Which scores better when comparing Western Union vs InstaReM? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
Western Union
Overall score:
55
55
InstaReM
Overall score:
63
63
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
50
50
Western Union lets you transfer money to most countries in the world, either to bank accounts or to cash pickup locations.
50
50
InstaReM provides reliable international money transfers services for personal customers from several countries.
Both equally compare in the Personal Features category.
56
56
Western Union provides various forex services for business customers from a number of countries.
44
44
Small and mid-sized businesses may benefit by using InstaReM's services.
0
0
Exchange rate margin fee - This can be more than 5% for exotic currencies.
Additional fees - The transfer fee you need to pay depends on the currencies involved, the transfer amount, the payment method and the delivery method.
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.
64
64
Sign up - Registration is easy and follows an intuitive process.
Payment options - Bank transfers, debit cards, credit cards and cash.
Mobile apps - Available for Android and iOS
Transfer limits - Based on where you and the recipient live, the transfer method and the payment method.
Multilingual website - Get website access in local languages, depending on which Western Union website you use.
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.
69
69
Supported currencies - Western Union carries out transfers in around 130 currencies.
Supported countries - You can transfer funds to more to 200 countries and territories. You can register through the Western Union website from over 70 countries.
Phone support - Provides local phone support during business hours in several countries.
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.
44
44
Regulated - Licensed by financial regulatory bodies of different countries.
Publicly listed - Regular audits to oversee safety and compliance procedures result in increased trust surrounding customers' funds.
Exchange rate and fee transparency - The Westren Union margin on existing exchange rates can be more than 5% for exotic currencies. Some Western Union reviews on Trustpilot and Play Store mention non-transparency in fees as well.
Customer support - A number of online customer reviews highlight concerns surrounding Western Union's unresponsive customer service.
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.
WinnerInstaReM beats Western Union despite drawing under the Personal Features category. With the other scores relatively similar, the overall score difference is due to fees and exchange rates. Western Union is known for having higher and non transparent markups.
