WorldRemit vs Instarem: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	WorldRemit	Instarem
Homepage
Transfer Fee	$0.99 – $3.99 depending on the transfer amount and the selected countries and payment methods.	Depends on the selected countries, the transfer amount, and the selected payment method.
Average Exchange Rate Markup	1% – 1.6%	0.3% – 0.6%
Minimum Transfer Amount	$1	$1 ($50 for India)
Maximum Transfer Amount	Depends on the selected countries and method of payment (ranges between $1,400 and $60,000).	Depends on the origin country and the selected payment method.

Reviews

	WorldRemit	Instarem
Trustpilot Rating	4.1	4.4
Number of Trustpilot Reviews	78,800	8,000
iOS App Rating	4.8	3.7
Number of iOS App Reviews	172,000	530
Android App Rating	4.6	4.3
Number of Android App Reviews	179,000	7,800

Features

	WorldRemit	Instarem
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	No
In-person Transfers	No	No
Available Countries	145	60
Number of Currencies	70	30
Payment Methods	Bank account Debit card Credit card Apple Pay Interac iDeal Trustly Klarna SOFORT POLi	Bank account Debit card Credit card PayNow PayID POLi FPX Interac
Receiving Methods	Online wallet Bank account Cash pickup Home delivery	Bank account Alipay wallet in China Cash pickup in the Philippines
Cash Pickup Option	Yes	Only for the Philippines
Payments Flexibility	Web platform Mobile app	Web platform Mobile app
Supported Languages	English, French, German, Danish, Dutch, and Spanish	English
Transfer Speed	0-2 days (within minutes in 95% of cases).	1-2 days
Dedicated Dealer	No	No
Instant Custom Quote	Yes	Yes
Business Features	N/A	Bulk Payments
Debit Card	None	amaze by Instarem
Cancellation Policy	Only when the transfer hasn’t been paid out. Bank and mobile wallet transfers may be refunded even after the transfer is completed if the recipient agrees to the refund.	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

	WorldRemit	Instarem
Year Founded	2010	2014
Headquarters	London, UK	Singapore
Other Office Locations	Poland (Krakow), USA (Denver), Philippines (Cebu), Australia (Sydney), Belgium (Brussels), Japan (Tokyo), Kenya (Nairobi), Malaysia (Kuala Lumpur), Rwanda (Kigali), Singapore, South Africa (Johannesburg), Somaliland (Hargeisa), Tanzania (Dar Es Salaam), Uganda (Kampala), and Canada (Toronto)	Canada, the United States, the United Kingdom, Lithuania, India, Hong Kong, Japan, Malaysia, Indonesia, and Australia
Annual Trading Volume	$10 billion	$3 billion
Number of Employees	1800	300
Number of Clients	5.7 million	1 million
Regulatory Institutions	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia National Bank of Belgium in EU FSPR in New Zealand FSA 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	Best Practice in Remittances for Development by IFAD (United Nations Agency, 2015) Technology Fast 50 (Deloitte, 2015, 2016, and 2017) Tech Track 100 (Sunday Times, 2016, 2017, 2018, and 2019) Excellence in Transformational Business (FT/IFC Transformational Business Awards, 2017) EY Entrepreneur Of The Year (2016) Bronze Award (European Contact Centre & Customer Service Awards, 2019) The Powerlist (BBC, 2020) Best for International Transfers (Best Money Transfer Apps – Investopedia, 2021 and 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)

WorldRemit Pros & Cons

WorldRemit Pros

• Many payment methods
• Competitive foreign exchange rates
• Small transaction fees
• Excellent policy for transfer cancellations
• Instant, personalized cost estimates
• Cash pickup services available
• Mobile digital wallet features
• Comprehensive global service availability
• Strong coverage of over 70 unique currencies
• Wide local presence with offices in 15 nations
• Quick funds transfers
• Comprehensive and informative knowledge base

WorldRemit Cons

• Not ideal for transferring large sums of money
• No personal account managers available
• Lacks business solutions like forward contracts and limit orders
• Numerous criticisms pertaining to customer service

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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