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How does automatic currency conversion work for Instarem Business Card? 

Instarem business card Making card transactions

For transactions in currencies other than SGD,  Instarem converts the amount using the prevailing exchange rate and deducts the equivalent SGD from your balance. 

Example: 

  • Current rate: 1 USD = 1.28 SGD 
  • Transaction amount: 100 USD 
  • Amount deducted: 100 USD x 1.28 = 128 SGD 


Refunds: Refunds are processed using the FX rate at the time of the refund. 

  • Refund amount: 100 USD 
  • Current rate: 1 USD = 1.32 SGD 
  • Amount returned: 100 USD x 1.32 = 132 SGD 


Note: Exchange rates are for illustration purposes only; actual rates may vary based on market fluctuations.

Related FAQs

Where can I use my Instarem Business Card?  What currencies are supported by the Instarem Business Card?  Why did my payment with the Instarem Business Card fail? What do the transaction statuses on my Instarem Business Card mean?  Which wallet is used for Instarem Business Card transactions?  Can I upload or download receipts for my Instarem Business Card transactions? 

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