Instarem vs WorldRemit Comaprison

Instarem (now part of Nium) and WorldRemit are two prominent players in the international money transfer market, offering fast, secure, and low-cost solutions for sending money across borders.

Instarem, known for its strong presence in Asia and Australia, specializes in bank transfers with competitive exchange rates.

WorldRemit, on the other hand, is celebrated for its extensive global reach, providing a variety of transfer options including bank deposits, cash pickups, and mobile money.

Both companies leverage modern technology to ensure a seamless transfer experience, catering to the needs of individuals and businesses alike.

Customers

Company NameInstaremWorldRemit
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Instarem ReviewWorldRemit Review
Customer Rating4.4/5 on TrustPilot4.2/5 on TrustPilot
# Rating Customers5,800+ reviews62,000+ reviews
Top 3 Pros
  • Fast service
  • Good customer support
  • Large international footprint
  • Customer-Friendly
  • Transfer from Β£1
  • Excellent App
Top 3 Cons
  • No phone support
  • Slow account verification
  • Not for large transfers
  • Limitations on Transfer Amounts
  • Online Only
  • Not a Good Solution for Large Transfers

Availability

Company NameInstaremWorldRemit
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Office LocationsUK, EU, USA, India, South AfricaUK, USA, Australia, EU, India, Malaysia, Hong Kong
# Currencies2470

Security

Company NameInstaremWorldRemit
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Regulated byMultiple global authoritiesFCA, ASIC, and others
HTTPS SecuredYesYes
Segregated Customer AccountsYesYes
2FAYesYes

Limits and Fees

Company NameInstaremWorldRemit
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Min TransferVaries by countryΒ£1
Max TransferVaries by country, low limits for personal transfersVaries, generally high for bank transfers
Fixed FeesNo fixed fees for bank transfersVaries by corridor
See rates before you log in?YesYes

Customer Support

Company NameInstaremWorldRemit
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Dedicated DealerNoNo
EmailYesYes
PhoneNoYes
Live ChatYesNo
24/7YesYes

Ways to Transfer

Company NameInstaremWorldRemit
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Online SystemYesYes
Online AppYesYes
Multi-Currency AccountYesNo
Cash PickupNoYes
Card Top-UpNoYes (in some regions)

Additional Functions

Company NameInstaremWorldRemit
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HedgingNoNo
Mass PaymentsYesNo
Cash ChequesNoNo
Multi-Currency Debit CardYes (in some regions)No

Conclusion

On MoneyTransferComparison, WorldRemit has received a higher editorial score. The advantages of WorldRemit over Instarem are:

  • Broader global reach with services available in over 130 countries
  • The availability of cash pickup options for recipients
  • A highly rated mobile app that offers a seamless user experience for both sending and receiving funds.

Instarem is better for customers in the Asia-Pacific region looking for competitive rates and those who prefer bank transfers for their transactions. It’s also suitable for users who value a multi-currency account and are looking for a platform that supports mass payments.

WorldRemit, on the other hand, is better for users who need versatile payout options, including cash pickup and mobile money, making it ideal for transfers to countries with less access to banking services. It’s also a strong choice for small and medium personal transfers, thanks to its low minimum transfer requirement and the ability to send money to a wide range of destinations globally.