USA IND

₹ 71.15

UK IND

₹ 92.63

USA PHL

₱ 50.76

UK PHL

₱ 66.07

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

FEATURES (Currently showing rates for USA to IND change )

Today's Rate
$ Amount
₹ Exchange Rate
$50 - $999999999
₹71.15*
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

Praveen Matsa
Posted on January 25, 2020, 08:20 am

By far this is the best service wrt speed and reliable.I hve accounts with all other services but this is the best on an average basis.You can use the below referral code to get points which you can redeem later. BE0ERG

 
InstaReM PTE Limited
Posted on January 26, 2020, 10:27 pm
Hi Praveen, We are incredibly grateful that you took the time out to leave us this note. Our company values put customer satisfaction as a top priority, and we are committed to our customers. Its customers like you that make our job wonderful. We look forward to serving you again.
Harshal
Posted on January 22, 2020, 11:09 am

Best thing about INSTAREM - Gives best rate as you send money at current forex rate with little fee (0.35%). It will save good amount of money in long period if you transfer money on regular basis. Promotional bonus worth $32 for new users. Use referral code wKlsN4 while registering for $20 worth INSTAPOINTS and while making your first transfer use the code NEWYEAR12 to get $12 reward on $1000 or above transfer. The only difficulty you may face is getting your account approved may take some time.

 
InstaReM PTE Limited
Posted on January 22, 2020, 10:16 pm
Hi Harshal, We are incredibly grateful that you took the time out to leave us this note. Our company values put customer satisfaction as a top priority, and we are committed to our customers. Its customers like you that make our job wonderful. We look forward to serving you again. Also,Please be advised that it usually takes up to 24 business hours for the account to be reviewed and activated.
Sandhya
Posted on January 18, 2020, 10:33 pm

Likes: Best remittance service in the market for USD to INR conversion. 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., 2) Please Use referral code taWY2W while signing up to earn instapoints ($20 worth) 2) Use the code NEWYEAR12 to get $12 reward on $1000 or above transfer Or COMPAREREMIT12 FOR $12 off . Other Observations: Remember that maximum limit you could transfer in a month is now increased to 5000 using ACH service. You could use other options to transfer more though. But I couldn't use Wire transfer option because of some issues with my bank & Instarem. Transfer generally takes 3 Business days. Cancellation of a transaction is little bit tricky compared to other services. Instarem limit the maximum number of pending transactions to 2 at a time. Promotional codes are time sensitive.

 
InstaReM PTE Limited
Posted on January 20, 2020, 09:39 pm
Hi Sandhya, We are incredibly grateful that you took the time out to leave us this note. Our company values put customer satisfaction as a top priority, and we are committed to our customers. Its customers like you that make our job wonderful. We look forward to serving you again.
Reshmi K
Posted on January 14, 2020, 08:24 pm

Best thing about INSTAREM - Gives best rate as you send money at current forex rate with little fee (0.35%). It will save good amount of money in long period if you transfer money on regular basis. Promotional bonus worth $32 for new users. Use referral code DEntEn while registering for $20 worth INSTAPOINTS and while making your first transfer use the code NEWYEAR12 to get $12 reward on $1000 or above transfer. The only difficulty you may face is getting your account approved may take some time.

 
InstaReM PTE Limited
Posted on January 15, 2020, 09:34 pm
Hi Reshmi, We are incredibly grateful that you took the time out to leave us this note. Our company values put customer satisfaction as a top priority, and we are committed to our customers. Its customers like you that make our job wonderful. We look forward to serving you again.
Vaibhav Deshmukh
Posted on January 13, 2020, 06:41 pm

Great service. transfer completes in 3-4 business day. Earn $40 by following these steps - in your first two transfers use the promo code XMAS10 to receive $10 each time and while registering use the referral code PY1GCe to receive $20 worth of instapoints. Account approval may take some time but its really worth since it gives best rate most of the time even after considering a fee of 0.35%

 
InstaReM PTE Limited
Posted on January 15, 2020, 09:34 pm
Hi Vaibhav, We are incredibly grateful that you took the time out to leave us this note. Our company values put customer satisfaction as a top priority, and we are committed to our customers. Its customers like you that make our job wonderful. We look forward to serving you again.
Sushil
Posted on January 04, 2020, 11:38 am

only 1 review: Service is toooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo slow... initiated transaction on 31st Dec, still waiting for it to be honored... Just got feedback from customer service, it would be done next week, so 1 week for a transfer, I just remembered the youtube ad by Xoom :)

 
vikas kumar
Posted on January 03, 2020, 11:15 pm

Things I liked - send money at zero margin ( rate updates every few minutes) Transfer fee is 0.35% which is low and rate comes better than any other money transfer company most of the time even after considering this fee. New users get $20 worth of INSTAPOINTS when use the referral code DEntEn while signup. Also, use the code COMPAREREMIT12 on your first transfer to receive $12 flat discount.( Other offers like XMAS10 code has expired ) on your first transfer. Transfer takes 3 business days usually and it is consistent. Things I didn't like - Account approval process may be frustrating. they may take 2-3 days in some cases. You may be asked to submit id proof. The transfer limit is only $3k per month which will however eventually increase to $5k per month once you have made few transfers. there is no means of express delivery and every order is processed normally which takes 3 business days. Bottom line - This is must have account if you look for good rates. account activation may require some patience but its worth :)

 
InstaReM PTE Limited
Posted on January 05, 2020, 04:40 pm
Hi Vikas, We are incredibly grateful that you took the time out to leave us this note. Our company values put customer satisfaction as a top priority, and we are committed to our customers. Its customers like you that make our job wonderful. We look forward to serving you again.
Patil
Posted on January 03, 2020, 09:18 pm

I never had any issues with InstaRem ever. Their customer service is prompt and respond to all queries. The rates are good almost in par with exchange. 0.35% transfer fee is cheap compared to any other service who operates similarly. And they update their rates regularly. Latest Code: Ways to get $40 1) Use referral code [ wKlsN4 ] while signing up to earn 775 instapoints ($20 worth) 2) Use [ XMAS10 ] on your first 2 transfers to get $20 3) complete your transaction.

 
InstaReM PTE Limited
Posted on January 05, 2020, 04:37 pm
Hi Patil, 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!
Harsh
Posted on December 30, 2019, 01:35 pm

The rates are good almost in par with exchange. 0.35% transfer fee is cheap compared to any other service who operates similarly. And they update their rates regularly. Latest Code: Ways to get $40 1) Use referral code [ wKlsN4 ]while signing up to earn 775 instapoints ($20 worth) 2) Use [ XMAS10 ] on your first 2 transfers to get $20 off 3) Complete your transaction and refer others to gain more :) Give it try.

 
InstaReM PTE Limited
Posted on December 31, 2019, 06:05 pm
Hi Harsh, 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!
Vaibhav Deshmukh
Posted on December 30, 2019, 01:04 pm

Great service. transfer completes in 3 business day. Earn $40 by following these steps - in your first two transfers use the promo code XMAS10 to receive $10 each time and while registering use the referral code PY1GCe to receive $20 worth of instapoints. Account approval may take some time but its really worth since it gives best rate most of the time even after considering a fee of 0.35%

 
InstaReM PTE Limited
Posted on December 31, 2019, 06:05 pm
Hi Vaibhav, 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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