Introduction
Sending or receiving money across borders is never easy. From settlement delays to hidden fees to compliance burdens, every transaction needs proper scrutiny and coordination. On top of that, the market is flooded with payment processing services that promise one good thing or the other, easily confusing even the most seasoned users.
Western Union and Instarem often land in the same conversation, both payment service providers offering different features. But which one is right for you? Let’s try to find out!
What are Western Union, Instarem, and Xflow?
Western Union is one of the oldest names in the global money transfer business, giving both individuals and businesses the ability to send and receive funds almost anywhere in the world. Beyond online transfers, it also runs a massive network of physical agent locations, which makes cash-based sending and receiving possible in places where digital banking isn't always accessible.
Instarem is an online payment platform that also helps both individuals and businesses with their global money transfer needs. It operates in over 160 countries and offers competitive pricing, along with a user-friendly website and app, to support global transfers.
Xflow is a cross-border payment system that caters to Indian businesses of all sizes. The platform is known for its wide global reach, transparent pricing with zero exchange rate markup, faster settlements, automated workflows, and several built-in compliance features.
Western Union vs Instarem: Core services compared
Both Western Union and Instarem share some common ground: you can set up personal transfers and business payments easily through their apps or websites, send money directly to your recipient’s bank, and rely on them with confidence since both are FCA-regulated in the UK.
Despite these similarities, how they deliver funds, pricing, and other features differ quite a bit, which is where the real comparison begins.
Key features of Western Union
- Allows payment through several payment methods, such as bank transfers, credit/debit cards, or cash.
- Supports multiple delivery methods like in-person cash pickup at agent locations.
- Strong security features – In-person verification, fraud protection, and encryption.
- Business-oriented features like mass payouts and FX risks management.
- A wide network of 525,000 agent locations for money transfers.
- Operates in 200-plus countries and territories.
- Real-time transaction tracking with MTCN, a unique tracking number.
- Unverified users can send up to £800 online, while verified users can transfer up to £4,000 every three days by card or up to £50,000 via bank account, with even higher limits available at physical agent locations.
Core services of Instarem
- Allows payment through various methods, including debit cards and direct bank transfers.
- Provides a virtual prepaid card.
- Multi-currency accounts to hold foreign currencies.
- Processing of up to 1000 payments into a single transaction.
- Encryption and fraud prevention for payment security.
- No limits for bank transfers, but a transfer limit of £10,000 for debit card payments.
Instarem vs Western Union exchange rates and fees: What you must know
| Fees | Instarem | Western Union |
|---|---|---|
| Transaction fee | The standard fee for sending money is 0.65% and for receiving money 0.30%. The actual fee changes depending on the amount, currency, payment method and country involved in the transaction. | Doesn’t charge a flat fee. The exact pricing depends on the transaction amount, the country involved, the payment method, and the delivery option. |
| Exchange rates | Zero markup on mid-market exchange rates. | Charges a markup on mid-market exchange rates. This also depends on the payment and delivery method. |
Currency, country and payout coverage: How wide is the reach?
Both Instarem and Western Union allow transfers in a wide range of countries. With Instarem, you can send money to over 60 countries and transact in more than 100 currencies for your business payouts.
Western Union, on the other hand, allows you to send money from India to over 70+ countries and territories. It also provides a wide global network of agent locations for in-person transfers and cash pickups.
Western Union vs Instarem: Speed, user experience and platform access
This is how the two platforms differ in terms of speed, user experience, and accessibility.
| Aspect | Western Union | Instarem |
|---|---|---|
| Speed | Speed depends on the payout option, destination, and payment method. There can be near-instant or "money in minutes" transfers in case of cash pickup/card payments, or a settlement time of 2 business days for standard bank transfers. | Speed depends on the countries involved in the transactions. Those with real-time payment infrastructure can receive instant transfers, and others might take close to 1 business day. No instant cash pickup available. |
| User experience | Western Union’s users highlight its global reach and intuitive interface. But, there are also problems like app glitches, unresponsive customer support, unclear refund policies, lengthy verifications, and delays in transfers. | Users generally praise Instarem for its user-friendly interface, competitive rates, and fast transfers. However, there are also issues of unresponsive customer service, difficulty in account setup, and a long verification process. |
| Platform access | Allows transfers through the website, mobile app, and in-person visits. | Allows transactions through its website and mobile app. |
Western Union vs Instarem: Use-case breakdown
Western Union and Instarem cater to both individuals and businesses. Because of this, they both support a broad category of users.
Western Union
Western Union is a good fit for people who need money to reach fast, especially when cash pickup is involved. It’s also handy if you’re sending to regions with limited banking access or want funds delivered within minutes using a debit/credit card.
Anyone who prefers flexible payment options, whether online, through the app, in person, or even via Google Pay and Klarna, will also find Western Union’s multi-channel setup quite convenient.
In short, Western Union works well for personal international transfers and can still serve freelancers, small businesses, and even NGOs. But its business-friendly features aren’t as strong as they used to be, mainly because its dedicated B2B arm – Western Union Business Solutions – was acquired by Convera in 2022.
Instarem
Instarem works well for both personal users and globally active businesses. Freelancers, startups, and SMEs especially benefit from its multi-currency accounts, batch payouts, and smooth integrations with tools like QuickBooks and Xero. There are no monthly maintenance fees, and the platform is also API-enabled for workflow automation.
Cost-effectiveness for Indian users: Which platform typically wins?
One of the most significant deciding factors is the cost. How much the platform will cost you can be a good indicator of its reliability and performance. Let’s have a look at how both of these platforms compare when you receive $1000 from the USA from one of your clients.
| Aspect | Western Union | Instarem |
|---|---|---|
| Amount sent in $ | $1000 | $1000 |
| Total amount received in INR | 89,310.00 INR | 88.4641 INR |
| Settlement time | 0-4 business days (with bank-to-bank transfer) | Within 7 hours (with wire transfers) |
These final amounts are based on the information provided by these platforms on their official pricing page.
Although Western Union will transfer more of the actual transaction over a longer time, it's also worth mentioning that providers like Western Union and Instarem also provide promotional or new customer offers, which can mean paying lower fees or getting a better exchange rate on your first transfer, which might not be the case in consecutive transfers.
How Xflow compares to Western Union and Instarem
Xflow takes a very different approach from Western Union and Instarem, one built specifically for Indian businesses that need predictable, fast, and fully compliant international payments. Here’s how Xflow compares:
- Minimal, transparent pricing of $12 and $20 for transactions up to $2,000 and $5000, respectively, with custom pricing above $10,000.
- No hidden markups or surprises.
- Built-in EDPMS management and eFIRA issuance– necessary for RBI and FEMA compliance.
- Business-ready tools like automatic invoicing, reconciliation, and integration with accounting software.
- Real-time transaction tracking.
- Customizable dashboards.
- Payment settlements within 24 hours.
- Cutting-edge features like payment links and white-label APIs.
- Tools like FX AI Analyst for valuable predictive insights on exchange rates to help you convert smartly.
- Limitless transactions with payments of more than $10,000 in a single invoice with full compliance.
- 24/7 withdrawal benefit.
- Local receiving accounts to help clients pay in preferred payment methods.
- An extremely dedicated support team.
Ready to cut costs, speed up settlements, and simplify global payments? Switch to Xflow and experience smoother cross-border transfers from day one. Sign up now and make international payments the easiest part of your business.
Pros and cons summary table
The table below summarizes the advantages and limitations of Western Union and Instarem.
| Factor | Western Union | Instarem |
|---|---|---|
| Pros | Multiple payment method support, real-time transaction tracking, payment security with fraud prevention, and a fee-free first-time transfer. | Transparent and competitive pricing, |
| Cons | Very basic business account features. Some cases of missing transactions and an unresponsive customer support team. Sometimes, transactions can be put on hold. | Delay in account opening, issues with the verification process, and poor customer service. Occasional issues of delayed transfers. No issuance of eFIRA. |
The final verdict: Which one should you choose?
After looking at the features, fees, speed, and global coverage of both Western Union and Instarem, one thing is clear that both these platforms excel in one thing and might fall short in others.
So the decision ultimately comes down to what your business needs most what type of business you have, what are your expectations when it comes to the transfer time, what pricing aligns best with your budget, what payment methods and delivery options you prefer, and how easy do you find the interface of the platform, and if the customer support responsive according to your needs.
Xflow is a platform built specifically for Indian businesses that provides the perfect combination of a clean, intuitive interface, business-focused automated tools, faster settlements, dedicated customer support, AI-powered FX insights, compliance-ready payment processing, and transparent and fixed pricing. Get started today and experience it all firsthand!
Frequently asked questions
Xflow follows a pricing that’s based on your invoice. It’s divided into three tiers:
1. Starter: For invoices up to $2,000, there is a flat $12 fee, and above that, a 0.6% fee.
2. Growth: For transfers up to $5,000, you’ll be charged flat $20, and anything above that is charged at 0.4%.
3. Scale: For larger, high-value invoices above $10,000, you can get a custom rate tailored to your volume.
Western Union is more suitable for personal transfers and lacks proper business payout features. Its customer support is also not very responsive, and there are occasional complaints about long verification processes and app glitches.
Instarem is also flagged for unresponsive customer service, account setup delays, and long verification process.
Xflow is purpose-built for Indian businesses, keeping their compliance needs at the forefront. It provides EDPMS management, eFIRA within 24 hours of the transaction, and is also known for its faster settlements, FX AI insights, and business-oriented tools, including invoicing, reconciliation, APIs, and seamless integration.
Western Union’s transfer limits depend on how much information you’ve provided and how you choose to pay. New or unverified users start with smaller online limits, but once your account is fully verified, you can send significantly higher amounts, especially if you pay via bank transfer or visit an in-person agent.
