USA IND

₹ 71.47

UK IND

₹ 89.29

USA PHL

₱ 52.15

UK PHL

₱ 65.11

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
₹71.47*
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

Patil
Posted on September 03, 2019, 09:51 am

You can use instarem coupon code: wKlsN4 during signup to get referral bonus (400 instapoints) along with 375 instapoints for signups. Also use COMPAREREMIT12 during first transfer to get additional $12 discount. After that Use WIN45 to get $45 discount on next three transfers.

 
InstaReM PTE Limited
Posted on September 05, 2019, 11:33 am
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!
Dharmendra Singh
Posted on September 01, 2019, 12:22 am

I transferred funds using Instarem at 11 AM, by 5 PM on the same day I got the email from my block Account service provider that my funds has received, Thanks to Instarem support specially Mr. Umesh Khajale, you guys super quick and doing wonderful job. Exchange rates are very low as compared to other service providers with minimal transaction fee. I am very very impressed and I would recommend Instarem to each and every one who wish to transfer funds overseas. Thanks for being in the Market. Special thanks to Mr. Umesh Khajale for being so nice and cooperative.

 
InstaReM PTE Limited
Posted on September 02, 2019, 08:13 am
Hi Dharmendra, 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!
Krish K
Posted on August 31, 2019, 05:08 am

Really good service, I am sure you will like this service and good exchange rate and you will get $40 sign up bonus. Might use this code PuJHVk when you sign up new account and first-time transfer Use this COMPAREREMIT12 or DOMORE25 code to get $12 or $25 free

 
InstaReM PTE Limited
Posted on September 01, 2019, 05:15 pm
Hi Krish, 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!
Praveen
Posted on August 28, 2019, 07:06 pm

Nice Experience. Got excellent exchange rate for first 3 transfers using promo code & InstaPoints. Amount got credited to my NRE account with in 3 business days. Sign Up Link with referral code: https://www.instarem.com/invite/bUBPsp (gets extra 400 InstaPoints) Use Referral Code bUBPsp and get extra 400 InstaPoints in addition to welcome join bonus. Use PROMO CODE COMPAREREMIT and get $12 OFF

 
InstaReM PTE Limited
Posted on August 29, 2019, 12:53 am
Hi Praveen, Thank you for your extensive and incredibly rave review! We are extremely pleased to hear that you find our services both efficient and gratifying. It is feedback such as this that keeps us going and encourages us to strive for improvement.
HarshalP
Posted on August 21, 2019, 02:25 pm

InstaRem has been reliable but little bit slow on transfer. It takes some time to transfer the money but it is reliable. You can use code: wKlsN4 while sign up to get 2% better conversion rate on first two $500 transfer. e.g. If InstaRem rate is $1 = INR 70 then you get INR 71.42 instead for first two transfer using InstaPoints

 
InstaReM PTE Limited
Posted on August 29, 2019, 12:53 am
Hi Harshal, Thank you for your extensive and incredibly rave review! We are extremely pleased to hear that you find our services both efficient and gratifying. It is feedback such as this that keeps us going and encourages us to strive for improvement.
Krishna
Posted on August 20, 2019, 07:35 pm

It's really good and you will get $40 sing up bonus . you can use this code PuJHVk when you sing up new account and use this first time transfer Use COMPAREREMIT12 code to get $12 free

 
InstaReM PTE Limited
Posted on August 29, 2019, 12:54 am
Hi Krishna, Thank you for your extensive and incredibly rave review! We are extremely pleased to hear that you find our services both efficient and gratifying. It is feedback such as this that keeps us going and encourages us to strive for improvement.
Rohan Shah
Posted on August 19, 2019, 10:07 pm

My referral code : aipHSB should fetch you about 475 insta points during signup. Enjoy !

 
InstaReM PTE Limited
Posted on August 29, 2019, 12:54 am
Hi Rohan, Thank you for your extensive and incredibly rave review! We are extremely pleased to hear that you find our services both efficient and gratifying. It is feedback such as this that keeps us going and encourages us to strive for improvement.
Praveen Matsa
Posted on August 13, 2019, 09:42 am

Good service.great rates.Extremely happy. use my referral if you want. https://www.instarem.com/invite/BE0ERG Use DOMORE 25 for your transactions for 25$ offer this is still valid.

 
InstaReM PTE Limited
Posted on August 29, 2019, 01:41 am
Hi Praveen, Thank you for your extensive and incredibly rave review! We are extremely pleased to hear that you find our services both efficient and gratifying. It is feedback such as this that keeps us going and encourages us to strive for improvement.
Venkata Sripada
Posted on August 12, 2019, 06:50 pm

I am a brand new customer with Instarem and so far I have received very good support from the customer care. They have been very responsive and tried their best to help me. My account has been created (I requested to make a name change and they took a day to complete this request - fair enough). Instarem website is pretty easy to use and the response time for each page (or activity) is blazingly fast! I have just initiated my first FUND transfer with Instarem. Hoping that this transfer process would complete on time. Crossing my fingers! I would drop another review based on the completion of the fund transfer and the time it takes for completion.

 
InstaReM PTE Limited
Posted on August 29, 2019, 01:42 am
Hi Venkata, Thank you for your extensive and incredibly rave review! We are extremely pleased to hear that you find our services both efficient and gratifying. It is feedback such as this that keeps us going and encourages us to strive for improvement.
Rajesh A
Posted on August 08, 2019, 08:29 pm

If you are ok to wait a couple of days then you will get a better rate compared to RIA or XOOM. Just a note, they will charge you $5 per $1000 transfer still, the rate is better than others. In addition to that, you can make use available could that will compensate your transfer fee. Use this referral code wcFmhw to get 75 + 400 points which are worthy of more than $10 which you can use it for your transfer. Also, use this coupon code RKTN to get $12 off on your first transaction

 
InstaReM PTE Limited
Posted on August 29, 2019, 01:42 am
Hi Rajesh, Thank you for your extensive and incredibly rave review! We are extremely pleased to hear that you find our services both efficient and gratifying. It is feedback such as this that keeps us going and encourages us to strive for improvement.

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