InstaReM Referral Promo
Fast, Seamless, Low Cost Overseas Money Transfers
Why should I use InstaReM for remittance?
- Regulated by the Monetary Authority of Singapore (MAS). I wouldn’t advise to use any service not regulated by MAS.
- Better FX rates than banks.
- You can sign up conveniently using MyInfo
- Instant transfer to Visa debit cards
- Transparency, low remittance fee and zero hidden charges.
Large number of countries supported
With Instarem, you can send money to the following countries:
- Asia: Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, Nepal, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Vietnam
- Europe: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, United Kingdom
- North America: USA, Canada, Mexico
- South America: Argentina, Chile, Colombia, Peru
- Oceania: Australia
Zero-Margin FX rates
Instarem also offers zero-margin* FX rates. According to them, many banks and Money Transfer Providers add a mark-up to the FX rates they offer to their customers for sending money abroad. Besides, there are other hidden charges which makes for an inefficient, international money transfer experience.
*applicable only for certain currencies and certain trading hours
Paying to businesses
I recently purchased something from Australia and needed to pay the foreign business >$1000AUD. I was able to do this via Instarem rather than through a bank and thus saved some expensive TT fees. Not every remittance service supports paying to businesses so I view this as a big plus point for Instarem.
I managed to sign up with my Facebook account and MyInfo and got verified and transferred funds all at one go. To transfer SGD$1000 to MYR, the fees are as low as SGD$4.50 which translates to only 0.45%.