Panda Remit: How to Exchange USD to INR and Receive Money Using UPI ID?
USD INR ₹ 82.69
GBP INR ₹ 102.49
CAD INR ₹ 60.43

Exchange USD to INR Using Panda Remit UPI ID

Updated on February 15, 2023 03:15 pm
indian rupee

For those studying or working abroad, sending money from abroad to relatives and friends in India is an unavoidable daily activity. Thanks to technological advances, it is now possible to send money quickly to family members using a smartphone at a fraction of traditional remittances. Of course, the premise is that you have to choose the appropriate transfer platform. Since exchange rates vary from country to country, plus processing fees, the transfer amount will also vary. 

This is where panda money comes in. This is one of the best ways to convert dollars to Indian rupees quickly, easily, and securely. This article introduces the advantages of Panda Remit to Indian Rupees in terms of the exchange rate, transfer fees, processing speed, etc. It uses it in combination with UPI, India's most popular payment method.

Why Choose Panda Remit to Convert USD to INR?

Please note that during the currency exchange process, there will be problems such as exchange rate fluctuations, high transfer fees, headaches in transfer speeds, and inability to receive payments with commonly used local payment methods. Panda Remit stands out in the market precisely because it offers a solution to all the above problems.

Exchange Rate and Remittance Fee

Compared to banks and most of their competitors, Panda Remit has excellent market rates because it is entirely online and has no physical branches, with lower operating costs. So they try to pass some of the savings on to their customers. Also, on your first order of converting USD to INR with Panda Remit, you will get one of the highest exchange rates in the entire market to help you convert your currency.

For new users, Panda Remit's first transaction fee is free. Also, Panda Remit is actively taking, so various promotional discounts are regularly sent to customers.

You can easily check the live exchange rate of Panda Remit using the online calculator. Select your country/currency pair and enter your transfer amount; the calculator will show how much your recipient will receive. You can also view applicable exchange rates and fees.

Processing Speed

Panda Remit transfer speed depends on the selected payment method and recipient. Typically, transfers are complete within 1-3 business days, and your money reaches the recipient within up to 10 minutes. Panda Remit takes time to verify your information to keep your funds safe, so it takes longer for new users. Delays may also occasionally occur due to bank opening hours and bank holidays.

Please ensure you provide all required documentation when submitting your transfer. Missing or incomplete documentation can also delay compliance checks and fraud screening processes.

Transfer Limit

With Panda Remit, there is no limit to the amount you can send or the number of transfers.

You just need to ensure that your local regulations and legal requirements are met. For example, under the MTSS agreement, a single recipient in India can receive 30 MTSS transfers per year, capped at $2,500 per transfer.

Please note that Panda Remit may ask you to provide additional documents to facilitate your remittance. This is to comply with legal regulations and for your safety.

Customer Service

Panda Remit provides 7*24 hours of customer service. You can find online customer service in the app when you encounter problems with transfers. You can also contact Panda Remit's customer support team via email or WhatsApp.

Payment and Collection Methods

Conveniently, Panda Remit supports various payment methods, such as debit cards, ACH bank transfers, and ATM transfers.

The method you use to get your recipient to pay is a delivery method or delivery option. Panda Remit supports a variety of delivery methods, including some local methods in some countries. In India, Panda Remit has a fully supported UPI collection, which means you can easily and quickly convert USD to INR just by using your UPI ID.

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