InstaReM wants to make global money transfers easy. Inspired by his own unnecessary complicated experience of trying to transfer money overseas, InstaReM’s CEO, Prajit Nanu was determined to develop an easier, straightforward way of international money transfers. This pushed him to work with Michael Bermingham, an expert in compliance in Asia, EU and Europe. Together they shared a vision of making international money transfers easy.
Features of InstaReM:
InstaReM lists the following features on its website:
- 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 and transparent fees.
- The InstaReM app also has 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 InstaReM Works
- Sign up on InstaReM
- Fill up personal details
- Upload supporting official documents to allow for verification
- Verify Mobile using the 6 digit code sent to your registered phone number
- Set Up your transfer - enter your desired currency and amount into InstaReM's calculator to check exactly how much your recipient will get
- Make the transfer - choose your transfer method, fill up recipient details and voila!
Countries available for transfer
InstaReM supports currencies from 5 continents:
- Asia: Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, Nepal, Philippines, Singapore, Sri Lanka, Thailand, Vietnam
- Europe: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom
- North America: USA, Canada, Mexico
- South America: Argentina, Chile, Colombia, Peru
- Oceania: Australia, New Zealand
Business accounts are available with InstaReM.
- Contact number: +65 6950 1132
- Address: NIUM, #20-05, Hong Leong Building, 16, Raffles Quay, Singapore 048581
- For more info, you can visit InstaReM's Website and Help Centre