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Includes Fee

Banks and other providers add a markup and other hidden charges to their exchange rate for sending money abroad. At InstaReM, we make it cost-effective through our Zero-Margin FX rates, low remittance fee, and no hidden charges.

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InstaReM Advantage
Zero-Margin FX Rates
We get you mid-market FX rates sourced directly from Reuters and add absolutely no margins!
Fast & Easy Transfers
Sign up, verify your account and get transacting. The recipient typically gets the money in 1-2 business days.
Loyalty Points
Earn bonus InstaPoints upon joining and each time you transfer. Redeem them against your transactions.
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Transfer Money To Australia At Zero-Margin Rates

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Send Money To Australia

Be it tuition fee, tour remittance, emigration or visa fee, international money transfers can be a bit stressful, thanks to the insane costs one has to incur on international money transfers. InstaReM helps you make money transfers to Australia at great rates and at amazing speed.

Though banks have been and still are the most trusted institutions when it comes to international money transfers, little do you realise that you end up losing money to banks in the form of FX margins and hidden charges. Globally, sending remittances costs an average of 7.09 percent of the amount sent as per the January 2018 World Bank Report on Remittance Prices Worldwide, whereas InstaReM charges you only a fraction of the amount.

That’s right! How do we do it? We convert your money to AUD by using mid-market rates sourced directly from Reuters. We add absolutely no margins to FX Rates. And yes, there are no hidden costs. We just charge you a nominal transaction fee for the transfer. Try InstaReM and start saving on international money transfers to Australia.

Frequently Asked Questions
  • Is it safe to send money to Australia through InstaReM?As a FinTech company, InstaReM reports to a number of regulatory bodies globally. Just like banks and other financial institutions, we have preventive measures designed to safeguard your profile against unauthorised access, fraud, and money laundering.
  • How much does it cost to send money to Australia through InstaReM?InstaReM uses Zero-Margin FX Rates to transfer your money. With us, you always get the exchange rate you see on Reuters or Google. For payments from HKD to AUD, the fee is 0.5%. For payments from SGD to AUD, the fee is 0.25%. For transfers from MYR to AUD, the fee is 0.6%. Please note that the fees are subject to change.
  • How much time does it take to send money to Australia through InstaReM?InstaReM makes same or next-business-day transfers, 7 days a week. However, some factors that can slow down payment processing are:
    1. Additional information required by InstaReM or recipient bank or financial institution for your security
    2. Payment processing / verifying your bank account
    3. Branch location hours / delivery hours / holidays
    4. Erroneous recipient details
    * Please note that the transfer time may be affected by banking systems and holidays in both the sending and receiving countries. You will receive email notifications as your money transfer progresses through our system. You can track your transfer on the InstaReM website as well as on the app.
  • Which banks in Australia are covered by InstaReM?InstaReM covers all banks in Australia, including Commonwealth Bank, Australia and New Zealand Banking Group (ANZ), National Australia Bank (NAB), Westpac Bank, Bank of Queensland, Macquarie Bank and Bendigo Bank, among many others.
  • What details are required to send money to Australia?
    1. Name: When sending to individuals in Australia, you need to fill in the beneficiary’s first name and last name.
    2. Address: Beneficiary’s full residential address in Australia.
    3. Account no: Beneficiary’s local account number in Australia.
    4. Beneficiary's Bank Code: You need your beneficiary’s SWIFT-BIC code to make a transfer to Australia.
  • What is a SWIFT-BIC Code?Swift Code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. These codes are used when transferring money between banks, particularly for international wire transfers. Banks also use the codes for exchanging other messages between them. You can find SWIFT codes for Australia here.
  • Can I send money to the bank account of a business based in Australia through InstaReM? Yes. You can use InstaReM for business transfers to Australia.
  • What are the minimum and maximum limits for sending money to Australia through InstaReM? Individuals: The first transaction limit from Australia is AUD 2500. The limit is removed next transaction onwards. From Malaysia, per day transaction limit is MYR 50,000. There is no limit for transactions from Singapore and Hong Kong. Corporates: From Malaysia, per day transaction limit for businesses is MYR 200, 000. There is no limit for transactions from Australia, Singapore, and Hong Kong. Please note that InstaReM accepts payments in whole amounts, not decimals. Transactions above USD 10, 000 must be declared to the authorities concerned.
  • Which currencies are available for payout in Australia?We make payouts in AUD and USD only.
  • For what purposes can I send money to Australia through InstaReM? InstaReM service can be availed by any individual (at least 18 years of age) for personal money transfer needs in Australia from four countries. The user will be required to specify the purpose of remittance from a specified list of purposes like:
    1. Family maintenance
    2. Gift to family or friends
    3. Credit into your non-resident deposit accounts in Australia 
    4. Payments towards tuition/ hostel fees
    5. Travel services
    6. Home loan repayment (extended by banks)
    7. Insurance premium
    8. Purchase of permissible real estate
    *InstaReM does not support payments for FDI (Foreign Direct Investment) purposes.
  • Does InstaReM support transfers to an email address of a recipient based in Australia?No. InstaReM does not support transfers to an email address in Australia.

You can also transfer money to other countries in

  • Asia
  • Europe
  • Oceania
  • North America