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Alternatives to InstaReM

Find the best alternatives to InstaReM for online money transfers.

InstaReM is one of very few money transfer services to offer its customers the mid-market currency exchange rate, taking a straightforward fee for its services instead of adding a margin to the mid-market rate.

Its rates are very difficult to beat, but transfer options are also limited and it may not have the currency you're after. If you're after something similar but different, take a look at some alternatives below.


TransferWise logo Image: Supplied

TransferWise

TransferWise is one of the only other money transfer services to offer the mid-market rate. While it has a wider range of currencies to choose from than InstaReM, it can also take longer for some transfers to arrive. If you want mid-market rates, but also want to see if you can get even lower fees, it could be worth comparing InstaReM and TransferWise.

Why pick TransferWise instead?

  • Has a different fee structure to InstaReM, with the same mid-market rates
  • Offers a wider range of currencies
  • Could be cheaper for some currencies

Downsides

  • Percentage-based fees add up on large transfers
  • Transfer speeds will sometimes be slower


CurrencyFair logo Image: Supplied

CurrencyFair

CurrencyFair takes a flat fee of the equivalent of EUR€3 for each transfer, plus it adds a small margin to the exchange rate. It’s a peer-to-peer marketplace, so if you’re able to be matched with someone, it can be quite cost-effective.

Why pick CurrencyFair instead?

  • Competitive rates and fees
  • Small minimum transfers
  • Special offers can help cut costs even more

Downsides

  • Limited range of currencies
  • Slower transfers
  • If you can’t match with someone else, CurrencyFair itself will exchange your money for a higher fee


OFX Logo Image: Supplied

OFX

OFX is known for having a wide range of currencies and forex tools available, while InstaReM is still somewhat limited.

Why pick OFX instead?

  • No fees on transfers above $10,000
  • Over 50 currencies on offer
  • Fast transfers
  • Competitive rates with options like forward contracts and limit orders

Downsides

  • $15 fee on transfers under $10,000
  • Higher margin added to the exchange rate than most money transfer services
  • You can’t see the rates unless you have an account


MoneyGram logo Image: Supplied

MoneyGram

MoneyGram has an exceptionally wide range of currencies and destinations to choose from compared to InstaReM, as well as a lot of flexibility in transfer and payment methods. But this comes at a cost.

Why pick MoneyGram instead?

  • Cash payments and pick-up available
  • Can pay with card
  • Near-instant transfers available
  • Has agents all around the world
  • Wide range of currencies available

Downsides

  • Typically more expensive than services like InstaReM
  • Can’t send more than $7,000
  • Express transfers cost more


WorldFirst Image: Supplied

WorldFirst

WorldFirst doesn’t charge any fees but it adds a margin to the exchange rate instead. It’s focused mostly on large, quick transfers to a wide range of destinations.

Why pick WorldFirst instead?

  • No fees
  • Lets you set up regular payments
  • Offers limit orders and forward contracts
  • No maximum transfer limit

Downsides

  • Less-competitive exchange rates than InstaReM
  • $2,000 minimum transfer


XE logo Image: Supplied

XE Money Transfers

XE is a well-known company in the currency space. It doesn’t charge fees, opting to take a cut of the exchange rate instead.

Why pick XE Money Transfers instead?

  • No fees
  • Offers market orders

Downsides

  • Less-competitive exchange rates than InstaReM
  • Transfer times can vary


Still looking for other options?

Use the calculator below to help find the best money transfer service for your next transfer.

Enter the amount you want to send in your chosen currency and you’ll be able to see how much it will cost with a range of providers.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.675 USD
6,749
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 250 1 day AUD 0.00 0.675 USD
6,748
Sign up through Finder and get a $50 Myer gift card when you send $10,000 or more. T&Cs apply.
SendFX guarantees to match any competitor's exchange rate. Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 200 1 day AUD 0.00 0.674 USD
6,744
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.675 USD
6,748
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
AUD 200 1 day AUD 0.00 0.672 USD
6,724
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.671 USD
6,709
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Within an hour AUD 3.99 0.67 USD
6,694
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 3,000 1 day AUD 0.00 0.675 USD
6,751
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
Go to site Show details
AUD 1 1 day AUD 0.00 0.671 USD
6,710
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.678 USD
6,743
Exclusive: Finder customers receive $15 off their first transaction. T&Cs apply.
Quick and simple international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction.
Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

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International Money Transfer Offers

Important Information*
Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

Sign up through Finder and get a $50 Myer gift card when you send $10,000 or more. T&Cs apply.
SendFX guarantees to match any competitor's exchange rate. Fee-free transfers in 30+ currencies to over 200 countries.

Logo for TorFX International Money Transfers
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

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