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Instarem review

Earn loyalty points each time you send with Instarem.

  • Good for earning loyalty points and fast transfers.
  • Not so great for larger transfers or for sending money to someone without a bank account. Be aware that the zero-margin exchange rate only applies to some currencies during certain hours.

Check out our full list of pros and cons below.

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Within minutes

Fastest Transfer Speed


Minimum Transfer Amount


Maximum Transfer Amount


Available CurrenciesAUD, CAD, EUR, GBP, HKD, INR, MYR, SGD, USD
Customer ServiceLive chat, Email
Pay ByDebit card, Bank transfer
Receiving OptionsCash pickup location, Bank account

What is Instarem?

Founded in 2014 in Singapore, Instarem operates money transfer services in eight countries, including the US. From these locations, Instarem offers money transfers to 54 countries across Asia, Europe, North America,South America, and Oceania. Currency support vary per location. In the case of the US, Instarem supports 19 currencies.

The Zero-Margin FX rates that you get when transacting with Instarem are based on mid-market rates from Reuters. However, this is only for some currencies at certain hours of the day and Instarem doesn’t make it clear which these are.

Customers earn loyalty points for transacting on the platform. They also earn referral fees when friends and acquaintances sign up for an Instarem account.

How are Instarem’s exchange rates?

While Instarem does offer the mid-market exchange rate, it doesn’t offer it for all currencies and at all times of the day. This means that for many of your transfers, there will be a margin on top of the quoted exchange rate. The company doesn’t make it clear what currencies or times this applies to.

How much will I pay to send money with Instarem?

Instarem offers no fees for US customers. With its Zero-Margin FX rates, your beneficiary may get more money when you use its services. Instarem offers complete transparency during the money transfer process, allowing you to check the total amount your recipient will get minus its minimal transaction fee.
Check if there are any Instarem promo codes available

Minimum transfer amounts and available countries. How much can I send with Instarem?

In the US, there is a $50 minimum transfer amount for Instarem transactions. Instarem allows you to send money to 54 countries worldwide. Instarem does not have a maximum transfer amount.

What types of transfers does Instarem support?

Instarem offers bank-to-bank money transfers to 54 countries worldwide. You cannot transfer funds using cash or a credit card. Unlike many of its competitors, Instarem does not offer any additional services, such as forward contracts, other than straight money transfer. Instarem offers email subscription services for its rate watch and FX alert services. It also offers a MassPay platform for business accounts.

How do I send money through Instarem?

To send money via Instarem, register for a free personal account online. You may be asked to submit additional documents during the account opening process. You can then login to your account and initiate a transfer. Instarem will walk you through the process so it shouldn’t be that difficult. To get started, click here.

Note that you should transfer your funds to Instarem within 24 hours, since the company will cancel your transaction if it does not receive your money within 72 hours.

How do I track my transfer?

You can check the status of the transfer from your Instarem online account. You will also get an email from Instarem once your recipient gets the money.

What to look out for?

Although you can send money to 54 countries worldwide, this is somewhat limited by the fact that Instarem only supports 19 currencies if you’re in the US. The 0.25% to 1% fee that Instarem charges based on total transaction amount is more than competitive, but it would be good practice to check with other providers to see if the total amount your recipient will get with them would be higher.

Instarem also isn’t transparent about which currencies it offers the zero-margin exchange rates for, so keep an eye out for that.

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Benefits and drawbacks


  • Competitive exchange rates when compared with local banks
  • No fees for US customers
  • Allows customers to see the exchange rate, transaction fee and total amount your recipient will get without logging in
  • Customers get loyalty points and/or bonus coupons when they use the service, and referral fees for friends who sign up for the service.


  • Limited coverage as there are only 19 currencies supported if you’re sending money from the US. Operations are currently limited to 8 countries, including the US
  • Zero-margin exchange rates only available for some currencies
  • No Android and iOS smartphone and tablet apps
  • Require supporting documents during account registration
  • Does not offer hedging mechanisms such as spot contracts, market orders, and forward contracts
  • Supports bank-to-bank transfers only
  • You cannot book a transfer using a bank account that is not under your name

Compare Instarem to other money transfer services

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
24 hours

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OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours

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Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
24 hours
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

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Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Within minutes

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XE has fast transfers with low fees and a range of foreign currency tools.
Within an hour
From $1.99

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New customers send USD 20 to Lebanon and use code ADD10 for a USD 10 discount. Valid till 7 November 2021. T&Cs apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within an hour
From $2.26

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Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Within an hour

View details
Exclusive: Use code GET60 to save 30 USD on each transaction over 200 USD. Valid for the first two transactions and till 30 November 2021. T&Cs apply.
Instarem offers zero transfer fees on all transfers.
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

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Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Western Union
Within an hour
From $0

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Western Union sends money online to friends and family in 200+ countries around the world.
Within an hour
From $0

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MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.

Compare up to 4 providers

Look for alternatives to Instarem

Want to compare Instarem to other services side-by-side?

    How safe is Instarem?

    Instarem is licensed by the financial regulators in the 8 countries where it maintains operations. It is also ISO/IEC 27001 certified, meaning that it has passed stringent and internationally-accepted information security management standards.

    Next Steps

    Send the money from your bank account to Instarem’s bank account so that they can start processing your money transfer transaction.

    Bottom line

    The 19 currencies Instarem supports if you’re sending money from the US seems limited, though you can send money to 54 countries worldwide. You also cannot avail of any other services such as spot contracts and forward contracts with Instarem, since it only supports traditional money transfer transactions.

    However, Instarem does offer the mid-market rate for some currencies and the percentage-based fee can make it reasonable for smaller transfers. If you want to know more about other money transfer options, you may want to check out our guide to international money transfer services.

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      Default Gravatar
      March 6, 2020

      Is this available in Nepal?

        Avatarfinder Customer Care
        March 7, 2020

        Hi SK,

        Thanks for reaching out to Finder.

        If you are referring to sending money from US to Nepal with InstaReM, then yes- their money transfer service is available to your recipient in Nepal.

        However, if you are referring to using InstaReM’s service for sending money from Nepal, then it is not available at this time. InstaReM, is only available to senders from Australia, Singapore, Hong Kong, Malaysia, Euro Zone Countries, UK, India, Canada and the US.

        I hope this helps.


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