Instarem vs Currency Solutions: Fees & Reviews Compared

Both Instarem and Currency Solutions are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	Instarem	Currency Solutions
Homepage
Transfer Fee	Depends on the selected countries, the transfer amount, and the selected payment method.	£10.00 fee for transfers below £3,000; £0.00 fee for transfers above £3,000.
Average Exchange Rate Markup	0.3% – 0.6%	0.5% – 1%
Minimum Transfer Amount	$1 ($50 for India)	£100
Maximum Transfer Amount	Depends on the origin country and the selected payment method.	No limit for transfers over the phone Online transfers £20,000 for personal accounts £50,000 for business accounts

Reviews

	Instarem	Currency Solutions
Trustpilot Rating	4.4	4.7
Number of Trustpilot Reviews	8,000	2,500
iOS App Rating	3.7	N/A
Number of iOS App Reviews	530	N/A
Android App Rating	4.3	N/A
Number of Android App Reviews	7,800	N/A

Features

	Instarem	Currency Solutions
App Transfers	Yes	No
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	60	160
Number of Currencies	30	40
Payment Methods	Bank account Debit card Credit card PayNow PayID POLi FPX Interac	Bank account Debit card
Receiving Methods	Bank account Alipay wallet in China Cash pickup in the Philippines	Bank account
Cash Pickup Option	Only for the Philippines	No
Payments Flexibility	Web platform Mobile app	Web platform Phone
Supported Languages	English	English
Transfer Speed	1-2 days	3 hours-2 days
Dedicated Dealer	No	Yes
Instant Custom Quote	Yes	No
Business Features	Bulk Payments	Spot contracts Forwards contracts Market orders Options contracts Risk management Recurring transfers API integration
Debit Card	amaze by Instarem	None
Cancellation Policy	Without a cancellation fee if the transfer hasn’t been processed. Contact customer services to discuss cancellation if the transfer has been processed.	The company allows for transfers to be canceled and refunded if the transaction hasn’t been completed. Refunds may be subject to exchange rate changes and additional charges depending on the circumstances.
Suitability	Small money transfers	Small and large money transfers

Company Comparison

	Instarem	Currency Solutions
Year Founded	2014	2003
Headquarters	Singapore	London, UK
Other Office Locations	Canada, the United States, the United Kingdom, Lithuania, India, Hong Kong, Japan, Malaysia, Indonesia, and Australia	Amsterdam (the Netherlands), Dublin (Ireland), and Paphos (Cyprus)
Annual Trading Volume	$3 billion	£1 billion
Number of Employees	300	70
Number of Clients	1 million	150000
Regulatory Institutions	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia The Bank of Lithuania in the EU MAS in Singapore CED in Hong Kong Central Bank of Malaysia in Malaysia Bank of Indonesia in Indonesia Kanto Local Finance Bureau in Japan Reserve Bank of India in India	FCA in the UK
Awards	Singapore Fintech Award (Singapore Fintech Festival, 2017) FinTech Rising Star Award (India FinTech Awards, 2017) Outstanding Digital Cross-Border Money Transfer Service (India FinTech Awards, 2017) Blockchain Innovator Award (Swell by Ripple, 2018) Excellence in Payments (Fintech Australia, 2018) Best Value International Money Transfer Provider Award (Mozo Experts Choice, 2020 and 2021)	The Best Currency Transfer Provider (Trade Finance Global Currency Awards, 2016) Top-rated International Money Transfer Provider (Trustpilot, 2017 – 2020)

Instarem Pros & Cons

Instarem Pros

• A wide array of payment choices
• Exceptional customer service
• High rating on Trustpilot
• Instant, free quotes providing transparency and avoiding hidden costs
• Attractive foreign exchange rates
• Quick money transfers
• Exclusive amaze card
• Robust mobile app for easy access
• International service reach covering over 60 countries
• Broad currency coverage

Instarem Cons

• Not ideal for large financial transfers
• Limited support for multiple languages
• Limited support for less common, exotic currencies
• No cash pickup options (only available for residents in the Philippines)
• No hedging tools such as forward contracts or limit orders for businesses

Currency Solutions Pros & Cons

Currency Solutions Pros

• Outstanding customer support
• Impressive Trustpilot rating
• Fee-free transfers for larger amounts
• Competitive exchange rates
• Service availability in over 160 countries
• Robust currency offerings with support for 40+ global currencies
• Longstanding industry experience
• Quick fund transfers
• Advanced business FX features, including market orders and options contracts for effective currency risk management
• Personalized service through dedicated account managers

Currency Solutions Cons

• Charges apply for smaller transfer amounts
• Lack of a mobile application
• Limited availability of exotic currencies
• Lack of an instant quote feature
• Customer support is not available around the clock

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