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Alternatives to InstaReM

Compare providers for your next international money transfer.

InstaReM only offers zero-margin transfers for some currencies and during certain hours. The company doesn’t make it clear which currencies and hours this applies to.

Its rates can be very difficult to beat, but transfer options are also limited and it may not have the currency you’re after. If you need a company with different transfer options, check out some of its top competitors.


Wise logo Image: Supplied

Wise

Wise is one of the only other money transfer services to offer the mid-market rate. While it has a wider range of currencies to choose from than InstaReM, it can also take longer for some transfers to arrive. If you want mid-market rates, but also want to see if you can get even lower fees, it could be worth comparing InstaReM and Wise.

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Why pick Wise instead?

  • Has a different fee structure to InstaReM, with the same mid-market rates
  • Offers a wider range of currencies
  • Could be cheaper for some currencies

Downsides

  • Percentage-based fees add up on large transfers
  • Transfer speeds will sometimes be slower


OFX Logo Image: Supplied

OFX

OFX is known for having a wide range of currencies and forex tools available, while InstaReM is still somewhat limited.

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Why pick OFX instead?

  • No fees on transfers above $10,000
  • Over 50 currencies on offer
  • Fast transfers
  • Competitive rates with options like forward contracts and limit orders

Downsides

  • $15 fee on transfers under $10,000
  • Higher margin added to the exchange rate than most money transfer services
  • You can’t see the rates unless you have an account


MoneyGram logo Image: Supplied

MoneyGram

MoneyGram has an exceptionally wide range of currencies and destinations to choose from compared to InstaReM, as well as a lot of flexibility in transfer and payment methods. But this comes at a cost.

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Why pick MoneyGram instead?

  • Cash payments and pickup available
  • Can pay with card
  • Near-instant transfers available
  • Has agents all around the world
  • Wide range of currencies available

Downsides

  • Typically more expensive than services like InstaReM
  • Can’t send more than $10,000
  • Express transfers cost more


XE logo Image: Supplied

XE

XE is a well-known company in the currency space. It typically doesn’t charge transaction, commission or ongoing feess, opting to take a cut of the exchange rate instead. However, a nominal fee of 3USD (and its equivalent) applies to transfers below USD500 and its equivalent in other currencies.

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Why pick XE Money Transfers instead?

  • Low fees
  • Offers market orders

Downsides

  • Less-competitive exchange rates than InstaReM
  • Transfer times can vary


Still looking for other options?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Alternatively, learn more about InstaReM in our review.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
OFX
24 hours
$0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours
$0

View details
Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
CurrencyTransfer
24 hours
$0
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

View details
Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE
Within minutes
$3

View details
XE has fast transfers with low fees and a range of foreign currency tools.
WorldRemit
Within an hour
From $1.99

View details
New customers send USD 20 to Lebanon and use code ADD10 for a USD 10 discount. Valid till 7 November 2021. T&Cs apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Instarem
Within an hour
$1

View details
Exclusive: Use code GET60 to save 30 USD on each transaction over 200 USD. Valid for the first two transactions and till 30 November 2021. T&Cs apply.
Instarem offers zero transfer fees on all transfers.
Remitly
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

View details
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Western Union
Within an hour
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.
MoneyGram
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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