Instarem’s Invite and Earn Referral Promotion – Terms and Conditions

Refer and get an Instarem bonus and save on your transfers!

Refer and get a 20 CAD Instarem bonus on each successful referral. As a welcome gift, referees also get an Instarem bonus of 20 CAD each on their first 2 transactions, for a total of 40 CAD.


That’s not all! Referrer and Referees will get 200 InstaPoints as per Instarem’s existing referral program:


Please refer to the T&Cs below.

Share your referral link from here

Terms and conditions

  • Invite and Earn Referral Promotion (“Promotion”) is brought to you by Nium Pte Ltd. and its related Group entities (formerly known as Instarem Pte. Limited – “Instarem”). For more information about the Nium Group entities, please click here. Please read these Terms and Conditions before participating in this Promotion. By participating in this Promotion, you, as a Participant, and all the Participant(s) agree to be bound by these Terms and Conditions, and you satisfy all eligibility requirements as provided below

Who can be a Participant in this Promotion?

  • To participate in this Promotion, you must be 18 years of age or older and have a registered Instarem Individual account.
  • This Promotion is applicable to ‘referrers’ who have an approved Instarem individual account in Canada, and ‘referees’ who are residents of countries where Instarem can enable overseas transfers from.

How to participate in the Promotion?

  • Referrer(s) must log into their Instarem account, share their referral link with their friends, and ask them to sign up using the link. For more information see Steps to Refer Your Friend below.
  • Eligible referee(s) must make a transaction through the website or mobile app using the code BUDDY during the promotion period.
  • Referees can make a transfer of a maximum amount as defined in their region by Instarem on

Promotion period

  • Refer to Earn Referral Promotion will run from Thursday, January 11, 2024; 00:00:00 PST until Monday, March 11, 2024; 23:59:59 PST.

Promotion gratification

For the Referrer:

  • The 20 CAD Instarem bonus will be valid for 6 months from the date of receipt.
  • The minimum transaction value for the referrer to avail the Instarem bonus would be 1000 CAD.
  • Get an Instarem bonus for every friend that you refer who makes a successful transaction with us. You will be eligible for one Instarem bonus per successful referral. For e.g.: If you refer 4 friends successfully, you will be eligible for 4 Instarem bonuses.
  • A “successful referral” is one whereby the referred client has completed his/her first transaction successfully, without any related cancellations, rejections or unpaid transactions within the campaign period.
  • During this contest, a referral get rewarded for a maximum of 10 successful referrals. For eg.- If a referrer refers 20 referees, and 15 turn out be successful referrals, the referrer is eligible to earn rewards for 10 successful referrals only.
  • The bonuses can’t be clubbed and have to be used separately by the referrer.
  • Referrers will receive their Instarem bonus between March 15 and 31, 2024.

For the Referee:

  1. Referee must use the Referrer’s referral code while signing up and may use only one referral code to sign up.
  2. Referee must sign up and complete their first transaction during the campaign period i.e., from Thursday, January 11, 2024; 00:00:00 PST until Monday, March 11, 2024; 23:59:59 PST.
  3. Only the Referee (the friend who is referred) can use the code BUDDY only on their first two transactions.
  4. Referee gets an Instarem bonus of 20 CAD each (total bonus of 40 CAD) by using the coupon code BUDDY on his/her first 2 transactions.
  5. Referee also gets 200 InstaPoints which they earn from Instarem’s existing referral programme:
  6. Referee will receive the Instarem bonus based on their country of residence. To know the country-wise value of the code BUDDY, refer to the table below.


Coupon Name Country Coupon Value Minimum Transfer Amount
BUDDY Australia Total 40 AUD bonus on first 2 transfers 250 AUD
BUDDY Singapore Total 40 SGD bonus on first 2 transfers 500 SGD
BUDDY Hong Kong Total 150 HKD bonus on first 2 transfers 1500 HKD
BUDDY Malaysia Total 75 MYR bonus on first 3 transfers 2500 MYR
BUDDY Canada Total 40 CAD bonus on first 2 transfers 250 CAD
BUDDY Europe Total 40 EUR bonus on first 2 transfers 200 EUR
BUDDY Great Britain Total 40 GBP bonus on first 2 transfers 200 GBP


Steps to Refer a friend

  1. Referrer has to log in and share his/her referral link with friends and family. On web – go to ‘Invite & Earn’ menu. On app – go to your profile/My Account. Or, the referrer can simply copy the referral link sent on his/her Instarem registered email ID and share it with friends and family.
  2. Referees sign up with the Referrers’ referral link.
  3. The Referrer can ask his/her friends to make their first transfer using promocode BUDDY with a minimum transfer value as per the above table. Once the referee makes a successful transfer, both the referrer and referee both get rewarded.

Instarem’s Invite and Earn rewards referral promotion mechanics

  • The terms of the Promotion will apply to all the eligible referrers and referees who are registered and approved customers of Instarem.
  • A “successful referral” is one whereby the referred client has completed his/her first transaction successfully, without any related cancellations, rejections or unpaid transactions within the campaign Period.
  • Only those transactions of referred customers(s) that are ‘Paid to Beneficiary’ (Transaction Status: Paid) as on end of Promotion date would be considered for the Promotion. There could be cases where last-minute transfers set up by referred customer(s) could face delays due to compliance or other regulatory reasons, or could be subject to delays in regular processing. Please note that such transactions will not be considered.
  • All transfers need to be within Instarem’s policies and regulatory requirements – Please refer to our FAQs for more information –

Promotion exclusions

  • In case a Referrer has referred himself (he has created a 2nd account with his own details), it will not be counted in the referral total and such entries will be considered ineligible for the Promotion.
  • Instarem employees are not eligible to participate in this offer.
  • This Promotion is not applicable for corporate clients.
  • Transfers by new referred customer(s) to their referrer’s account would be considered as a quid pro quo and would not be eligible.
  • Transfers by new referred customer(s) of a referrer to a common account(s) would be considered as a quid pro quo and would not be eligible.
  • Failure to comply with any of these terms and conditions may result in the disqualification of the entry in the Promotion.

Other terms

  • Instarem reserves the right to choose eligible entries of the Promotion and will not and does not have any obligations under any circumstances to explain the choice of eligible entries.
  • Instarem expressly reserves the right, at any time and without prior notice to add and/or alter, modify, change or vary all or in part, this Promotion or to cancel the Promotion altogether.
  • This Promotion is in no way sponsored, endorsed or administered by or associated with Facebook or any other social media platform.

Instarem is a brand operated by Nium Pte. Ltd. and its subsidiaries globally. In Canada, Nium Canada Corporation is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (Registration No. M15669293).