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 FOREX: Instarem v BigPay v Transferwise, True as at 6/7/2020

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Ramjade
post Feb 24 2021, 10:27 AM

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QUOTE(kart @ Feb 24 2021, 06:31 AM)
In general, we get better conversion rate from MYR to SGD during office hour, right?
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Yes. Always. Hence I do my transaction during office hours.


QUOTE(Takudan @ Feb 24 2021, 10:20 AM)
I wasn't aware that they have a different rate during office hour O.o
Alright I did another comparison as below, funny BigPay doesn't allow me to screenshot in the phone app...
user posted image
user posted image

SunwayMoney has a much better rate now, but still very slightly losing out to bigpay on larger amount.
BigPay uses the exact same rate as yesterday night (12h ago), which was slightly higher, so the gap seems bigger to the other 2. I'm surprised to see Instarem and TW having such a shitty rate, in fact I used TW last year as it was the best at that time.

Conclusion:
1k = SunwayMoney
3k-10k=BigPay
20k+ = SunwayMoney
SunwayMoney is the best choice if BigPay indeed has max 10k/transfer. I didn't see anywhere in the app though... then again I don't have more than 10k to see the app rejecting my transaction lol.
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Max amount you can have inside bigpay is rm10k.
Ladszy
post Mar 6 2021, 09:44 AM

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QUOTE(Ramjade @ Jan 30 2021, 10:10 PM)
Intially but I stopped using them after seeing that I am getting less foreign currency per RM. Don't know how many months I never use Instarem already. Nowadays it's Sunway money, Bigpay, Transferwise (whoever is the cheapest at that time - more foreign currency per rm)
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What's your experience with sunway money? Do they often fuss for supporting documents? Submitted my e-kyc documents twice but they don't seem to be getting it thus stopped registering with them for now.
LostAndFound
post Mar 6 2021, 10:21 AM

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QUOTE(Ladszy @ Mar 6 2021, 09:44 AM)
What's your experience with sunway money? Do they often fuss for supporting documents? Submitted my e-kyc documents twice but they don't seem to be getting it thus stopped registering with them for now.
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Sunway Money didn't allow my e-KYC, so I had to manually verify my identity at their booth in Sunway Pyramid. Was less than a day after that that I got the account working.
Ramjade
post Mar 6 2021, 10:54 AM

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QUOTE(Ladszy @ Mar 6 2021, 09:44 AM)
What's your experience with sunway money? Do they often fuss for supporting documents? Submitted my e-kyc documents twice but they don't seem to be getting it thus stopped registering with them for now.
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No problem with them. All my application done online. Fuss free for me. I am repeated customer because their rates are super good.
MGM
post Mar 6 2021, 04:11 PM

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QUOTE(Ramjade @ Mar 6 2021, 10:54 AM)
No problem with them. All my application done online. Fuss free for me. I am repeated customer because their rates are super good.
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Is this Sunway Money good for sending tuition fees of Euro 42(per lesson per week) to Austria's bank account?

This post has been edited by MGM: Mar 6 2021, 04:12 PM
Ramjade
post Mar 6 2021, 05:21 PM

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QUOTE(MGM @ Mar 6 2021, 04:11 PM)
Is this Sunway Money good for sending tuition fees of Euro 42(per lesson per week) to Austria's bank account?
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Compare the rates. I know Sunway money is good for SGD. Maybe TW is cheaper.
Takudan
post Mar 6 2021, 09:03 PM

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QUOTE(MGM @ Mar 6 2021, 04:11 PM)
Is this Sunway Money good for sending tuition fees of Euro 42(per lesson per week) to Austria's bank account?
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I just made my spreadsheet public for viewing so you can consider making a copy and do your own comparison. https://docs.google.com/spreadsheets/d/1DF1...#gid=1671928582

It should work for every currency conversion that google supports haha.
taiping...
post Apr 4 2021, 01:44 PM

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i am planning to open instarem account

any referal?

Murasaki322
post Apr 4 2021, 02:15 PM

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QUOTE(taiping... @ Apr 4 2021, 01:44 PM)
i am planning to open instarem account

any referal?
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Check your inbox for pm
Ramjade
post Apr 4 2021, 03:48 PM

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QUOTE(taiping... @ Apr 4 2021, 01:44 PM)
i am planning to open instarem account

any referal?
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Don't bother with instarem. Nowadays they have lousy rates. I have not used them for almost a year already cause they are more expensive Vs others (I get less foreign currency when I use instarem Vs others)
SUSTOS
post Apr 4 2021, 04:34 PM

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QUOTE(Ramjade @ Apr 4 2021, 03:48 PM)
Don't bother with instarem. Nowadays they have lousy rates. I have not used them for almost a year already cause they are more expensive Vs others (I get less foreign currency when I use instarem Vs others)
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So what is your new recommendation, sifu? biggrin.gif
taiping...
post Apr 4 2021, 04:45 PM

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QUOTE(Ramjade @ Apr 4 2021, 03:48 PM)
Don't bother with instarem. Nowadays they have lousy rates. I have not used them for almost a year already cause they are more expensive Vs others (I get less foreign currency when I use instarem Vs others)
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So much to keep up

I was just reading On IB from first based on ur recommendation of IBKR

Now hav to change strategy of reading

This post has been edited by taiping...: Apr 4 2021, 04:46 PM
Takudan
post Apr 4 2021, 04:52 PM

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QUOTE(TOS @ Apr 4 2021, 04:34 PM)
So what is your new recommendation, sifu? biggrin.gif
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The whole point of this thread is to compare the transfer rates offered by various parties everytime you want to make a transfer. Any fintech you can get your hands on means you should always add it to the list for comparison. There's no one true answer that is applicable forever because the rates are always changing, and some of them get promotional rates sometimes.

I do have to agree with Ramjade that Instarem's rate has been disappointing though. Of all 3 of my transfers since last year, Instarem was almost always in the last place. I don't actually have Instarem account atm because i heard the procedures are kind of a hassle (interview at their branch and whatnot..?), but the good thing about them is that I can compare their rates without logging in. Wise and BigPay have to log in, and BigPay is on the phone only.

This post has been edited by Takudan: Apr 4 2021, 04:52 PM
SUSTOS
post Apr 4 2021, 06:02 PM

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QUOTE(Takudan @ Apr 4 2021, 04:52 PM)
The whole point of this thread is to compare the transfer rates offered by various parties everytime you want to make a transfer. Any fintech you can get your hands on means you should always add it to the list for comparison. There's no one true answer that is applicable forever because the rates are always changing, and some of them get promotional rates sometimes.

I do have to agree with Ramjade that Instarem's rate has been disappointing though. Of all 3 of my transfers since last year, Instarem was almost always in the last place. I don't actually have Instarem account atm because i heard the procedures are kind of a hassle (interview at their branch and whatnot..?), but the good thing about them is that I can compare their rates without logging in. Wise and BigPay have to log in, and BigPay is on the phone only.
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Totally agree with you. Rates fluctuate all the time. My experience is kind of the opposite of you guys though. My Instarem rate is better than TW.


Murasaki322
post Apr 4 2021, 07:20 PM

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Compare all fintec you can register with.
Instarem
Wise
Sunway money
Big pay
Money match

I only used instarem for its first time because of referral promo, reduced RM25-ish or something. Other times it is usually TransferWise or Sunway Money that gives the best value.
Ramjade
post Apr 4 2021, 07:56 PM

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QUOTE(TOS @ Apr 4 2021, 04:34 PM)
So what is your new recommendation, sifu? biggrin.gif
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Sunway money, TransferWise.

QUOTE(taiping... @ Apr 4 2021, 04:45 PM)
So much to keep up

I was just reading On IB from first based on ur recommendation of IBKR

Now hav to change strategy of reading
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You just follow me or bookmark my page.

QUOTE(Murasaki322 @ Apr 4 2021, 07:20 PM)
Compare all fintec you can register with.
Instarem
Wise
Sunway money
Big pay
Money match

I only used instarem for its first time because of referral promo, reduced RM25-ish or something. Other times it is usually TransferWise or Sunway Money that gives the best value.
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For me Sunway money, TransferWise.

waghyu
post Apr 4 2021, 07:58 PM

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Withdraw direct to HSBC USD account best deal
KenYoung
post Apr 9 2021, 03:10 AM

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Any1 got a sunway money referrer code?
LostAndFound
post Apr 9 2021, 12:16 PM

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QUOTE(KenYoung @ Apr 9 2021, 03:10 AM)
Any1 got a sunway money referrer code?
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Don't think sunway money has a customer-to-customer referrer code. If you check their facebook account last month they had an RM30 promo, the code on signing up is for those sort of code.
KenYoung
post Apr 9 2021, 03:54 PM

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Sunway money can send frm sgd acc to myr? I'm in Malaysia now

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