting it, alternatives like Wise could be a better value.

Save on international transfers with Wise's low fees and mid-market exchange rate

Wise is an easy way to save up to 3x when sending money overseas. You can make extra secure transfers to 140+ countries, which are easy to set up with no physical paperwork and completed usually in seconds.

With low, transparent pricing and the mid-market exchange rate for all your currency conversions for your foreign transfers, you'll usually get the best value for your money. Wise lets you see exactly what you're paying for a transfer, and what the recipient will get, with no hidden fees.

For managing foreign currencies even easier, create a free Wise account, and you'll be able to manage and convert your money in AUD and 40+ other currencies. Plus, you'll get local account details in 8+ currencies, making it easy to receive money from abroad whenever you need. You'll be able to track your transfers all in one place.

When it comes to international transfers, Wise makes things easier and cheaper.

📤 Send money with Wise

FAQs

What is Panda Remit’s contact information?

For Australian customers, you can email or call the Panda Remit Australian office using the current contact information on the local website.

How long does a Panda Remit transfer take?

Once the transfer is initiated and approved, the recipient can get the funds almost instantly. Panda Remit doesn’t give a maximum transfer time, but be aware that it can depend on the processing times of any banks that are involved.

1. Panda Remit - All you need to know
2. Panda Remit - Currency Converter
3. Trustpilot - PandaRemit