Instarem vs Xe Money Transfer
Instarem
instarem.com
Xe Money Transfer
xe.comSide by side
| Figure | Instarem | Xe Money Transfer |
|---|---|---|
| Price from | Free | Free |
| Free plan | Yes | Yes |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 2 | 1 |
| Spec score · Money Transfer Apps | 8.7 (#12) | 8.6 (#13) |
| Exchange-rate model | markup | markup |
| Upfront fee display | Yes | Yes |
| Founded | 2014 | 1993 |
| Free plan | No | Yes |
| Headquarters | Singapore | Newmarket, Ontario, Canada |
| Mobile platforms | both | both |
| 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. | Xe says it uses encryption, multi-factor authentication, identity verification, and fraud monitoring to protect transfers. |
| Support | Personal app users can submit a support query or start a live chat through the Help Centre. | Customers can contact support through the app, and Xe’s security page says its support team is available 24/5. |
| Transfer speed | instant | Transfer timing depends on currency, destination, and payment method; Xe says recipients typically receive transfers within 1 to 3 business days after Xe receives payment. |
| Transfer tracking | Yes | Customers can track transfer status and timelines in the app or online account and can ask Xe’s virtual assistant Lexi for a status update. |
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.
Xe Money Transfer
Xe Money Transfer sends international payments for individuals and businesses to over 190 countries in more than 130 currencies. Transfers are described as instant, and the exchange rate includes a markup. Fees vary by currency, destination and payment method; applicable charges are shown before confirmation. Depending on availability, customers can pay by direct debit (ACH), wire transfer, or debit or credit card. Recipients may receive funds by bank deposit, cash pickup or mobile wallet where available. Xe is available on the web and in iOS and Android apps, which support transfers, currency conversion, live exchange rates and transfer tracking. Users can set rate alerts and schedule transfers. Online limits vary by region, and payment methods may impose additional limits. Xe may request identity documents, with requirements varying by country. Xe says it uses encryption, multi-factor authentication, identity verification and fraud monitoring, and that it is globally regulated and complies with privacy regulations including GDPR and CCPA. Support is available through the app; Xe says its support team is available 24/5.