Instarem vs WorldRemit
Instarem
instarem.com
WorldRemit
worldremit.comSide by side
| Figure | Instarem | WorldRemit |
|---|---|---|
| Price from | Free | — |
| Free plan | Yes | — |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 2 | 0 |
| Spec score · Money Transfer Apps | 8.7 (#12) | 7.9 (#48) |
| Exchange-rate model | markup | mid_market |
| Upfront fee display | Yes | Yes |
| Founded | 2014 | 2010 |
| Headquarters | Singapore | The company page describes London as WorldRemit's headquarters; its site lists 167-169 Great Portland Street, 5th Floor, London W1W 5PF, United Kingdom. |
| Mobile platforms | both | both |
| Regulation | Instarem states that it is licensed and regulated in 11 jurisdictions. | WorldRemit Ltd states that it is authorized and regulated by the UK Financial Conduct Authority under the Payment Services Regulations 2017 and Electronic Money Regulations 2011, registration number 900891. |
| Scheduled transfers | Yes | Yes |
| Security | Instarem says it uses encryption in transit and at rest, regular vulnerability assessments, external penetration tests, and AWS Cloud security controls. | WorldRemit says its website and apps are designed to prevent unauthorized account access and transfer fraud, with identity verification and transaction monitoring by dedicated analysts. |
| Support | Personal app users can submit a support query or start a live chat through the Help Centre. | WorldRemit offers 24/7 in-app customer support and lists phone support hours as Monday through Friday, 10am to 12am UTC. |
| Transfer limits | Transfer limits depend on the sending and receiving countries, and users can check the applicable limit in the app. | The maximum amount a customer can send depends on where they live and how they pay, and services and payout options vary by sending and destination country. |
| Transfer speed | instant | Transfers usually arrive within minutes, but timing can vary with payout method, identity checks, payment authorization, third-party operating hours, and incorrect information. |
| Transfer tracking | Yes | The app lets customers track transfers and view status updates. |
Plans
In their own words
Instarem
Instarem provides international money transfers for individuals and cross-border payments for businesses. Personal users can send money to more than 60 countries, see fees upfront, and track transfers in real time. Fees vary by sending amount, currency, payment method, and destination and receiving method. Transfers are typically processed instantly or the same day after funds arrive, but can take up to two business days depending on destination and payment method. The service is available on Android, iOS, and the web; the mobile app includes Quick Send for frequent recipients and support by query or live chat. Businesses can pay overseas suppliers or employees across more than 160 countries. They can upload Excel payment and recipient details for up to 1,000 transactions in one go in listed markets. Business accounts also offer virtual cards with spending limits and real-time expense tracking. Instarem says it is licensed and regulated in 11 jurisdictions and uses encryption in transit and at rest, vulnerability assessments, external penetration tests, and AWS Cloud security controls. Personal and business account registration is free, but transaction fees apply.
WorldRemit
WorldRemit provides digital international money transfers through its website and Android and iOS apps. Customers can send money to over 130 countries. Depending on the countries involved, recipients can receive a bank transfer, collect cash, get mobile money, or receive an airtime top-up. Most transfers arrive within minutes, though some take longer depending on the receive method. Fees and exchange rates are shown before payment, and the total cost depends on the receiving country, payout method, and payment method. WorldRemit says it uses the mid-market exchange rate and charges no fees for airtime top-ups.
Available ways to pay vary by sending country and may include bank transfer, debit card, or credit card. The app offers transfer tracking, scheduled transfers, exchange-rate alerts, and Quick resend for favourite recipients. In-app chat support is available 24/7 in six languages. A recipient does not need a WorldRemit account, though cash pickup requires valid photo ID matching the transaction details and the transaction reference. WorldRemit says it is licensed by government regulators and checks transfers for security. The company is headquartered in London, was founded in 2010, and is part of Zepz.