Western Union or InstaReM – which of the two companies should you use for your next international money transfer? The answer is in the details, where you have to look at factors beyond cost-effectiveness and customer service.
To find out where the InstaReM vs. Western Union comparison stands from the point of view of the companies’ customers, consider turning to Trustpilot. On this review-based website, Western Union gets an average score of 8.6 out of 10. InstaReM does well too, averaging at 8.8 out of 10.
Other aspects you need to take into account when selecting either InstaReM or Western Union include:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
The fees you need to pay might have a bearing on whether you should select Western Union or InstaReM, so pay close attention to this aspect.
- Where you live and the mode of payment might affect transfer fees.
- If you send money from the United States, expect to pay around 0.5% of the transferred amount as fees.
- The fee increases to around 0.6% for transfers initiated from Australia.
- Transfers initiated from Singapore attract around 0.25% of the transfer amount as fees.
- You may get an indication of how much your transfer will cost by using the InstaReM online currency converter.
- Factors that affect transfer fees include the currencies involved, the payment method, and the transfer method.
- Sending money to bank accounts is typically more cost-effective than sending money to cash pickup locations.
- Paying through a bank account transfer tends to attract lower fees than making payments using cards.
- Determine how much you might need to pay as fees by using the Western Union online currency calculator.
Ease of Use
No matter whether you sign up with InstaReM or Western Union, sending money overseas is fairly simple. Both companies provide apps for mobile devices.
- The company operates region-specific websites, which you may use in different languages.
- Depending on where you live, you may pay via a bank account transfer, a debit card, FPX, or POLi.
- Where you live might have an effect on sending limits.
- Businesses may sign up for multicurrency accounts.
- Western Union operates multilingual region-specific websites.
- Region-specific payment methods include bank account transfers, debit cards, credit cards, and cash.
- This company lets you send money to bank accounts, mobile wallets, and agent locations.
- You may use the services of this company to send money to inmates in American correctional facilities.
Regular Overseas Payments
Turning to either Western Union or InstaReM will not serve your purpose if you wish to schedule transfers because both companies do not offer this service yet. Alternatives you may choose from include:
- Who is similar to Western Union?
- Learn more about Western Union Competitors and Alternatives.
- Which one is the best option, OFX or Western Union?