USA IND

₹ 69.37

UK IND

₹ 88.18

USA PHL

₱ 52.11

UK PHL

₱ 66.24

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
₹69.37*
Exchange Rate Type
Indicative
Transfer Fee
Bank Account
$ Amount
Fee
Up to $9999999999
0.50%
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

Raghavendra Chinchure
Posted on May 05, 2019, 09:05 am

It’s one of the worst service where they cancelled my transaction since I don’t have a mobile number with my name. Can’t imagine when they have information about my Social, DL, amount was debuted from my checking account. They still say I need to have mobile number with my name. When I questioned, what’s the purpose having mobile number, they don’t have any answer for it. Moreover for any question you ask, they say we will respond in 24 hours. This digital fast age who wanna wait for one day for answer for simple question.

 
Nita
Posted on May 03, 2019, 11:39 am

Registration was slow but Transfer was quick. Good service. Use Code aGnqXn for $25 worth instapoints

 
Suraj
Posted on April 19, 2019, 06:30 pm

Transfer was quick. Good service. Use Code DOMORE25 with below link for https://www.instarem.com/invite/UmDUg4 for $25 and 775 instapoints($20 worth).

 
VISWA
Posted on April 01, 2019, 04:42 pm

This is my first transfer. Its been 4 days, since status is awaiting payment. Though then taken money the first day.

 
Maruth
Posted on September 22, 2018, 12:13 am

Agree this is not easy and direct as other money transfers.But it still took me only 4 days to complete transfer. It could be 2 to 3 business days for subsequent transfers.You need not wire the funds. Use ACH transfer with Zelle here in USA.That is free.I have tried many transfer portals, but Instarem truly gives you great value for each dollar you transfer.Amazing rates. I will use it again.And their customer support was gr8 too.To Summarize, if you want fast transfers , go elsewhere. If thats not your concern , for best rates go with Instarem.

 
InstaReM PTE Limited
Posted on February 20, 2019, 05:24 pm
Thank you so much for your kind words, Maruth. We really appreciate you taking the time to share your positive experience with InstaReM. We work hard to meet expectations like yours, and we are happy to hear we hit the mark for you.
Varun
Posted on September 20, 2018, 09:51 pm

It is not an easy process. First you have to initiate the transfer in InstaRem, then you need to add the bank details of InstaRem in your remittance bank. The whole process is also taking more time to transfer the funds. In the mean time, if there is any delay in clearing the funds from your bank, you won't get the same exchange rate who were given at the time of initiating the transaction.

 
InstaReM PTE Limited
Posted on February 20, 2019, 03:01 pm
Hi, Varun, we appreciate you taking the time to send us the feedback. Please be advised that if the funds are transferred within 24 hours of the initiation, we are able to honor the same exchange rate, which gets locked for 72 hours from the time you initiate a transfer through us. Rest assured our team is constantly working to ensure that the remittance process is made as easy and time-efficient as possible.
Tushar Jain
Posted on September 16, 2018, 11:43 pm

Quick Service. Please use referral code: 6XyQWi to sign up and you will get extra discount along with COMPAREREMIT12.

 
InstaReM PTE Limited
Posted on February 20, 2019, 04:19 am
Hi, Tushar, thank you for your great feedback! We’re thrilled that we have made your money remittance process a happy experience. That’s our goal and it’s great to hear when we accomplish it!

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