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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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Transfer Money To Canada At Zero-Margin Rates

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Send Money To Canada

Looking for a simple and reliable way to send money to your loved ones in Canada? InstaReM helps you send money to your loved ones, friends and even businesses in Canada and many parts of the world. InstaReM offers its services 24x7 so that you can transfer money at any time of your convenience. These transfers are cost-efficient and fast. To set up a transfer, all you need to do is Sign Up, enter your recipient's details and transfer the money to InstaReM. We convert your money at mid-market FX rates sourced directly from Reuters, and add absolutely no margins, thereby saving you money on your transfers.

At InstaReM, we keep the transactions free from hidden charges and believe in maintaining complete transparency with our clients. Here’s how InstaReM stands apart from other remittance services:

Cost Effective: InstaReM quotes Zero-Margin FX rates and charges only a nominal fee. This helps to keep the cost down and enables the customer to get the best rates. Banks normally have their margins on top of mid-market FX rates and add SWIFT charges to the transaction, making the transaction more expensive for the customer.

If you are new to InstaReM, you get a first transaction bonus. The referral offer also rewards you with InstaPoints which can be redeemed on your subsequent transactions with us.

Safety:As a Fintech company, InstaReM is regulated by authorities in various countries and it takes all necessary measures to protect its clients data.

Fast: InstaReM is quick to process international money transfers - typically 1 to 2 business days - as compared to banks which could take 2 to 4 days to clear these transactions.

Frequently Asked Questions
    • Is it safe to send money to Canada 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 Canada 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 CAD, the fee is 0.5%. For payments from SGD to CAD, the fee is 0.25%. For transfers from MYR to CAD, the fee is 0.6%.  Please note that the fees are subject to change.
    • How much time does it take to send money to Canada 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 Canada are covered By InstaReM? InstaReM covers all banks in Canada, including Bank of Montreal (BMO), Bank of Nova Scotia (Scotiabank), Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and Toronto-Dominion Bank (TD), among many others.
    • What details are required to send money to Canada?
      1. Name: When sending to individuals in Canada, you need to fill in the beneficiary’s first name and last name.
      2. Address: Beneficiary’s full residential address in Canada.
      3. Account no: Beneficiary’s local account number in Canada.
      4. Beneficiary's Bank Code: You need your beneficiary’s SWIFT-BIC code to make a transfer to Canada.
    • 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 Canada here.
    • Can I send money to the bank account of a business based in Canada through InstaReM? Yes. You can use InstaReM for business transfers to Canada.
    • What are the minimum and maximum limits for sending money to Canada 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 Canada? We make payouts in CAD and USD only.
    • For what purposes can I send money to Canada through InstaReM? InstaReM service can be availed by any individual (at least 18 years of age) for personal money transfer needs in Canada 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 Canada
      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 Canada? No. InstaReM does not support transfers to an email address in Canada.

You can also transfer money to other countries in

  • Asia
  • Europe
  • Oceania
  • North America
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