Which scores better when comparing Xoom vs InstaReM? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
Xoom
Overall score:
44
44
InstaReM
Overall score:
63
63
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
33
33
Xoom lets personal customers transfer money to a significant number of countries, through different channels.
50
50
InstaReM provides reliable international money transfers services for personal customers from several countries.
0
0
Xoom does not provide services for businesses.
44
44
Small and mid-sized businesses may benefit by using InstaReM's services.
8
8
Exchange rate margin fee - This is up to 2% for commonly traded currencies, and can be more than 5% for exotic currencies.
Additional fees - The transfer fee varies based on the currencies being traded, the transfer amount, the payment method and the transfer 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.
68
68
Sign up - Registration is simple, and becomes even easier for existing PayPal customers.
ID verification - Level 1 membership comes without the need for ID verification.
Payment options - Bank transfers, debit cards, credit cards and PayPal.
Mobile apps - Available for Android and iOS.
Minimum transfer amount - Low minimum transfer amount.
Transfer limit - Xoom has 24-hour, 30-day, and 180-day transfer limits.
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.
75
75
Supported payment currencies - Xoom lets customers send money from more than 70 countries.It accepts payments in USD, CAD, EUR and GBP.
Supported destination currencies - Xoom lets you send money to around 130 countries, in around 80 currencies.
Supported countries for bill payments - Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Mexico, Nicargua and Vietnam.
Multilingual customer support - Customers get multilingual customer support. Languages include English, French, Spanish, Italian, German, Filipino, Chinese and Arabic.
Foreign language website access - Xoom's website is available in a number of languages such as French, Spanish, Italian, German, Portuguese, Polish, Arabic, Filipino, Chinese and Vietnamese.
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.
Both equally compare in the Support and Countries category.
38
38
Regulated - Xoom is regulated by the US federal government and various state regulatory bodies. It is licensed to provide its services in all its countries in its transfer network.
Trustpilot - Xoom gets an Excellent rating on Trustpilot. However, a number of complaints highlight lengthy turnaround times and failed transfers.
Fees transparency - Xoom applies a margin on existing exchange rates. This can be over 5% for some currencies.
Customer support - The company does not seem to respond to any of its customers' reviews on Trustpilot and the Apple App store. Many customers also complain about receiving poor customer service over the phone.
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.
WinnerWith Xoom not offering any business services it is clear to see why InstRem wins. Both tie in the Support and Countries category but InstaRem wins the remaining sections. The clear differentiator being their lower fees and exchange rates.
