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Money Know-How

Compare our 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 Zero-Margin FX Rate Stack InstaReM Up Against Competition?

To validate our claim, we benchmarked ourselves against the competition during the last week of July 2018. Even those competitors which claim Zero Transfer Fees. Our research of comparison with a cross-section of the industry concludes that InstaReM is the most cost-effective among its competitors in most of the corridors!

AUSTRALIA

We conducted desktop research into five currency corridors – from AUD to INR, EUR, GBP, USD, and VND, comparing InstaReM with some of its key competitors in Australia, on 31 August 2018. Below were the receiving amounts with banks and other service providers:

Data collected for AUD 1,000 on 31 August 2018      Sources: Respective Company Websites

SINGAPORE

Desktop research of SGD 1000 were initiated in five currency corridors – from SGD to INR, IDR, PHP, GBP, and USD from Singapore on 31 August 2018. Below were the receiving amounts of with banks and other service providers:

Data collected for SGD 1,000 on 31 August 2018     Sources: Respective Company Websites

HONG KONG

A desktop research was initiated in five currency corridors – from HKD to INR, EUR, GBP, USD, and the PHP from Hong Kong on 31 August 2018. Below were the  receiving amounts of transactions of HKD 1000 with banks and other service providers:

Data collected for HKD 1,000 on 31 August 2018      Sources: Respective Company Websites

MALAYSIA

A desktop research was initiated in five currency corridors – from MYR to INR, AUD, GBP, USD, and SGD on 31 August 2018. Below were the receiving amounts of transactions of MYR 1000 with banks and other service providers:

Data collected for MYR 1,000 on 31 August 2018      Sources: Respective Company Websites

EUROPEAN UNION

A desktop research was initiated in five currency corridors – from EUR to INR, USD, PHP, VND, and SGD on 31 August 2018. Below were the receiving amounts of transactions of EUR 1000 with banks and other service providers:

Data collected for EUR 1,000 on 31 August 2018      Sources: Respective Company Websites

UNITED STATES OF AMERICA

A desktop research was initiated in six currency corridors – from the USD to INR, GBP, PHP, SGD, IDR, and VND on 31 August 2018. Below were the receiving amounts of transactions of USD 1000 with banks and other service providers:

Data collected for USD 1,000 on 31 August 2018      Sources: Respective Company Websites

UNITED KINGDOM

A desktop research was initiated in seven currency corridors-  from GBP to INR, USD, PHP, VND, SGD, IDR and LKR on 31 August 2018. Below were the receiving amounts of transactions of GBP 1000 with banks and other service providers:

Data collected for GBP 1,000 on August 2018      Sources: Respective Company Websites

A mystery shopping exercise conducted by London-based Charterhouse Research, a leading specialist financial market research house, to compare InstaReM’s cost against leading high-street banks in the UK (HSBC, Lloyds, Natwest, Barclays and Santander) in July 2018 found that the high-street banks are between 9 and 30 times more expensive than InstaReM. To download the complete report click here.

InstaReM was found to be the most cost-effective service provider in the majority of the corridors included in this research. This is further supported by the fact that InstaReM ranks as #1 cost-effective money transfer platform in multiple corridors, originating from Singapore (to India, Bangladesh, Indonesia, Sri Lanka, Thailand) and Australia (to Indonesia, Malaysia, The Philippines, Sri Lanka, Vietnam) as per the Remittance Prices Worldwide (RPW) database of the World Bank that compares the cost of sending and receiving small amounts of money from one country to another.

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’s Zero-Margin FX platform for their overseas money transfers!