Unlike some competitor service providers, we adopt a low-cost money transfer service, keeping our exchange rates as low as possible. Our rates are always sourced directly from Reuters, with only minimal mark-up applied to cover our operating costs.

Other banks and service providers will apply hidden charges like higher forex margins, as well as bank and service charges that must be covered.

It is possible to lock-in an exchange rate for sending money into a recipient’s local currency.

How long we lock it in for depends on country to country. Failure to fund your Instarem account within the allotted time will result in your transfer being auto-cancelled.

You’ll often get longer to fund your account via bank transfer than debit card. Check out our auto-cancellation table for timescales on country-specific payment methods.

Although we don’t currently accept credit card deposits into your account, there are plenty of other ways to fund your overseas money transfers. You can deposit using Electronic Funds Transfer (EFT), bank transfer, or wire transfer.

It’s also possible to deposit in Australia via POLi. Our European customers can deposit using a debit card. Malaysia-based users can fund their accounts using FPX, while ACH Pull or bank transfers are available to users in the US.

Ultimately, it depends on which local currency you plan to convert. Each country has its own regulatory limits on how much currency can flow in and out in a single transaction.

We’ve got our own table of international money transfer limits that you can use as a guide, detailing the maximum and minimum you can send from your individual or business Instarem account.

If you have an individual Instarem account, we recommend that you should only create a transaction if you intend to deposit funds to cover it. If you create multiple transactions of the same value, but only deposit enough to cover one payment, the funds will be attributed to the first transaction you create, with the remainder auto-cancelled.

It’s a different ball game if you have a corporate Instarem account. That’s because you can add up to 20 beneficiaries and transactions to be sent in one batch. Business account holders must cover their transfers by depositing the exact total of all payments sent in the same batch.

Your money is always safe and secure with us. We house your money in a segregated account, away from our own operating funds. We do so by using one of the following:

• Authorized Deposit-Taking Institution (ADI)
• Authorized Institution
• Originating Depository
• Financial or Credit Institution

Ultimately, we recommend that you subscribe to our Rate Watch feature, which will alert you whenever your desired currency pair hits your desired exchange rate. Our exchange rates are always sourced directly from Reuters, so you can be sure of achieving the most competitive rates.

Our rates usually remain locked in over the weekends. That’s because most forex markets are closed over the weekends and bank holidays, with market hours reserved for business days e.g. Monday to Friday.