InstaReM Money Transfers India: Your full guide


When looking into money service providers there are a number of factors to help you choose the right one for you. Here are a few factors to assess them by: Countries they service, ease of use, security of transaction, exchange rate, fees, and time. New online-only providers like Wise or InstaReM are both options for your next transfer.*

InstaReM is a Singapore-based company that provides cross-border payments internationally for individuals, small to medium businesses and corporations. Founded in 2014, you can send money using InstaReM directly from their website or app to bank accounts in over 55 countries. In this article, we’ll go over how to send and receive money internationally with InstaReM. We’ll also take a look at a comparison between InstaReM and Wise to help you choose the best option for you.

Receive money internationally with InstaReM

You can receive money directly into your local bank account in India using InstaReM.

Sign-up and process to receive money with InstaReM

You don’t need to sign up to receive money through InstaReM. The funds will be deposited right into your local account.

InstaReM fees and charges

As a recipient, you won’t be charged any fees to receive the money. The fees will be taken out of the sending amount.

How much time does it take to receive money with InstaReM

InstaReM takes about 1-2 business days once the payment is complete on the sender’s end¹.

Sending money to India? Try the faster Wise way. 90% of Wise’s transactions to India are completed within 24 hours from receiving payment. Best yet, you can track your transaction in real time with the award-winning Wise app or online at Track Your Transfer.

Send money abroad with InstaReM

A large benefit that InstaReM has is the ability to send money from India to numerous countries around the world. Got a family member studying in the US or working in the UK? InstaReM can be a money transfer provider to send money from India to both these countries. Here is how to go about it.

Sign-up and process to send money abroad with InstaReM

You can sign up directly from their website by creating your own username and password, or signing in using your Facebook or Google accounts. You will need to provide your active email address, phone number and provide identity and address verification documents to continue.²

Once you have been verified, you will need to add your recipient's information. You can click on the ‘Recipients’ tab once you have logged in or click on ‘Add a Recipient’ when you are setting up your first transaction. You will need your recipient's personal information and comprehensive bank details.

To note, you can only make payments through a bank transfer with a personal Resident Indian Savings Account- not with an NRO or NRE account.

InstaReM transfer limit

The minimum to transfer from India is ₹4,000, while the maximum is the USD equivalent of $5,000 if you are sending money for any reason besides overseas education payments. For overseas education, the maximum limit per transaction is $10,000 USD. The maximum limit to send money from India for a financial year is the currency equivalent of $25,000 USD.³

Charges and fees to send money with InstaReM

Similar to Wise, InstaReM charges a nominal fee for each transaction. In turn, they provide the mid-market exchange rate, the same rate that banks use between themselves. The fees vary depending on country but they are typically between .25% and 1%.⁴

How much time it takes to send money with InstaReM

The recipient usually gets their payments between 1-2 days from payment with InstaReM. However, factors such as how you are paying for your transaction can add a day or two to your transaction process time.⁵

Check the status of money transfer with InstaReM

You will receive a receipt for your transaction which you can keep track of on your InstaReM dashboard.

InstaReM customer support in case transactions are stuck

Customer service is available through helpful Q&As on their site and representatives available through email at and phone at 0008009190542.

Want to send money cheaply and easily with no minimums? Wise can be a convenient option to send money, big and small, to India. You are not limited by how much you can send, and you get the mid-market exchange rate too. Low fees, no minimums and easy to use- its why Wise has 5 million happy clients around the world.

The true cost of international transfers with InstaReM

There are a lot of similarities between InstaReM and Wise, with both being good options. They are easy to use, use the exchange rate you see on Google and are significantly cheaper than the banks to transfer money. But how do they compare- let’s take a look:

InstaReM Wise
Fee for transferring $1,000 USD to India $5.00 $9.08
Transfer total $995 $990.92
Exchange rate for $1 ₹69.43 ₹69.43
Recipient receives ₹69,082.85 ₹68,799.57
Time needed 1-2 business days Should be there in 3 hours
Score on TrustPilot 8.1/10 9.2/10

collected on June 11, 2019

InstaReM provides a good service with low fees and can be a strong alternative to Wise if you have time on hand. Wise has an excellent score with customers on Trustpilot which has helped make it a go-to transfer service globally.

A cheap, fast and transparent alternative: Wise

Wise is a low cost, easy, and modern way to transfer money to India. Wise gives you the flexibility that a lot of other providers can’t provide. With low fees and strong exchange rates, your family and friends get more money in hand. There are also no minimums with Wise so even if you want to send a little bit for a gift, or a lot for a major life event, there is nothing holding you back from helping a loved one. Try out the Wise comparison tool to see how much you could save in sending money by switching to Wise.

Sources used for this article
1, 5
2, 4

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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