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Fastest Transfer Speed
24 hours
Minimum Transfer Amount
Maximum Transfer Amount


Low fees, fast transfers and reward points give Instarem an edge in the international money transfer market.

  • Good for earning loyalty points, fast transfers and mobile app experience.
  • 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.


  • Low transfer fees
  • Same or next business day transfer
  • Earn loyalty points on sign up, referral and every transaction

In this guide

  • Review
  • Details
    • Features
  • Frequently asked questions
  • Your reviews
  • Ask a question



Available Currencies AUD, EUR, GBP, HKD, INR, MYR, SGD, USD
Customer Service Phone, Live chat, Email
Pay By Credit card, Debit card, Bank transfer, Wire transfer, ACH/Direct Debit
Receiving Options Cash pickup location, Bank account, Mobile wallet, Alipay (China only)

Our Verdict

Instarem has a lot going for it. Competitive exchange rates, zero transfer fees on certain currencies, loyalty points that convert to savings and fast delivery speeds explain why Instarem is a worthy contender for your next money transfer overseas. While it does add a markup to exchange rates, these often fare better than many other transfer providers.

You can direct send to e-wallets such as ShopeePay, G-Cash, Paymaya and 14 others which are used by Filipinos worldwide, or do cash pickups at over 20,000 locations including Cebuana. However, forget Instarem if your recipient doesn’t have a bank account or they aren’t in the Philippines, as you’ll have to send funds to a bank account. You’ll also want to check the transfer limits compared to what you plan to send as these limits vary depending on the receiving country.

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.
  • Mobile App. Instarem recently upgraded their mobile app for business and personal users. They offer comparatively better rates and an improved user experience via their app over the website.
  • 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.

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 expect in the Philippines. While Instarem doesn’t offer forex tools like forward contracts, it does offer specialized 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.

Go to site

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 takeClock icon for transfer speed

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
*According to Trustpilot on 30 June 2022

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?

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.
1 - 12 of 12
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Wise (TransferWise)
Within minutes
From 0.41%
Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
Cash App
Within minutes
From $0
With this peer-to-peer payment app make payments to your friends and family with no transfer fees within the US or from the US to the UK or EU.
24 hours
From 0%
New Instarem customers will get a special FX rate and zero-fees on their first transfer.
Instarem offers offers rewards on every transaction.
Within minutes
From $0
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
OFX International Money Transfers (Business)
24 hours
Business customers: Send safe, no-limit transfers with no fees and competitive exchange rates.
CurrencyTransfer for Business
24 hours
Increase business efficiency with zero transaction fees and same-day transfers.
24 hours
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Xe Money Transfer for Business
24 hours
Save your time and money with Xe Money Transfer for business.
Currencies Direct (business)
24 hours
Minimizes costs of international transactions and offers custom solutions for business clients. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.
Within minutes
Xe has fast transfers with low fees and a range of foreign currency tools.
24 hours
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Currencies Direct
24 hours
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates. Currencies Direct may call you to confirm your transfer, so be prepared for a phone call shortly after initiating a transfer.