Instarem alternatives

Compare the best Instarem alternatives for Singaporeans to send money overseas.

By   |   Verified by David Boyd   |   Updated 26th September 2022

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Comparing Instarem alternatives

Remitly

On Remitly's website

Remitly

Minimum Transfer Amount

$10.00

Transfer Speed

Within an hour

Transfer Fee

$4.00

Highlights

  • Funds are available for most recipients minutes after being sent from Singapore.
  • Choose from a variety of delivery options. Among others, cash can be delivered to recipients or picked up at a convenient location.
  • Competitive exchange rates and fees.

Pros

  • Low transaction fees.
  • Plenty of delivery options.
  • Wide global network, covering 50+ currencies and countries.
  • Highly rated customer support.

Cons

  • Fees apply when you fund your account using a credit card.
  • Transfer limits apply.
Wise

Wise

Minimum Transfer Amount

$1.00

Transfer Speed

1 - 2 days

Transfer Fee

$0.00

Highlights

  • Hold and send 50+ currencies from Singapore to recipients around the world.
  • Money transfers can be funded with debit cards, credit cards, and bank transfers.
  • Get a debit card to spend like a local whether you are in Singapore or overseas.

Pros

  • Low and competitive fees.
  • Easy to understand fee structure.
  • Easy to use website and mobile apps.
  • High transfer limit.

Cons

  • Limited currencies and destination countries compared with some competitors.
  • Can only send funds to the recipient's bank account.
Revolut

On Revolut's website

Revolut

Minimum Transfer Amount

$1.00

Transfer Speed

Within an hour

Transfer Fee

$0.00

Highlights

  • Transfer currency with competitive exchange rates and transparency.
  • Money transfers between Revolut friends are free.
  • Buy crypto, commodities, and stocks. Earn cashback rewards and much more.

Pros

  • The standard account has no monthly fees.
  • Top-up and hold account balances in various currencies.
  • Lots of different additional features are available, such as crypto trading and disposable virtual cards.
  • Has a well-designed mobile app.

Cons

  • Monthly fees apply to certain types of accounts.
  • You may experience delays when sending money internationally.
WorldRemit

WorldRemit

Minimum Transfer Amount

$1.00

Transfer Speed

Within an hour

Transfer Fee

$0.00

Highlights

  • Transfer fees are typically around $1 to $4 per transaction.
  • Fund transfers with a bank transfer, debit card, credit card, prepaid card, Apple Pay, or Google Pay.
  • Recipients can collect cash locally. Funds can also be deposited in their bank account or sent to their mobile phone as a top-up.

Pros

  • Low transfer fees.
  • No minimum transfer amount is required.
  • Multiple payment options.
  • Cash pick-up, cash delivery, and Airtime mobile phone top-up are available.

Cons

  • Transaction limit of $5,000 for some payment methods.
  • Fees depend on the method and currency you choose.
OFX

OFX

Minimum Transfer Amount

$250.00

Transfer Speed

1 - 2 days

Transfer Fee

$0.00

Highlights

  • Transparent and easy-to-understand fee structure from an established money transfer service.
  • Send a wide range of currencies with no maximum transfer amount for most.
  • A solid option for online sellers, importers, and companies with remote staff overseas.

Pros

  • Easy and quick account opening.
  • Wide range of supported currencies and countries.
  • No fees if transferring more than $10,000.
  • Enjoy additional features for business transfers.

Cons

  • Limited payment options.
  • $15 fee if transferring less than $10,000.
YouTrip

YouTrip

Minimum Transfer Amount

$1.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Send 150+ currencies using competitive rates and with no hidden charges.
  • Get a YouTrip card that you can use to spend like a local when overseas or shopping online.
  • Simple, convenient, and transparent.

Pros

  • Free and quick account sign-up.
  • Easy and convenient to use.
  • You can get a YouTrip card to make withdrawals overseas.

Cons

  • No option for bank transfer.
  • There is a $5 overseas ATM withdrawal fee.
Aspire

Aspire

Minimum Transfer Amount

$1.00

Transfer Speed

1 day

Transfer Fee

$0.00

Highlights

  • Geared towards businesses and freelancers who can take advantage of the borderless account.
  • Issue corporate cards, manage expenses, and integrate with your accounting software.
  • Integrates with major online marketplaces. Collect payments in USD or SGD.

Pros

  • Offers an integrated financial solution to business owners.
  • No minimum deposit.
  • No monthly fees.
  • Earn rewards.

Cons

  • No cash or cheque deposits.