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Money Know-How

Zero-Margin FX Rates – Your Money Can #DoMore For You

In an industry that is riddled with high transfer costs, FX spreads and hidden charges, InstaReM is providing its clients Best Transfer Amount Guarantee.  In a pursuit to make overseas money transfers cost-effective for individuals and businesses alike, InstaReM offers Zero-Margin FX Rates.

What are Zero-Margin FX Rates?

Remittance service providers like InstaReM, receive a mid-market FX rate from their rate provider. This is the dynamic midpoint between the “buy rate” and “sell rate” of foreign currencies in the world currency markets. To this rate, service providers add a margin which results in a higher remittance cost for the end user.

At InstaReM, we offer Zero-Margin FX rates sourced directly from Reuters and add absolutely no margins to the rates. You get to transfer at mid-market rates served fresh to you, straight from the currency markets!

Check our Zero-Margin FX Rates and Sign Up here.

How does InstaReM Provide Best Transfer Amount Guarantee?

With it’s Zero-Margin FX Rate and low transfer fees, InstaReM is able to provide highly cost-effective money transfers to its clients. Specifically for clients in Australia, Singapore, Malaysia, Hong Kong and India, InstaReM provides the Best Transfer Amount Guarantee to the countries where InstaReM remits monies.
To make it more interesting, InstaReM is currently inviting users in Australia, Singapore, Malaysia and Hong Kong to take the Best Transfer Amount Challenge. Here is what you need to do:
  • Compare: Compare our ‘Receiving Amount’ to that on a competitor site for the same currency pair.
  • Share: Share screenshots of the competitor and InstaReM amounts from your registered email id.
  • Win: We match the amount you found for your next transfer* and you qualify for a chance to win the prizes!

 

How Does Best Transfer Amount Guarantee & Zero-Margin FX Rate Stack InstaReM Up Against Competition?

We enlisted Medici, a world-leading fintech research firm, to independently benchmark InstaReM against the competition. Even those competitors which claim Zero Transfer Fees. The research concluded that InstaReM is the most cost-effective among its competitors!

AUSTRALIA

Actual transactions of AUD 1000 and desktop research were initiated in five currency corridors – from AUD to INR, EUR, GBP, USD, and VND. Below were the receiving amounts with banks and other service providers:

Download the complete report here.

SINGAPORE

Actual transactions of SGD 1000 and desktop reset were initiated in five currency corridors – from SGD to INR, IDR, PHP, GBP, and USD. Below was the receiving amounts of with banks and other service providers:

Download the complete report here.

We also carried out desktop research on aggregator sites to benchmark InstaReM against the competition in the below countries. The research revealed the following as on May 10, 2018:

HONG KONG

A desktop research was initiated in five currency corridors – from HKD to INR, EUR, GBP, USD, and the PHP. Below were the  receiving amounts of transactions of HKD 1000 with banks and other service providers:

Source: bestexchangerates.com remitfinder.com mozo.com.au, www.monito.com

MALAYSIA

 A desktop research was initiated in five currency corridors – from MYR to INR, AUD, GBP, USD, and SGD. Below were the receiving amounts of transactions of MYR 1000 with banks and other service providers:

Source: bestexchangerates.com remitfinder.com mozo.com.au, www.monito.com

Europe

A desktop research was initiated in five currency corridors – from EUR to INR, USD, PHP, VND, and SGD. Below were the receiving amounts of transactions of EUR 1000 with banks and other service providers:

Sources: fxcompared.com, www.finder.com, www.monito.com/en & mozo.com.au

 

USA

A desktop research was initiated in six currency corridors – from the USD to INR, GBP, PHP, SGD, IDR, and VND. Below were the receiving amounts of transactions of USD 1000 with banks and other service providers:

Sources: fxcompared.com, www.finder.com, www.monito.com/en & mozo.com.au

 

UK

A desktop research was initiated in seven currency corridors-  from GBP to INR, USD, PHP, VND, SGD, IDR and LKR. Below were the receiving amounts of transactions of GBP 1000 with banks and other service providers::

Sources: fxcompared.com, www.finder.com, www.monito.com/en & mozo.com.au

 

InstaReM was found to be the most cost-effective service provider in all the corridors included in this research. This is further supported by the fact that World Bank lists InstaReM as #1 cost-effective money transfer platform from Australia to India,  Singapore to India, and several other corridors.

Conclusion

Among all the remittance players analyzed for these above payment corridors, InstaReM is found to be the most cost-effective money transfer service giving the Best Transfer Amount indeed.

There’s a reason after-all why clients prefer the InstaReM Zero-Margin FX platform for their overseas money transfers!