WorldFirst vs InstaReM

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

Last updated:

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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.66 USD
6,601
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 200 1 - 2 days AUD 50.00 0.662 USD
6,591
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies.
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
WorldFirstInstaReM
Transfer fee$0$10
Exchange rate1 AUD = 0.536507 GBP1 AUD = 0.5391 GBP
Transfer speed1 working day1–2 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
WorldFirstInstaReM
Transfer fee$0$50
Exchange rate1 AUD = 0.536507 GBP1 AUD = 0.5391 GBP
Transfer speed1 working day1–2 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 only offers zero-margin transfers for some currencies and during certain hours. The company doesn't make it clear which currencies and hours this applies to.

Trophy icon
Winner: Tie

While WorldFirst's margins are quite competitive, InstaReM's commitment to offering the mid-market rate for some markets makes it the equally competitive in this category. This possibly stronger 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 methodsReceiving optionsMaximum and minimum transfersTransfer speedsCurrencies
WorldFirstBank transferBank accountMinimum: $2,000

Maximum: No limit

1 day55+ currencies
InstaReMBank transferBank accountMinimum: $200

Maximum: No limit

1 - 2 days20+ 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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 1 day AUD 52.00 0.663 USD
6,593
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world. Go to site Show details
AUD 2,000 1 day AUD 0.00 0.66 USD
6,601
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 0.66 USD
6,601
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.66 USD
6,601
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
GBP 3,000 1 day AUD 0.00 0.66 USD
6,601
Global Reach will match any competitor's exchange rates. Conditions apply.
Get no fees for both business and personal transfers when you send your money overseas with Global Reach.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.66 USD
6,601
$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
USD 0 1 - 2 days AUD 2.99 0.655 USD
6,553
Quick, affordable transfers around the world. Remitly also has an express option that can transfer your money in minutes for a higher fee. The cheaper option takes several days. Go to site Show details
AUD 1 1 day AUD 0.00 0.659 USD
6,594
Get fast transfers with no fees and a range of foreign currency tools. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.656 USD
6,560
Special offer: Zero fees on your first 10 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 0.655 USD
6,545
Use promo code 3FREE to send your first 3 transfers with no fee.
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
Go to site Show details
AUD 200 1 day AUD 0.00 0.657 USD
6,575
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. 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.

Related Posts

International Money Transfer Offers

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

SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.

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 SendFX International Money Transfers
SendFX International Money Transfers

SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.

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.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site