Revolut vs Instarem: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	Revolut	Instarem
Homepage
Transfer Fee	No fee for transferring to other Revolut users Card transfers: 0.7% (if you’re in Europe), 2.3% (outside Europe) Bank transfers: fees can range between 0.35% and 1%	Depends on the selected countries, the transfer amount, and the selected payment method.
Average Exchange Rate Markup	0.5% – 2%	0.3% – 0.6%
Minimum Transfer Amount	$1	$1 ($50 for India)
Maximum Transfer Amount	Depends on the selected plan, the sending country, and the recipient country.	Depends on the origin country and the selected payment method.

Reviews

	Revolut	Instarem
Trustpilot Rating	4.3	4.4
Number of Trustpilot Reviews	138,000	8,000
iOS App Rating	4.7	3.7
Number of iOS App Reviews	37,000	530
Android App Rating	4.5	4.3
Number of Android App Reviews	2,400,000	7,800

Features

	Revolut	Instarem
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	No
In-person Transfers	No	No
Available Countries	200	60
Number of Currencies	29	30
Payment Methods	Bank account Debit card Credit card	Bank account Debit card Credit card PayNow PayID POLi FPX Interac
Receiving Methods	Bank account Debit card	Bank account Alipay wallet in China Cash pickup in the Philippines
Cash Pickup Option	No	Only for the Philippines
Payments Flexibility	Web platform Mobile app	Web platform Mobile app
Supported Languages	English, German, Spanish, French, Portuguese, Dutch, Italian, Japanese, Chinese, Croatian, Greek, Czech, Danish, Russian, Hungarian, Polish, Slovak, Romanian, Swedish, Bulgarian, Latvian, and Lithuanian	English
Transfer Speed	Instant for Revolut users 1-2 days for the rest	1-2 days
Dedicated Dealer	No	No
Instant Custom Quote	Yes	Yes
Business Features	Forwards contracts Stop-loss orders Limit orders Analytics Payroll automation Spending management Digital multi-currency wallet Rate alerts API integration	Bulk Payments
Debit Card	Many including: Standard, Plus, Premium, Metal, Ultra, Business and Revolut <18	amaze by Instarem
Cancellation Policy	Cancellation is available as long as the transfer hasn’t been completed. Refunds may take up to 10 days.	Without a cancellation fee if the transfer hasn’t been processed. Contact customer services to discuss cancellation if the transfer has been processed.
Suitability	Small money transfers	Small money transfers

Company Comparison

	Revolut	Instarem
Year Founded	2015	2014
Headquarters	London, UK	Singapore
Other Office Locations	Berlin (Germany), Dublin (Ireland), Krakow and Silesia (Poland), Madrid (Spain), Mexico City (Mexico), Porto (Portugal), São Paulo (Brazil), Bangalore, Chennai, Gurgaon, Indore, and Mumbai (India), Singapore, Tokyo (Japan), and Vilnius (Lithuania)	Canada, the United States, the United Kingdom, Lithuania, India, Hong Kong, Japan, Malaysia, Indonesia, and Australia
Annual Trading Volume	$140 billion	$3 billion
Number of Employees	8000	300
Number of Clients	30 million personal users 500,000 business users	1 million
Regulatory Institutions	FCA in the UK ASIC in Australia The Bank of Lithuania in the EU MAS in Singapore Kanto Local Finance Bureau in Japan	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
Awards	Top Startups (LinkedIn, 2018, 2019, 2020, 2021, 2022) Fintech Company of the Year (City AM Awards, 2018) Europe’s Allstar Company (Investor Allstars Awards, 2018) Top 10 Fastest Growing Startups To Work For (Otta, 2019) Top 10 Companies Hiring Like Crazy (Glassdoor, 2019) Top Spot at Deloitte’s Tech Fast 50 (Deloitte, 2019, 2020) Top Spot at The Startups 100 (Startups, 2019) Top 10 in Tech Track 100 Companies (The Sunday Times, 2019) Featured in The Best London Startups to Work (Rocket List, 2020) Lithuania’s TOP Employers (CV Online, 2020) Innovation of The Year (British Bank Awards, 2020) Featured in Best Startups To Watch (Seedtable, 2020, 2023) Best Talent Acquisition Team (LinkedIn Talent Awards, 2021) Featured in 150 Fastest Growing Companies to Work for in America (Otta, 2021) Best FinTech Employer of the Year (SFF Global FinTech Awards, 2021) Featured in Employer Branding Stars (EBstars Awards, 2022, 2023)	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)

Revolut Pros & Cons

Revolut Pros

• Offers a full range of banking features
• Exceptional customer support
• User-friendly debit card services
• Zero transfer fees for smaller transfers
• Attractive foreign exchange rates
• Comprehensive suite of business-oriented features
• Option to trade in cryptocurrencies
• Virtual cards for secure online transactions
• Broad coverage of services globally
• Wide range of supported currencies for travelers
• Fast money transfers

Revolut Cons

• Not designed for large-scale money transfers
• Complex fee structure
• Limited scope of in-app currency support
• No cash pickup options
• A relative newcomer in the financial industry

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

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