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InstaReM

InstaReM

About InstaReM

Are you looking for a fast and safe way to send money overseas but also want to do so at a highly competitive exchange rate? Meet InstaReM, otherwise known as Instant Remittance. It’s one of the few providers on the Mozo database that can transfer funds into a bank account outside Australia in typically one business day. It’s also an award winner - taking out Mozo Experts Choice Awards for best value International Money Transfer provider in 2020 and 2018. Read on for a full run through of what it has to offer.

InstaReM Foreign Exchange rates

Rates and fees verified as correct at 05 August, 2020. Other information correct at the time of writing.

One of the first things to check when comparing international money transfer providers is how competitive exchange rates are. Well, you’ll be glad to hear that because InstaReM offers live interbank rates (unlike major banks who have a reputation for increasing their margins on the exchange rates they offer), you get better value for money.

TIP: Punch in how much you want to send into our calculator below, choose your currency - and it will crunch the numbers for you on how much the person at the other end of your transfer will receive!

Currency At today's InstaReM Rate, 1 AUD buys* For 10,000 AUD recipient will get
United States Dollars (USD) USD
USD 0.7103 USD 7,103
Euros (EUR) EUR
EUR 0.6141 EUR 6,141
Great Britain Pounds (GBP) GBP
GBP 0.558 GBP 5,580
Canadian Dollars (CAD) CAD
CAD 0.9574 CAD 9,574
Chinese Yuan (CNY) CNY
CNY 4.9976 CNY 49,976
Danish Krone (DKK) DKK
DKK 4.5929 DKK 45,929
Hong Kong Dollars (HKD) HKD
HKD 5.5062 HKD 55,062
Indonesian Rupiah (IDR) IDR
IDR 10408.3875 IDR 104,083,875
Japanese Yen (JPY) JPY
JPY 76.4997 JPY 764,997
Malaysian Ringgit (MYR) MYR
MYR 3.0209 MYR 30,209
Norwegian Krone (NOK) NOK
NOK 6.5405 NOK 65,405
Philippine Peso (PHP) PHP
PHP 35.0978 PHP 350,978
Saudi Riyal (SAR) SAR
SAR 2.6771 SAR 26,771
Singapore Dollars (SGD) SGD
SGD 0.9843 SGD 9,843
South African Rand (ZAR) ZAR
ZAR 11.7614 ZAR 117,614
Swedish Krona (SEK) SEK
SEK 6.3343 SEK 63,343
Swiss Francs (CHF) CHF
CHF 0.6635 CHF 6,635
Thai Baht (THB) THB
THB 22.4547 THB 224,547
UAE Dirham (AED) AED
AED 2.6217 AED 26,217

Features and benefits of sending money via InstaReM

Is InstaReM right for you? Here’s a snapshot of the key details:

Delivery times: As we mentioned earlier, InstaReM will transfer your funds fast (unlike some providers who take up to three days, or even charge extra for an express service).

Transaction restrictions: While there isn’t any limit on how much you can transfer, InstaReM has a $50 minimum policy.

Low transfer fees: When you transfer money overseas via InstaReM, you won't be charged high transfer fees. InstaReM charges a transaction fee that can differ depending on what currencies and countries you're dealing with, ranging from 0.25% to 1%.

Complete Transparency: When you set up your transaction, you’ll be able to see complete details of your FX rate, transaction fees and the amount to be received by the beneficiary.

Customer support: Just like several other boutique IMT specialists we help you compare here at Mozo, InstaReM doesn’t have physical branches you can simply stroll into. But if you need help or have any q’s, you can call its hotline on weekdays from 9am to 11.30pm and over the weekend from 10am to 2pm (AEST).

$10 bonus credit: New customer? Enter the coupon code “MOZOINSTA” when prompted online and $10 will get credited towards your first InstaReM transfer.


InstaReM's services

InstaReM solely focuses on international money transfers. It is committed to making the process of transferring money to contacts overseas more simple, quick and cost-effective for individuals and businesses.

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


Why choose InstaReM?

To recap, here are the benefits of choosing this fast-growing company for all your IMT needs:


How to transfer money with InstaReM

Whether you want to send cash to family or buy property overseas, it’s really quite easy doing it through InstaReM. Let’s run through the process...

Setting up your account

1. Register. Build your customer profile on InstaReM’s website by typing in your name, address, birth date and employment status.

2. Identity check. Next you’ll be prompted to provide your passport number and upload a snap of your driver’s licence, bank statement or utility bill (keep in mind that residential addresses detailed on your personal documents must reflect where you live).

3. Approval. InstaReM will review your application and if you’re successful the new account will open within a 36 hour period.

Authorising transactions

After those three small steps above have been completed you can start sending money overseas! This is how you do it:

1. Sign into your online account using the details InstaReM has provided you.

2. Type in the amount and currency you want your funds converted into along with the recipient’s bank details.

3. Make a POLI payment (a third party payments provider) or bank transfer (which may take longer).

Note: If you pick the POLI option, you’ll be redirected to its official site and complete the transaction there. Alternatively, opting for a bank transfer involves you manually typing in a reference number, plus InstaReM’s BSB and account number as you normally would with your day-to-day online banking.

4. Submit your order, then you’ll be issued a receipt that you can keep for reference. Your transfer will typically take one business day from the time InstaReM receives the money.


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*The exchange rates offered by each provider are indicative exchange rates that have either been supplied by each provider or gathered by Mozo. Exchange rates fluctuate constantly and as a consequence the exchange rates listed here may vary to the actual exchange rate you are quoted by a provider. Please ensure you confirm the actual exchange rate with the relevant provider prior to conducting any transaction. These exchange rates are updated every hour.