Instarem review

Instarem Review


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Instarem, founded in 2014, has been a prominent player in the money transfer space alongside the likes of Wise and Remitly.

But is Instarem the right choice for you?

In this comprehensive Instarem review, we’ll break down everything you need to know. From fees and transfer speeds to customer feedback and hidden gems, we’ve got you covered.

What is Instarem, and how is it Different?

Instarem is a digital money transfer service that provides fast, secure, and cost-effective international money transfers. The platform is powered by NIUM, which empowers its users to take better control of their money, regardless of their location. 

NIUM has made sending and receiving money more transparent and integrated into Instarem’s customers’ lives and business needs. 

The platform’s website and mobile app are designed to be user-friendly, so you don’t need to have any prior experience with international money transfers to use them. You can easily track your transfers and manage your account from the comfort of your own home.

Instarem also allows small and medium-sized businesses to make international money transfers to their suppliers, remote offices, vendors, and freelancers. 

Unlike other international money transfer platforms for businesses, Instarem has removed all the complexities of international business payments. This has resulted in fast and cost-effective international business payments.

Instarem offers low money transfer fees and competitive forex exchange rates. It also has a simple platform, which can easily be integrated with businesses and offer business owners real-time access to their payments for better control over their finances. 

Instarem prides itself on Amaze, which serves as a one-stop payment solution for its users. You can pair up to 5 different bank cards with an Instarem Amaze card, allowing you to enjoy lighter wallets and amazing rewards. 

Instarem Amaze users enjoy an extra 1% cashback when they make purchases with the card, as well as other rewards. 

Pros and Cons of Instarem


  • Instarem has competitive pricing with no hidden fees
  • Fast money transfer services
  • The platform verifies all its users and transactions for safety purposes
  • All transactions costs are transparent 
  • Users get to earn reward points when they send money
  • The mobile app makes sending money effortless


  • Instarem exchange rates have a markup
  • It doesn’t support multi-currency accounts
  • Instarem card is available for Singapore users only
  • No branch network and therefore no cash pick-up services

Who is Instarem For?

Instarem primarily aims at individuals and businesses who need to send money internationally. For individuals, Instarem is perfect for those who have family members living in other countries and need to send them money. It’s also great for students who are studying abroad and need to transfer money to cover expenses. 

For businesses, Instarem offers a great solution for companies that operate internationally and need to make payments to suppliers or employees in other countries. The company’s proprietary technology allows for quick and secure money transfers for business purposes.

Instarem’s service is easy to use and can be accessed via their website or mobile app. 

How Does Instarem Work?

Instarem provides a convenient way for users to send money overseas. With Instarem, you don’t have to visit a physical store or wait in long queues, as all money transfers are done online. 

You only need a computer or smartphone with an internet connection to send money. 

Below is a detailed step-by-step guide on how to send money with Instarem. 

  1. Create an Instarem account—you can do this on their website or mobile app. Users must provide their personal information and government-issued ID for verification purposes. 
  2. Once your account is set up, you can initiate a transfer by selecting the country you want to send money to and entering the recipient’s information.
  3. Choose your preferred payment method and currency of your recipient. 
  4. Enter the transfer details—you will need to provide your payment information by entering your bank account details or by using a debit/credit card.
  5. Review and confirm the transfer details. 
  6. Authorize the transaction by entering the verification code sent to your mobile phone. 
  7. Complete the transfer by clicking the “send” button.
  8. You can track the status of your transfer through Instarem’s website or mobile app and you will receive email updates as the transfer progresses.

Please note that the exact steps may vary slightly based on the country you are in and the type of transfer you are making. Instarem’s customer support team is available 24/7 to assist you with any questions or concerns.

Is Instarem Safe and Legit?

Instarem holds an AFS (Australian Financial Services) license. This money transfer service is regulated by additional 9 financial regulators from different parts of the world. 

Instarem is also a registered member of AUSTRAC (Australian Transaction Reports and Analysis Center). This is an indication that the company operates by the book.  

In addition to this, Instarem has an ISO certification as a safe financial transfer services provider. The ISO certification confirms that Instarem has put the necessary measures in place to protect users’ personal information and funds. 

Instarem Mobile App Review

Instarem’s mobile app is a convenient way for customers to transfer money internationally on the go. The app is available for iOS and Android devices and can be downloaded from the App Store or Google Play.

The app’s interface is user-friendly and easy to navigate, making it simple for customers to initiate and manage their transfers. Additionally, the app offers real-time tracking of transfers and push notifications when transfers are completed. This makes it easy for customers to stay informed about the status of their transfers.

The Instarem mobile app has an in-app currency converter that allows users to check and convert the forex exchange rate for the country they would wish to send money. Users need to enter the amount they want to send in the convert section and choose the destination country to see how much they will pay and what the recipient will receive. 

What are Instarem’s Fees (for US customers)?

Instarem charges zero fees for U.S. customers who use U.S. dollars. However, sending money from a bank account can result in a fee of 1% of the total amount of money you want to send. 

See our article Cheapest Transfer From the US.

What are Instarem’s International Fees?

Instarem charges its users a 0.25% – 1% fee when sending money overseas. However, the actual fees depend on the country you send money from and to and the payment method used. 

The fee is sometimes scrapped when transferring a certain amount of money or in certain currency routes, which makes Instarem cheaper for sending large amounts of money.

Like the mobile app, the Instarem website has a calculator that allows users to check the exchange rates before making a transaction. Users are highly encouraged to visit the Instarem website to check the applicable rates before sending money. 

See our article Cheapest International Transfers.

Instarem’s Customer Reviews

Instarem has built quite a reputation among its customers—scoring a 4.4 rating on Trustpilot. The platform has over 7,500 customer reviews, with more than 60% rating it as an “Excellent” international money transfer service. 

Instarem’s positive reviews highlight secure transactions, low money transfer fees, and faster speed. 

There are a few negative reviews surrounding Instarem. Some users have an issue with Instarem requiring them to submit their identification documents to verify their accounts. 

However, Instarem does this to adhere to international money transfer services laws. Any reputable money transfer service will ask for your ID to verify your account. 

Instarem Alternatives

Although Instarem is a great international money transfer option, it might not support all your needs. Here are a few other options that you can use.

Remitly this is a U.S.-based international money transfer company that offers fast and cheap services. Remitly offers numerous pay-in/pay-out options and allows users to transfer money to over 85 countries. 

Wise this is the best alternative for people who prefer bank transfers. Wise has become popular because of its ease of use and low cost of sending money overseas. Users can transfer money to over 70 countries using this platform. 

See our Instarem vs. Wise comparison.

Revolut this is a big name in the digital money transfer industry, with over 12 million users across the globe. Revolut boasts of a modern mobile banking app that comes with smart features and also offers some of the cheapest international money transfer services. 


While Instarem might not be that popular in the international money transfer industry, it offers its users many benefits. Instarem allows users to access fast, reliable, and secure international money transfer services at competitive rates. 

Additionally, the platform allows users to enjoy its loyalty point system when they make a transaction. You can also use its business solution to transfer money to your vendors if you run a small or medium-sized business. 

Overall, it’s worth considering Instarem if it supports the currencies and countries you are interested in. 


What does Instarem do?

Instarem is a leading international money transfer company that allows users to send money to over 55 countries. 

Why choose Instarem?

Instarem offers fast, safe, and cost-effective international money transfers with some of the most competitive rates in the market. 

How do I register with Instarem?

Creating an account at Instarem is very easy. You can use your Facebook/Google ID or email address to register. However, you will need to provide a government-issued ID to verify your identity. 

What are Instarem rates?

Instarem rates differ depending on the country and transfer corridors used. However, the typical fees range between 0.25% and 1%. 

Does Instarem support business accounts?

Yes, users can open a business account with Instarem. You must be registered as a business when creating an Instarem business account. 


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