Panda Remit vs Remitly: Fees, Rates & Speed Compared
Panda Remit
4.0Panda Remit specializes in transfers to China and other Asian markets. Competitive rates on CNY corridors with fast delivery via WeChat Pay and Alipay.
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
Panda Remit and Remitly are both popular choices for international money transfers, but they take different approaches. Panda Remit, founded in 2017 and headquartered in Hong Kong, is best known for fast, small remittances. Remitly, operating since 2011 from Seattle, USA, focuses on cash pickup and global coverage. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs.
In this comparison
Live comparison: Panda Remit vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through Panda Remit vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Panda Remit | Remitly | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹94,193.94 | N/A |
| GBP → EUR(£1,000) | — | €1,144.92 | N/A |
| USD → PHP($500) | — | ₱29,530.96 | N/A |
| USD → MXN($1,000) | — | MX$17,689.27 | N/A |
| GBP → PKR(£500) | — | ₨185,315.83 | N/A |
| USD → NGN($200) | — | ₦272,859.46 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Panda Remit and Remitly
Panda Remit vs Remitly: Feature comparison
| Feature | Panda Remit | Remitly |
|---|---|---|
| Overall rating | 4.0/5 (Good) | 4.6/5 (Excellent) |
| Fee structure | $0 - $5 depending on corridor | From $0 to $3.99 per transfer |
| Exchange rate markup | 0.2% - 1% above mid-market | 0.5% - 2% above mid-market |
| Transfer speed | Minutes to 1 day | Minutes to 3-5 days |
| Supported countries | 30+ | 100+ |
| Supported currencies | 20+ | 40+ |
| Max transfer | $50,000 | $10,000 |
| Payment methods | Bank Transfer, Debit Card | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit, WeChat Pay, Alipay | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery |
| Regulators | MSO (Hong Kong), FinCEN | FinCEN, FCA |
| Founded | 2017 | 2011 |
Pros and cons
Panda Remit
Pros
- Very competitive CNY exchange rates
- Delivery to WeChat Pay and Alipay
- Fast delivery to China
Cons
- Limited corridor coverage (Asia-focused)
- Less known outside Asian communities
- Customer support mainly in Chinese/English
Remitly
Pros
- Express transfers arrive in minutes
- Cash pickup available in many countries
- Mobile money delivery option
- First transfer promotions often available
- Home delivery in select countries
Cons
- Rates less competitive for large transfers
- No multi-currency account
- Focused mainly on remittance corridors
When to choose Panda Remit vs Remitly
Choose Panda Remit if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (Panda Remit supports up to $50,000)
- You want zero transfer fees ($0 - $5 depending on corridor)
Choose Remitly if:
- You want the real mid-market exchange rate with no hidden markup
- Your recipient needs cash pickup instead of bank deposit
- You want to send to a mobile money wallet (M-Pesa, GCash, etc.)
- You need wider country coverage (100+ vs 30+ countries)
- You want zero transfer fees (From $0 to $3.99 per transfer)
Verdict: Panda Remit or Remitly?
Cost: Too close to call
Panda Remit and Remitly are closely matched on cost. Across our 6 sample corridors, neither provider consistently delivers more to the recipient. The best choice depends on your specific corridor.
Speed: Similar delivery times
Both providers offer similar transfer speeds. Panda Remit typically delivers in Minutes to 1 day, while Remitly takes Minutes to 3-5 days. The actual speed depends on the corridor and delivery method.
Wider coverage: Remitly
Remitly has broader coverage with 100+ countries and 40+ currencies. Remitly also offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery.
Bottom line
Overall, Remitly edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, Panda Remit is the better pick if you need fast, small remittances.
Frequently asked questions
Is Panda Remit or Remitly cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows Panda Remit and Remitly are closely matched on total cost. Panda Remit charges $0 - $5 depending on corridor with a 0.2% - 1% above mid-market exchange rate markup, while Remitly charges From $0 to $3.99 per transfer with a 0.5% - 2% above mid-market markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, Panda Remit or Remitly?
Panda Remit typically completes transfers in Minutes to 1 day, while Remitly takes Minutes to 3-5 days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are Panda Remit and Remitly safe to use?
Yes, both are regulated money transfer services. Panda Remit is regulated by MSO (Hong Kong), FinCEN and has a 4.0/5 Trustpilot rating. Remitly is regulated by FinCEN, FCA with a 4.6/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Panda Remit vs Remitly?
Panda Remit has a maximum transfer of $50,000 (minimum $50), while Remitly allows up to $10,000 (minimum $1). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Can I get cash pickup with Panda Remit or Remitly?
Panda Remit offers Bank Deposit, WeChat Pay, Alipay. Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Remitly supports cash pickup for recipients without bank access.
Should I use Panda Remit or Remitly to send money internationally?
For most users, Remitly offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, Panda Remit is the better choice if you need fast, small remittances. The best provider for you depends on your corridor, transfer size, and whether you need features like Home Delivery.