Panda Remit review
3.90 Kredly scoreCompare Panda Remit's fees, exchange rates, transfer speeds, and security. Understand customer service quality and how it impacts international transfers.
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Pros
- Fast transfer speeds
- often within minutes
- Competitive exchange rates
- potentially better than traditional banks
- User-friendly mobile app for convenient transfers
- Broad coverage to over 40 countries/regions
- Transparent fees for many transactions
Cons
- Inconsistent and often unresponsive customer service
- Potential for delayed refunds and issues with failed transactions
- Strict documentation and verification requirements can cause delays
- especially for new users
- Some users report difficulty with transfers during weekends or public holidays
- Exchange rates and fees for new users may not reflect actual costs for long-term use
About Panda Remit
Panda Remit leverages technology to provide a streamlined experience for global money transfers, aiming to be both cost-effective and swift. With a mission to simplify international remittances, Panda Remit allows users to send money from their mobile phones to over 40 countries and regions worldwide, including popular corridors like Australia to China, or transfers within Europe and to India and Thailand. Their platform emphasizes low-cost transfer fees and competitive exchange rates, often surpassing those offered by traditional banks.
Customers frequently highlight the application's ease of use and the impressive speed of transfers, with many transactions completing within minutes. This rapid service is particularly beneficial for those needing to send money urgently or regularly, such as expatriates and individuals supporting families abroad. Panda Remit supports various payment methods and offers broad payout options, including direct bank deposits to over 500 banks, aiming to maximize recipient convenience. The service boasts a significant customer base, having processed millions of transactions and saved users substantial amounts of money and time.
Despite its advantages, user feedback indicates areas for improvement, particularly regarding customer support. While many appreciate the platform's efficiency, some users have reported challenges with unresponsive customer service, delays in resolving failed transactions, and a perceived lack of transparency when issues arise. Panda Remit is regulated by local authorities in various regions, including AUSTRAC in Australia, and is backed by investors like Sequoia Capital, underlining its commitment to security through measures such as Payment Card Industry Data Security Standard compliance. New users might find introductory rates appealing, but long-term users should verify current rates and fees to ensure continued value.
Panda Remit offers we're tracking now
| Destination | Fee | Markup | Speed | Recipient gets |
|---|---|---|---|---|
| 🇦🇺 Australia | $40.00 | — | Not stated | A$1,372.30 |
| 🇧🇩 Bangladesh | $40.00 | — | Not stated | BDT 117,947.50 |
| 🇧🇷 Brazil | $40.00 | — | Not stated | R$4,883.30 |
| 🇨🇦 Canada | $40.00 | — | Not stated | CA$1,342.50 |
Each destination links to the full offer comparison. Methodology
Is Panda Remit safe?
Check the legal entity, regulator, safeguarding terms and complaint process that apply in your jurisdiction. A provider's availability and protections can vary by country.
Read our safety checklist →FAQ
Is Panda Remit safe for international transfers?
Panda Remit states it is regulated by local authorities in various regions, including AUSTRAC in Australia, and is backed by investors like Sequoia Capital. They also mention Payment Card Industry Data Security Standard compliance, suggesting security measures are in place to protect transactions and user data.
How long do Panda Remit transfers take?
Panda Remit frequently processes transfers within minutes. However, some users have reported delays, especially around weekends or public holidays, and for new users due to strict documentation and verification requirements. Verify current transfer times, especially for urgent needs.
What are Panda Remit's fees and exchange rates?
Panda Remit emphasizes low-cost transfer fees and competitive exchange rates, often surpassing those of traditional banks. They claim transparent fees for many transactions. However, some users note that introductory rates for new users may not reflect actual costs for long-term use, so it's advisable to check current rates and fees.
Which countries does Panda Remit support?
Panda Remit supports transfers to over 40 countries and regions worldwide. Popular corridors include Australia to China, and transfers within Europe, to India, and Thailand. Check their website or app for a comprehensive list of supported destinations.
What are Panda Remit's customer service reviews like?
User feedback indicates inconsistent and often unresponsive customer service. Some users have reported challenges with unresponsive support and delays in resolving failed transactions or issuing refunds. This suggests that while transfers can be fast, getting help with issues might be difficult.