Instarem Referral Code gQfEDQ: 2,000 InstaPoints + amaze Review
Fast, Seamless, Low Cost Overseas Money Transfers | Travel and save with amaze card
Sign up with Instarem via the referral code: gQfEDQ or referral link and receive 2,000 InstaPoints, redeemable for S$25 cashback in your amaze Wallet or S$25 off a qualifying overseas transfer.
Eligible new customers must complete either of these within one year of signing up:
- Make a single overseas transfer of more than S$1,000; or
- Spend more than S$100 cumulatively with the amaze card.
You’ll also receive a special fee discount on your first transfer when signing up through the referral link.
Table of Contents
Instarem Review Singapore: Fees, FX Rates & amaze Card
Simplifying Payments Globally – It’s in Our DNA
Instarem is the trading name of NIUM Pte Ltd, a Singapore-headquartered fintech company offering digital cross-border money transfers to individuals and businesses.
NIUM Pte Ltd is regulated by the Monetary Authority of Singapore (MAS) as a Major Payment Institution under Licence No. PS20200276.
Is Instarem Worth It in Singapore?
Instarem is worth comparing for overseas transfers and travel spending. Whether it saves you money depends on the currency, payment method and fees.
Worth considering if you:
- Want to compare transfer costs and the final amount your recipient receives
- Frequently send money to Malaysia or Asia
- Want a travel card with a choice of linked-card or prepaid-wallet spending
InstaPoints (IPs): What They Are & How to Use Them
InstaPoints are Instarem’s reward points, redeemable for cashback, KrisFlyer miles and overseas transfer discounts.
| Redemption | InstaPoints required | Benefit |
|---|---|---|
| amaze cashback | 1,000 | S$5 in your amaze Wallet |
| amaze cashback | 2,000 | S$25 in your amaze Wallet |
| KrisFlyer miles | 1,200 | 400 miles |
| Overseas transfer discount | 2,000 | S$25 off a transfer of more than S$1,000 |
The S$25 cashback and S$25 transfer discount share a limit of one redemption per calendar month. The S$5 cashback option has no monthly redemption limit. Cashback is credited to your amaze Wallet for spending with the card; it cannot be withdrawn.
In Singapore, InstaPoints expire 12 months after crediting. Check the app for available redemptions and any conversion charges. See the InstaPoints redemption guide and amaze terms.
Instarem Remittance: Features, Fees & Supported Countries
Why use Instarem for remittance?
- MAS-regulated entity
- Instarem operates under a Major Payment Institution licence issued by MAS.
- Competitive FX rates
- Exchange rates may include a markup, and transfer fees depend on the destination and payment method.
- Compare the final recipient amount after fees rather than the headline exchange rate alone.
- Convenient onboarding
- Sign up using email, with SingPass (MyInfo) enabling faster identity verification and onboarding.
- Fast transfers
- Fast transfers to supported destinations, with many transfers completed instantly or within the same day (depending on corridor and payment method)
- Transparent pricing
- Clear fees with no hidden charges disclosed at checkout.
- Fast transfers to Malaysia
- Transfers are often completed quickly, with DuitNow support for near real-time transfers
- Send funds using identifiers such as mobile number or passport number.
- Wide country coverage
- Send money to 60+ destinations, including Malaysia, India, Indonesia, Australia, the United Kingdom and the United States. Check the current supported destinations for availability.
Personal experience
My experience using Instarem for remittance:
- Funding via PayNow is straightforward.
- Transfers to Malaysia are typically very fast (sometimes within 1 minute).
- Supports payments to overseas businesses.
- I used it to pay an Australian merchant >AUD 1,000 and avoided traditional bank telegraphic transfer fees
- Not all remittance providers support business payments, which is a useful differentiator.
Instarem amaze card review: Features, Fees & FX Rates
The amaze card is a virtual and physical Mastercard with two payment modes: amaze Link and amaze Wallet. These are two ways to use the same card, not separate cards.
amaze Link: Pay through your bank card
Link up to five eligible Mastercard credit or debit cards in the Instarem app and choose one as your payment source. When you pay with amaze overseas, Instarem converts the foreign-currency purchase to SGD and charges your selected bank card. No wallet top-up is needed.
You may earn eligible rewards from the linked bank card, subject to the issuer’s rules, but amaze Link spending does not earn InstaPoints. Card-linked SGD purchases incur a 1% fee, minimum S$0.50.
amaze Wallet: Spend your topped-up balance
Top up your amaze Wallet, then select it as the card’s payment source. Purchases use your wallet balance rather than charge a linked bank card. Eligible wallet spending earns 0.5 InstaPoint per S$1, subject to a S$10 minimum transaction and exclusions.
Top-ups through PayNow or a linked bank account are free. Apple Pay top-ups cost 1.5%, minimum S$0.50. Wallet spending has no domestic transaction fee, and Instarem advertises 0 FX fees and 0% FX markup for wallet spending.
You can switch between Link and Wallet in the app. Check your payment source before spending.
Why consider the amaze card?
- No annual or application fees
- Earn InstaPoints
- Earn 0.5 InstaPoint per S$1 on eligible wallet purchases of at least S$10; linked-card spending does not earn InstaPoints.
- Merchant promotions
- Access partner deals via the ‘amaze card’
- Access to Mastercard World tier benefits (subject to Mastercard terms)
- Choice of FX payment modes
- Wallet spending has advertised 0 FX fees and 0% FX markup; Link converts purchases to SGD with an FX spread.
- Overseas ATM withdrawals supported
- Withdraw from your wallet up to S$1,000 per day (foreign currency equivalent), with a 2% withdrawal fee; ATM operator charges may also apply.
- Apple Pay and Google Pay support
- Add your amaze card for mobile payments.
- Multi-currency support
- Hold, convert and spend in 11 currencies (SGD, AUD, CAD, CHF, EUR, GBP, JPY, MYR, NZD, THB, USD).
Personal experience
I initially hesitated to link my credit cards due to concerns about Merchant Category Code (MCC) changes affecting rewards eligibility.
When I checked with Instarem, I was told MCCs are passed through to the underlying card issuer. However, this does not guarantee bank-card rewards: the issuer’s current exclusions and reward rules still apply.
Important fees to note
- amaze Link SGD purchases: 1%, minimum S$0.50, from the first transaction.
- amaze Link foreign-currency purchases: an FX spread applies; Instarem currently lists up to 2.1%.
- Apple Pay wallet top-ups: 1.5%, minimum S$0.50. PayNow and linked-bank-account top-ups are free.
- Overseas ATM withdrawals: 2%, plus any ATM operator charges.
Refer to the current fee schedule for full details.
Caution when switching payment sources
In my earlier experience, a purchase was charged to the card selected when it posted, rather than the card I had selected when making the purchase.
Example:
I selected a specific card for an Amazon.sg purchase, but the charge was posted the next day after I had switched cards. The transaction was billed to the new card instead, resulting in missed cashback.
Overseas FX comparison
amaze Link and amaze Wallet have different FX pricing. Link converts the purchase to SGD before charging your bank card, with an FX spread. Wallet spending has advertised 0 FX fees and 0% FX markup.
Compare the total cost with using your bank card directly, taking into account the exchange rate, fees and any eligible bank-card rewards. Neither mode should be assumed to be cheaper for every transaction. See Instarem’s explanation of the two modes.
Important: Avoid Illegal Activities (Money Mule Scams)
Keep your account secure. Do not participate in fraudulent or illegal activities such as money muling.
- Do not sell or transfer your account
- Do not allow others to access your account
- Do not make payments on behalf of unknown parties
- Never share your login credentials
Auntiehuat
Web Administrator
While we do our best to maintain up to date information on the available referral promotions, their terms and conditions do change frequently. We do not warrant, endorse, guarantee, or assume any responsibility for any loss caused by content on this website. Content may contain affiliate links, and at no cost to you, we may earn a commission when you click on them.