Panda Remit Review & Features | CompareRemit
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Spotlight: Panda Remit

Updated on April 27, 2023 10:14 am
panda remit

Panda Remit is an international remittance company that is leaping into the market with the goal of offering the best rates and lowest fees. At a fraction of the cost in comparison to other remittance services, plus 24/7 customer support and zero fees on your first transfer, they are quickly making headway in the remittance marketplace. They are constantly growing, now offering remittance services to over 30 countries and are continuing to launch new corridors. When choosing Panda Remit, you can expect to receive excellent customer service, ease of use, and no hidden fees.

Panda Remit was founded in Hong Kong by Wo Transfer (HK) Limited and is backed by a very large investment firm, Sequoia Capital. The company was also accepted into the Mastercard Start Path Program back in 2020. Since launching in China, they have rapidly entered international markets including North America, Asia, and Europe since their inception in 2018. Today, their services are utilized by millions across the globe.

Key Features of Panda Remit

Panda Remit is an online remittance service that prioritizes its customers. The user's ability to send and receive money in more ways is of the utmost importance. They also offer a 100% money transfer guarantee, which means that if your transaction falls through, you don't pay any fees or costs, unlike most other remittance services.

Additional Benefits Include:

  • No sending fees on your first transfer
  • Ability to send money to over 30 countries
  • Receive money via E-wallets, bank cards, and cash pickup options
  • Send money via mobile banking, bank cards, and online payment systems
  • Completely safe and secure backed by industry-standard security protocols and encryption to protect your personal data
  • Send money in as fast as 2 minutes
  • Easy-to-use mobile application
  • 24/7 customer support
  • No hidden fees

How to Use Panda Remit

Start using Panda Remit today by following these easy steps:

  1. Open up a free Panda Remit account by downloading the Panda Remit application for IOS or Android.
  2. When you open up the app, click the button in the bottom right corner that looks like the silhouette of a person.
  3. At the top of the page, click the "Login/Registration" link.
  4. Create your free account by selecting the country/region you will be sending money from.
  5. Next, enter in your phone number or email address - whichever you prefer to create an account with.
  6. You will receive a verification code either via email or phone, depending on what was used to create your account.
  7. Enter the verification code and agree to their terms and conditions to continue.
  8. You will then be prompted to create a password.
  9. Next, the app will ask you for Remitter Information. Fill out the form with your personal information, including your name and home address.
  10.  Afterwards, you will need to upload a required personal identification document such as your passport, driver's license, or ID card for verification.
  11. You will then be able to send your first transfer!

How to complete your first transfer:

  1. Select transfer details including the receiving country and the amount you want to send.
  2. Create your recipient's profile with their information and receiving method.
  3. Select the sending method by choosing from the supported options of the sending country.
  4. Confirm your transfer - please note that most transfers take around one working day.
  5. Track your transaction's status through the app!

If you experience any issues while using Panda Remit, don't hesitate to reach out to their customer service support team at They offer customer support 24/7 and will be happy to assist you. There is a reason why they have over 50,000 high-rated reviews and have a 4.9/5 score on Trustpilot.

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Send money instantly online or using your smartphone today using one of the most trusted remittance services globally - Panda Remit.

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Sometimes there is a lack of transparency in transfer fees, as evidenced by the possibility of hidden fees in the form of a marked-up exchange rate.Banks are a convenient option, but they are often expensive and offer poor exchange rates.Will CAD To INR Increase Or Decrease?As of today, CAD to INR exchange rate is 61.14. According to, the CAD to INR is likely to increase in the long term, reaching 75.051 in 5 years. Transfer CostsInternational money transfer costs vary depending on the mode of payment, transfer speed, transfer amount, the money transfer provider, the delivery method, and the destination country. It can range from $0-$30 or more. Banks tend to charge more and may have correspondent bank fees, or other hidden charges you are unaware of that can add up to your expenses.The transfer fees can be a percentage of the amount being sent or a flat fee per transaction. 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Instant cash pickups are more expensive than transfers to a bank account, where the money may take several days to be deposited.Transfers funded by credit cards are quicker than bank account-funded transfers. If you are not in a rush, look for a cheaper option when comparing the offers from various money transfer providers.SafetyProtection of the funds and prevention of fraud is top priorities during money transfers. Banks and money transfer companies are required to abide by laws and regulations set forth by national and international governing organizations, such as Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter-Terrorist Financing (CTF) (ATF). To ensure the safe and secure transit of payments, every authorized money transfer company has put in place several security measures, including SSL encryption and two-factor authentication. 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It has 13 million users and counting worldwide. To send money in CAD to India, Wise charges a small, flat fee of 1.78 CAD+ 0.62% of your transfer amount that's converted, which is shown upfront, and the money is exchanged using the real rate (the ones you see on Google or Reuters). Wise claims to be 8X times cheaper than banks. You can fund your transfer by 4 payment methods:Direct Debit Debit Card Credit CardBank Transfer Wise can send money within one day or almost instant. But the payment method or certain security checks can affect the transfer speed. Bank account-funded transfers are cheaper but slower, while transfers funded by debit cards or credit cards are costly but faster.    You can check the transfer limits for your currency pair on their calculator. Western UnionWestern Union is the largest and the oldest money transfer company in the world, with more than 145 years in service. Its headquarter is located in Denver, Colorado.There are two ways to send money to India from Canada with Western Union.Directly transfer to bank accounts in India by registering online or through their app.In-person transfer at agent locations for Cash pick up in IndiaWestern Union has more than 111,0001 agent locations in India, which offers flexibility for your friends and family to opt for Cash pick-up. You can pay using your bank account, Visa debit card, or your credit card. Use their price estimator tool to get an idea of how much it costs to send money to India. This will show you the transfer fees, exchange rates between the Canadian dollar and the Indian rupee, and the transfer limits that might apply to your money transfer.  RemitlyRemitly is another popular online-based money transfer platform located in Seattle, especially founded to provide affordable and convenient money transfer services to immigrants. Remitly has multiple receive options for recipients in India. You can transfer money directly to over 130 bank accounts, including SBI, HDFC, Citi Bank, Axis Bank, or more than 20 banks using UPI (virtual payments) either by signing up online or through the Remitly app. Your recipient can also pick up their money at 100,000+ cash pick-up locations, including Punjab National Bank, EbixCash, Weizman Forex, Muthoot Fincorp, and more. You can fund your transfer using a bank account, debit card, and credit card.Remitly offers two modes of transfer based on speed:Express mode: Receive money within minutes Economy mode: Receive money within 3-5 business daysThere are no transfer fees for sending CAD 500 or more, and the promotional FX rate applies to the first $999 of the transfer. Check here for Remitly exchange rates and fees. Panda RemitPanda is an FCA-regulated online-based money transfer platform located in Hong Kong that provides fast and convenient remittance services. You pay no fees on your first transfer with Panda Remit and can receive the money within minutes or at the least within 1-3 working days. The transfer speed will vary depending on the payment method and the delivery method. You can initiate your transfer by signing up online or on their app using your phone number or email address. Panda Remit allows you to pay with a debit card, ACH bank transfer, and ATM transfers. The money can be received either in a bank account or a debit card. Check live rates from Panda Remit by using their online calculator. Enter CAD to INR currency pair, enter the transfer amount, and the calculator will show you how much money your recipient will get. You will also get to see the applied exchange rate and the transfer fees charged for your transfer. There are no hidden fees with Panda Remit.Make use of Referral bonuses and discounts to save money on transfer costs. InstaremInstarem is one of the most cost-effective remittance services, especially for small transfers. The delivery is usually instant or same-day transfer. You get the real exchange rate and no hidden charges. To initiate the transfer, sign up for a free account online or on the Instarem app with your email or Google, or Facebook ID. Instarem support multiple payment methods, including debit/credit card, bank transfers, and wire transfers. And multiple pay-out options via card, bank account, and cash. Your recipient doesn't need to have an Instarem account to receive money. Check the live rates and fees on their currency converter before you send the money. Simply enter the send amount and select the send and receive countries (in this case, Canada and India, respectively). You will see the exchange rates and fees for your transfer upfront. Also, earn Instapoints with your transactions to save money in your subsequent transfers. XE Money TransferSending money from Canada to India is quick and easy with XE money transfer. Simply sign up for a free XE account or on the XE app to initiate the transfer to your recipient's bank account in India. XE is a Canada-based online international remittance service provider. It offers free tools to check live currency rates, view historical charges for currency pairs, and set alerts for desirable rates.You can pay for your transfers using direct debit, bank transfers, and card payments. It can take 1-4 working days for your money to arrive in India, though it typically arrives more quickly. Depending on the amount you send to India, XE charges a small fee that you will see before you confirm your transfer. You can send up to $500,000 (or the currency equivalent) to India from Canada online.  ICICI Bank Money2India Money2India is a subsidiary of one of India's largest banks, ICICI Bank. You can transfer funds from Canada to India from your ICICI Bank NRI account, or your account opened in Money2India online to over 100 banks in India. You can also sign up on the Money2India app to make the transfer hassle-free. The best part is that your recipient can receive the money within 24 hours or less. And if you transfer the money to an ICICI bank account in India, the transfer is completed in under 30 minutes.If you are transferring for the first time with Money2India, check for promotional offers on CompareRemit.Remit2IndiaRemit2India is a leading new-age online money transfer service that enables NRIs to send money to India from countries such as the United States, Canada, United Kingdom, Australia, and Ireland. You have 3 options to send your money:Direct DebitBill Payment Email Money TransferThe money gets delivered usually within 3 working days but can vary depending on the sending and receive options you choose. There is no fee for your first transfer for the transfer amount of CAD 501- CAD 200,000. A flat fee of CAD 2.99 is applied for the transfer amount of CAD 50- CAD 500.With Remit2India, you can transfer funds directly to top national banks in India, at 500,000 branches of 90 banks such as Axis Bank, ICICI Bank, State Bank of India, etc.How To Send Money From Canada To India?Once you have compared the money transfer companies and honed down on the company you want to go with, follow the basic steps below to make your transfer:Open an account online with the chosen remittance company,Provide all the personal information and documents required for identification,Set up your transfer using your recipient details and bank information in India,Enter transfer amount,Check the exchange rates and transfer fees, and transfer speed,Check if there are deals and promotions to lower your transfer costs,Select a delivery method,Pay for your transfer by choosing a payment method,Confirm all the information and press “Send”,Leave the rest to the remittance provider,Track your transfer,Check with your recipient whether they have received the money or not.Bottom-lineThere are a lot of options at your disposal when sending money overseas. All of them come with various caveats that may include exchange rates, fees, transfer speed, deals and promotion, security and privacy, and so on. The best way to help you decide which service provider to choose for your CAD to INR money transfer is to compare them side by side. CompareRemit's real-time comparison tool compares numerous banks and many money transfer companies offering CAD to Indian rupee money transfer in terms of fees, speed, exchange rates, and more. This will help you pick the service that works best for you and your transfer needs. You can sign up for free rate alerts to keep you updated with the best rates and promotions for CAD to INR money transfers.Compare CAD to INR exchange rates by using CompareRemit's online tool today!

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Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.
Personalize your CompareRemit experience with your preferred corridor and receive target exchange rate notifications, seamless transitions to partner apps, and real-time comparisons of top remittance providers at your fingertips.

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