If you wish to carry out an overseas money transfer quickly, easily, and in a cost-effective manner, you may choose to work with either WorldFirst or InstaReM. However, aspects such as where you live and how you wish to pay for your transfer might have a bearing on which to the two you select.
One way to determine what previous customers have to say about the services of both companies is to take the InstaReM vs. WorldFirst comparison to online review-based platforms. On Trustpilot, InstaReM averages at 7.7 out of 10. WorldFirst, on the other hand, gets an average score of 9.4 out of 10 on Feefo.
When deciding if InstaReM or WorldFirst might work better for you, you need to take several aspects into account. These include:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
This section of the InstaReM vs. WorldFirst comparison tilts the scale in favor of the latter, especially when it comes to personal transfers.
- The transparent margin you pay over the existing real exchange rate depends on how much money you plan to transfer in a year. (Details in table below)
- Where you live might have a bearing on minimum and maximum sending limits.
- Businesses and online sellers need to pay fees in different circumstances.
- You may view the company’s pricing policies by visiting World First UK, World First Australia, World First France, World First Japan, World First China, World First Hong Kong, or World First Singapore.
- Where you live and the payment method you choose may affect transfer fees.
- If you send money from the U.S., you will pay around 0.5% of the transfer amount as fees.
- From Australia, you pay around 0.6%.
- Transfers initiated from Singapore attract around 0.25% as fees.
- You may get an indication of the cost of your transfer by using the InstaReM currency converter.
WorldFirst Money Transfer Fees Table
|Annual Transfer Amount||£0-£500k / AUD$0-$750K||£500k-£5M / AUD$750k – $7.5M>||£5M+ / AUD$7.5M|
|Real Exchange Rate Plus Fee||0.50%||0.25%||0.15%|
Ease of Use
Signing up with either InstaReM or WorldFirst is fairly straightforward, as is using their services. Both companies provide apps for mobile devices.
- Depending on where you live, you may use WorldFirst websites for the UK, the Netherlands, France, Australia, China, Japan, Hong Kong, or Singapore.
- You get access to WorldFirst websites in different languages.
- Acceptable modes of payment, depending on where you live, include bank account transfers, debit cards, credit cards, BACS, and CHAPS.
- The WorldFirst account gives online sellers access to receiving accounts in multiple currencies.
- The company has region-specific sending limits.
- Depending on where you live, you may pay via a bank account transfer, a debit card, POLi, or FPX.
- Businesses get to use the MassPay platform to make mass payments.
- Businesses get access to online multi-currency accounts.
Regular Overseas Payments
This section of the InstaReM vs. WorldFirst comparison favors the latter simply because it lets you schedule transfers easily. InstaReM is yet to start providing this service.
- Who are the best alternatives to World First near you?
- Find out more info on World First Review.
- Get more details on how to activate and redeem your World First free transfer promotion.