Instarem - Scam Awareness
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What types of scams are there?

Impersonation scam

This scam involves a call or text where the scammer poses as a tech support officer, or claims to be from a trusted organisation such as a bank, the police, or a government agency. They ask you for your personal information, banking details and login credentials. Do not entertain such requests as none of the above organisations will ever ask you for your personal information over the phone, email, SMS or WhatsApp.

Loan scam

Scammers offer instant cash loan in exchange for an upfront fee but never actually give you the money. Never give out your personal information or banking details to anyone making such an offer.

Love scam

Scammers create fake online profiles on places such as dating sites to befriend unsuspecting people. At first, the scammer gains your trust with touching stories and then uses this trust to gain access to your financial information.

Online purchase scam

Scammers lure in unsuspecting customers with deals that are too good to be true. Once the payment is transferred to the “seller”, the seller disappears without any trace and the victims never receive the product or their money back.

Sending money to a stranger

Never send money to a stranger. Almost all scams start with a stranger contacting you. Any funds transferred to a stranger cannot be recovered.

Disaster relief scam

Scammers ask for donation in the name of a charity. If you wish to make a donation, do so to a known or trusted organisation only. Never use Instarem to send money to a charity you do not know.

Lottery/Sweepstakes scam

If you receive a letter, call, or email saying that you have won a prize or money, but you need to pay money to collect your prize, it’s a scam. Don't send money to anyone who reaches out to you saying that you have "won" something and need to send them funds in order to collect your winnings.

Relative-in-need scam

Did you receive a call from a “relative” who needs money for an emergency? Scammers, claiming to be your friend or relative, request that you send money to them. Do not send the money without verifying their story and identity.

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?

You can now get personalised help from our team via chat or Enquiries.

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 to my Instarem account?

There is no limit to the number of beneficiaries you can add to your account, with the exception of Malaysia, where you can add up to 10* active beneficiaries at a time. Adding an additional beneficiary will require you to first deactivate one of the 10. There is no beneficiary limit to corporate accounts in Malaysia.

*In compliance with regulatory requirements, this feature is only available to Malaysian citizens and expats.

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.

Click here on We hear you and be sure to include the information below so we can assist you the best way possible:

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

Once we receive your query, 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 query,
  • Assess the matter and concerns raised and ask for more information (if required),
  • Complete the investigation once we have all the information, and,
  • Respond to your query with our explanation and actions taken (if and where applicable).

We will look into your query 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 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 does it cost to send money with Instarem?

When setting up a transaction with Instarem, all fees applicable to you and as charged by Instarem are presented to you upfront. You get full transparency of the amount you will be paying and the amount your recipient will be receiving.

Our transaction fees vary depending on:

  • the country you’re sending from
  • the country you’re sending to
  • the amount you’re sending
  • the payment method

When using a credit card to pay for Instarem’s service, your card provider may also charge a cash advance fee in addition to Instarem’s  transaction fee.

In certain countries, our exchange rates may include a currency conversion margin. Exchange rates are subject to change. To view the current exchange rates and fees, go to the homepage calculator, select the country you’d like to send money to and select the payment method.

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?

Yes, we support credit card transfers, however, this is available for transfers made from Singapore, Australia and the US only.

What payment methods does Instarem support?

Our payment methods vary depending on the country you are registered in.

Following are the payment methods you can use based on your country of residence:

Country Payment method
Australia PayID, POLi and Debit/Credit card
Singapore PayNow and Debit/Credit card
United States ACH (direct debit), Debit/Credit card, Set up Instarem as Payee and Wire transfer
Hong Kong Bank transfer and Debit card
Malaysia FPX and Bank transfer
UK Bank transfer and Debit card
Europe Bank transfer and Debit card

For more details on payment methods from your country, please click here.

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 a third party pay for my transfer?

We do not accept third-party payments.

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 customer experience team via email or 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 customer experience team via email or 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 regulated financial service provider, we work to ensure that we are fully compliant with our regulatory requirements. This includes additional reviews of our customers’ details and transactional activity. Such reviews sometimes require us to request additional documents from you. Kindly be assured that any information you share with us is protected by our data privacy policy and is safe with us.

How do I set up a transfer with Instarem?

Log into your Instarem account and submit a transfer. The platform will walk you through the process. If you have any queries, please contact our customer experience 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 customer experience team via email or 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 does it take Instarem to process my transaction?

It usually takes us up to 2 business days to process a transaction from the time we receive the funds from you. However, it could take us more than 2 business days to process a transaction for certain countries and payment methods.

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 customer experience 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 customer experience team via email or 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, or face issues, please reach out to us via chat or submit an enquiry.

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 create a corporate account with us. To know more about our suite of services for businesses, visit the Business section on our website.

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 over 50 countries with Instarem. For a complete list of receiving countries, click here.

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

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 customer experience 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.

How do you protect yourself against scams?

Never share your personal information or your financial details with anyone. Banks, the police, or government agencies will never ask you for your personal information or banking details over the phone, email, SMS or WhatsApp.

Never save your banking information like credit card number, CVV, or PIN on your mobile phone.

Do not transfer funds or remit money to unknown parties. Scammers will always try to create a false sense of urgency. Do not be pressured into making transfers to unknown parties.

Always verify the source and legitimacy of such requests.

Do not download links or open attachments of unsolicited emails received from untrusted sources.

In your mobile phone settings, do not enable installation of apps from untrusted sources.

Avoid using unsecured/unknown Wi-Fi networks, as there are rogue Wi-Fi access points at public places used for malicious activities.

If you believe you have been scammed or that your financial/banking credentials have been compromised:

  • Contact your local police.
  • Report the incident to your respective bank.
  • Change the passwords of all the affected accounts immediately.

If you used Instarem to send money as a result of a scam, please report the fraud immediately to our customer experience team via chat or Enquiries.

We top up your account with 25 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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