Instarem vs TransferGo
Which provider is better for sending money from the UK to India? Compare fees, exchange rate margins, delivery speed and what your recipient actually receives.
The bottom line: sending £1,000 from the UK, TransferGo delivers ₹126,214 and Instarem ₹125,973, so your recipient gets ₹241 more with TransferGo. Instarem charges a £4.00 fee with a margin of about 0.45% in its rate, paid by Faster Payments; TransferGo charges a £3.99 fee with a margin of about 0.26% in its rate, paid by Faster Payments.
Quick verdict
Choose Instarem if you want…
- Low currency margins & Singapore / Australia corridor efficiency
- Tight FX margins (often 0.4% to 0.8%) competing closely with mid-market rates
- Seamless PayNow integration in Singapore and PayID in Australia
- Does not provide physical cash pickup options in India
Choose TransferGo if you want…
- Tight exchange rates on UK to India bank transfers
- Authorized and regulated by the UK Financial Conduct Authority (FCA)
- Flat £3.99 fee on bank-funded transfers with a tight exchange rate margin
- Active for UK-to-India remittances; inactive for US, Canada, Australia, Singapore, and UAE
What your recipient gets at each amount
Indicative net rupee payouts for GBP → INR transfers, based on published fee schedules and benchmark snapshots.
Score breakdown, side by side
Each provider's TransferGauge Score across the seven weighted dimensions. How we score
Side-by-side details
| Metric | IN Instarem | TG TransferGo |
|---|---|---|
| Exchange rate model | Retail rate, +0.45% margin | Retail rate, +0.26% margin |
| Transfer fees | Instarem charges a small percentage fee (typically 0.25% to 0.50%) with FX spreads that remain tightly pegged to near-wholesale rates. | TransferGo charges a flat £3.99 fee on bank-funded transfers to India, deducted from the send amount, plus a currency margin of about 0.26% below the mid-market rate. Express delivery options carry incremental charges. |
| Typical delivery | Transfers using UPI receiving options or PayNow typically deliver within 15 to 30 minutes. Bank clearing takes 1 business day. | Bank-funded transfers via UK Faster Payments typically settle in India within 1 business day. Eligible debit card transfers can arrive in hours. |
| Receiving methods | Bank accountUPICash pickup (not supported) | Bank accountUPICash pickup (not supported) |
| Routes to India | 5 corridors | 1 corridor |
| Headquarters | SingaporeFounded 2014 | London, United KingdomFounded 2012 |
| Full review | Read Instarem review | Read TransferGo review |
Summary advice
Both providers earn the same TransferGauge Score (92) on our standard benchmark. The better choice still depends on your amount, how your recipient wants to be paid, and how quickly the money needs to arrive.
All figures are indicative benchmarks. Always verify live rates, fees and delivery options on the provider's website before sending money.
Related comparisons
Compare every provider for your amount
See Instarem, TransferGo and the rest ranked side by side.