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Frequently asked questions

How can we help you?

Is Instarem a licensed service provider?

NIUM Pte. Ltd. (formerly known as Instarem Pte. Limited) is the holding company of NIUM and Instarem subsidiaries globally.​

It is regulated by the Monetary Authority of Singapore as a major payment institution in Singapore under License No. PS20200276​

Australia: NIUM PTY Limited (formerly known as Instarem PTY Ltd) is regulated in Australia by ASIC (AFS License No. 464627)

Canada: NIUM Canada Corporation (formerly known as Instarem Canada Corporation) (License No. M15669293) is regulated by the Financial Transactions and Reports Analysis Centre of Canada

Hong Kong: NIUM LIMITED (formerly known as Instarem LIMITED) (License No. 16/01/01797) is regulated by the Hong Kong Customs and Excise Department

India: NIUM India Pvt. Ltd. (formerly known as Instarem India Pvt. Ltd.) operates in association with SBM Bank and is regulated by the Reserve Bank of India, vide its approval letter Number. SBM/Mum/RP/009​

Indonesia: PT Instarem Mitra Indonesia (License No. 21/261/Jkt/1) is regulated by Bank Indonesia.​

Japan: Nium Japan Kabushiki Kaisha (formerly known as Instarem Japan Kabushiki Kaisha) (registration no: Kanto Local Finance Bureau no. 00073) is a Funds Transfer Services Provider registered with the Prime Minister under the Payment Services Act (Act No. 59 of June 24, 2009).

Lithuania: UAB NIUM EU (formerly known as UAB Instarem EU) (License No. 14) is regulated by Lietuvos Bankas (Bank of Lithuania)​

Malaysia: NIUM SDN. BHD. (formerly known as Instarem Malaysia Sdn. Bhd.) Registration No. 201701000367 (1214517-X) is regulated in Malaysia by Central Bank of Malaysia under MY License Serial Number 00222.​

Singapore: NIUM Pte. Ltd. (formerly known as Instarem Pte. Limited) is regulated by the Monetary Authority of Singapore as a major payment institution under License No. PS20200276. ​

United States of America: NIUM, Inc. (formerly known as Instarem USA Corporation), operates in the United States under a program sponsored by Community Federal Savings Bank, to which NIUM is a service provider (NMLS ID No. 1528562).​

UK: NIUM FINTECH LIMITED (formerly known as Instarem Limited), Reference number 901024, is regulated by the Financial Conduct Authority as an Authorised Electronic Money Institution (EMI) provider and is licensed to issue electronic money (e-money) and provide payment services.

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: [email protected]

Has Nium bought over Instarem

No. The name of the company has changed to Nium. Instarem will continue to provide seamless, secure and cost-efficient cross-border transactions. Our new name, Nium, captures the wider universe of businesses that will enable individuals and businesses to send, spend and receive their money worldwide.

How does the change in the company name affect me?

You can continue to use Instarem the way you have. The name change doesn't affect your transfers via Instarem.

Does this change Instarem's terms & conditions?

No. The terms and conditions of usage remain the same.

Will my personal information continue to be secure?

Yes, the name change has no security implications on your personal information.

Do I need to make any changes to my profile?

No. Your profile continues to remain active with Instarem.

Will my transfers be delayed?


Why has the company name changed?

Instarem’s mission is to improve the cross-border payments experience for consumers. With Nium, we want to welcome you to a world of ‘Open Money’. This will introduce you to an array of services, along with Instarem’s existing range of services. With Nium, we’re building a network for people and businesses to send, spend and receive their money globally.

How do I transfer money?

The transfer process remains the same.

Do I lose my InstaPoints?

Your InstaPoints are safe in your account. Continue to use and collect them on future transfers.

What about the first transfer bonus code?

All active coupons are eligible for the first transfer bonus.

Has Instarem contact details changed?

No. You can write to us at [email protected].

I have a refund pending to get from Instarem. Will I receive this?

Yes. All refunds will be processed and credited as per the existing terms and conditions.

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.

I am unsatisfied with the resolve to my enquiry by Instarem. What can I do?

As an organisation we strive to provide great service to meet and exceed your expectations. However, if you have any concerns or believe your expectations have not been met, or if you want to raise an issue regarding a particular transaction or encounter with Instarem, please feel free to reach out to us.

Send us an email on [email protected] and be sure to include the below information so we can assist you the best way possible:

  • Your Instarem Client ID,
  • The details pertaining your concern,
  • The Instarem Transaction ID (if any) related to your concern

Once we receive your email, our team will attend to the matter in line with our policies and practices and the local regulatory requirements.

We will:

  • Acknowledge the receipt of your email,
  • Assess the matter and concerns raised and ask for more information (if required),
  • Complete the investigation once we have all the information, and,
  • Email you with our response, explanation, and actions taken (if and where applicable).

We will look into your case as quickly as possible and will send you a response in line with the required timeframe as imposed by our policies and local requirements for more information. Please read the appropriate disclosure documents based on your country of residence. For more information, please check: Global Policies For International Money Transfers | Instarem.

Our customers’ happiness is our topmost priority. Rest assured that we will do our best to make things right.

If you are unhappy with our email response and resolution to the matter you have raised, depending on where you reside and the applicable regulatory requirements, you may forward your complaint to the respective dispute body in the country that you registered in with Instarem.

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 Low Cost and Our competitive rates are sourced from Reuters. 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 Low Cost - rates sourced from Reuters. Unlike banks and other operators, We add only minimal markup to the rates and do not have 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?

Typically, the exchange rate is locked in for a specific amount of time once you submit your transaction on Instarem portal. However, if the funds are not provided within the specified time, the transaction gets auto-cancelled. For more information on auto-cancellation timeframes, please click here.

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?

Our rate lock-in period depends on the payment method and varies from country to country. If the funds are not provided within the specified time, the transaction gets auto-cancelled. For more information on auto-cancellation timeframes, please click here.

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 Transfer/ Wire Transfer in all countries.

You can also send money through these payment methods:

Country Payment method
Australia PayID, POLi
Singapore PayNow, Credit/Debit card
United States ACH (direct debit), Set up Instarem as Payee
Hong Kong Debit card
Malaysia FPX
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 pay for my transfer?

We do not accept third party payments.

However, if a third party bank account was used to transfer the funds to Instarem on your behalf, the third party account holder may register with Instarem, set up a new transaction, generate a new reference number, and then use the paid amount to fund the new transaction.

We can hold the funds and use them towards the transfer made from this person’s Instarem account. In such a case, the latest prevailing FX rate will apply to the new transfer.

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 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 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 for any issues you face.

When will my recipient receive the payment?

Recipients In China

Once the transaction has been processed by Instarem, Money Express-enabled recipients will receive the payments in real-time.

Recipients whose cards are bank channel-enabled will have to register with Geoswift & accept the transaction in order to receive the payment. After we process the payment, recipients will receive an SMS from Geoswift with a registration link. Once the recipient registers using the registration link, they will receive a notification to accept the payment. Once the recipient accepts the payment, the money will be credited to his/her account within 2-3 minutes.

*Please Note: The recipient needs to register and accept the transaction within 48 hours of receiving the SMS, or else the transaction will get canceled.

For Recipients In Other Countries

Once the transaction has been processed 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 cancel your transfer depending on what step your transfer is at. If you have not funded the transaction, you can cancel your transaction by clicking on the ‘cancel’ button on the transaction history page. If you have sent funds against a transaction and then want to cancel it, please contact our Client Services Team via email, chat.
*Please note, once the funds have been transferred to the recipient, the transaction cannot be canceled.

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.

Does Instarem offer a cash pick-up facility?

Yes, We offer cash pick-up facility only for the Philippines. For More Details Click here

Does Instarem support Debit Card transfers/payments from Hong Kong?

Yes, Instarem supports debit card transfers/payments from Hong Kong to all destination countries supported by Instarem. The facility is available only for individual remitters. For more details, Click here

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 [email protected] 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:

To Africa: Ghana, Nigeria, Tanzania and Uganda* *Transfers to Africa not available from India

Asia: Bangladesh, China, Hong Kong, India, Indonesia, Malaysia, Nepal, Pakistan, 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

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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