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Fee
 
Conversion Amount
You Send
Transaction Fee
Conversion Amount
Conversion Rate  
Recipient Receives
Conversion Amount
Conversion Rate
Recipient Receives

Banks and other providers add a markup and other hidden charges to their exchange rate for sending money abroad. At InstaReM, we make it cost-effective through our Zero-Margin FX rates, low remittance fee, and no hidden charges.

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InstaReM Advantage
Zero-Margin FX Rates
We get you mid-market rates sourced directly from Reuters and add absolutely no margins! We charge a nominal fee.
Easy Transfers
Sign up, verify your account and get transacting. Know the exact amount your recipient will get as you set up your transfer.
Loyalty Points
Earn bonus InstaPoints upon joining and each time you transfer. Redeem them against your transactions.
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A Happy You! Is Why We Do What We Do.

Transfer Money To Austria At Zero-Margin Rates

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Send Money To Austria

Money transfers to Austria have been riddled with high transaction fees, FX spreads and hidden charges. InstaReM, a digital cross-border payments platform, is changing the face of money transfers to Austria by bringing in transparency and cost-efficiency to the process.

Unlike banks and other money transfer service providers, InstaReM does not add any margins to foreign exchange rates. We convert your currency at mid-market FX rates which we source directly from Reuters. You can also compare our rates with independent sources like Google and XE.

While most money transfer services deduct a huge fee on your transactions, InstaReM charges only a small percentage of the transfer amount as fees. We believe in complete transparency. All the charges associated with your transaction can be seen on the receipt, and you get to know beforehand how much your recipient will receive. No nasty surprises when transacting with us.

InstaReM caters to individuals, expats, and businesses in Austria and many other countries across the globe.

Our easy flow and user-friendly onboarding process ensure that you enjoy fast, cost-efficient and hassle-free transfers to Austria.

Sign Up to enjoy Zero-Margin FX Transfers!

Frequently Asked Questions
  • Is it safe to send money to Austria through InstaReM? As a FinTech company, InstaReM reports to a number of regulatory bodies globally. Just like banks and other financial institutions, we have preventive measures designed to safeguard your profile against unauthorised access, fraud, and money laundering.
  • How much does it cost to send money to Austria through InstaReM? InstaReM uses Zero-Margin FX Rates to transfer your money. With us, you always get the exchange rate you see on Reuters or Google. For payments from AUD or HKD to EUR, the fee is 0.5%. For payments from SGD to EUR, the fee is 0.25%. For transfers from MYR to EUR, the fee is 0.6%. Please note that the fees are subject to change.
  • How much time does it take to send money to Austria through InstaReM? Typically, InstaReM makes same or next-business-day transfers, 7 days a week. However, some factors that can slow down payment processing are:
    1. Additional information required by InstaReM or recipient bank or financial institution for your security
    2. Payment processing / verifying your bank account
    3. Branch location hours / delivery hours / holidays
    4. Erroneous recipient details
    *Please note that the transfer time may be affected by banking systems and holidays in both the sending and receiving countries. You will receive email notifications as your money transfer progresses through our system. You can track your transfer on the InstaReM website as well as on the app.
  • Which banks in Austria are covered by InstaReM? InstaReM covers all banks in Austria, including Erste Group Bank, RZB Group, UniCredit Bank Austria AG, BAWAG P.S.K, Raiffeisen Bank International AG and Oesterreichische Kontrollbank AG, among many others.
  • What details are required to send money to Austria?
    1. Name: When sending to individuals in Austria, you need to fill in the beneficiary’s first name and last name.
    2. Address: Beneficiary’s full residential address in Austria.
    3. Account no: Beneficiary’s local account number in Austria.
    4. Beneficiary's Bank Code: You need your beneficiary’s SWIFT-BIC code to make a transfer to Austria.
  • What is a SWIFT-BIC Code?

    Swift Code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. Banks also use the codes for exchanging other messages between them. You can find SWIFT codes for Austria here.

  • Can I send money to the bank account of a business based in Austria through InstaReM? Yes. You can use InstaReM for business transfers to Austria.
  • What are the minimum and maximum limits for sending money to Austria through InstaReM? Individuals: The first transaction limit from Australia is AUD 2500. The limit is removed next transaction onwards. From Malaysia, per day transaction limit is MYR 50,000. There is no limit for transactions from Singapore and Hong Kong. Corporates: From Malaysia, per day transaction limit for businesses is MYR 200, 000. There is no limit for transactions from Australia, Singapore, and Hong Kong. Please note that InstaReM accepts payments in whole amounts, not decimals. Transactions above USD 10, 000 must be declared to the authorities concerned.
  • Which currencies are available for payout in Austria? We make payouts in Austria in EUR and USD only.
  • For what purposes can I send money to Austria through InstaReM? InstaReM service can be availed by any individual (at least 18 years of age) for personal money transfer needs in Austria from four countries. The user will be required to specify the purpose of remittance from a specified list of purposes like:
    1. Family maintenance
    2. Gift to family or friends
    3. Credit into your non-resident deposit accounts in Austria
    4. Payments towards tuition/ hostel fees
    5. Travel services
    6. Home loan repayment (extended by banks)
    7. Insurance premium
    8. Purchase of permissible real estate
    * InstaReM does not support payments for FDI (Foreign Direct Investment) purposes.
  • Does InstaReM support transfers to an email address of a recipient based in Austria? No. InstaReM does not support transfers to an email address in Austria.

You can also transfer money to other countries in

  • Asia
  • Europe
  • Oceania
  • North America
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