Send Payments vs Instarem: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	Send Payments	Instarem
Homepage
Transfer Fee	No fee	Depends on the selected countries, the transfer amount, and the selected payment method.
Average Exchange Rate Markup	0.01	0.3% – 0.6%
Minimum Transfer Amount	AU$250	$1 ($50 for India)
Maximum Transfer Amount	No limit (AU$25,000 for recurring, daily transfers).	Depends on the origin country and the selected payment method.

Reviews

	Send Payments	Instarem
Trustpilot Rating	4.9	4.4
Number of Trustpilot Reviews	250	8,000
iOS App Rating	N/A	3.7
Number of iOS App Reviews	N/A	530
Android App Rating	N/A	4.3
Number of Android App Reviews	N/A	7,800

Features

	Send Payments	Instarem
App Transfers	No	Yes
Online Transfers	Yes	Yes
Phone Transfers	Yes	No
In-person Transfers	No	No
Available Countries	180	60
Number of Currencies	37	30
Payment Methods	Bank account PayID POLi	Bank account Debit card Credit card PayNow PayID POLi FPX Interac
Receiving Methods	Bank account	Bank account Alipay wallet in China Cash pickup in the Philippines
Cash Pickup Option	No	Only for the Philippines
Payments Flexibility	Web platform Phone	Web platform Mobile app
Supported Languages	English	English
Transfer Speed	0-2 days	1-2 days
Dedicated Dealer	Yes	No
Instant Custom Quote	No	Yes
Business Features	Spot contracts Delayed contracts Limit orders Stop-loss orders Recurring transfers	Bulk Payments
Debit Card	None	amaze by Instarem
Cancellation Policy	Most money transfers can be canceled upon contacting Send Payments. Note that transfers that have been completed are seldom refunded.	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 and large money transfers	Small money transfers

Company Comparison

	Send Payments	Instarem
Year Founded	2018	2014
Headquarters	Gold Coast, Queensland, Australia	Singapore
Other Office Locations	Sydney and Melbourne (Australia)	Canada, the United States, the United Kingdom, Lithuania, India, Hong Kong, Japan, Malaysia, Indonesia, and Australia
Annual Trading Volume	AU$200 million	$3 billion
Number of Employees	60	300
Number of Clients	N/A	1 million
Regulatory Institutions	ASIC and AUSTRAC in Australia	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	Best International Money Transfer Provider (Mozo Experts Choice Awards, 2020) Finnies Finalist (FinTech Australia Awards, 2020) Most Promising Money Transfer Service for 2022 (MoneyTransferComparison, 2022)	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)

Send Payments Pros & Cons

Send Payments Pros

• A large selection of payment methods
• Top-tier customer service
• Stellar Trustpilot score
• No transfer fees
• Favorable exchange rates
• Fast money transfers
• Personalized care with dedicated account managers
• Customizable business tools including stop orders, limit orders, and delayed contracts
• 180 countries available
• Slick web design

Send Payments Cons

• No option for cash pickup
• A minimum limit of AU$250 for transfers
• A small selection of rare or exotic currencies
• No option for instant, tailored quotes
• No mobile app

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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