InstaRem Review

Founded in 2014, InstaReM allows you to easily send money abroad to more than 8,000 banks in more than 55 countries, including Singapore, Australia, Malaysia, Hong Kong, India, USA, Canada, and the EU.

InstaReM enables consumers, small-to-mid-sized enterprises, and financial institutions to make international money transfers. Rates are reliably sourced from Reuters, accurate fee breakdowns of your transfer are provided, and you’re only charged 0.5% to 1% of your sending amount to cover processing costs. InstaReM has also been rated by The World Bank remittance site as the #1 cost-effective money transfer provider from Australia and Singapore to multiple countries.

To learn more about InstaReM and the services it offers, continue reading below.

Pros and Cons of InstaReM



What Does InstaReM Offer?

If you’ve tried to send money to people abroad, you know how complicated things can get. It’s not as simple as sending an e-transfer to your friend or family down the street. Factors like currency exchange, cross-border limitations, additional fees, and specific banking conditions come into play. In the end, after all of the fees are considered, it can even become unclear how much exactly the recipient of your money transfer will end up with.

At its most basic level, it’s this complicated global money-sending process that InstaReM tries to remedy. With InstaReM, you can send money to people in over 55 countries without having to go through your bank. Instead, you simply open a free account with InstaReM and follow along with the prompts. Indicate to whom and where you’re sending your money, how much you’re sending, and how you’d like to pay for your transfer (you can pay via local bank transfer or debit/credit card).

InstaReM will take over at this point, automatically converting your money into your recipient’s local currency and sending it to their bank. Your recipient can then access their funds, usually within two days, by visiting their bank, using online banking, or using an ATM (cash pickup currently isn’t supported). For transparency, both the sender and receiver will receive a full breakdown of all processing and conversion fees.

Beyond offering a person-to-person transfer service, InstaReM also offers transfer options for businesses. These options are ideal for those looking to pay vendors, suppliers, service providers, associates, employees, and freelancers overseas. Their Multi-Currency Payments feature is particularly useful for businesses, as it allows you to pay multiple people in more than 55 different countries, all in their respective currencies, simultaneously at the click of a button.

InstaReM’s app is well designed and provides an intuitive user experience which makes transactions that much easier.

What to Expect on the Site

As mentioned above, InstaReM’s UI on both its website and mobile app is intuitive as any top app you’d find in the Apple or Play store. On their website, opening an account is as simple as hitting “Register” in the top right corner and providing the necessary information.

You’ll be asked to provide your name, address, contact details, date of birth, bank details, and proof of identification. Before you can start sending money, you’ll need to wait for your identification to be verified, after which your account will be opened within 24 hours.

For those worried about security, or how the service ensures that money reaches who its intended for, InstaReM holds all client money in accordance with industry rules and requirements. For one, you can easily track the status of your transfer by providing your unique Transaction and Registered Mobile codes. For a full breakdown of their security and verification measures, you can read their Terms and Conditions.


InstaReM lists its fees as ranging from 0.5% to 1% of what you’re sending, depending on country and corridor of transfer, although they say these percentages are subject to change. Fortunately, they make it easy to see exactly what you can expect to pay through the free InstaReM currency converter on their website, which gives you an easy-to-understand breakdown of all fees for any sending amount you provide.

What People Are Saying About InstaReM

As of March 2021, InstaReM has an “Excellent” rating on Trustpilot. They have an average rating of 4.4 out of 5 stars based on over 5.000 reviews.

The Bottom Line

As the need for global money transfers continues to rise, traditional banking continues to lag behind. Fortunately, companies like InstaReM are working hard to fill this gap. InstaReM does away with hidden fees, exorbitant rates, and clunky banking bureaucracy in favor of a much more modern, easy-to-use, and affordable way to send money to more than 55 countries abroad.

You can open up your account for free, get a transparent breakdown for all transfers detailing exactly how much your recipient will receive after conversion and fees, and benefit from some of the most competitive rates in the industry. Plus, InstaReM is just as useful for businesses as it is for individuals, offering one of the easiest ways to pay vendors, suppliers, service providers, associates, employees, and freelancers overseas. Plus, thanks to their Multi-Currency Payments feature, businesses can send currency-correct transfers to multiple recipients in multiple countries simultaneously with the click of a button.

The bottom line is that, if you’re looking for a superior solution to sending money abroad compared to what you’re used to at the bank, InstaReM might just be what you’re looking for.