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Remittance/Instarem Money Transfer
Remittance/Instarem Money Transfer
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Instarem Singapore Review 2021

Instarem is a digital remittance service in Singapore that provides secure and fast remittance at competitive and transparent prices (often better than what the big banks and other money transfer operators or remittance platforms charge, with minimal markup).

Cross borders payments and transfers are fast and easy through the user-friendly app, and you can get your money transferred within the same business day.

The platform is ideal if you want wide market access to over 50 countries.

And it even has a loyalty program where you can earn InstaPoints each time you make a transfer or make a referral. Ultimately, you can redeem InstaPoints on transfers!

...see more

Instarem Money Transfer

0.25% to 1% of Mid-market rate

TRANSACTION FEES

$200

MIN. TRANSFER AMOUNT

1 to 2 days

TRANSFER SPEED

40+

SUPPORTED COUNTRIES

Instarem Money Transfer

0.25% to 1% of Mid-market rate

TRANSACTION FEES

$200

MIN. TRANSFER AMOUNT

1 to 2 days

TRANSFER SPEED

40+

SUPPORTED COUNTRIES

Reviews (858)

4.7

858 Reviews

5
679
4
130
3
15
2
6
1
28

Service Rating

Customer Support

4.5

Ease of Transfer

4.7

User Experience

4.6
    Most HelpfulMost RecentLow to HighHigh to Low
    pinned

    Pinned by Instarem

      21 Jun 2021

      Purchased

      Instarem Money Transfer

      Best Exchange Rates in Market Very easy to transfer the money Super Cool User Interface No hidden charges

      1

      What are your thoughts?

      Instarem

      Instarem

      21 Jun 2021

      Hi Raju, We are thrilled to hear that you had a wonderful experience while remitting with Instarem. Also, thank you for finding the time to share your positive experience with others!

      Posted 1h ago

      Purchased

      Instarem Money Transfer

      Instarem was superb at the beginning. But the rates are now not as good as before. I received a promo code 19hrs ago that says last 24 hours to use $5 promo code, but alas it expired. There are still good reasons why i still use it. Mostly because Revolut Metal has a 30k annual limit.

      0

      What are your thoughts?

      Posted 13h ago

      Purchased

      Instarem Money Transfer

      Just transferred some $$ to Malaysia using $5 bonus promo code… Transfer is smooth and fast but exchange rate is still not as good as the competitor (W). It was better previously but not sure why InstaREM down the exchange rate..

      5

      What are your thoughts?

      Hi INSTAREM, please assist to expedite IN03386142
      Thank you

      View 4 other comments

      Posted 21h ago

      Purchased

      Instarem Money Transfer

      [Ease of Transfer] I really enjoying ease of transfer with Instarem. It’s so simple and money transfer is quite fast as well.

      0

      What are your thoughts?

      Posted 2d ago

      Purchased

      Instarem Money Transfer

      Fast transfer and no hassle in the process. Rates are competitive. App experience is good. Promotions are good to.

      0

      What are your thoughts?

      Posted 2d ago

      Purchased

      Instarem Money Transfer

      Gets the best exchange in minimum fees, and very quick and secured transfer. Definitely will recommend to use Instarem to others.

      0

      What are your thoughts?

      Posted 4d ago

      Purchased

      Instarem Money Transfer

      This is really amazing service. I have compared it with sevralothers but I always get great deal with Instarem

      0

      What are your thoughts?

      Posted 6d ago

      Purchased

      Instarem Money Transfer

      Best Exchange Rates in Market Super quick and easy to use interface Easy to transfer the money Recomended

      0

      What are your thoughts?

      Posted 7d ago

      Purchased

      Instarem Money Transfer

      Awesome service Instarem is providing. Ultra fast service. I loved it. It’s been great association with them for more than year

      0

      What are your thoughts?

      Posted 7d ago

      Purchased

      Instarem Money Transfer

      It's easy to use, fast transactions, great rates and clear break down for every transactions. Highly recommended! :)

      0

      What are your thoughts?

    Discussions (0)
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      About Instarem

      Instarem is a leading digital cross border payments platform that enables consumers and SMEs to send and collect international money transfers conveniently and securely. Connected in over 100 markets and 65 markets in real-time, Instarem seeks to make global money transfers quick, easy, and cost-effective. Instarem is a licensed service provider with licenses in Australia, Singapore, Hong Kong, Malaysia, India, UK, US, EU and Canada. .

      Features of Instarem

      • Zero-Margin FX Rates: mid-market exchange rates sourced directly from Reuters and while there are no margins, a nominal fee will be charged
      • Fast & Easy Transfers: After account verification, the recipient of the transfer will typically receive the money in 1-2 days
      • Loyalty Points: Bonus InstaPoints will be awarded upon account creation and after each transfer. InstaPoints can be redeemed against your transactions
      • Low nominal fees that differ with different destinations
      • Many reviews cite Instarem having one of the most competitive exchange rates in Singapore, with minimal mark-ups, and a transparent fee structure
      • Instarem also offers corporate account for businesses that require transacting in various currencies often. Instarem helps remove complexities from business payments and introduce you to fast, cost-effective international payments, executed through competitive FX rates and low to help you save big, as well as a seamless transparent platform to to better track your business transactions.
      • The Instarem app also has a decent UI that is user-friendly and convenient for facilitating money transfer. With Instarem’s mobile apps, you can send money seamlessly, monitor your transfers and check the status of your transfers

      How Does Instarem Work?

      All you need to do is sign up for an Instarem account:

      1. Sign up on Instarem with your email, Google or Facebook account
      2. Fill up your personal details
      3. Upload supporting official documents for verification
      4. Verify your mobile using the 6 digit code sent to your registered phone number
      5. Set up your transfers by entering your desired currency and amount into Instarem's calculator to check exactly how much your recipient will get
      6. Choose your transfer method, fill up your recipient's details and voila! they'll be wired the money

      If you own a small or medium business, you can also set up a business account and use InstaReM as your global payment solution to send, spend, and receive money.

      Countries Available for Transfer with Instarem

      Instarem supports cross border payments and transfers across:

      • Asia: Bangladesh, China, Hong Kong, India, Indonesia, Malaysia, Nepal, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Thailand, and Vietnam
      • Europe: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherland, Portugal, Spain, and UK
      • North America: USA, Canada, Mexico
      • Oceania: Australia

      Which countries levy taxes on outward flow of money?

      While most countries do not levy taxes on outward flow of money, India imposes GST both on currency conversion and the service charge. Malaysia imposes GST on service changes for outward remittance transaction.

      Which countries levy taxes on inward flow of money?

      Few Latin American countries levy taxes on inward remittances. While Instarem deposits the exact amount to the recipient that you see on the screen while setting up the transfer, the recipient's bank may deduct taxes from the receiving amount at their end.

      Contact Instarem

      • Contact number: +65 6950 1132
      • Address: NIUM, #20-05, Hong Leong Building, ​16, Raffles Quay​, Singapore 048581​

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.