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What services does Instarem offer?
Instarem lets you send money overseas quickly and with low fees. You can send more than 20 currencies around the world.
- One-off transfers. Instarem's main focus is on one-off transfers for personal use. You can't set up automated regulated payments just yet.
- Business transfers. You can pay staff, suppliers and freelancers that live overseas.
- Bank transfers. Instarem only lets you pay with a bank transfer, which means you can't use your credit or debit card.
What currencies does Instarem support?
Instarem lets you send money in more than 20 different currencies. Some of the more popular ones include:
- CAD Canadian dollar
- EUR Euro
- GBP British pound
- HKD Hong Kong dollar
- INR Indian rupee
- MYR Malaysian ringgit
- PHP Philippine peso
- THB Thai baht
- USD United States dollar
- VND Vietnamese dong
Pros and cons
- Fast transfers. Transfers typically take one business day.
- Loyalty points. You can earn InstaPoints on sign up and each time you transfer, which can be redeemed later.
- Doesn't use mid-market rate for all transfers. Instarem only offers zero-margin transfers for some currencies and during certain hours. The company doesn't make it clear which currencies and hours this applies to.
- Only supports bank transfers. You won't be able to use your card to pay for your transfer and you'll only be able to send money to a bank account, which means no cash pick-ups or sending to a mobile.
- Limited availability. Instarem is only available in some markets at the moment, but has plans to expand soon. This also means it only offers a limited range of currencies compared to some other money transfer specialists.
See what your transfer with Instarem could look like
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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