Headquartered in different parts of the world, TorFX and InstaReM give their customers reliable and dependable ways to carry out international money transfers. Both companies accept customers from different countries. However, there are differences in how they operate as well. This TorFX vs. InstaReM comparison touches upon various aspects, so you may make an informed decision.
Turning to Trustpilot, a review-based platform, gives you easy means to look at where the InstaReM vs. TorFX comparison stands in the real world. Here, while TorFX gets an average score of 9.4 out of 10, InstaReM is not far behind, at 8.8 out of 10.
To determine if you should use the services of InstaReM or TorFX, the factors you need to consider include:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
This section of the InstaReM vs. TorFX comparison favors the latter because it charges no fees for personal transfers.
- The country of your residence and the desired payment method affect transfer fees.
- Sending money from the United States attracts around 0.5% of the transfer amount as fees.
- If you send money from Australia, you will need to pay 0.6% of the amount you transfer as fees.
- From Singapore, transfer fees stand at around 0.25% of the transfer amount.
- An online currency calculator lets you check the cost of your transfer.
Ease of Use
Using the services of either InstaReM or TorFX is fairly simple. Both let you send money through their websites as well as apps meant for mobile devices. Both serve individuals and businesses.
- InstaReM operates multilingual region-specific websites.
- Region-specific payment methods include bank account transfers, debit cards, FPX, and POLi.
- Sending limits may vary depending on where you live.
- The company provides multicurrency accounts for business clients.
- It provides company-branded Visa cards.
- TorFX operates a UK-based website for global customers, and a dedicated website for residents of Australia.
- Acceptable modes of payment include bank account transfers, debit cards, and credit cards.
Regular Overseas Payments
This section of the InstaReM vs. TorFX comparison tilts the balance in favor of the latter. While you may use TorFX to schedule transfers with ease, InstaReM does not provide this functionality yet.
- Get more insights from TorFX Review.
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