Instarem
7.7#14 in money transfer appsFree planFree planAndroidiOSWeb
VisitInstarem vs Wise
What both publish
| Fact | Instarem | Wise |
|---|---|---|
| Exchange-rate model | markup | mid_market |
| Founded | 2014 | 2011 |
| Free plan | No | Yes |
| Headquarters | Singapore | London, United Kingdom |
| Mobile platforms | both | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. |
| Purpose | Instarem provides international money transfers for individuals and cross-border payments for businesses. | The Wise app lets people send money, receive payments from abroad, check exchange rates, pay bills, and send money to loved ones. |
| Regulation | Instarem states that it is licensed and regulated in 11 jurisdictions. | Wise states it is authorised by the UK Financial Conduct Authority for issuing electronic money and works with a local bank partner to offer inward remittance service to India with RBI approval. |
| Scheduled transfers | Yes | Yes |
| Security | Instarem says it uses encryption in transit and at rest, regular vulnerability assessments, external penetration tests, and AWS Cloud security controls. | Wise says it safeguards customer money separately from its own and uses two-step authentication to protect accounts and transactions. |
| Support | Personal app users can submit a support query or start a live chat through the Help Centre. | Wise says its customer support is available by email, live chat, and phone, 24/7 in English and in 14 other languages. |
| Transfer speed | instant | On many popular routes, transfers can arrive within one day, the same day, or instantly. |
| Transfer tracking | Yes | The app shows the list and current status of transfers users have set up. |
Instarem plans
- Instarem BusinessFree
- Instarem PersonalFree
Wise plans
- Wise personal account and transfersFree
Pick Instarem if…
Instarem may suit individuals sending money internationally and businesses making cross-border supplier or employee payments. Businesses needing bulk transfers or virtual cards can also consider its listed tools, subject to market availability.
Pick Wise if…
Wise suits people sending money to overseas bank accounts or receiving payments from abroad. It may also suit users who want to track or schedule transfers and receive exchange-rate alerts.