USA IND

₹ 73.17

UK IND

₹ 94.60

USA PHL

₱ 48.03

UK PHL

₱ 62.28

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 )

Today's Rate
$ Amount
₹ Exchange Rate
$50 - $3000
₹73.17*
Exchange Rate Type
Indicative
Transfer Fee
Bank Account
$ Amount
Fee
Up to $3000
0.00
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

Pankit Shah
Posted on September 07, 2020, 11:04 am

 
porteraisf p
Posted on September 03, 2020, 04:14 am

My account and documents were verified and are in good standing. I booked ACH transaction and waiting for to be done seamlessly but to my surprise I found that transaction cancelled due to Instraem Internal Policy. I tired but not getting right answer for what that is. only thing I see is rate went down 10% day after Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ I book the transaction. not a good experience.

 
lengse l
Posted on September 03, 2020, 03:29 am

 
lengse l
Posted on September 03, 2020, 03:29 am

Very very bad experience with Instarem. Instarem is not a good option to transfer instantly. I have initiated the transaction on 03/08.The status shows waiting for Payment.I came to know that the transaction will be completed by 03/17.Please decide how much instant it is.The customer care people also not confident in such a way that it will be completed by atleast 03/17.They are trying to hold the money to make the more delays.i never go for this again. very very bad experience. Priority wise

 
Pravin Bankar
Posted on August 25, 2020, 02:44 pm

compare to other site rate is more and transferred amount on 3rd day very fast.Please use code DcXPoC new sign up & use code COMPAREREMIT12 for first transfer.

 
Jan waseem
Posted on April 27, 2020, 05:28 pm

Started using instarem few months back and this is so far one of the best digital money transfer services considering transfer time, mobile app and the currency rate.

 
InstaReM PTE Limited
Posted on April 27, 2020, 06:42 pm
Hi Jan, 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!
Pankit Shah
Posted on April 20, 2020, 09:36 pm

Great exchange rate but little fees! overall good choice as after paying fees to we get better rate. You can use code XZuZtl while signing up(https://www.instarem.com/invite/XZuZtl) and get 400 points which worth $10.

 
InstaReM PTE Limited
Posted on April 21, 2020, 04:03 am
Hi Pankit, 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!
Aditya Bhujle
Posted on March 30, 2020, 11:46 am

The worst experience I have ever had. These guys intentionally cheat the customers. First, they won't complete the transaction in their advertised times. Then they will promise a full refund. Then delay the refund endlessly. And out of nowhere, arbitrarily deduct a random amount as their "refund charges" so that they can profit at your expense. Avoid dealing with them. Their advertised rates and marketing materials are simply the bait to hook you in and then take you for a ride. I would give negative stars, if it was possible. I am certainly escalating this matter with the concerned officials.

 
InstaReM PTE Limited
Posted on March 31, 2020, 05:25 pm
Hi Aditya, Thank you for taking the time to share your positive feedback! We are sincerely pleased to hear that your experience with InstaReM has been pleasurable thus far. We hope that your future transactions with InstaReM are as smooth and swift as possible. Please be informed that we constantly work on improving our procedures in order to make your transactions as convenient and as swift as possible. We hope that in the near future we will be able to complete almost every transaction instantly.
P. Patel
Posted on March 30, 2020, 08:11 am

booked transaction at for 1$= 76+ and rates get lower later. My account and documents are verified already and it's ACH bank transfer. Insata Rem cancelled my transaction later stating internal review and not giving any reason in name for internal review. now rates are lower so I loose good rates without explanation. This is my first time using it and got disappointed.

 
InstaReM PTE Limited
Posted on March 31, 2020, 05:26 pm
Hi, Thank you for taking the time to share your feedback. All transactions that come through InstaReM are subject to internal review and sometimes we are unable to process certain transactions due to internal policies.
PPatel
Posted on March 27, 2020, 02:11 pm

Not good experience. My account and documents were verified and are in good standing. I booked ACH transaction and waiting for to be done seamlessly but to my surprise I found that transaction cancelled due to Instraem Internal Policy. I tired but not getting right answer for what that is. only thing I see is rate went down 10% day after I book the transaction. not a good experience.

 

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