Remitly vs InstaReM: Fees, Rates & Speed Compared
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
InstaReM
4.0InstaReM (now Nium) offers competitive international money transfers across Asia-Pacific and global corridors with transparent pricing and fast delivery.
Remitly and InstaReM are both popular choices for international money transfers, but they take different approaches. Remitly, founded in 2011 and headquartered in Seattle, USA, is best known for cash pickup and global coverage. InstaReM, operating since 2014 from Singapore, focuses on international money transfers. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs. Our data shows the difference can be significant — on a £500 GBP → PKR transfer, Remitly delivers ₨2668.16 more to the recipient.
In this comparison
Live comparison: Remitly vs InstaReM across popular corridors
The table below shows how much the recipient receives when sending through Remitly vs InstaReM on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Remitly | InstaReM | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹94,613.02 | ₹95,041.34 | InstaReM (+₹428.32) |
| GBP → EUR(£1,000) | €1,145.44 | €1,152.36 | InstaReM (+€6.92) |
| USD → PHP($500) | ₱29,375.75 | ₱30,332.67 | InstaReM (+₱956.92) |
| USD → MXN($1,000) | MX$16,902.42 | MX$17,197.48 | InstaReM (+MX$295.06) |
| GBP → PKR(£500) | ₨187,984.49 | ₨185,316.33 | Remitly (+₨2668.16) |
| USD → NGN($200) | ₦272,917.21 | ₦271,828.27 | Remitly (+₦1088.94) |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Remitly and InstaReM
Remitly vs InstaReM: Feature comparison
| Feature | Remitly | InstaReM |
|---|---|---|
| Overall rating | 4.6/5 (Excellent) | 4.0/5 (Good) |
| Fee structure | From $0 to $3.99 per transfer | From $0 to flat fee per corridor |
| Exchange rate markup | 0.5% - 2% above mid-market | 0.25% - 1% above mid-market |
| Transfer speed | Minutes to 3-5 days | 1-3 business days |
| Supported countries | 100+ | 60+ |
| Supported currencies | 40+ | 40+ |
| Max transfer | $10,000 | $50,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card | Bank Transfer, Debit Card |
| Delivery methods | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery | Bank Deposit |
| Regulators | FinCEN, FCA | MAS, ASIC, FCA |
| Founded | 2011 | 2014 |
Pros and cons
Remitly
Pros
- Express transfers arrive in minutes
- Cash pickup available in many countries
- Mobile money delivery option
- First transfer promotions often available
- Home delivery in select countries
Cons
- Rates less competitive for large transfers
- No multi-currency account
- Focused mainly on remittance corridors
InstaReM
Pros
- Competitive rates for Asia-Pacific corridors
- Transparent fee structure
- InstaPoints rewards program
- Business payment solutions
- Fast delivery to select countries
Cons
- Limited coverage outside Asia-Pacific
- No cash pickup option
- Less well-known brand
When to choose Remitly vs InstaReM
Choose Remitly if:
- You want the real mid-market exchange rate with no hidden markup
- Your recipient needs cash pickup instead of bank deposit
- You want to send to a mobile money wallet (M-Pesa, GCash, etc.)
- You need wider country coverage (100+ vs 60+ countries)
- You want zero transfer fees (From $0 to $3.99 per transfer)
Choose InstaReM if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (InstaReM supports up to $50,000)
- You need a multi-currency account to hold and convert balances
- You need a business account for commercial payments
- You want zero transfer fees (From $0 to flat fee per corridor)
Verdict: Remitly or InstaReM?
Cost winner: InstaReM
InstaReM wins on cost in 4 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹428.32 more with InstaReM. InstaReM achieves this through transparent pricing with the real mid-market exchange rate.
Faster: Remitly
Remitly is generally faster, with transfers arriving in Minutes to 3-5 days, compared to 1-3 business days for InstaReM.
Wider coverage: Remitly
Remitly has broader coverage with 100+ countries and 40+ currencies. Remitly also offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery.
Bottom line
Overall, Remitly edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, InstaReM is the better pick if you need international money transfers.
Frequently asked questions
Is Remitly or InstaReM cheaper for international transfers?
Based on our data, InstaReM is generally cheaper across most corridors. InstaReM charges From $0 to flat fee per corridor with a 0.25% - 1% above mid-market exchange rate markup, while Remitly charges From $0 to $3.99 per transfer with a 0.5% - 2% above mid-market markup. For example, on a $1,000 USD → INR transfer, InstaReM delivers ₹428.32 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Remitly or InstaReM?
Remitly typically completes transfers in Minutes to 3-5 days, while InstaReM takes 1-3 business days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are Remitly and InstaReM safe to use?
Yes, both are regulated money transfer services. Remitly is regulated by FinCEN, FCA and has a 4.6/5 Trustpilot rating. InstaReM is regulated by MAS, ASIC, FCA with a 4.0/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Remitly vs InstaReM?
Remitly has a maximum transfer of $10,000 (minimum $1), while InstaReM allows up to $50,000 (minimum $1). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Can I get cash pickup with Remitly or InstaReM?
Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. InstaReM offers Bank Deposit. Remitly supports cash pickup, which is useful when recipients don't have a bank account.
Should I use Remitly or InstaReM to send money internationally?
For most users, Remitly offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, InstaReM is the better choice if you need international money transfers. The best provider for you depends on your corridor, transfer size, and whether you need features like Home Delivery.