USA 
IND 
UK 
PHL 
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*. The company 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. *Applicable only for certain currencies and certain trading hours.
- 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
*Daily limit for new users is $1,500.
FEATURES (Currently showing rates for USA to IND change )
- Online Transfer
- ACH Transfer
- Wire Transfer
USER REVIEWS
Worst service. Initiated a transfer. got a call asking for the phone number registered with my bank. also chatted with live agent and shared some details and said that verification is complete. then they again called me they want to know my email registered with my bank. Whole process looked suspicious to me and I cancelled my transaction.
16 Worst service. Initiated a transfer. got a call asking for the phone number registered with my bank. also chatted with live agent and shared some details and said that verification is complete. then they again called me they want to know my email registered with my bank. Whole process looked suspicious to me and I cancelled my transaction.
16 I loved how easy it was to sign up and send money with Instarem. I got a great rate and money reached without any hassle. I recommend this to others.
4 I loved how easy it was to sign up and send money with Instarem. I got a great rate and money reached without any hassle. I recommend this to others.
4 Pathetic and Slow. Transfer initiated 5 days back. Followed up with CSR and was promised delivery by 03/24, but the amount is yet to be credited to beneficiary. The amount got deducted from my account on time. Chatted with another CSR -03/25, and he ask me to send the proof of the amount being deducted. Sent proof ticket 487425.
18 Pathetic and Slow. Transfer initiated 5 days back. Followed up with CSR and was promised delivery by 03/24, but the amount is yet to be credited to beneficiary. The amount got deducted from my account on time. Chatted with another CSR -03/25, and he ask me to send the proof of the amount being deducted. Sent proof ticket 487425.
18 Worst money transfer website!!!!! Firstly from the beginning itself, this site gives you headache. They tell us to send the passport copies which are self attested with sign and date. And for them none of your copies would be "acceptable" for their company. Apart from that there is no reply from them. They say there is a "bot" named "Adam" in the site which would answer your queries. But that thing won't even open up to chat. If we send any mail, there is no personalised response at all, just an automated message sending every time with the same content irrespective of the question. These guys waste a lot of time and must be reported under pricvacy act as our personal information like passport details, pan card are with them and we are unsure what they are using it for. After sending all the documents, they still say it is not legible and all and waste our time. Other companies verify our Passport / Pancard details very quickly and offer easy transaction without any hastle.
10 Worst money transfer website!!!!! Firstly from the beginning itself, this site gives you headache. They tell us to send the passport copies which are self attested with sign and date. And for them none of your copies would be "acceptable" for their company. Apart from that there is no reply from them. They say there is a "bot" named "Adam" in the site which would answer your queries. But that thing won't even open up to chat. If we send any mail, there is no personalised response at all, just an automated message sending every time with the same content irrespective of the question. These guys waste a lot of time and must be reported under pricvacy act as our personal information like passport details, pan card are with them and we are unsure what they are using it for. After sending all the documents, they still say it is not legible and all and waste our time. Other companies verify our Passport / Pancard details very quickly and offer easy transaction without any hastle.
10 This service is not even eligible for rating. They keep on lagging to send the money even after money is debited from senders bank account. And worst verification process. Its been 5 business days still following up with customer care.
8 This service is not even eligible for rating. They keep on lagging to send the money even after money is debited from senders bank account. And worst verification process. Its been 5 business days still following up with customer care.
8 WORST CUSTOMER EXPERIENCE EVER!!!! I have the worst customer experience handled by Instarem. There are multiple reasons why I don’t want to use their platform anymore. They don’t have any phone support. When you use the chat support, you need to mention that you “need a live agent”, before you can speak to a live agent. To those who are not computer savvy, you’ll get lost. I contacted them asking for assistance, I was disconnected twice. And suddenly you are speaking to another agent, without knowing. They will disconnect most especially if you are upset. TRAIN YOUR AGENT!!! I was given the wrong information many times. There are limitations when adding a beneficiary. I contacted them how they can help me remove or update the beneficiary, then don’t have the capability. What if those beneficiaries are no longer available, so how can you use the platform. ISN’T THAT STUPIDITY RIGHT? So in short, stop using their platform. That’s what they are telling you. I contacted them, asking if we could update the beneficiary, they couldn’t help. I was advised to open a new Instarem account, so I created one. After creating a new account, I have waited for 3 weeks to a month to finish the verification. I am sending them multiple follow up emails, yet none respond. Then I need to contact them again, through the louzy chat. I was disconnected again. Then someone called me, ask if what account I would like to retain - and i have provided that information, I followed up with them again, then asked the same questions. I told them that I have provided those information already. Yet they don’t have the record. Then I informed them again. They closed my old account, yet the new account remains under review. Then I followed up again. Until I received information that I could not open a new account, and use the old account instead. Knowing that they have closed the old account already. I asked them if you are going to open my old account, how can I use it, since the beneficiaries could be of no use? They could not give a direct answer. It ended up that they closed the new account, and reopened the old one. The question is, WHAT IS THE USE OF REOPENING IF THE BENEFICIARIES ARE NO USE TO ME???? Even the manager has no answers to me. I was given different reasons and information. The survey link that they sent isn’t working, coz they know that I will give them ZERO (not one star!) BUT ZERO IN HANDLING AN ISSUE AND CUSTOMER EXPERIENCE. In the end, my issue is not resolved, no compensation for the damage they have done, and provided the worst customer service experience. I am thinking of looking for a LEGAL ACTION of what they have done, since I have all the emails as proof of their NEGLIGENCE AND IRRESPONSIBILITY.
20 WORST CUSTOMER EXPERIENCE EVER!!!! I have the worst customer experience handled by Instarem. There are multiple reasons why I don’t want to use their platform anymore. They don’t have any phone support. When you use the chat support, you need to mention that you “need a live agent”, before you can speak to a live agent. To those who are not computer savvy, you’ll get lost. I contacted them asking for assistance, I was disconnected twice. And suddenly you are speaking to another agent, without knowing. They will disconnect most especially if you are upset. TRAIN YOUR AGENT!!! I was given the wrong information many times. There are limitations when adding a beneficiary. I contacted them how they can help me remove or update the beneficiary, then don’t have the capability. What if those beneficiaries are no longer available, so how can you use the platform. ISN’T THAT STUPIDITY RIGHT? So in short, stop using their platform. That’s what they are telling you. I contacted them, asking if we could update the beneficiary, they couldn’t help. I was advised to open a new Instarem account, so I created one. After creating a new account, I have waited for 3 weeks to a month to finish the verification. I am sending them multiple follow up emails, yet none respond. Then I need to contact them again, through the louzy chat. I was disconnected again. Then someone called me, ask if what account I would like to retain - and i have provided that information, I followed up with them again, then asked the same questions. I told them that I have provided those information already. Yet they don’t have the record. Then I informed them again. They closed my old account, yet the new account remains under review. Then I followed up again. Until I received information that I could not open a new account, and use the old account instead. Knowing that they have closed the old account already. I asked them if you are going to open my old account, how can I use it, since the beneficiaries could be of no use? They could not give a direct answer. It ended up that they closed the new account, and reopened the old one. The question is, WHAT IS THE USE OF REOPENING IF THE BENEFICIARIES ARE NO USE TO ME???? Even the manager has no answers to me. I was given different reasons and information. The survey link that they sent isn’t working, coz they know that I will give them ZERO (not one star!) BUT ZERO IN HANDLING AN ISSUE AND CUSTOMER EXPERIENCE. In the end, my issue is not resolved, no compensation for the damage they have done, and provided the worst customer service experience. I am thinking of looking for a LEGAL ACTION of what they have done, since I have all the emails as proof of their NEGLIGENCE AND IRRESPONSIBILITY.
20 This is the worst ever remittance apps. Their customer service are not helpful at all. Do not hook with their higher rate. It took forever before they received your remittances. When you pay using your debit card, you are required to log in using your bank username and password. It’s not safe at all, they can track your personal bank account information. If I could only give zero star on INSTAREM but you have no choice. I’ve send money on January 6, after 4 days my checking account already deducted. I thought it was deposited already in recipients account but unfortunately nothing. I follow up online chat, I was told you have to wait 24-48 hours. After 48 hours of waiting I received an email confirming the funds already deposited. I ask my recipient to check her account but nothing was deposited. I follow up again on chat room but same answer, you have to wait 24-36 hours. Until now at the moment that I’m making a review, my recipient has not received the money yet. I don’t recommend this app, don’t be fooled with the higher Rate, the serviced was the worst ever I encountered in my LIFE!
7 This is the worst ever remittance apps. Their customer service are not helpful at all. Do not hook with their higher rate. It took forever before they received your remittances. When you pay using your debit card, you are required to log in using your bank username and password. It’s not safe at all, they can track your personal bank account information. If I could only give zero star on INSTAREM but you have no choice. I’ve send money on January 6, after 4 days my checking account already deducted. I thought it was deposited already in recipients account but unfortunately nothing. I follow up online chat, I was told you have to wait 24-48 hours. After 48 hours of waiting I received an email confirming the funds already deposited. I ask my recipient to check her account but nothing was deposited. I follow up again on chat room but same answer, you have to wait 24-36 hours. Until now at the moment that I’m making a review, my recipient has not received the money yet. I don’t recommend this app, don’t be fooled with the higher Rate, the serviced was the worst ever I encountered in my LIFE!
7 Rápido, eficaz y buen servicio. Nunca e tenido problemas con xoom el dinero llega rápido y si por alguna razón necesito cancelar lo hace rápido y me regresa mi dinero casi inmediatamente!!!!
0 Rápido, eficaz y buen servicio. Nunca e tenido problemas con xoom el dinero llega rápido y si por alguna razón necesito cancelar lo hace rápido y me regresa mi dinero casi inmediatamente!!!!
0 
