USA IND

₹ 71.82

UK IND

₹ 92.82

USA PHL

₱ 50.99

UK PHL

₱ 65.90

HIGHLIGHTS

Founded in 2014, InstaReM (short for Instant Remittance) is a Singapore-headquartered Fintech company providing fast, secure and cost-efficient digital cross-border money transfer services for individuals and businesses.

The company is currently licensed in Singapore, Australia, Hong Kong, Canada, Malaysia, India, European Union/United Kingdom and the United States. With InstaReM, businesses and individuals in these markets are able to reach out to 3.21 billion people in over 55+ countries worldwide.

In January 2015, InstaReM raised an initial US$500,000 in seed capital from Rocket Internet. In March 2016, InstaReM successfully raised a US$5 million Series A round led by Vertex Ventures, with participation from Fullerton Financial Holdings and Global Founders Capital.

In July 2017, InstaReM received another US$13 million investment of Series B funding, led by GSR Ventures, with participation from SBI-FMO Emerging Asia Financial Sector Fund, Vertex Ventures, Fullerton Financial Holdings and Global Founders Capital.

WHY INSTAREM?

InstaReM is a disruptor to traditional remittance firms. Here’s why:

  • Transparency: InstaReM’s transaction charges are shown before you make the remittance, unlike banks or traditional remittance firms which charge an FX spread (the difference between the inter-bank currency conversion rate and the rate quoted by the bank or money transfer company) in addition to the transaction fee.
  • Comparative transaction charges: InstaReM offers transparent Zero-Margin FX rates. It offers mid-market rates sourced directly from Reuters and does not add any margins on FX at all, unlike most banks and money transfer services. The company just charges a nominal fee (between 0.25-1%) to cover the costs of processing the transactions. InstaReM ranks as the most cost-effective money transfer service in a number of corridors originating from Asia-Pacific in the World Bank’s Remittance Price Worldwide database.
  • Speed of transaction: InstaReM is able to transfer funds typically within 24 hours in Asia, compared to the average two to four days transfer by banks.
  • Wide reach: InstaReM can send funds to over 3.21 billion people in their local bank accounts across the globe. Businesses and individuals from Australia, Hong Kong, Singapore, Malaysia, India, EU and the US are able to remit money to 55+ countries worldwide.
  • Bulk payments: Corporations/SMEs use InstaReM's MassPay platform to manage and control their high-volume remittances to multiple beneficiaries in multiple currencies via a seamless process.

FAST FACTS

  • Reaching over 3.21 billion people across 55+ countries
  • Partner network of 8000+ banks globally
  • Growing team of 150 employees across eight global offices

FEATURES (Currently showing rates for USA to IND change )

Today's Rate
$ Amount
₹ Exchange Rate
$50 - $999999999
₹71.82*
Exchange Rate Type
Indicative
Transfer Fee
Bank Account
$ Amount
Fee
Up to $9999999999
$3.50
Transfer Time
Bank Deposit
2 Days
Transfer Type
  • Online Transfer
  • ACH Transfer
  • Wire Transfer
Daily Transfer Limit
NA
Customer Service Info
+1 888-409-3307
Company Headquarter
Singapore
Company Type
Remittance Providers
Mobile App
Company Established
2014
Text Update (SMS)
Yes
Email Updates
Yes
Provider's FAQs
Referral Program
Yes
Key Feature
---
Document Requirements
Either SSN or Following Docs- Passport, Utility Bill, Bank Statement, Driving License.

EDITORIAL REVIEW

No review available.

USER REVIEWS

Vaibhav Deshmukh
Posted on November 19, 2019, 10:36 am

Instarem Exchange rate is based on exact market rate. Even after 3.5$ fee for $1000 transfer, the overall remitted amount is highest in the market as compare to Remitly,Remit2India or any other exchange provider. Great promotions. To make most out of your transfer: 1) Use referral code PY1GCe while signing up to earn instapoints ($20 worth) 2) USE DIWALI30 on your first 3 transfers to get $30 off ( $1000 minimum transfer) 3)They allow you to opt for either one of coupon code or redeem instapoints. Not both. Overall great experience.

 
Navneet Kaur
Posted on November 18, 2019, 04:41 am

Good service and exchange rate as compared to others. Use my code 'VkvjPy' for extra $20

 
Sandhya
Posted on November 15, 2019, 10:18 am

Best remittance service in the market. The amount of INR we get for a $1000 transfer is high for InstaRem compared to other services due to best exchange rates in-spite of 0.35% fee. I have used Remitly, Ria, Remit2India,WorldRemit,Xoom and others in the past but I only use InstaREM these days since it is the best in terms of UI, Exchange Rate, Customer Service, Promotions etc., 1) Please Use referral code taWY2W while signing up to earn instapoints ($20 worth) 2) USE DIWALI30 on your first 3 transfers to get $30 off ( $1000 minimum transfer) Or COMPAREREMIT12 FOR $12 off Remember that maximum limit you could transfer in a month is 3000 and 4000 for 2 months using ACH service. You could use other options to transfer more though.

 
InstaReM PTE Limited
Posted on November 17, 2019, 06:10 pm
Hi Sandhya, 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!
Rahul
Posted on November 15, 2019, 06:14 am

Instarem Exchange rate is based on market rate. Fee is less compared to other services. Great promotions. To make most out of your transfer: 1) Use referral code s7DG5k while signing up to earn instapoints ($20 worth) 2) USE DIWALI30 on your first 3 transfers to get $30 off ( $1000 minimum transfer) 3)They allow you to opt for either one of coupon code or redeem instapoints. Not both. Overall great experience.

 
InstaReM PTE Limited
Posted on November 17, 2019, 06:09 pm
Hi Rahul, 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!
Madhu H C
Posted on November 14, 2019, 01:56 pm

Great experience! Get signup and referral bonus points on your first transfer! Referral code: onIoZK

 
InstaReM PTE Limited
Posted on November 14, 2019, 05:08 pm
Hi Madhu, 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!
Madhu H C
Posted on November 14, 2019, 01:54 pm

Great experience! Get signup and referral bonus points on your first transfer! https://instarem.com/invite/onIoZK

 
InstaReM PTE Limited
Posted on November 14, 2019, 05:07 pm
Hi Madhu, 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!
Harshal P
Posted on November 13, 2019, 12:45 pm

Likes: Best Money Transfer service compared to others. Mobile App is quite easy to navigate. Exchange rates are unbeatable and top in the market. 1) Please Use referral code wKlsN4 while signing up to earn instapoints ($20 worth) 2) USE DIWALI30 on your first transfer to get $30 off ( $1000 minimum transfer) 3) USE MYDIWALI on 2nd transfer with min USD 1k to get $5 OFF on subsequent transfers. Please remember that you could either use insta points or coupon code at once but not both.

 
InstaReM PTE Limited
Posted on November 13, 2019, 06:17 pm
Hi Harshal, 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!
Hiren Gada
Posted on November 13, 2019, 08:03 am

Best Money Exchange Rate. The amount of INR we get for a $1000 transfer is high for InstaRem compared to other services due to best exchange rates in-spite of 0.35% fee. 1) Please Use referral code xLFp1V while signing up to earn instapoints ($20 worth) 2) USE DIWALI30 on your first 3 transfers to get $30 off ( $1000 minimum transfer)

 
InstaReM PTE Limited
Posted on November 13, 2019, 06:17 pm
Hi Hiren, 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!
Sandhya
Posted on November 12, 2019, 01:08 pm

Best Money Exchange Rate since they offer Zero margin FX Rates. The amount of INR we get for a $1000 transfer is high for InstaRem compared to other services due to best exchange rates in-spite of 0.35% fee. 1) Please Use referral code taWY2W while signing up to earn instapoints ($20 worth) 2) USE DIWALI30 on your first 3 transfers to get $30 off ( $1000 minimum transfer) Or COMPAREREMIT12 FOR $12 off Remember that maximum limit you could transfer in a month is 3000 and 4000 for 2 months using ACH service. You could use other options to transfer more though.

 
InstaReM PTE Limited
Posted on November 12, 2019, 07:35 pm
Hi Sandhya, 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!
Ash
Posted on November 11, 2019, 05:39 pm

Best transfer rates now. Way to earn $50 1) Use code Kz64zr and earn 20$ on your first transfer 2) promo code DIWALI30 can be applied in your first 3 transfers to get total reward of $30.

 
InstaReM PTE Limited
Posted on November 11, 2019, 08:16 pm
Hi Ash, 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!

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