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Instarem Money Transfer

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  • Claimed in August 2020
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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

Popular Products

Summary

Product Page Transparency

  • Claimed in August 2020
  • Pays to access additional features

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 (1319)

4.7

1319 Reviews

5
1081
4
170
3
24
2
7
1
37

Service Rating

Customer Support

4.6

Ease of Transfer

4.8

User Experience

4.7

      Posted 3d ago

      Purchased

      Instarem Money Transfer

      Amazingly fast transfers with good (FRx) rates!!! I always use this and will continue using this app for all my remittances!!

      0

      What are your thoughts?

      Posted 4d ago

      Purchased

      Instarem Money Transfer

      Have been using this service for transfer for last 6 years. It's getting easier and faster. Loved the service.

      0

      What are your thoughts?

      Posted 5d ago

      Purchased

      Instarem Money Transfer

      Easy transfer on same day with higher rates compare to banks and other platforms. Highly recommended

      0

      What are your thoughts?

      Posted 5d ago

      Purchased

      Instarem Money Transfer

      Easy to use and transfer with good exchange rates. Better than transferring through banks. Highly recommended

      0

      What are your thoughts?

      Posted 5d ago

      Purchased

      Instarem Money Transfer

      Ease to use interface and fee is so much lower with very good exchange rate, resulting in higher amount transfer

      0

      What are your thoughts?

      Posted 6d ago

      Purchased

      Instarem Money Transfer

      [Exchange Rates] Exchange rates are best [Ease of Transfer] Very easy to transfer [User Interface] Simple and no clutter in user interface [Others] The fastest transfer mode for foreign remittance

      0

      What are your thoughts?

      Posted 6d ago

      Purchased

      Instarem Money Transfer

      [Exchange Rates] I didn't know they give points i can spent yo get discount . Safe, fast and cheap. Thank you for the service

      0

      What are your thoughts?

      Posted 8d ago

      Purchased

      Instarem Money Transfer

      [User Interface] [Ease of Transfer] [Exchange Rates] I always use this to transfer money to my helper’s family. Initial transfer will take a while but the subsequent transfers are always within 5 mins. Rates are competitive and saves my helper a trip from going out to remit $.

      0

      What are your thoughts?

      Posted 8d ago

      Purchased

      Instarem Money Transfer

      [User Interface] The interface was simple and easy to use. [Ease of Transfer] It was seamless from linking up my bank acc to initiating the transfer. It all took less 10mins to complete and they let you know when it has reached the recipient. [Others] Service fee was competitive compared to other remittance companies.

      0

      What are your thoughts?

      Posted 10d ago

      Purchased

      Instarem Money Transfer

      compared to other remit app or services, thiabia by far the best with no hidden charges instapoints is good!

      0

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    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.