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Frequently Asked Questions

How can we help you?
Is InstaReM a licensed service provider?

InstaReM PTE Limited is the holding company of InstaReM subsidiaries globally:

Australia: InstaReM PTY Ltd is regulated by ASIC

Singapore: InstaReM Pte Ltd is regulated by MAS

Hong Kong: InstaReM Ltd is regulated by Hong Kong Customs and Excise Department

Canada: InstaReM Canada Corp. is regulated by FINTRAC

Malaysia: InstaReM Malaysia Sdn Bhd. is regulated by Central Bank

Lithuania: UAB InstaReM EU is regulated by Bank of Lithuania

India: InstaReM India Pvt. Ltd. is regulated by RBI

United States of America: InstaReM USA Corporation's program in the United States is sponsored by Community Federal Savings Bank

Does InstaReM offer financial consultation?

No, we don't specialise in personal advisory services. But to get insightful information about the world of remittance, you can visit our blog, InstaReM Insights, or subscribe to our daily FX alerts or fortnightly newsletters.

Is it safe to send money through InstaReM?

Your safety is our priority. We maintain complete transparency to give you better control over your transaction and our thorough verification processes ensure that your money reaches the right person.

Is my personal information safe with InstaReM?

Protecting your data and financial details is very important to us. You can find our Terms & Conditions, and other policies here

If you have specific questions, feel free to let us know by sending an e-mail to:

How do I create an account with InstaReM?

Account creation is easy. You just need to signup with your email ID or Google / Facebook ID. Click here to create an account.

Why is it important to complete my KYC process?

As a financial institution, we need to verify the identity of all our clients according to local regulations of the countries where we operate.

How important is the accuracy of details I provide to InstaReM?

As a financial institution, we need to know who is transferring money with us and verify their identity.

For this reason, when you create your profile, please use your real, full name (no nicknames or initials), accurate address, phone number and an email where you can be reached.

What information do I need to share to create an account with InstaReM?

To create an account with InstaReM, you need to share your email ID, mobile number and identity & address proof documents.

Can I change my email ID or mobile number?

Yes. Once you log in, please go to My Account - My Info to change your email ID and mobile number.

How do I add a recipient to my account?

If you are a verified user, you can log in and click on 'recipients' tab, or 'add a recipient' while setting up a transaction. If you are signing up, you can 'add a recipient' while setting up your first transaction.

How do I delete a recipient from my account?

Recipient once added cannot be deleted. However, you may choose to not transfer money to that recipient anymore.

Can I create a multi-user account with InstaReM?

Yes, we support multi-user account in case of multiple entities.

Why do I need to reshare my documents?

As a regulation, we need to maintain on file the most recent copies of documents shared by you. In case your documents have expired or are nearing expiry date, we ask you to share the most recent copy of your document(s).

How do I unsubscribe or subscribe to emails?

Please visit our subscription page for subscribing to Rate Watch, Daily FX Alerts, and News and Deals.

What is Rate Watch subscription?

Rate Watch allows you to receive a mail each time your currency pair hits a desired high or low value. Once the trigger value is hit, your Rate Watch for the specific currency pair is removed.

What is Daily FX Alert subscription?

You can select a currency pair and we will email you daily alerts for the same at a specific time in the day.

How many beneficiaries can I add in my InstaReM account?

There is no limit on the number of beneficiaries in any country except Malaysia.

In Malaysia, InstaReM allows individual clients to add a maximum of six beneficiaries to their account. Also, out of the six beneficiaries, you can have a maximum of 4 active beneficiaries at a time. You can activate another beneficiary only after deactivating an active beneficiary.

No such limit for corporate clients in Malaysia.

How much fees does InstaReM charge?

Our fees differ from countries and corridors of transfers with typical fees varying from 0.25% to 1%. The fees are subject to change and can be reviewed at any given time on the InstaReM currency converter.

At what rate will InstaReM transfer my money?

InstaReM transfers money at Zero-Margin FX rates, mid-market rates sourced directly from Reuters and adds no margins to it. A nominal fee is added to cover the cost of the transaction according to the payment corridor.

Why are the rates at InstaReM so different than banks and other operators?

At InstaReM, we transfer money at Zero-Margin FX rates, mid-market rates sourced from Reuters. Unlike banks and other operators, we do not add any margin to the rates or any hidden charges.

Why do the rates not change on weekends or at certain other times?

The Forex market is operational during market hours on business days in the particular country. Therefore, the rates may not update when the forex markets are closed on weekends and holidays.

Can I lock in an exchange rate with InstaReM?

The exchange rate is provided when you set up a transfer. Currently we do not provide a facility to lock in exchange rates in advance. InstaReM reserves the right to cancel any transaction if the money is not credited to InstaReM account within 72 working hours.

Does InstaReM offer forward contracts?

No, we currently do not offer forward contracts.

For how long are the rates locked once I set up a transaction?

You are advised to transfer funds to us within 24 hours. Your transfer will be auto-cancelled if we do not receive funds for the same within 72 working hours of initiating the transaction.

I want to fund my transaction through a credit card. Is this possible?

Sorry. Currently we do not accept credit cards.

How do I transfer money to InstaReM?

You can transfer money to InstaReM through Electronic Funds Transfer (EFT) / Bank Transfers / Wire Transfers in all countries. You can also send money through POLi (in Australia), Debit Card (in EU), FPX (in Malaysia) and ACH Pull or Bank Transfer method (in USA).

Is my money held in a segregated account with InstaReM?

Yes, the money in your account with InstaReM is held in a segregated account with an Authorised Deposit-Taking Institution (ADI) / Authorised Institution / Originating Depository Financial Institution / Credit Institution.

Can I deposit cash into InstaReM's bank account?

No, we do not accept cash deposits.

Can I send money through somebody else's bank account?

Sorry. Third party payments are not accepted.

Can a third party deposit the transfer money into my account?

We do not accept third-party payments. However, if you have already made a payment where the source of funds comes from another person, the person who has deposited money in your account can do a transaction with us by signing up and uploading the relevant documents and we can hold your funds at the same rate you deposited the funds.

Can I send money through somebody I have a joint bank account with?

Yes. As long as your name reflects as one of the account holders, you can send money through a joint account.

I have entered wrong deposit details. Can I change it?

You can contact our Client Services Team via email, chat or call for any issues you face before we begin to process your transaction.

I have entered wrong recipient details. Can I change it?

You can contact our Client Services Team via email, chat or call for any issues you face before we begin to process your transaction.

I have been asked for additional documents even after my KYC, why?

As a policy, we require you to share your latest copies of your documents. In case, the documents you have shared are outdated and have expired, we will need you to share them again before we can process a transaction for you.

How do I set up a transfer with InstaReM?

Login to your InstaReM account and submit a transfer. The platform will walk you through the process. If you have any queries, please contact our Client Services Team.

What happens if my payment to recipient is rejected?

We will notify you via an email about your rejected transfer.

I have sent incorrect amount. Can I change it?

You can contact our Client Services Team via email, chat or call for any issues you face.

When will my recipient receive the payment?

Once the money is sent out by InstaReM, it depends on the processing time of the receiving bank.

How long will it take to transfer my money through InstaReM?

Typically, transfers via InstaReM are instant. However, for certain countries, corridors, and payment methods it could be more than 2 business days to process a transaction.

Do I need to contact InstaReM when I make a payment?

No. All you need to do is set up a transfer on our online portal and we will take care of things for you. However, in case of any queries or problems, you can contact our client services team via email, chat, or phone.

How do I cancel my transfer with InstaReM?

You can contact our Client Services Team via email, chat or call. Please note, once the funds have been transferred to the recipient, the transaction cannot be cancelled.

What is the minimum I can transfer with InstaReM?

Minimum sending amounts could differ based on certain currency pairs which would be highlighted when you set up your transaction. Please refer to our page on international money transfer limits for more information.

What is the maximum I can transfer with InstaReM?

Different countries have regulatory limits on outward and inward flow of remittances originating from or to the country. You can refer to our page on international money transfers limits in various countries for information pertaining to inward and outward remittance limits on your country of interest.

Do I need to deposit funds before I make a transfer with InstaReM?

In case of a Bank Transfer as your payment method, a manual bank deposit to InstaReM's account will be required within 24 hours after submitting the transaction. Our bank details will be sent to your registered email address. When you make the deposit through your online banking, the status of your transaction may take up to 24-36 hours to update. Once we receive and acknowledge the payment, you will get an email confirming the receipt of funds.

When is the best time to set up a transfer with InstaReM?

At InstaReM, we transfer money at rates which are directly sourced from Reuters. To get a rate of your choice, we would advise you to subscribe to our Rate Watch feature which will alert you whenever the currency pair hits your desired rate.

Which sending currencies does InstaReM support?
Country Native currency (can be sent always) Can we send USD? Can we send EUR?
Australia AUD No No
Singapore SGD Yes No
Hong Kong HKD Yes No
India INR No No
Malaysia MYR No No
Europe EUR No Yes
Can I set up multiple transactions and chose to fund only one of them?

Individual : You should only set up a transaction if you intend to transfer funds towards it. If you have set up multiple transfers for the exact same amount and send only one deposit, the funds would be linked to the first transaction that you have submitted.

Corporate : A Corporate can add up to 20 beneficiaries in one batch and can set up a max of 20 transactions at one go. Collated funds can be sent matching the exact total amount of transactions set up.

What should I do if InstaReM website does not load?

As with any website, you may, at times, experience technical issues when using InstaReM. A basic problem you may encounter could be due to the browser you're using. We encourage you to use Google Chrome, Safari or Mozilla Firefox as InstaReM website works best with these browsers.
Other solutions for basic website issues are enabling cookies and clearing your browser's cache.
If you still want to use your preferred browser which is not among the above options, and face issues, kindly write to us at and we'll be pleased to help you.

Which browser should I use for browsing InstaReM?

We encourage you to use Google Chrome, Safari or Mozilla Firefox as InstaReM website works best with these browsers.

Can I open an InstaReM account for business?

Yes, you can. All you need to do is register as a business while signing up with us.

Can my company create an account with InstaReM?

Yes, a company can open an account with us. Just register as a corporate. If you are a business that requires bulk payments and other customized payment features, you can contact us to know more about our MassPay platform.

Can I use a personal account for business purposes?

No, personal accounts must be used only for individual or personal purposes.

Can I make a batch payment through InstaReM?

You can make a batch payment through our MassPay platform. Please contact us for details.

From which countries can you send money using InstaReM?

With InstaReM, you can send money from Australia, Singapore, Hong Kong, Malaysia, Euro Zone Countries, UK, India, Canada and the US.

To which countries can you send money using InstaReM?

You can send money to the following countries using InstaReM:

Asia: Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, Nepal, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Vietnam

Europe: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, United Kingdom

North America: USA, Canada, Mexico

South America: Argentina, Chile, Colombia, Peru

Oceania: Australia

Which countries levy taxes on outward flow of money?

While most countries do not levy taxes on outward flow of money, India imposes GST both on currency conversion and the service charge. Malaysia imposes GST on service changes for outward remittance transaction.

Which countries levy taxes on inward flow of money?

Few Latin American countries levy taxes on inward remittances. While InstaReM deposits the exact amount to the recipient that you see on the screen while setting up the transfer, the recipient's bank may deduct taxes from the receiving amount at their end.

What is IFSC Code? What if I do not have my recipient's IFSC Code?

An IFSC code is an alphanumeric code that identifies a particular bank-branch participating in the two main Electronic Funds Settlement Systems in India. You can contact the recipient and get the IFSC code of the bank where they have an account.

What are Swift Codes, ACH, IBAN numbers, BSB Codes and Sort Codes?

SWIFT Code is a unique identification code for financial and non-financial institutions.

ACH Code is a routing code used in the United States to identify the financial institution in which it is drawn.

IBAN Number is an international system of identifying bank accounts across national borders to facilitate the communication and processing of cross-border transactions.

Sort Codes are codes the British and Irish banking industry uses to identify banks when routing money transfers.

BSB Code is a Bank State Branch (BSB) code used in Australia to identify a bank's branch.

How do I transfer money to InstaReM from USA?

You can transfer money to InstaReM via ACH Pull or Bank Transfer method.

Maximum limits for transfers via ACH Pull –

1500 USD per transaction

3000 USD per 30-days

4500 USD in a 60-day period

For higher amounts, kindly use Bank Transfer Method.

  • Coupons
  • InstaPoints
  • Referral
How often does InstaReM offer bonus coupons?

We release bonus coupons very frequently. Sign up with us to get your joining InstaPoints bonus and never again miss a deal from InstaReM.

My coupon is not working. What is wrong?

Please check the validity date of your coupon. If the coupon has not expired, check if your transaction complies with the terms and conditions of the coupon code. In case that is not helpful, please contact our Client Services Team.

What are InstaPoints?

InstaPoints are loyalty points that you earn upon signup, and with every successful referral and transaction you make. For more details click here.

How many InstaPoints can I redeem at once?

The minimum and maximum number of InstaPoints that you can redeem against a transaction are subject to change. Please click here for more details.

For how long are my InstaPoints valid?

Your InstaPoints have a validity of 6 months.

Can I encash my InstaPoints?

No, you can only redeem your InstaPoints against transactions with us.

Can I transfer my InstaPoints to someone else?

No, the InstaPoints credited to your account can be used only by you.

How does InstaReM referral program work?

When you refer a friend to InstaReM, both you and your friend receive InstaPoints. For more details click here.

How many friends can I refer?

You can refer as many friends (aka referees) as you like!

Can I refer a friend more than once?

No, you can refer a friend only once.

How will my friends receive the referral bonus?

InstaPoints will be credited to your friends' accounts as soon as they set up an InstaReM account using the referrer code you have shared.

When will I receive my bonus InstaPoints for a referral?

Your bonus InstaPoints will be credited to your account once your friend (referee) successfully completes his or her first transaction.

When can I redeem my bonus InstaPoints for a referral?

InstaPoints earned from referral activity would add to your InstaPoints balance. As soon as you hit the minimum number of InstaPoints, you can redeem them in your next transaction. For more details, please click here.

We top up your account with 75 InstaPoints as soon as you Sign Up.

InstaPoints are loyalty points that you can redeem against your transactions to give you a discount.

More The InstaPoints, More The Discount.

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