InstaReM vs Monzo - Who is better? [UPDATED 2024]

When it comes to sending money across borders, we tested options like InstaReM and Monzo have emerged as leading choices. Both InstaReM and Monzo online platforms offer efficient and cost-effective and secure international money transfers from InstaReM and Monzo.

We compare InstaReM vs Monzo into the unique features and benefits that distinguish InstaReM vs Monzo, empowering you to make an informed decision based on your specific transfer needs like InstaReM vs Monzo fees, currencies available, available payment methods on InstaReM compared to Monzo, support options offered by InstaReM vs Monzo, speed and more.

InstaReM vs Monzo: Quick Feature Comparison

  1. Visit InstaReM alternative InstaReM Visit InstaReM

    Used By: 130000000
    Currencies Available: 11
    Transfer Fees: 0%-1%
    Payment Methods: bank transfer, POLi payment (Australia), debit card (EU residents), ACH Pull (US residents), FPX (Malaysian residents)
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: $1 (minimum sending amounts could differ based on certain currency pairs)
    Max Transfer: No limit (different countries have regulatory limits on outward and inward flow of remittances originating from or to the country)
    Year Founded: 2014

  2. Visit InstaReM alternative Monzo Visit Monzo

    Used By: 5,000,000
    Currencies Available: 1
    Transfer Fees: none
    Payment Methods: bank transfer, phone contact
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: none
    Max Transfer: 10000 GBP
    Year Founded: 2015

InstaReM vs Monzo: Pros and Cons

InstaReM vs Monzo
Advantages

InstaReM Advantages Monzo Advantages
  • InstaReM is well rated among clients.
  • InstaReM is available internationally.
  • InstaReM has multiple currency options.
  • InstaReM provides phone customer support.
  • InstaReM provides email customer support.
  • InstaReM is available to iOS Apple device users.
  • InstaReM is available to Android mobile device users.
  • Monzo boasts a high rating for sending money.
  • Monzo provides phone support.
  • Monzo offers registered customers email support.
  • Monzo has a Apple iOS app on Apple app store.
  • Monzo offers a Android Google Play Store mobile app.

InstaReM vs Monzo
Disadvantages

InstaReM Disadvantages Monzo Disadvantages
  • InstaReM has no PayPal support.
  • InstaReM has no Neteller payments support.
  • InstaReM has no Skrill payment support.
  • InstaReM does have a mobile digital wallet like some others.
  • No home delivery with InstaReM.
  • No cash pickups with InstaReM.
  • No money order support with InstaReM.
  • No live chat support with InstaReM.
  • Monzo has no PayPal option.
  • Monzo has no Neteller option.
  • Monzo has no Skrill option.
  • Monzo is not available is as many regions as some other providers.
  • Monzo has few fiat currency then some others.
  • No digital wallets with Monzo.
  • No Monzo home delivery.
  • No Monzo Cash pickups.
  • No Monzo money order option.
  • No Monzo Livechat.

InstaReM vs Monzo Fees and Other Costs

Fee type InstaReM Fees Monzo Fees
Transfer Fees 0%-1% none
Min Transfer $1 (minimum sending amounts could differ based on certain currency pairs) none
Max Transfer No limit (different countries have regulatory limits on outward and inward flow of remittances originating from or to the country) 10000 GBP
Payment Methods bank transfer, POLi payment (Australia), debit card (EU residents), ACH Pull (US residents), FPX (Malaysian residents) bank transfer, phone contact
Currencies AUS, SGD, HKD, INR, MYR, EUR, GBP, USD, CAD, JPY, NZD GBP

InstaReM vs Monzo Restricted Countries

InstaReM Country Restrictions

Afghanistan, Aland Islands, American Samoa, Angola, Anguilla, Antarctica, Antigua and Barbuda, Barbados, Belize, Benin, Bhutan, Bonaire (including Sint Eustatius and Saba), Bouvet Island, British Indian Ocean Territory, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Cocos (Keeling) Islands, Comoros, Congo, Democratic Republic of, Congo, Republic of, Cook Islands, Crimea, Cuba, Curacao, Djibouti, Equatorial Guinea, Eritrea, Faroe Islands, Fiji, French Guyana, French Polynesia, French Southern Territories, Gabon, Gambia, Greenland, Grenada, Guadeloupe, Guinea, Guinea-Bissau, Guyana, Haiti, Heard Island and Mcdonald Islands, Holy See (Vatican City State), Iran, Iraq, Ivory Coast (Cote d'Ivoire), Japan, Kiribati, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Liberia, Libya, Macao, Mali, Marshall Islands, Martinique, Mauritania, Mayotte, Micronesia, Federated States of, Montserrat, Myanmar, Namibia, Nauru, New Caledonia, Niger, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Palau, Palestinian Territory, Papua New Guinea, Reunion, Pitcairn, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sao Tome e Principe, Seychelles, Sierra Leone, Sint Maarten, Solomon Islands, Somalia, South Georgia and the South Sandwich Islands, Sudan (North and South), Suriname, Svalbard and Jan Mayen, Syria, Tajikistan, Timor-Leste, Togo, Tokelau, Tonga, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Vanuatu, Venezuela, Wallis and Futuna, Western Sahara, Western Samoa, Yemen, Zimbabwe, Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

Monzo Country Restrictions

Afghanistan, Aland Islands, American Samoa, Angola, Anguilla, Antarctica, Antigua and Barbuda, Barbados, Belize, Benin, Bhutan, Bonaire (including Sint Eustatius and Saba), Bouvet Island, British Indian Ocean Territory, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Cocos (Keeling) Islands, Comoros, Congo, Democratic Republic of, Congo, Republic of, Cook Islands, Crimea, Cuba, Curacao, Djibouti, Equatorial Guinea, Eritrea, Faroe Islands, Fiji, French Guyana, French Polynesia, French Southern Territories, Gabon, Gambia, Greenland, Grenada, Guadeloupe, Guinea, Guinea-Bissau, Guyana, Haiti, Heard Island and Mcdonald Islands, Holy See (Vatican City State), Iran, Iraq, Ivory Coast (Cote d'Ivoire), Japan, Kiribati, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Liberia, Libya, Macao, Mali, Marshall Islands, Martinique, Mauritania, Mayotte, Micronesia, Federated States of, Montserrat, Myanmar, Namibia, Nauru, New Caledonia, Niger, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Palau, Palestinian Territory, Papua New Guinea, Reunion, Pitcairn, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sao Tome e Principe, Seychelles, Sierra Leone, Sint Maarten, Solomon Islands, Somalia, South Georgia and the South Sandwich Islands, Sudan (North and South), Suriname, Svalbard and Jan Mayen, Syria, Tajikistan, Timor-Leste, Togo, Tokelau, Tonga, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Vanuatu, Venezuela, Wallis and Futuna, Western Sahara, Western Samoa, Yemen, Zimbabwe, Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

InstaReM vs Monzo Transfer Speeds

Transfer Speed InstaReM Monzo
Account Opening 1-3 days 1-3 days
Money Transfer Speed 1-10 days 1-10 days

InstaReM vs Monzo Languages

InstaReM Supported Languages

English

Monzo Supported Languages

InstaReM vs Monzo Verdict - Which is better?

Which is best out of InstaReM and Monzo depends on your needs.

  • InstaReM vs Monzo Transfer Fees: Transferring money with InstaReM costs 0%-1% while Monzo charges none.
  • InstaReM vs Monzo Supported Currencies: InstaReM deals in over 1, where as Monzo offers transactions in 1.
  • InstaReM vs Monzo Payment Methods: InstaReM accepts bank transfer, POLi payment (Australia), debit card (EU residents), ACH Pull (US residents), FPX (Malaysian residents), while Monzo allows transactions via bank transfer, phone contact.
  • InstaReM vs Monzo Transfer Limits: InstaReM allows transfers between $1 (minimum sending amounts could differ based on certain currency pairs) and No limit (different countries have regulatory limits on outward and inward flow of remittances originating from or to the country). Monzo's range is none to 10000 GBP.
  • InstaReM vs Monzo Minimum Age for Account Creation: InstaReM requires users to be at least 18 years old, where as Monzo has a minimum age requirement of 18.
  • Contact Number: You can reach InstaReM at 07 3053 8888 and Monzo at 00 44 20 3872 0620.
  • InstaReM vs Monzo Countries of Operation: InstaReM operates in over 1 countries but has restrictions in over 1 countries. Monzo serves 1 countries and restricts operations in 1 countries.
  • InstaReM vs Monzo Client Base: InstaReM is used by 130,000,000, where as Monzo serves 5.
  • InstaReM vs Monzo Year Founded: InstaReM was established in 2014 and Monzo began its operations in 2015.
  • InstaReM vs Monzo Customer Rating: InstaReM holds a rating of 4, in contrast, Monzo has a rating of 3.
  • InstaReM vs Monzo Headquarters: InstaReM has its headquarters at Singapore, while Monzo is based at London, UK.
  • InstaReM vs Monzo Employee Count: InstaReM employs 200 individuals, where as Monzo has a team of 1,551.
  • InstaReM vs Monzo Estimated Annual Turnover: InstaReM turnover stands at 10100000, while Monzo boasts a turnover of 80000000.
  • InstaReM vs Monzo Founder: InstaReM was founded by Sreya Dasgupta, holding the position of Product Owner. On the other hand, Monzo was the brainchild of Carol Kobuke Nelson, currently holding the position of CEO.
  • InstaReM vs Monzo Supported Languages: InstaReM offers support in over 1 languages. Monzo communicates in 1.

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Screenshots

InstaReM Screenshot

InstaReM Screenshot

Monzo Screenshot

InstaReM Screenshot