Instarem international money transfers

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 2021, 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 23 June 2024. Other information correct at the time of writing. Advertiser disclosure.

One of the first things to check when comparing international money transfer providers is how competitive the exchange rates are. So, you’ll be glad to hear that because InstaRem offers live interbank rates (unlike many 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, then choose your currency, and it'll 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* Indicative amount transferred for 10,000 AUD
Mozo logo Canadian Dollars (CAD)
CAD0.9105 CAD 9,105 Go to site
Mozo logo Euros (EUR)
EUR0.6214 EUR 6,214 Go to site
Mozo logo Great Britain Pounds (GBP)
GBP0.5254 GBP 5,254 Go to site
Mozo logo Hong Kong Dollars (HKD)
HKD5.1888 HKD 51,888 Go to site
Mozo logo Indonesian Rupiah (IDR)
IDR10922.9703 IDR 109,229,703 Go to site
Mozo logo Indian Rupee (INR)
INR55.5376 INR 555,376 Go to site
Mozo logo Sri Lankan Rupee (LKR)
LKR202.9516 LKR 2,029,516 Go to site
Mozo logo Malaysian Ringgit (MYR)
MYR3.1327 MYR 31,327 Go to site
Mozo logo New Zealand Dollars (NZD)
NZD1.0864 NZD 10,864 Go to site
Mozo logo Philippine Peso (PHP)
PHP39.1285 PHP 391,285 Go to site
Mozo logo Singapore Dollars (SGD)
SGD0.9008 SGD 9,008 Go to site
Mozo logo Thai Baht (THB)
THB24.4124 THB 244,124 Go to site
Mozo logo United States Dollars (USD)
USD0.6647 USD 6,647 Go to site
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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: There isn’t any limit on how much you can transfer and there's a $0 minimum transfer limit.

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 questions, you can call its hotline on weekdays from 9am to 11.30pm and over the weekend from 10am to 2pm (AEST).

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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 to helps them make bulk payments to multiple beneficiaries in multiple currencies through a seamless global payments process.

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Why choose InstaRem?

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

  • Delivers your funds to overseas bank accounts fast
  • Charges highly competitive transfer fees
  • Offers higher exchange rates than the majors
  • Quick and easy account setup (more on this below)
  • Absolutely transparent, no hidden costs
  • Great customer support

Visit Instarem website

Go to site
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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-in: to 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 payment: 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.