InstaReM international money transfer

InstaReM is a simple, quick and cost-effective way to send money abroad with low transaction fees.

InstaReM is one of the latest international money transfer providers to enter the market. Since launching in 2015, the company now has a strong customer base of over 30,000 people and is licensed in India, Australia, Malaysia, Singapore and Hong Kong. InstaReM is solely focused on international money transfers, and customers are able to send money overseas from India.

INR 4,000

Min. Transfer Amount

INR 340

Max. Transfer Amount

2 days

Transfer Speed


Product NameInstaReM International Money Transfers
Min. Transfer AmountINR 4,000
Max. Transfer AmountINR 340
Transfer MethodsOnline, Phone
Transfer Speed
Minimum transfer time
2 days
Customer ServicePhone, Chat, Email
Available CurrenciesAUD, CAD, EUR, GBP, INR, MOP, SGD, USD
Online Transfer Fee1.00%
Branch Transfer Fee1.00%
Phone Transfer Fee1.00%
Exchange Rate UpdatesReal time

How much does it cost to transfer money with InstaReM?

InstaReM charges one transparent fee of 0.75% of the transaction value in INR. There are no other hidden fees. However, as per Indian laws, Goods and Services Tax (GST) is levied on the currency conversion and InstaReM’s service charges.

InstaReM exchange rates

Rates last updated October 16th, 2019
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
InstaReM International Money Transfers
INR 4,000
2 days
Online, Phone
InstaReM is a simple, quick and cost-effective way to send money abroad with zero transaction fees
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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InstaReM offers real-time interbank rates. This is the exchange rate that the banks use when buying and selling currency between each other, and is known as the real exchange rate. Unlike the banks and many other money transfer providers, InstaReM offers its clients the real exchange rate and does not charge any hidden commissions or margins on the exchange rate. Instead, there is one transparent fee of 0.75% of the transaction value charged in INR.

InstaReM always strives for its rates to be competitive and as close to the interbank rate as possible. You will clearly see InstaReM’s current rates displayed on its website and again when you make a transfer. It is important to be aware that outside of normal business hours, which are Monday to Friday 9:00am to 5:00pm IST, InstaReM’s rates will not be as close to the interbank rate. This also includes public holidays, so make sure any transfers you make are done during business hours.

InstaReM provides rates based on the live foreign exchange rate, meaning rates will move with the live market conditions. As exchange rates are updated constantly, you can not lock in an exchange rate for a future money transfer.

Minimum transfer amount and available countries

InstaReM currently allows you to transfer funds from India to most of the Eurozone countries, Canada, USA, UK, Singapore and Australia.

From India, the minimum amount you can transfer is INR500. InstaReM does not have a maximum limit (subject to Indian regulations on remitting money overseas).

There are a few limitations to InstaReM’s service; you can not transfer cash or deposit cash into their account, and they do not accept bank cheques. They also do not allow third party payments, meaning no one else can deposit money into your account to be transferred.

You can only send funds to the following countries:

  • Australia
  • Austria
  • Belgium
  • Canada
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Ireland
  • Italy
  • Luxembourg
  • Malta

What types of transfers can you carry out with InstaReM?

As InstaReM is a relatively new money transfer service, it only offers one-off transfers and does not offer forward contracts.

The registration and transfer process

Before you can transfer any money overseas you need to register for an account with InstaReM, which is completely free and only takes a few minutes online. Then you can login and submit a transfer request – don’t worry, the platform will walk you through the process.

InstaReM keeps your money in safe hands; your funds are held in accordance with Indian client money rules, meaning it is held in a segregated client account and not with InstaReM’s operating money.

  • Step 1. As part of the online registration process you will need to provide your personal details including contact information and residential address.
  • Step 2. Next step is to verify your identity, which can be done electronically if you have a valid Aadhaar Card and Permanent Account Number (PAN) card.
  • Step 3. Once the above details are submitted, your account should be activated within two hours. You will be notified by InstaReM when this is complete.
  • Step 4. When your account is approved, you can log in and make a payment by submitting your payee’s details and transfer amount.
  • Step 5. Payment done. You’ll be notified by InstaReM when your payment reaches the payee.

What are the pros and cons of using InstaReM?


  • Transparent fee structure.
  • Competitive exchange rates – InstaReM offers real interbank exchange rates.
  • 24-hour service 7 days a week.
  • Fast transfers – typically one business day.
  • Quick and simple registration process.
  • Small minimum transfer limit of INR500.


  • Does not accept any cash, cheques or third party payments.
  • Can only transfer to Canada, USA, Europe, UK, Singapore and Australia currently.
  • Transaction fee of 0.75% applies to all money transfer transactions from India.

What other products and services does InstaReM offer?

InstaReM specialises in international money transfers for both individuals as well as businesses. InstaReM is committed to facilitating money transfers to overseas contacts in a quick, cost-effective and simple manner. InstaReM offers SMEs and corporates a platform called MassPay. Using this platform, their business clients can carry out bulk payments in multiple currencies to multiple beneficiaries with the help of a global payments process that is completely seamless.

Frequently asked questions about InstaReM

A final word

InstaReM is an alternative option to the major banks for transferring money overseas from India. It could be a cost-effective option to make international remittances from India. However, you should check the current exchange rates they offer on their website before transferring money as these change frequently.

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