Several people are not sure if they should use the services of InstaReM or Ria to send money overseas. Incidentally, while both companies provide dependable services, determining which one to go with requires that you pay attention to your individual requirements. For instance, while Ria lets you initiate transfers in person, InstaReM does not.
Trustpilot, an online review-based website, gives you insight into the Ria vs. InstaReM comparison from the perspective of the companies’ customers. While InstaReM gets an average Trustpilot score of 7.5 out of 10, Ria Money Transfer averages at 8.4 out of 10.
Going through the different sections of this comparison will equip you with the information you need to select either Ria or InstaReM for your next overseas money transfer.
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
This section of the InstaReM vs. Ria comparison requires your particular attention because the fee you end up paying may vary depending on different factors.
- Where you live and the desired payment method may have a bearing on the fees you need to pay.
- Transfers initiated from Singapore tend to attract around 0.25% of the transfer amount as fees.
- From Hong Kong, expect to pay around 0.3% of the transfer amount as fees.
- If you send money from Australia, you will pay around 0.6% of the transfer amount as fees.
- Card payments typically attract higher fees.
- Use the InstaReM online currency converter to determine the cost of your transfer.
- The destination country and the desired payment method may affect transfer fees.
- Paying via a bank account transfer is typically the most cost effective method.
- Payments made via credit cards tend to attract the highest fees.
- Use the Ria price calculator to determine how much you might need to pay as fees.
Ease of Use
Using the services of either Ria or InstaReM is fairly simple. Both companies provide apps for devices that run on iOS or Android.
- InstaReM serves individuals and businesses.
- Minimum and maximum transfer amounts may vary depending on where you live.
- Depending on where you live, you may pay via bank transfers, debit cards, POLi, or FPX.
- If you register as a business, you get access to online multi-currency accounts.
- You may make mass payments by using the Masspay system.
- You may use the Ria website in English or Spanish.
- You may send money online or in person.
- Depending on the destination country, you may send money to a bank account or an agent location.
- The company provides home delivery of the money you transfer in some places.
- The daily maximum transfer limit is $2999.99, and the monthly maximum transfer limit is$7,999.00.
Regular Overseas Payments
Turning to either InstaReM or Ria will not do much good if you want to set up scheduled transfers because both companies are yet to start offering this service. Some of the prominent names in the business that let you set up regular transfers include OFX, WorldFirst, TorFX, and HiFX.
- Check out Payoneer competitors and alternatives.
- Find out more about InstaRem by reading this review.