facebookInstarem Money Transfer Reviews and Comparison - Seedly

Advertisement

Remittance/Instarem Money Transfer
Remittance/Instarem Money Transfer
claimed

Claimed

This product is managed by Instarem.

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

Popular Products

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 (985)

4.7

985 Reviews

5
794
4
141
3
15
2
7
1
28

Service Rating

Customer Support

4.5

Ease of Transfer

4.8

User Experience

4.7
      Posted 15h ago

      Purchased

      Instarem Money Transfer

      Well designed user interfacesy, easy and convenient payment methods and fast and efficient in transferring funds.

      0

      What are your thoughts?

      Posted 16h ago

      Purchased

      Instarem Money Transfer

      Absolutely brilliant app for transferring money, transaction completed within 30 minutes despite stated 4-hour window. Coupon code worked, offering a decent discount for first transaction. Really appreciate the high rate received for this transaction, truly chuffed!

      0

      What are your thoughts?

      Posted 2d ago

      Purchased

      Instarem Money Transfer

      Funds safely transferred within 3 mins. Fuss free with clear instructions. Very attractive exchange rates too.

      0

      What are your thoughts?

      Posted 2d ago

      Purchased

      Instarem Money Transfer

      Have been using Instarem for a few years now. The exchange rates are quite reasonable, and no hidden charges. The transfer is quite easy and the process is very fast. [Exchange Rates] [Ease of Transfer]

      0

      What are your thoughts?

      Posted 3d ago

      Purchased

      Instarem Money Transfer

      'I've been an Instarem user for quite long and I must say they have the best rate and hassle free among other remittance services app.πŸ‘ŒπŸ‘

      0

      What are your thoughts?

      Posted 3d ago

      Purchased

      Instarem Money Transfer

      [Ease of Transfer] very fasy too. Just a few clicks and use paynow for instant transfer. The interface is easy to use.

      0

      What are your thoughts?

      Posted 3d ago

      Purchased

      Instarem Money Transfer

      [Exchange Rates] Very competitive exchange rates. [Ease of Transfer] Transaction processed in just 5 mins. [User Interface] Very easy to navigate and use the app.

      0

      What are your thoughts?

      Posted 4d ago

      Purchased

      Instarem Money Transfer

      The exchange rates are reasonable, no hidden charges at all! The transfer is very easy and most importantly the process is very fast which is why I am continuing using the application.

      0

      What are your thoughts?

      Posted 4d ago

      Purchased

      Instarem Money Transfer

      Amazing app for international money transfer to different currency account Best feature you get the fax rates notification for you desired conversion rates

      1

      What are your thoughts?

      Hi Saurabh ,Thank you for taking the time to share your positive feedback! We are sincerely pleased to hear that your experience with Instarem has been pleasurable so fa

      Posted 4d ago

      Purchased

      Instarem Money Transfer

      I have been using Instarem for some time now. The rates are good, much better than banks. sometimes there are hiccups but the customer service is quite responsive. Good job !

      0

      What are your thoughts?

    Discussions (0)

      No Posts Found.

      Popular Products

      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.

      Advertisement