Low fees, fast transfers and reward points give Instarem an edge in the international money transfer market.
- 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.
Fastest Transfer Speed
Minimum Transfer Amount
Maximum Transfer Amount
|Available Currencies||AUD, CAD, EUR, GBP, HKD, INR, MYR, SGD, USD|
|Customer Service||Live chat, Email|
|Pay By||Credit card, Debit card, Bank transfer|
|Receiving Options||Cash pickup location, Bank account, Alipay (China only)|
Founded in 2014 in Singapore, Instarem operates international money transfer services in 11 countries. It offers money transfers to over 55 countries around the world and has a reward scheme for new registrations and referrals. Just keep in mind that there are low transfer limits for ACH transfers.
Why should I consider Instarem?
- Reward points. Earn InstaPoints when you signup, send money and refer friends. 100 InstaPoints can be redeemed for $2.50 off transfers of more than $500.
- Competitive exchange rates. Instarem’s exchange rate markup on many currencies is low compared to many other transfer services.
- Zero transfer fees on many transfers. When we checked, transfers to many popular destinations came with $0 transfer fees.
- Fast transfers. Most transfers arrive instantly or within the same day.
What to be aware of
- Low transfer limits. There are no bank transfer limits but you’ll have to look elsewhere if you need to send more than $1,500 per transaction using ACH.
- No cash options. There are no cash pickup options and you are unable to pay in cash for your transfer.
How much are Instarem’s transfer fees?
Instarem’s transfer fee is $0 for many types of transactions. What fee you will pay depends on the following factors:
- The country you are sending from
- Your transfer destination
- The transfer amount
- Your chosen payment method
Keep in mind that if you use a credit card to pay for your transfer, your card provider may charge a cash advance fee in addition to Instarem’s transfer fee. Instarem also charges a 2% fee for debit card transactions and a 3% fee if you use a credit card.
How are Instarem’s exchange rates?
While Instarem does offer the mid-market rate 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.
What are the ways I can send money abroad with Instarem?
Instarem supports both personal and business transfers. Transfers are all completed as a bank transfer, so there are no alternative delivery options. While Instarem doesn’t offer forex tools like forward contracts, it does offer specialised help for business transfers.
How to make an international money transfer with Instarem
To get started with Instarem, you will first need to register for an account.
What are Instarem’s payment options?
In the US, you can pay for your Instarem transfer by ACH transfer, debit or credit card or by a wire transfer. Payment methods vary on your country of residence, so if you live outside the US it is best to check before initiating a transfer.
How long does a transfer with Instarem take?
Most transfers with Instarem arrive instantly or within the same day. The exact time varies depending on the currencies involved, the network through which funds are routed and other factors. If you use your debit or credit card to pay, your funds will arrive almost instantaneously.
Transfers typically take
Minutes or same day
Is Instarem safe to use?
- Security and regulation: Government regulated
- Established: 2014
- Reviews: Rated 4.5* out of 5 stars on Trustpilot based on more than 7,200 reviews
- Investors: Vertex Ventures, SBI-FMO Fund, GSR Ventures
Instarem is licensed by financial regulators in the 9 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.
How does Instarem compare to other money transfer services?
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.