WorldRemit Logo

WorldRemit

This alternative to InstaReM has its headquarters in the UK, with offices also in the U.S., Canada, Australia, New Zealand and Japan. You may use the WorldRemit review to understand your options better.  The website is in different languages and lets you pay for your transfer using a credit card. Recipients may collect transferred funds from cash pickup locations but the company only serves individuals and not businesses.

Pros

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Low minimum transfer amount of £1
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Headquarters in the UK, offices also in the U.S., Canada, Japan, Australia and New Zealand
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Website access in different languages
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Local phone assistance provided in different countries
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Transfer funds to bank accounts or cash pickup locations
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Top up mobile airtime and mobile wallets

Cons

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Does not serve business clients
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Your country of residence and the transfer method you choose may have a bearing on sending limits
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Transfer fees depend on the amount you want to transfer, the transfer method and the destination country
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No forward contracts, limit orders or scheduled transfers

CurrencyFair Logo

CurrencyFair

Ireland-based CurrencyFair began operations in 2009. It also has offices in the UK and Australia. The CurrencyFair peer-to-peer Exchange platform lets you bid for preferred exchange rates. You may register with this InstaReM competitor as an individual or a business.

Pros

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Headquarters in Ireland, offices also in the UK and Australia
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Register as an individual or a business
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Transfer as little as €8
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Website access in different languages
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Bid for preferred rates using the Exchange platform

Cons

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Services not available in all American states
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Charges 0.35% of the transfer amount plus €3 as fees
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No limit orders and forward contracts
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No cash pickup centers

TransferWise Logo

TransferWise

TransferWise has been in business since 2011. This UK-based alternative to InstaReM traces its roots to Estonia and has offices in several countries. It operates a multilingual website. With the TransferWise Borderless Account, you may receive payments and hold funds in up to 27 currencies. The company accepts payments via credit cards from residents of some countries. It serves individuals and businesses.

Pros

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Provides services to individuals and businesses
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Register using your Google or Facebook account
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Dedicated websites for the U.S., Canada, the UK, Spain, France, Switzerland, Germany, Italy, Brazil, Australia, New Zealand, Singapore and Japan
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Headquarters in the UK, offices also in the U.S., Estonia, Ukraine, Hungary, Australia, Singapore, and Japan
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Website access in various languages
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Provides local phone support in different countries
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No minimum transfer amount
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Use email addresses to send and receive funds
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Use the Borderless Account to hold funds in multiple currencies

Cons

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Its peer-to-peer network does not include all countries
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Transfer fees depend on the transfer amount, the transfer method and the destination country
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No forward contracts, limit orders or scheduled transfers
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No cash pickup centers

XE Money Transfer Logo

XE Money Transfer

This Canada-based alternative to InstaReM began operations in 1993. It also has offices in the U.S. and the UK. XE (formerly HiFX) operates dedicated websites for the U.S., Canada, the UK, Australia, and New Zealand. Website access comes in different languages. This company lets you register as an individual or a business.

Pros

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Sign up as an individual or a business
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Headquarters in Canada, offices also in the U.S. and the UK
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Dedicated websites for the U.S., Canada, the UK, Australia and New Zealand
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Multilingual website
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Personal transfers attract no fees
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Provides limit orders
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Customer service in English, French or Spanish

Cons

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No cash pickup centers
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No scheduled transfers

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