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InstaReM – BER Review

Instarem provides fast, safe and cost effective cross border money transfer services for Individuals and businesses from Australia, Hong Kong, India, Malaysia and Singapore to more than 25 countries.

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Exchange Rates 2.8
Customer Service 1.5
Ease of Use 1.8
  • Low transfer fees of about 0.25-0.5%, real-time exchange rates, completely transparent
  • Transfer Amount Limits – Minimum transfer of $50, no maximum limit. The first transfer should not exceed $2,500.
  • Transfer Speed – Transaction typically takes 1 business day to process from the time funds are received. The time for the beneficiary to receive the funds will depend on the receiving bank processing times.
  • Use the Best Exchange Rates coupon code BER10AU enjoy a $10 bonus on the transaction, as long as you transfer over $500.

InstaReM – The Best Exchange Rates Review

InstaReM is a relatively new entrant in the international money transfer market with offices and licenses in Australia, Singapore and Hong Kong with a sole focus on international money transfers low transfer fees, real-time exchange rates, speedy payments and excellent customer service. Since launching in 2015, the company now has a strong customer base of over 10,000 people.

They have a cutting-edge Treasury set up that means you will often receive your payment in the recipient account the same or next business day!

InstaReM money remittance services are available to individuals and businesses and you can transfer money from Australia to 50 countries using their service.

For corporates and SMEs, InstaReM offers MassPay platform that helps them make bulk payments to multiple beneficiaries in multiple currencies through a seamless global payments process.

Transactions are processed at real-time inter-bank rates, making InstaReM’s service very cost-effective whilst transfers can be booked via InstaReM’s website or its Mobile App anytime, anywhere. You will know the transfer fee right at the time of initiating the transfer.

InstaReM holds an AFS License under ASIC regulation. Money paid to your InstaReM account must come from your bank account and cannot be made from a third party.

Contact InstaReM today and inform them you visited Best Exchange Rates and they’ll guarantee you just that, the Best Exchange Rates when making an international money transfer or payment overseas for both individuals and businesses.

InstaReM can make you considerable savings against the banks by providing more competitive exchange rates.

InstaReM home page

How to Use InstaReM?

How can I make a transfer?

  • Online through online portal
  • Via Phone with our Dealing Team

Before making a money transfer with InstaReM, you will need to create your InstaReM account. This can be done online and will take a few minutes to complete by entering basic personal information. You will need to provide supporting documentation, including your driving license, passport and bank statement or utility bill. The documentation is required to verify your identity to comply with the Anti-Money Laundering and Counter-Terrorism Act 2006.

When your account is approved, you are ready to make a payment. Select the amount and currencies before entering the payee’s bank details. Finally, initiate the bank transfer, including the reference number within the details of the transfer, and you’re done. For immediate transfers, select POLI rather than bank transfers.

Special Offer for Best Exchange Rates Customers!

When you book your first transfer with us, use the coupon code BER10AU enjoy a $10 bonus on the transaction, as long as you transfer over $500.

Transfer Speed

Transaction typically takes 1 business day to process from the time funds are received. The time for the beneficiary to receive the funds will depend on the receiving bank processing times.

Same Day processing cut-off times

This is the time that your funds need to be received by InstaReM for the transfer to be completed on the same day.

Currencies InstaReM offers

InstaReM can buy AUD, HKD or SGD from you and sell to you GBP, USD, NZD, EUR, PHP, INR, MYR, SGD, HKD, THB, IDR, USD, BDT, LKR and many others.

Features of the InstaReM service

  • Close to Interbank exchange rates
  • No transaction Fee
  • South East Asian Currency Specialist
  • Available 24/7
  • Refer a friend and receive a $20 bonus!

Transfer Amount Limits

Minimum transfer of $50, no maximum limit. The first transfer should not exceed $2,500.

InstaReM Transfers

Visit InstaReM

 

Further Reading

 

Disruptors Challenging Australian Banks in Forex Price and Service: ACCC Report

Key Takeaways from the ACCC inquiry into currency conversion services. BestExchangeRates referenced among comparison sites playing an important role in customer awareness of the excessive currency margins charged by banks.

Last update: 1 Oct, 2019

AUD/GBP Between a Rock and a Hard Place – USD Strength

AUD/GBP versus AUD/USD and GBP/USD

Both the Australian dollar and British pound sterling have had a hard time of late caught between the rock of the China/US trade war and the Brexit hard place.

Last update: 27 Aug, 2019

Facebook’s Libra Is Not the Game Changer That’s Being Promised

Enthusiasts would have us believe that Facebook’s own digital currency, Libra, will instantly revolutionize the remittance industry upon its release in 2020 — except it won’t. A harsher reality awaits, with conversion costs, capital gains taxes and a lack of Libra-priced goods all likely to limit its appeal.

Last update: 29 Nov, 2019

  

Posted to: Reviews

 

5 Reviews for “InstaReM – BER Review”

  1. Avatar Frank says:

    STAY AWAY FROM THIS COMPANY.
    I initiated a $30000 US dollar transaction to the Philippines for a property purchased.
    I provided all the documents including the deed of sale, my bank account statements detailing the source of funds, etc and after 12 days of processing/pending status,
    they send me an email stating that they will refund my money instead.
    They could not provide me any more details except it doesn’t meet their internal process.
    I asked for more information as to why it did not meet their internal process when I have provided everything that they needed but the customer rep says that’s all the information she has.
    Bare in mind that I’ve been able to send the same amount using Transfast with no issues whatsoever.
    It took them 12 days to determine this while they have my funds on their bank account and it’s going to take a few more days for me to get the refund.
    Essentially the way they make money is to keep your funds for a couple of weeks while they make interest out of it and refund it back to you.
    What a SCAM and RIPOFF.
    AGAIN STAY and SAVE YOURSELF THE TIME AND MISERY!!!
    This company should be investigate for FRAUD and illegally profitting interest from other peoples funds/money!!!

    1
  2. Avatar Marcelino Saiz says:

    VERY unacceptable experience
    VERY unacceptable experience.
    Attempted to set up a new account and transfer monies to Peru.

    1st issue – No explanation of required fields such as: CCI or DNI or RUC or CE. So I called spent 20 minutes with a representative and he didn’t know. He had to call me back. He said that the CCI is the SWIFT number which is 8 characters, but the website requires a 18 digit code?

    2nd issue – Not all banks are listed for the US and ACH is the only method of payment.

    So I invested 45 minutes and it was a HUGE waste of my time.

    2
  3. Avatar Samir Kumar Rath says:

    Guys pls don’t use this app i have lost some money there and I am calling them daily for the update and they don’t have any clue and daily they are giving different excuses.Wrost experience.Better use TNG which I normally use for remittance from HK to India

  4. Avatar Malaysian Reviewer says:

    – Not compromise
    – Keep asking personal documents like bank statement and need to show all their info as requested
    – Hold our money/ transaction so it will take longer than 2 working days and come back with non-sense excuses
    – Try it if you want such an experience!

    1
  5. BER Team BER Team says:

    InstaReM are the new kids on the block in South-East Asia, they are bringing more competition to this already crowded region.

    4

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