Which scores better when comparing InstaReM vs Ria? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
InstaReM
Overall score:
63
63
Ria
Overall score:
41
41
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
50
50
InstaReM provides reliable international money transfers services for personal customers from several countries.
33
33
Ria Money Transfer gives personal customers from various countries the ability to transfer money online and in person.
44
44
Small and mid-sized businesses may benefit by using InstaReM's services.
0
0
Ria Money Transfer does not provide services for businesses.
34
34
The transfer fee you need to pay depends on the currencies being traded, the transfer amount and the mode of payment.
InstaReM uses Reuter market rates to process transfers and adds an FX margin that is typically below 1%. This essentially depends on the currencies being traded.
8
8
Transfer fees - Transfer fees are high. They increase the more you transfer. Additional fees for sending $2,500 can be over $50.
Fees for cash pick-up - Sending money to a Ria cash pick-up location tends to attract more fees when compared to a bank account transfer.
Credit / debit card payment fees - Paying via a debit or credit card attracts more fees than paying via a bank account transfer.
Exchange rate margin/markup - Exchange rates offered by Ria come with markups that are added on top of existing mid-market exchange rates. In addition, the margin might vary depending on whether you transfer money online or in person. The markup can be more than 3% for some exotic currencies.
72
72
Create a new account easily by using the InstaReM app or website.
Available for iOS and Android.
Speed - Some InstaReM reviews on Trustpilot suggest that transfers can take longer than the stipulated 1 - 2 business days.
Limits - Minimum transfer limits vary based on the sender's location. Maximum transfer limits vary depending on where the sender and recipient live.
Phone transfers - You can not carry out transfers over the phone as a personal customer.
57
57
Sign up process - If you live in a country that Ria supports for online transfers, you can create a new account by using the RIa Money Transfer app or website.
Payment methods - Ria accepts payments via bank account transfers, credit cards, debit cards and cash.
Multilingual website - You can use the Ria Money Transfer website in English, French, Spanish or Polish.
Transfer limits - You cansend a maximum of $2,999.99 per transfer, or per day. A maximum limit of $7,999 applies for each 30-day period.
Ria Money Transfer app - While Ria provides an app for Android and Apple, some customer reviews highlight problems with how both apps functions.
Transfer speed - Some Ria Money Transfer reviews on Trustpilot and Google Play Store complain about transfers taking significantly longer than expected. According to Ria, it processes transfers to bank accounts in 2 - 4 business days. Transfers to cash pick-up centers can go through within minutes or hours.
75
75
Supported destination countries - InstaReM lets you send money to a number of countries across North America, Europe, Asia and Oceania. However, the list of supported destination countries might vary based on the sender's location.
Supported registration countries - InstaReM currently accepts customers from the US, Canada, the UK, Euro Zone countries, Australia, Hong Kong, India, Malaysia and Singapore.
75
75
Supported registration countries - Ria Money Transfer provides online money transfer services for residents of the U.S., Canada, the UK, Spain and Australia. Customers from a number of other countries can send money in person.
Supported destination countries - Use Ria Money Transfer to send money to around 160 countries.
Phone support - Get local phone support if you live in the US, Canada or Australia.
Ria Money Transfer customer service - A number of Ria Money Transfer customer reviews on Trustpilot and other platforms express concerns about receiving poor customer service.
Both equally compare in the Support and Countries category.
50
50
Regulated - InstaReM Pte. Ltd. (now known as NIUM Pte. Ltd.) is licensed by regulatory bodies of different countries.
Safety of funds - Uses segregated bank accounts to hold client money.
Trustpilot - Rating of Excellent.
Transparency - Unless you carry out research on your own, you won't find out how much you pay as exchange rate margins.
Addressing customer concerns - A reasonable number of InstaRem reviews on Trustpilot and Google Play Store complain about delayed transfers and poor customer service.
31
31
Owned by Euronet Worldwide - Euronet Worldwide, a leading global electronic transactions and payments company, owns Ria Money Transfer.
Compliant - Ria Money Transfer adheres to all guidelines under the US Office of Foreign Asset Control (OFAC). It also complies with all sanctions imposed by the United Nations and the European Union.
Trustpilot - Ria gets a rating of Excellent on Trustpilot. However, it appears that Ria does not reply to its customers' problems on this platform. Most of the concerns are around verification, delayed transfers, bad customer service and poor user experience.
Transparency in exchange rate - Ria Money Transfer does not inform its customers of the markup it adds on existing mid-market exchange rates. With some exotic currencies, it can be over 3%.
WinnerInstaReM wins five categories and ties with Ria for the sixth - Support and Countries. What lets Ria down is their lack of business service offerings. InstaReM does still win for their personal services, fees and exchange rates plus ease of use and trust and transparency.
