Let’s start off with an introduction.
What is Panda Remit?
Panda Remit is a money transfer company offering low-cost remittance to China and a growing network of other countries. They now cover more than 33 countries across Oceania, Asia, Europe and North America. Panda Remit advertises cheaper fees and rates than banks, faster transfer times and more convenient 24/7 service than traditional bank methods. You can access Panda Remit’s money transfer service through their app.
Panda Remit was founded in 2018 and have grown rapidly around the world with financial support from leading venture capital investment firms. They are owned by Wo Transfer Limited.
Is Panda Remit safe?
Panda Remit have the appropriate licensing to transfer money and the company adheres to the industry standard security and encryption protocol, this ensures they are a safe method of transferring money. To understand what their customers are saying about the process you can find reviews here at TrustPilot. At the time of writing, Panda Remit has a total score of 4.2, with 98% 5 star reviews. This indicates a reliable transfer service.
Are Panda Remit cheap?
Panda Remit advertise bank beating FX rates, but the best way to see how they measure up against other MTOs is to compare them. You can use our free comparison tool here to see how Panda Remit’s rates and fees compare to other companies. Just add in the send and receive country you are looking for and click compare.
How does Panda Remit work?
Panda Remit is a completely digital service, meaning that you can transfer money from your account to your recipient without having to use cash at any point. This means that transfers can happen quickly and efficiently. Panda Remit has an app that is designed to make money transfers even more convenient, storing your details and speeding up the process for those who remit regularly. This app is available on the IOS app store, google play store can be accessed through Wechat.
How to use Panda Remit.
To send with Panda Remit follow these steps:
- Download the app. You can find those links here.
- Register your profile. This will involve adding identity documents that verify the security of your account and help prevent fraud.
- Add the details of your recipient. Add the bank account details and contact information for your recipient so that your money goes to the correct place and they can be notified.
- Upload your funds. Using your bank account, load the necessary funds to complete the transaction.
- Send the money. Once the funds have uploaded you can click send!