Instarem vs Xoom
Instarem
instarem.comXoom
xoom.comSide by side
| Figure | Instarem | Xoom |
|---|---|---|
| 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) | 7.8 (#52) |
| Exchange-rate model | markup | markup |
| Upfront fee display | Yes | Yes |
| Founded | 2014 | 2001 |
| Mobile platforms | both | both |
| Regulation | Instarem states that it is licensed and regulated in 11 jurisdictions. | Xoom states that it is a PayPal service and that PayPal, Inc. is a licensed money transfer provider regulated by federal and various U.S. state governments and agencies. |
| Security | Instarem says it uses encryption in transit and at rest, regular vulnerability assessments, external penetration tests, and AWS Cloud security controls. | Xoom says its website uses 128-bit encryption and that stored information is protected physically and electronically behind a firewall. |
| Support | Personal app users can submit a support query or start a live chat through the Help Centre. | Xoom says customer support is available by phone and email every day. |
| Transfer speed | instant | instant |
| Transfer tracking | Yes | Yes |
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.