Personal Features

InstaReM

50

50

InstaReM provides reliable international money transfers services for personal customers from several countries.

What InstaReM does

  • International money transfers.
  • Cash pick-up in the Philippines.
  • Multi-currency travel cards.

What InstaReM doesn’t do

  • Regular transfers.
  • Digital wallets.
  • Personal account managers.
  • Hedging tools.
  • Cash pick-up, other than the Philippines.

Ria

33

33

Ria Money Transfer gives personal customers from various countries the ability to transfer money online and in person.
 

What Ria Money Transfer offers

  • International money transfers
  • Bank account deposits
  • Cash pick-up
  • Home cash delivery (in some countries)

 

What Ria Money Transfer doesn’t offer

  • Regular transfers
  • Currency hedging tools
  • Travel cards
  • Digital wallets
  • Multi-currency accounts
  • Account managers

InstaReM wins!

InstaReM scores better in the Personal Features category.

InstaReM
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Winner

Business Benefits

InstaReM

44

44

Small and mid-sized businesses may benefit by using InstaReM's services.

What InstaReM business account offers

  • Company-branded travel cards.
  • Multi-currency accounts.
  • Batch payments.
  • Higher send limits than personal accounts.

What InstaReM business account doesn’t offer

  • Hedging tools.
  • Digital wallets.
  • Accounting integration.
  • Online seller solutions.
  • Business specialists.

Ria

0

0

Ria Money Transfer does not provide services for businesses.


InstaReM wins!

InstaReM scores better in the Business Benefits category.

InstaReM
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Winner

Fees & Exchange Rates

InstaReM

34

34

InstaReM fees

The transfer fee you need to pay depends on the currencies being traded, the transfer amount and the mode of payment.

  • Transfer fees increase in direct proportion to increases in transfer amounts.
  • Debit card payments come with higher fees than bank account transfers.

InstaReM exchange rates

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.


Ria

8

8

Ria Money Transfer fees

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.
 

Ria Money Transfer exchange rates

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.


InstaReM wins!

InstaReM scores better in the Fees and Exchange Rates category.

InstaReM
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Winner

Ease of Use

InstaReM

72

72

What InstaReM does well

Signing up

Create a new account easily by using the InstaReM app or website.

Payment options

  • Bank account transfers from all countries.
  • ACH Pull payments from the USA.
  • Debit card payments from the European Union and the UK.
  • POLi payments from Australia.
  • FPX payments from Malaysia.

Mobile app

Available for iOS and Android.
 

Where InstaReM could improve

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.


Ria

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.


InstaReM wins!

InstaReM scores better in the Ease of Use category.

InstaReM
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Winner

Support & Countries

InstaReM

75

75

What InstaReM does well

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.
 

Where InstaReM could improve

Supported registration countries - InstaReM currently accepts customers from the US, Canada, the UK, Euro Zone countries, Australia, Hong Kong, India, Malaysia and Singapore.


Ria

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.


It’s a draw!

Both equally compare in the Support and Countries category.

It's a draw!
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Draw

Trust & Transparency

InstaReM

50

50

What InstaReM does well

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.
 

Where InstaReM could improve

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.


Ria

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%.


InstaReM wins!

InstaReM scores better in the Trust and Transparency category.

InstaReM
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Winner

The Result

Winner ribbon iconWinner

 InstaReM

InstaReM 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.