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WorldFirst vs InstaReM

Compare these two transfer services side by side to find the best value for money.

If you need to send money overseas, WorldFirst and InstaReM both offer convenient online transfers and much better value for money than the major banks. But which of these transfer services is right for your needs?

To find the answer to this question, let's compare the fees, exchange rates and transfer speeds of WorldFirst and InstaReM side by side.

The fees and rates used in this comparison are accurate as of 26 March 2019.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.712 USD
7,119
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.715 USD
7,111
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.

Which has lower fees?

WorldFirst

WorldFirst doesn't charge any fees on international money transfers. However, it's important to be aware that in some cases a fee may be charged by the receiving bank.

InstaReM

InstaReM fees differ depending on where you're sending money, but are typically between 0.25% and 1% of the transaction amount. For example, if you want to send $1,000:

  • To India, the fee would be $6
  • To the UK, the fee would be $5
  • To the Philippines, the fee would be $5

Trophy icon
Winner: WorldFirst

It's no surprise here to see WorldFirst's fee-free transfers come out on top. However, this doesn't necessarily mean your transfer will be cheaper with WorldFirst. You'll also need to take the exchange rate into account, as we'll explain below.

Let's crunch the numbers: Sending $2,000 and $10,000 to the UK

To get a clearer idea of how WorldFirst and InstaReM compare, let's take a look at a couple of case studies. Check out the tables below to find out how much it could cost to send separate transfers of $2,000 and $10,000 to the UK.

Sending $2,000 to the UK
WorldFirst InstaReM
Transfer fee $0 $10
Exchange rate 1 AUD = 0.536507 GBP 1 AUD = 0.5391 GBP
Transfer speed 1 working day 1–2 working days
Total pounds received £1,073.01 £1,078.20
Receiver gets £5.19 less £5.19 more

As you can see in this example, there's little difference between the two providers. While WorldFirst will save you $10 on transfer fees, InstaReM's higher exchange rate means an extra £5.19 ends up in your recipient's account. This example is too close to call.

Sending $10,000 to the UK
WorldFirst InstaReM
Transfer fee $0 $50
Exchange rate 1 AUD = 0.536507 GBP 1 AUD = 0.5391 GBP
Transfer speed 1 working day 1–2 working days
Total pounds received £5,365.07 £5,391
Receiver gets £25.93 less £25.93 more

Once again, there's little to separate the two providers. At first glance, the fact InstaReM charges an extra $50 in transfer fees would seem to make it a poor choice. However, InstaReM's higher exchange rate means you can send an extra £25.93 (approximately $48) to your recipient, causing things to even out once again.

Which offers better exchange rates?

WorldFirst

WorldFirst adds a margin on top of the mid-market exchange rate. The size of that margin varies depending on the currency you want to send but usually sits in the 0.5–1% range. For example, if you want to send AUD to the US:

  • If the mid-market rate is 1 AUD = 0.711979 USD
  • WorldFirst's rate might be 1 AUD = 0.708192 USD

InstaReM

InstaReM doesn't add any margin and instead offers its customers the mid-market rate. Using the same example, if the mid-market rate is 1 AUD = 0.711979 USD, that's exactly what you'll get for your transfer.

Trophy icon
Winner: InstaReM

While WorldFirst's margins are quite competitive, InstaReM's commitment to offering the mid-market rate makes it the clear winner in this category. This higher exchange rate means more of the money you send will arrive in your recipient's wallet.

Which is faster?

WorldFirst

The time it takes for the money you send to arrive in your recipient's bank account depends on:

  • The currency you transfer
  • The transfer amount
  • Your bank

Transfers to USD, GBP and EUR are completed the same day, but sending funds to other currencies will take one to four working days.

InstaReM

InstaReM transfer times vary depending on where you're sending money and the banks involved in the transaction. Most transactions are completed in one to two working days.

Trophy icon
Winner: Tie

There's little to split the two services in terms of transfer speed, so they'll share the points here.

General features

Payment methods Receiving options Maximum and minimum transfers Transfer speeds Currencies
WorldFirst Bank transfer Bank account Minimum: $2,000

Maximum: No limit

1 day 55+ currencies
InstaReM Bank transfer Bank account Minimum: $200

Maximum: No limit

1 - 2 days 20+ currencies

WorldFirst

WorldFirst is an online transfer service that allows you to send international transfers of $2,000 or more. You'll need to register for an account before you can transfer any funds and transactions can be submitted online or using the WorldFirst app. You can pay for your transaction using a bank account transfer and the funds will then be deposited into your recipient's bank account.

InstaReM

InstaReM also offers an online transfer service to overseas bank accounts, but it accepts transfers of $200 and up. You'll need to register for an account to use the service and you can submit a transfer online or via the InstaReM app. You can pay for your transaction via POLi transfer, BPAY or bank transfer.

Bottom line

WorldFirst and InstaReM are very evenly matched, so the only way to choose between the two may be based on your transaction amount. While InstaReM accepts transfers of $200 or more, WorldFirst is designed for larger transfers and accepts transactions of $2,000 or more.

However, as WorldFirst's exchange rates and InstaReM's fees can vary depending on the currency you're sending, it's worth getting a quote from both services to see which one offers the best value.

Ultimately, you'll need to make sure you compare WorldFirst and InstaReM with a wide range of international money transfer services to find the right transfer provider for your needs.

Looking for more options?

Use our calculator below to see how the exchange rates, fees and transfer times of WorldFirst and InstaReM compare to those offered by a range of other international transfer services.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 200 1 day AUD 0.00 0.712 USD
7,119
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 2,000 1 day AUD 0.00 0.712 USD
7,119
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.712 USD
7,119
$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.715 USD
7,115
Make online transfers at the mid-market rate with transparent fees in 45+ currencies. Go to site Show details
AUD 1 Within an hour AUD 3.99 0.711 USD
7,109
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 0.712 USD
7,118
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 0.711 USD
7,112
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 0.715 USD
7,111
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*
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.

WorldFirst International Money Transfers

Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.

OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

TransferWise International Money Transfers

Make online transfers at the mid-market rate with transparent fees in 45+ currencies.

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